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Data Breaches

Experian Identity Theft Survey Results: Consumers Need more Education and Help

Experian launches IdentityWorks(SM), a comprehensive product to detect, protect and resolve identity theft and fraud; survey underscores consumer need News of data breaches and the risks of identity theft and fraud persist, but consumers’ vigilance and awareness haven’t kept pace.  A national survey by Experian, the world’s leading global information services company, revealed that not only is America’s collective guard down, ... Read More »

Commonwealth Bank Of Australia Admits 2016 Customer Data Loss

Commonwealth Bank of Australia has lost track of some 20 million customer statements scheduled for destruction two years ago — records that contain personal details but no passwords or PINs. The records were stored on two magnetic tapes used to print bank records, the financial institution said this week when announcing the incident. Those tapes were supposed to be destroyed ... Read More »

Equifax Provides Further Detail to Congress on Previously Disclosed Data Elements

On Friday, May 4, Equifax Inc. (NYSE: EFX) submitted a letter to several U.S. Congressional committees providing additional detail on the data elements impacted in the 2017 cybersecurity incident. The additional detail provided in the statement, which Equifax is disclosing publicly as part of its commitment to transparency, does not identify additional stolen data or newly impacted consumers, and does ... Read More »

Data Breaches Can be Costly:  Equifax Spent $242.7 Million to Date

Equifax’s first quarter earnings report highlighted expenses due to its September 2017 data breach and how the spending is shifting more toward IT and security.   Equifax’s spending is shifting more toward data security and IT systems. Equifax carries $125 million in cybersecurity insurance with a $7.5 million deductible. In its first quarter earnings report, Equifax outlined that it spent $45.7 ... Read More »

Data Breaches: What happened at Under Armour®? … … It stinks!

The athletic wear company announced Thursday that an unauthorized party gained access to the data tied to its fitness app, MyFitnessPal. The breach, which took place late February 2018, affected approximately 150 million user accounts. The related information that was accessed includes: Usernames Email addresses Hashed passwords The company is urging MyFitnessPal app users to update passwords immediately. Following the ... Read More »

Equifax Releases Updated Information on 2017 Cybersecurity Incident

As a result of ongoing analysis of data stolen in last year’s cybersecurity incident, Equifax Inc. (NYSE: EFX) announced March 1, 2018 that the company has confirmed the identities of U.S. consumers whose partial driver’s license information was taken. Equifax was able to identify these consumers by referencing other information in proprietary company records that the attackers did not steal, and by engaging ... Read More »

Data Protection News from Germany: Every Third Consumer Reports Abuse of Personal Data

Hardly in any other country is so much discussed about the use of data and privacy as in Germany. Nevertheless, over a third of German online users report experiences in which personal data has been misused on the Internet.  Nevertheless, most consumers feel a high sense of security in transactions on the Internet – especially in online banking.  This was the ... Read More »

US Consumer Financial Protection Bureau (CFPB) Puts Equifax Probe on Ice

The CFPB has put the Equifax Probe on hold, but the Federal Trade Commission (FTC) continues its examination of the breach and the company may face financial penalties. Mick Mulvaney, head of the Consumer Financial Protection Bureau, has pulled back from a full-scale probe of how Equifax failed to protect the personal data of millions of consumers, according to people familiar with ... Read More »

India Investigates Possible Breach of ID Database (Aadhaar)

The government of India has started looking into a report that a database with information on its more than 1 billion citizens is being sold online. Citing The Tribune newspaper, Reuters reported that information on Indian citizens was being hawked on social media for $8. The paper said it purchased login credentials to the Aadhaar database, enabling it to access ... Read More »

US Senators Demand Unrealistic Penalties for Data Breaches

Two senators on proposed this week “massive and mandatory” fines for data breaches at Equifax Inc. and other credit reporting companies, starting at $100 for each consumer whose sensitive information is compromised. The bill from Sens. Elizabeth Warren (D-Mass.) and Mark Warner (D-Va.) would add a $50 fine for each additional piece of compromised personally identifiable information for each consumer. ... Read More »

Six Cyber Attacks Which Shook 2017

Even as the world is moving towards a life more digital than ever before, the threats associated with the digital world are multiplying manifold, threatening to disrupt life as we have now come to know it.  Cyber attacks are nothing new, but their increasing number and growing potency have become causes for concern for governments all over the world. There ... Read More »

Data Breach Predictions: The Trends to Shape 2018

Experian Data Breach Resolution releases fifth annual Data Breach Industry Forecast with five key predictions to influence the coming year Today’s organizations face a cyber security landscape that is more difficult to navigate than ever before. To shed light on what lies ahead and help businesses better prepare for emerging threats, Experian Data Breach Resolution today releases its fifth annual Data Breach Industry ... Read More »

Cyber Resilience and Supplier Risk: Moving Beyond Compliance

Cyber Risk Prevention has become a Board Room Responsibility.  Here is a useful approach to proactively mitigate risk.    BIIA recommends members to carefully consider the contents of a speech delivered by Nausicaa Delfas, Chief Operating Officer at the FCA (UK’s Financial Conduct Authority), at the Cyber Security Summit and Expo 2017 Highlights: Cyber resilience is not tick box It should ... Read More »

Risk Management: Data Breach Cover-up a new Form of Credit Risk

Uber concealed a massive global breach of the personal information of 57 million customers and drivers in October 2016, failing to notify the individuals and regulators, the company acknowledged on Tuesday 21st November. Uber confirmed it had paid the hackers responsible $100,000 to delete the data and keep the breach quiet. Uber also disclosed that hackers had stolen 57 million ... Read More »

The Bermuda ‘Super Rich’ Hack

No Place to Hide:  A leading offshore law firm with clients including the super-rich and international corporations has revealed it suffered a “data security incident” that may result in customers’ private information being leaked. Bermuda-based Appleby, which has offices in a number of British, overseas territories, said some of its data had been “compromised” in the 2016 cyber incident. The ... Read More »

We Want You: A Call for an Ad Fraud Task Force

Rishi Dave, CMO at Dun & Bradstreet contemplates that the digital advertising industry is likely to become one of the largest markets for criminal organizations within the next decade – and it’s going to take everyone in the industry to help solve this problem Do you know which industry is likely to become the second-largest market for criminal organizations within ... Read More »