The two data breaches are separate issues, but the common theme is criticism of Oracle's forthrightness about what exactly happened and what victims should expect going forward.
USDoD has a years-long history of data breaches, leaking the stolen information or offering it for sale on hacking forums. This has included some extremely damaging collections of information, the largest of which thus far has been the National Public Data breach.
Marriott International has approved a $52 million FTC settlement to conclude an investigation into over half a decade of data breaches that rocked the hotel franchise.
Numbers drawn from Allianz internal customer data show a 17% increase in the value of cyber claims and a 14% increase in frequency during this period. The central driver is class action lawsuits connected to data and privacy breaches.
ITRC report noted that the 3,205 data breaches recorded last year shatters the prior record of 1,860 and is a 78% increase from a similar number (1,806) seen in 2022.
Organizations found to be responsible for a privacy breach now face a maximum penalty of AUD 50 million, 30% of adjusted annual domestic turnover, or three times the value of any benefit obtained through the misuse of the leaked information.
From 2017 to 2020 the edtech company experienced four serious data breaches, and the FTC finds that this was not simply a run of bad luck but rather an endemic lack of concern for cybersecurity.
Privacy act draft proposes a maximum penalty of the greater of $50 million, three times the value of any benefit obtained through the misuse of information stolen in data breaches, or 30% of the company's annual domestic turnover.
An Indonesia data protection law that has been in development since 2016 includes some of the harshest penalties yet seen in national data privacy regulations, along with a right to compensation for data breaches.
The global average cost of data breach is now $4.35 million, a climb of 13% since 2020. Much of that are expenses realized more than a year after the attack, and most organizations (60%) are passing these added costs on to consumers in the form of higher prices.
