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Data Breaches

Interior view of the House of Representatives in Parliament House, Australia showing penalties for privacy breaches
Data ProtectionNews

Privacy Breaches to Cost More in Australia as Maximum Penalty Increases to AUD 50 Million

December 14, 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.
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Edtech company Chegg website with logo showing FTC complaint of data breaches
Cyber SecurityNews

FTC Takes Legal Action Against Edtech Outfit Chegg Over Years-long String of Data Breaches

November 9, 2022
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.
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Judge gavel near Australia flag showing privacy act changes from data breaches
Data ProtectionNews

Data Breaches To Become More Costly in Australia as OAIC Calls for Higher Penalties in Privacy Act Draft

October 28, 2022
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.
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Jakarta downtown skyline with high-rise buildings at sunset showing Indonesia data protection law to counter data breaches
Data ProtectionNews

Indonesia Data Protection Law Includes Potential Prison Time, Asset Seizure, Right to Compensation for Data Breaches

September 28, 2022
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.
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Woman doing calculation of cost of data breach
Cyber SecurityNews

IBM Annual Cost of Data Breach Report 2022: Record Costs Usually Passed On to Consumers, “Long Breach” Expenses Make Up Half of Total Damage

August 1, 2022
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.
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Businessman chooses the padlock icon showing data breaches and security culture
Cyber SecurityInsights

We’re Spending Billions Each Year on Cybersecurity. So Why Aren’t Data Breaches Going Away?

August 1, 2022
Why despite the fact that businesses and governments spend billions of dollars to fight cyber attacks are businesses continuing to fall prey to data breaches? Companies must build and sustain a strong security culture.
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Businessman typing on keyboard to input username and password showing authentication methods for financial institutions
Cyber SecurityNews

80% of Financial Institutions Had a Breach Due to Legacy Authentication Methods, but Most Refuse to Upgrade

July 28, 2022
Researchers found that although 80% of financial institutions suffered data breaches per year from vulnerabilities in their authentication methods, 64% refused to upgrade.
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Closeup of an empty conference room before board meeting meeting showing data breaches litigations
Cyber SecurityInsights

Avoiding Data Breaches: A Guide for Boards and C-Suites

May 4, 2022
Litigation against corporate board members and C-level executives for data privacy and security claims is on the rise. Recently, plaintiffs have targeted corporate board members and C-level executives alleging that their data privacy–related claims result from a breach of fiduciary duties.
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Meta logo on phone screen against background with Facebook logo showing GDPR fine for data breaches
Data ProtectionNews

New GDPR Fine for Meta: €17 Million for Facebook GDPR Violations Tied to a Dozen Data Breaches

March 21, 2022
Facebook’s new €17 million GDPR fine stems from a failure to demonstrate that adequate security measures were in place to prevent the data breaches in 2018.
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Piggy bank with cash and coins showing cost of data breach
Cyber SecurityNews

Average Cost of Data Breach Hits Record High, Costs Multiply When Remote Work Is a Factor

August 3, 2021
The average cost of data breach has hit an all-time high, up almost 10% from last year to $4.24 million. That average cost increases greatly when remote workers are involved (to $4.96 million).
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Girl holding smartphone with TikTok showing transparency center to stop government bans

TikTok Opens Transparency Center in Bid to Head off Government Bans

Vehicles in motion on busy motorway showing digital license plates to track vehicles

Digital License Plates: Will This New Way to Track Vehicles Enhance or Undermine Privacy?

Bank of England building showing UK financial regulator stress test report on cyber insurance

UK Financial Regulator: Country’s Cyber Insurance Providers Lack Consistency in Risk Assessments, Modeling Capability

Financial charts showing LockBit ransomware attack impact on derivative trading

ION Group Ransomware Attack Impacts Derivative Trading in Global Markets

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