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Category Archives: Cybercrime

Federal Courts Considers FTC’s Data Protection Authority

EPIC – “A federal appeals court heard arguments today in FTC v. Wyndham, an important data privacy case. Wyndham Hotels, which revealed hundreds of thousands of customer records following a data breach, is challenging the FTC’s authority to enforce data security standards. In an amicus brief joined by legal scholars and technical experts, EPIC defended the FTC’s “critical role in safeguarding consumer privacy and promoting stronger security standards.” EPIC explained that the damage caused by data breaches – more than $500 million last year – makes data security one of the top concerns of American consumers. EPIC warned the court that “removing the FTC’s authority to regulate data security would be to bring dynamite to the dam.”

14 Consumer Groups Outline Shortcomings In WH Privacy Legislation

“Consumer Watchdog today joined 13 other public interest groups in a letter to President Obama outlining the shortcomings of the draft Consumer Privacy Bill Of Rights Act and pledging to work with the Administration and Congress to strengthen the “In 2 2012, you released your vision of the founding principles of consumer privacy — theContinue Reading

Legislation to Facilitate Cybersecurity Information Sharing: Economic Analysis

Legislation to Facilitate Cybersecurity Information Sharing: Economic Analysis. N. Eric Weiss, Specialist in Financial Economics. February 23, 2015. “Data breaches, such as those at Target, Home Depot, Neiman Marcus, JPMorgan Chase, and Anthem, have affected financial records of tens of millions of households and seem to occur regularly. Companies typically respond by trying to increaseContinue Reading

Kapersky Lab Reveals Detailed View of Most Advanced Hacking Operation Known

Via ars technica: “… In an exhaustive report published Monday at the Kaspersky Security Analyst Summit here, researchers stopped short of saying Equation Group was the handiwork of the NSA—but they provided detailed evidence that strongly implicates the US spy agency. First is the group’s known aptitude for conducting interdictions, such as installing covert implantContinue Reading

IRS – Identity Protection: Prevention, Detection and Victim Assistance

“Identity theft places a burden on its victims and presents a challenge to businesses, organizations and government agencies, including the IRS. Tax-related identity theft occurs when someone uses your stolen social security number to file a tax return claiming a fraudulent refund. The IRS combats tax-related identity theft with an aggressive strategy of prevention, detectionContinue Reading

The Emergence of Cybersecurity Law

Prepared for the Indiana University Maurer School of Law by Hanover Research | February 2015 “This paper examines cyberlaw as a growing field of legal practice and the roles that lawyers play in helping companies respond to cybersecurity threats. Drawing on interviews with lawyers, consultants, and academics knowledgeable in the intersection of law and cybersecurity,Continue Reading

Financial Industry Regulatory Authority Report on Cybersecurity Practices

FINRA Report on Cybersecurity Practices, February 2015 – Executive Summary – “Like many organizations in the financial services and other sectors, broker-dealers (firms) are the target of cyberattacks. The frequency and sophistication of these attacks is increasing and individual broker-dealers, and the industry as a whole, must make responding to these threats a high priority.Continue Reading

The Impact of the Dark Web on Internet Governance and Cyber Security

Global Commission on Internet Governance, The Impact of the Dark Web on Internet Governance and Cyber Security, Michael Chertoff and Tobby Simon, Paper Series: No. 6, February 2015. “With the Internet Corporation for Assigned Names and Numbers’ contract with the United States Department of Commerce due to expire in 2015, the international debate on InternetContinue Reading

New GAO Reports – Defense Nuclear Facilities Safety Board, Flood Insurance, Identity and Tax Fraud

Defense Nuclear Facilities Safety Board: Improvements Needed to Strengthen Internal Control and Promote Transparency, GAO-15-181: Published: Jan 20, 2015. Publicly Released: Feb 19, 2015. Flood Insurance: Status of FEMA’s Implementation of the Biggert-Waters Act, as Amended, GAO-15-178: Published: Feb 19, 2015. Publicly Released: Feb 19, 2015. Identity and Tax Fraud: Enhanced Authentication Could Combat RefundContinue Reading

Report – 12 Risks that threaten human civilisation

“This report [via Global Challenges Foundation] has, to the best of the authors’ knowledge, created the first list of global risks with impacts that for all practical purposes can be called infinite. It is also the first structured overview of key events related to such risks and has tried to provide initial rough quantifications forContinue Reading

Cybersecurity and Privacy Diligence in a Post-Breach World

Posted by Paul Ferrillo, Weil, Gotshal & Manges LLP, on Sunday February 15, 2015 – The Harvard Law School Forum on Corporate Governance and Financial Regulation. “Editor’s Note: Paul A. Ferrillo is counsel at Weil, Gotshal & Manges LLP specializing in complex securities and business litigation. This post is based on a Weil Alert authoredContinue Reading

Data breaches of over 1 billion records in 2014

CNBC – “Over a billion personal data records were compromised by cyberattacks in 2014, a new report has revealed, driven by high-profile breaches on Home Depot, JPMorgan and eBay. The 1,023,108,267 records breached in 2014 came from just 1,541 incidents, according to the Breach Level Index report by digital security company Gemalto. It marked aContinue Reading