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Data Breaches

BIIA Regional Meeting Phnom Penh, Cambodia

Save the Date:  BIIA Regional Meeting – March 14th to 15th, 2018; Phnom Penh, Cambodia BIIA will be hosting its first regional meeting to discuss key issues and concerns relevant to the industry and to lead efforts to promote dialog, identify solutions and to facilitate the development of potential pathways forward. The meeting will be a two day event, held ... 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 »

Forrester Research Discloses Limited Website Data Breach

Forrester discloses that it suffered a cyber-security incident, though no confidential information was apparently stolen. Forrester Research announced that it was the victim of a cyber-attack. According to the firm, the attack had limited impact, with no evidence that confidential client data had been stolen.  According to Forrester Research’s preliminary investigation, attackers were able to gain access to Forrester.com content ... Read More »

Equifax Announces Cybersecurity Firm Has Concluded Forensic Investigation Of Cybersecurity Incident

Potentially impacted U.S. consumers increased by 2.5 million Equifax Inc. (EFX) (NYSE: EFX) announced today that the cybersecurity firm Mandiant has completed the forensic portion of its investigation of the cybersecurity incident disclosed on September 7 to finalize the consumers potentially impacted. “I was advised Sunday that the analysis of the number of consumers potentially impacted by the cybersecurity incident has been ... Read More »

Consumer Credit Data Safe in Australia and New Zealand, says Equifax

The Australian arm of credit analytics firm Equifax has sought to distance itself from a major cyber security crisis engulfing its US parent, which could see the personal data of tens of millions of people compromised. “Please be assured that we have found no evidence that personal information of consumers in Australia or New Zealand has been ­affected by the ... Read More »

Data Protection and Breach Notification Legislation Strengthens Across the Asia-Pacific Region

The shifting landscape in cybersecurity and data protection regulations across the region is a very hot topic.  Asia as a region has lagged behind Europe, in particular, in terms of the development of updated data protection laws. The last few years have seen a real rapid pace of development in this area. We’ve actually had a number of jurisdictions — ... Read More »

Equifax Data Breach Update: A Category 5 Data Breach

Latest Equifax commentary: “Last Thursday evening we announced a cybersecurity breach potentially impacting 143 million U.S. consumers. It was a painful announcement because of the concern and frustration this incident has created for so many consumers. We apologize to everyone affected. This is the most humbling moment in our 118-year history. Equifax Security first discovered the intrusion on July 29. Understandably, ... Read More »