In a recent press release the US Federal Trade Commission (FTC) has once more stressed the importance of good incident response and breach disclosure as part of a reasonable information security program, which is also underlined in some of its guidelines. The FTC underlines that when security breaches do occur, timely, accurate, and actionable security...
The US medical supplies company Solara suffered an incident in 2019 which reportedly affected more than 114,000 patients and also some of its employees. The breach involved personal identifying information (PII) and protected health information (PHI), where cyber criminals had accessed Solara’s Microsoft Office 365 accounts. Solara’s investigation confirmed that the accessed email accounts contained...
The press release of the Eastern District of New Your, US, reports that a criminal complaint was unsealed charging an alleged Venezuelan cyber criminal, known in the web as “Nosophoros,” “Aesculapius” and “Nebuchadnezzar,” with attempted computer intrusions and conspiracy to commit computer intrusions. The charges stem from his use and sale of ransomware, as well...
The US National Institute of Standards and Technology (NIST) has published the updated cybersecurity supply chain risk management (C-SCRM) guidance to support organizations develop an effective program for identifying, assessing, and responding to cybersecurity risks throughout the supply chain. Find the guidance here.
The California Assembly Judiciary Committee voted to advance a Bill to protect children from online addiction. This Bill, the Social Media Platform Duty to Children Act, would impose on an operator of a social media platform a duty not to addict, as defined, child users and would, among other things, prohibit a social media platform...
The Connecticut Senate has voted unanimously to pass a consumer privacy bill which is generally modelled on the Colorado Privacy Act (CPA) of 2021 with some differences such as providing for greater children’s data privacy rights. The bill will now be submitted to the House of Connecticut. Find the bill here.
Fitch reports that cyber insurance sees rapid premium growth and contemporarily declining loss ratios, representing the fastest growing segment in the US. In 2021, the standalone and packaged cyber statutory direct written premiums increased by a staggering 74% in 2021 to nearly $5 billion compared with 9% growth for the property/casualty (P/C) industry overall. Find...
According to Bloomberg, Federal Reserve System Chairman Jerome Powell stated that ensuring user privacy is critical for a potential central bank digital currency in the United States. Powell stated during a virtual panel discussion hosted by the Bank for International Settlements Innovation Summit that a digital currency system must also be capable of verifying an...
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