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Join the Cybersecurity and Incident Response Group on LinkedInFTC shuts down the ‘Bitcoin Funding Team’ for promoting deceptive moneymaking scheme
The Federal Trade Commission shut down multiple online moneymaking schemes involving cryptocurrency Friday. A federal court in Florida, at the request of the FTC, halted activities and froze the assets of four men for allegedly promoting “deceptive” chain referral networks. via FTC shuts down the ‘Bitcoin Funding Team’ for promoting deceptive moneymaking scheme.
In Ashley Madison Data-Breach Settlement, FTC Asserts Role as Cyber Cop | National Law Journal
AshleyMadison.com, a website built to help cheating lovers meet their match, has agreed to settle claims that lax cybersecurity was responsible for a data breach that exposed the personal information of millions of customers last year. As part of an agreement with the Federal Trade Commission and several state attorneys general, the parent company, Ruby […]
LabMD CEO: FTC acts as ‘self-appointed cybersecurity cop’ – FierceHealthIT
The Federal Trade Commission has overstepped its authority in prosecuting cybersecurity cases and is taking a punitive stance rather than working with the healthcare industry to increase security for everyone, Mike Daugherty, president and CEO of LabMD, says in an interview at Healthcare Info Security. via LabMD CEO: FTC acts as ‘self-appointed cybersecurity cop’ – […]
After a Data Breach, When Do the Feds Blame the Victim Companies? – Law Blog – WSJ
At a cybersecurity panel on Friday, Mark Eichorn, an assistant director at the FTC’s Bureau of Consumer Protection, gave several examples of the kind of corporate behavior that justifies regulators’ attention. He ?pointed to a recent case where the FTC charged a computer hardware maker called ASUSTeK Computer, whose default login for every router had […]
Major Challenge to FTC’s Cybersecurity Authority Evaporates | Government | E-Commerce Times
As part of the settlement, Wyndham essentially agreed to abandon its nearly four-year opposition to the FTC’s assertion that federal law authorizes it to pursue charges against businesses that fail to protect consumers from cyberthreats. via Major Challenge to FTC’s Cybersecurity Authority Evaporates | Government | E-Commerce Times
FTC Case Against LabMD Dismissed Due to Lack of Harm | The National Law Review
This past Friday the 13th was not a lucky day for the Federal Trade Commission (FTC). An Administrative Law Judge (ALJ) dismissed the FTC’s data security enforcement proceeding against LabMD on the grounds that the FTC failed to demonstrate that LabMD’s allegedly lax security measures were likely to cause substantial injury to consumers. via FTC […]
FTC urges start-ups to invest in cyber security – FT.com
The technology start-ups feted as in the vanguard of US innovation have been told by a leading regulator that they must integrate cyber security defences into their products from day one rather than leaving the issue until they are successful. Securing personal data is one of the most important challenges faced by the US, the […]
Why industry groups are wary of stronger FTC cybersecurity oversight – CSMonitor.com
With a federal appeals court this week reaffirming the Federal Trade Commission’s regulatory authority of data security practices, the question now becomes: Just how powerful will the agency become in overseeing matters of privacy and cybersecurity? via Why industry groups are wary of stronger FTC cybersecurity oversight – CSMonitor.com
FTC Cybersecurity Suit Against Wyndham Gets Green Light – Law Blog – WSJ
A federal judge on Monday provided a boost to Federal Trade Commission efforts to police corporate cybersecurity, allowing the agency to move forward with a lawsuit alleging Wyndham Worldwide Corp. failed to make reasonable efforts to protect consumer information. U.S. District Judge Esther Salas in New Jersey rejected arguments by Wyndham that the FTC didn’t have the authority […]
Businesses face rising political pressure from data breaches – InfoWorld
The data breaches like the one at Target and more recently a unit of credit bureau Experian are fueling consumer protection efforts that could have an impact on business. Last week, the Federal Trade Commission urged Congress to pass national breach notification legislation, while in California, a bill introduced recently in the state Legislature would […]