Ponemon Institute released its annual data breach informatics. The cost of an average daa breach has risen to $7 million.
Law 360 | Data Breach Costs Rise To $7M Per Incident, Study Says
Category Archives: business trend
Data Breaches. Construction Industry. 3 Pieces of Intel.
- Data breaches are costly
- internal costs related to security improvements, mitigation & notification
- regulatory costs
- costs arising from 3rd party claims
- Identify risks, which for construction include:
- file sharing with subcontractors
- espcially for projects critical to infrastructure- hospitals, roads, energy facilities, governmetn facilities
- Cyber Insurance to help your business cover costs
Miami Herald | Cyberattacks can cripple the construction industry
TREND Consumer Protection Agencies. Corporate Privacy Policies. New Regulations.
Who: Federal Trade Commission
What: Amendments to how companies disclose privacy policies & information to consumers
When: Begins this fall
Standard of Review: The FTC favors corporate disclosures to consumers that are:
- shorter
- clearer
- easier-to-use
The Hill | Consumer protection agency to look at disclosure issues
Business TREND. Data Security Helps Business.
4 Key Pieces of Intel from how strong data security laws protect businesses:
- Global market. EU contracts require strong data protections clauses
- U.S. weak data security laws create uncertainty in the global market
- Cost Opportunities. What might cost small companies to comply in the short run, the harm to innovation of not having high data standards cost U.S. businesses more.
- U.S. should be a leader in data security standards.
Banking Regulator Announces 2 New Data Security Initiatives
The FDIC announced on May 9th, 2 new data security initiatives:
- improved software to force encryption of portable devices
- hiring of a third party to assess FDIC information technology security and privacy programs
Bloomberg BNA | FDIC Takes New Initiative on Data Security Following Breaches
Executive GOV | FDIC Plans New Security Measures After Retroactive Data Breach Report
FBI Advice. Ransomeware Data Breach Attack.
The FBI advice for ransomeware attacks, which hold a businesses data hostage for a ransom:
DO NOT PAY THE RANSOM.
Refresh my memory, what are some of these ransomeware attacks? Several hospitals in California have had their systems frozen by ransomeware, forcing a move to manual paper hospital administration. The ransoms have been as small as $8,000.
INTERIM. LegeTrend: State Moves to Cloud Computing. Data Security. New Procurement Opportunities.
Your informed intel:
Which state is making a move to cloud computing that is triggering data security issues and new procurement opportunities? Arizona
What procurement opportunities does the move trigger?
- Opportunities for cloud based computing storage
- Opportunities for data security firms
Which data security standards will be required? All new procurement contracts and state data centers will have to meet standards contained in:
-
Health Insurance Portability and Accountability…
3rd Party Tax Collectors. 2 Data Security Issues.
Why is there a data security issue with 3rd party tax collectors? 3rd party tax collectors receive taxpayer information from taxing jurisdictions
Why is does this raise data security risks? data theft is on the rise & businesses aren’t keeping up with data security protocols to protect taxpayer information
Accounting Today | Saying No to Outside Agencies in Tax Collections
INTERIM. 5 Bits Intel to Know about Stakeholders in Cyber Security Banking & Retailer Legislation.
Let’s peak into the Electronic Payments Coalition:
Electronic Payments Coalition- who are they?
- payments industry stakeholders
- credit unions
- community banks
- trade associations
- payment card networks
- banks
What’s the point of the EPC?
- EPC protects the value, innovation, convenience, security and competition that exists in the modern electronic payments system
What’s the EPC saying about the federal Data Security Act of 2015 (H.R. 2205)?
- Retailers are wrong about their…
Attorney General Opinion: Data Retention. License Plate Readers. Procurement FAIL.
What is the question answered by Attorney General Opinion KP-0076? Whether Bowie County can engage a private company to use a license plate reader data looking for vehicles that don’t have liability insurance?
Is there a fee splitting arangement in this scenario? Yes, the vehcile owner will get a letter from the District Attorney office, and fees will be split 50-50 between the County and the company.
Can this fee splitting arrangement with automatic license plate readers…