business trend – Page 6 – InfoHive

New Report. New Cybersecurity Risk. Ports. 4 Key Points.

The report is by: maritime law firm Jones Walker LLP

What did the report find?

Hacks are happening at ports. 80% of large maritime industry companies (400+ employees) report cyber attack in the last year
Unprepared. 64% say their own companies are unprepared to handle the far-reaching business, financial, regulatory and public relations consequences of a data breach
- 6% of small companies are prepared for a cyberattack (1-49 employees)
- 19% of midsize companies are prepared (49-400…

WHO has to pay $5.79 Million? Uber

WHAT is the $5.79 million settlement for?

a breach exposed personal information, including drivers licenses for 13,000 uber drivers
the company waited roughly 372 days to provide notice
failed to notify the state attorney general within the then required 45 days
$170 will be awarded to each driver

WHERE: Washington State

#1 Google at $16.4 million year to date in 2018
- online advertising
- data privacy
- data security
- self driving cars
Facebook $9.8 million
- high-tech visas
- government surveillance overhauls
- tax
- trade
- privacy legislation
- regulation of online election ads

tech companies should de-identify customer data or not collect customer data
comprehensive federal law is necessary
- why? tech companies that collect a lot of data are basically spies
people should have a right in their data, and a right to have that data minimized
consumers must be told what data is being collected & why
the data belongs to the users and users (consumers) should always have access to it

The gold standard law: GDPR in the EU

What is being proposed? an international organization modeled after the International Committee of the Red Cross that would help in cyber emergencies

How would this work? provide assistance and relief to vulnerable citizens and enterprises affected by serious cyberattacks

Why? Its based on work by tech companies including:

November 2017 a UN speech on cyber security y Brad Smith, Microsoft´s President and Chief Legal Officer
Spring 2018 Microsoft initiated the Cybersecurity Tech Accord
Fall…

Which utility was hit with ransomware? Jacksonville, North Carolina-based Onslow Water and Sewer Authority

when was the ransomware triggered? middle of the night Saturday, “specifically targeted” the utility in the wake of Hurricane Florence

what was the impact of the ransomware?

Clear communication about compliance (35% of businesses say)
Grace periods without penalties when regulations are implemented (31% of businesses)
More time for compliance (17% of businesses)

78% say more cyber security regulations drive more cyber investment in businesses

SEC Commissioner Kara M. Stein raises these policy issues for regulators:

Should a company value its data?
Should it disclose the value of its data?
Who is responsible for the appropriate collection and use of data?
Who is responsible for protecting the privacy of personally identifiable information that is collected and used?
Who is responsible for determining how data can be shared?
Who is responsible for establishing and implementing minimum standards for data collection and use?
Who i…

California’s Internet of Things legislation, SB 327 (2018 | CA), requires consumer goods to:

come with a unique password per consumer good
passwords cannot be set to admin or password
in the alternative, consumer goods can require a statup procedure that requires the consumer to set a password

Which tech giants are we talking about? Facebook, Apple, Alphabet and Amazon

What is the opposition to the Australian encrypted data law?

giving law enforcement access, creates tools that weaken encryption & is a huge risk to our digital security
oppose back-door access to their user’s data
5 nations in the Five Eyes nations are expected to follow suit: Australia, New Zealand, Great Britain, US and Canada