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GDPR enforcement has begun. Here’s an update – The FCPA Blog – The FCPA Blog
In Britain, privacy regulators announced intentions to fine Facebook £500,000 ($650,000) for sharing user data with Cambridge Analytica, the now-defunct firm embroiled in questions about Russian meddling in U.S. and European elections.In the Netherlands, regulators fined a Dutch bank $62,000 for its failure to respond in a timely fashion to a customer’s request to see […]
Guest Post: Courts Wrestle With Coverage for Cyber-Related Claims | The D&O Diary
While to date there has been relatively few reported cases involving cyber insurance coverage disputes, there has been much litigation surrounding whether traditional insurance policies will respond to cyber-related claims. Although there are some outlier cases finding coverage under a CGL policy for some forms of cyber-risk (Eyeblaster, Inc. vs. Federal Insurance Co., 613 F.3d […]
Chinese Hotel Company Hit With Data Breach-Related Securities Suit | The D&O Diary
For some time now, some observers had been predicting that we would be seeing a bunch of data breach-related securities class action lawsuits, but the predicted wave never seemed to materialize. However, with a recent uptick in these kinds of cases, that could be changing. On October 8, 2018, in the latest of these kinds […]
Ten Questions the SEC Probably Has for Google | LinkedIn
What a mess. Let the onslaught of scrutiny begin, which in my opinion will undoubtedly include an investigation by the U.S. Securities and Exchange Commission (SEC), the federal regulator tasked with policing the disclosures to shareholders by public companies like Google. But what precisely will the SEC want to know? Assuming I am right about […]
Google may face £3.3bn bill for UK customers’ data breach
Google could face a compensation bill of up to £3.3bn over claims it harvested personal data, including political views and health information, from more than four million Britons without their permission. via Google may face £3.3bn bill for UK customers’ data breach.
Key Drivers Behind Cyber Insurance Claims : Clyde & Co
Perhaps most notable to those who are under the impression that hackers only bother with big companies, SMBs reported the highest number of “everyday” breaches. Of the breach events studied, 90% of the organizations that experienced breaches were small and medium sized. With a median event cost of USD18,000 these are numbers that simply can’t […]
Your Cyber Insurance Policy May Not Cover GDPR Fines and Liabilities | Womble Bond Dickinson
Recent studies call into question whether a company can insure against the unprecedented huge fines for violating the complex and vague EU privacy law, the General Data Protection Regulation (GDPR), or whether such insurance would cover liabilities arising from the new class action suits available under the GDPR. Companies with international exposure should check their […]
Port of San Diego reports ‘serious’ cybersecurity incident on IT systems – 10News.com KGTV-TV San Diego
The Port of San Diego says the agency experienced a “serious cybersecurity incident” this week affecting its information technology systems. The Port said it was first alerted of a disruption Tuesday and has since brought in local, state, and federal partners to investigate and restore compromised systems. via Port of San Diego reports ‘serious’ cybersecurity incident […]
Mozilla Launches Data Breach Notification Service — Security Today
Mozilla, the company behind popular web browser Firefox, has announced the release of a free service to help their users learn if their information has been compromised as a result of one of the increasingly-pervasive data breaches plaguing the modern internet. via Mozilla Launches Data Breach Notification Service — Security Today.
Cryptojacking definition – What is it, and how can you prevent it? | Malwarebytes
Cryptojacking (also called malicious cryptomining) is an emerging online threat that hides on a computer or mobile device and uses the machine’s resources to “mine” forms of online money known as cryptocurrencies. It’s a burgeoning menace that can take over web browsers, as well as compromise all kinds of devices, from desktops and laptops, to […]
House Bill Would Create Financial Data Breach Notification Standard – MeriTalk
A bill introduced by Rep. Blaine Luetkemeyer, R-Mo., chairman of the House Subcommittee on Financial Institutions and Consumer Credit, on Sept. 7 aims to create a national standard for financial institutions to notify consumers of data security breaches. The congressman noted the timing of the bill’s introduction at the one-year anniversary of Equifax’s disclosure of […]
Cybersecurity Specialist: Kirstjen Nielsen Wasn’t Overstating Cyber Threat | Wisconsin Public Radio
Scott Borg, director and chief economist of the U.S. Cyber Consequences Unit, told Rob Ferrett on WPR’s “Central Time” that a sophisticated cyber attack on the U.S. would be eclipsed in damage only by a nuclear attack. He pressed that while systems are generally secure now, any advancement by terrorist organizations pose significant risks for the nation’s […]
British Airways faces £500m fine over data breach that saw 380,000 customers’ card details compromised
British Airways is facing a record multimillion-pound fine as it deals with a data breach which the airline’s chief executive has described as a “malicious criminal attack”. via British Airways faces £500m fine over data breach that saw 380,000 customers’ card details compromised.
Investors Filed GDPR-Related Securities Suit Against Nielsen Holdings | The D&O Diary
Earlier this year when I questioned whether or not privacy-related issues might represent an important emerging area of corporate liability, I was thinking we might see privacy claims emerge over time. I was thinking a longer time frame, over the course of years. What has happened is that the privacy-related claims are materializing now. As […]
Cyber Lessons From the SEC? – Lexology
Public companies worried about cybersecurity risk would be well served to pay attention to a recent crackdown by the U.S. Securities and Exchanges Commission on the use of automated technology to detect investment advisor fraud. A recent settlement with Ameriprise Financial Services Inc., a registered investment adviser and broker dealer, suggests that the Commission isn’t […]