Category Archives: business trend

Fantasy Sports Facing Data Security Questions

What data security issues are being bandied about against Fantasy Sports?

  • Communicating with consumers requesting personal information without the use of encryption
  • Asking customers to send sensitive information, such as Social Security Numbers, and credit card images, via unencrypted email

Is ther an investigation? A complaint filed with the FTC 

Daily Dashboard | Daily fantasy sports sites face data security questions

Hidden costs of data breaches. Business Costs.

Case Study: Target. Target’s Securities & Exchange Commission filings show:

  • costs thus far of $290 Million
  • estimated future costs will total $370 Million

Case Study: Anthem Insurance. Anthem’s SEC filings show it cannot estimate the cost of its data breach because:

  • ongoing investigation
  • early stage of legal proceedings progress
  • unknown damages
  • uncertain number of lawsuits that will be filed

In additional to actual costs, there are soft costs to a data breach such as:

  • lost contract…

Tort Reform Issue in Data Breaches.

The key tort issue in data breaches: whether the consumer has been injured

What’s the argument if hackers have your information isn’t that a harm to a consumer? Some courts say yes, other courts say no.

Where are cases proceeding where the harm of the data breach is only having your personal information hacked? Judges in California, Illinois and other states

Wallstreet Journal | For Consumers, Injury Is Hard to Prove in Data-Breach Cases

 

TREND. Auto Data Security. Car Theft by Hacking. 3 Pieces Informed Intel to Protect from New Laws.

How? Via laptop theives can open doors, and start an ignition to steal late model cars prompting new laws against auto manufacturers to secure vehicle data

Is this in Texas? Yes. Houston has recorded theft of a 2010 Jeep

Which manufacturers are targeted? Known hacks of autombilies are of Fiat Chrysler, GM and Tesla vehicles

WallStreet Journal | Thieves Go High-Tech to Steal Cars

Business Trend. Regulatory Guide for Data Safety. 29 Point Data Security Inspection for Business.

The Federal Trade Commission publishes “Start with Security: A Guide for Business” & offers these recommendations for business:

  • Don’t collect personal information you don’t need.

  • Hold on to information only as long as you have a legitimate business need.

  • Don’t use personal information when it’s not necessary.

  • Restrict access to sensitive data.

  • Limit administrative access.

  • Insist on complex and unique passwords.

  • Store passwords securely.

  • Guard…