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Data Security / Data Theft

Australia Adopts Law on Mandatory Data Breach Notification

The Privacy Amendment (Notifiable Data Breaches) Bill 2016 passed both Houses of Parliament on 13 February. Unless the Government fixes a date for commencement by Proclamation, the law will enter into force 12 months from the date the Bill receives Royal Assent.  The following is the official statement from Australian Privacy and Information Commissioner, Timothy Pilgrim: “I welcome the passage ... Read More »

Forrester: Navigating Change: 2017 Predictions

The consequences of today’s customer-led, digital-centric market are becoming clear: great change is upon us (and already happening in some cases). Forrester’s 2017 predictions reveal the big business and leadership, customer experience, and technology changes we anticipate in the coming year — and what to do about them. Business and leadership  The necessary and unavoidable changes to leadership and talent ... Read More »

EU-US Safe Harbor Framework Replaced by EU-US Privacy Shield

The European Commission and the United States have agreed on a new framework for transatlantic data flows: the EU-US Privacy Shield. Today February 2, 2016, the College of Commissioners approved the political agreement reached and has mandated Vice-President Ansip and Commissioner Jourová to prepare the necessary steps to put in place the new arrangement. This new framework will protect the fundamental rights of ... Read More »

Australian Risk Climate: Online Fraud, Broker Channel Fraud and Identity Takeover are Growing Threats

Members of Veda’s Fraud Focus Group heard online credit application fraud had increased 12.6% over the past year and that identity takeover was the fastest growing form of credit application fraud. Veda’s Fraud Focus Group twice a year brings together senior executives from Australia’s big banks, credit unions, card companies, international financial institutions, law enforcement officials and anti-fraud experts to discuss strategies to ... Read More »

Data Breach at Experian Involving US T-Mobile Customers

An Experian network server was accessed by an unauthorized party.  The unauthorized access is an isolated incident over a limited period of time. It included access to a server that contained personal information for consumers who applied for T-Mobile USA postpaid services between Sept. 1, 2013 and Sept. 16, 2015. Experian’s consumer credit database was not accessed, and no other ... Read More »

Data Distrust Pits Consumers against Business

Consumers around the world are actively sabotaging business success every day by deliberately providing the wrong information when asked for personal details, scuppering organisations’ growth plans. A new study by GBG, the leader in identity data intelligence solutions, shows consumers are fed up with being asked for their details, with two in three admitting to deliberately giving incorrect information because they ... Read More »

FICO Brings Self-Learning Analytics to Cyber Security

FICO leverages its patented fraud detection and streaming analytic technologies to detect cyber security threats as they occur FICO (NYSE: FICO) announced the availability of the FICO® Cyber Security Analytics solution. This solution leverages decades of research in streaming analytics technologies, as well as new advances in self-learning models, to detect emerging and evolving cyber threats in real time. “As ... Read More »

Cybercrime and the Value of Personal Data

Put simply, the underground economy is a collection of forums, chat rooms and custom-made websites that are all designed to facilitate, streamline and industrialize cybercrime.  It’s within these communities that cybercriminals gather to trade tools, services and victims’ credentials.  There are various ways to obtain credentials.  Some options are Phishing attacks, Trojan Horses and hacking into an online company database. ... Read More »

The Problem of Identity Theft and What You Can Do About It

Almost a year ago, Target first revealed a data breach had compromised millions of its customers’ credit and debit card information. Since then, the news has been dominated by the discovery of new breaches, disasters collectively putting millions of consumers’ information at risk and every consumer on alert. This time around, consumers haven’t forgotten: according to TransUnion’s most recent consumer ... Read More »

Data Security: Record Year for Data Breaches?

Experian Data Breach Resolution released a collection of educational resources for businesses with anecdotes and advice on how to prepare for and manage a data breach. Compiled based on the company’s history of servicing some of North America’s largest data breaches, the initiative packages key learnings from Experian’s behind-the-scenes support of more than 2,000 client breaches last year. This includes ... Read More »

Data Breach at UPS Store

The UPS Store announced  August 15th 2014 that 51 of its locations experienced a security breach that may have compromised customers’ personal information, including credit and debit card data. There are 4,470 UPS franchised locations throughout the U.S., so the breach affected roughly 1% of stores. A list of the stores (the 51 locations are in 24 states) that experienced the ... Read More »

Hold Security Uncovers the Largest ever Security Breach!

Over one billion of stolen credentials to thousands of websites! According to Hold Security a Russian crime ring has amassed the largest known collection of stolen Internet credentials, including 1.2 billion user name and password combinations and more than 500 million email addresses. After more than seven months of research, Hold Security identified a Russian cyber gang which is currently ... Read More »

Target Data Breach:  Consequences of Apparent Lack of Oversight

According to an article in the Wall Street Journal, Institutional Shareholder Services (ISS), which advises big shareholders of how to vote on corporate ballots, has recommended to Target shareholders to oust seven of the company’s ten directors for lack of oversight.   The ISS claims that these directors failed to insure that Target’s systems were secured against cyber threats.  The recommendation ... Read More »