Post-Breach Share Prices Tumble Nearly 2%*:
- Public limited companies can expect their share price to tumble at least 1.8% following a severe breach, equating to £120m for a FTSE100 firm.
- Oxford Economics studied a sample of over 60 public security breaches outlined in the Gemalto Breach Level Index between 2013 and 2016 and compared the share price performance of the most severe incidents with a control group that didn’t suffer a breach.
- These 'control' organizations are located in the same country, have a similar number of employees and operate in the same sector as those breached firms.
- The true figure is likely to be much higher when breach notification laws are introduced with the European General Data Protection Regulation (GDPR).
- Only around 10%-20% of the major breaches companies suffer in Europe are currently made public.
- Corporations cannot afford to dismiss cybersecurity as a problem which just belongs to the IT department.
- It is crucial for executives to take an active role in understanding the level of cyber-risk they’re exposed to in order to implement an appropriate, effective cybersecurity strategy.
- The impact on share price will be even greater post-GDPR because of the heavy fines set to be levied by the regulation.
- The key for many organizations is to understand the critical information, discover where it is located, and how it is accessed.
*Source: lnfo Security, April 12, 2017
Symantec Attributes 40 Cyber-Attacks to CIA*:
- Past cyber-attacks on scores of organizations around the world were conducted with top-secret hacking tools that were exposed recently by WikiLeaks.
- The files posted by WikiLeaks appear to show internal CIA discussions of various tools for hacking into phones, computers and other electronic gear, along with programming code.
- Symantec said it had connected at least 40 attacks in 16 countries to the tools obtained by WikiLeaks, though it followed company policy by not formally blaming the CIA.
- The CIA tools described by Wikileaks do not involve mass surveillance, and all of the targets were government entities.
- Sectors targeted by operations employing the tools included financial, telecommunications, energy, aerospace, information technology, education, and natural resources.
- Besides Europe, countries were hit in the Middle East, Asia, and Africa.
- All the programs were used to open back doors, collect and remove copies of files, rather than to destroy anything.
*Source: Reuters, April 10, 2017
Hacker Sets Off Every Emergency Siren in Dallas*:
- A hacker set off all 156 emergency sirens in Dallas which wailed for 90 minutes overnight.
- The hacker tricked the system into sending repeated signals 60 times, and has yet to be found.
- The sirens are normally used to warn of severe weather, such as tornadoes.
- Anxious residents deluged the 911 emergency system with phone calls, with 4,400 being made in three and a half hours.
- The city’s mayor said the city would find and prosecute the responsible party, and commented that the city needs to upgrade and better safeguard its technology infrastructure.
*Source: Telegraph, April 09, 2017
Payday Lender Wonga Confirms Data Breach*:
- UK Payday lender Wonga has issued a statement instructing customers to contact their banks as a matter of urgency.
- Personal details from hundreds of thousands of accounts may have been illegally accessed, with reports indicating this number could affect up to 270,000 current and former customers.
- The exposed information may include a customer's name, email address, home address, phone number, the last four digits of a card number, bank account number, and sort code.
- It told customers to reset their passwords only if they are concerned as it believes accounts should be secure.
- Wonga recommended impacted individuals contact their banks and ask them to look for any suspicious activity.
- The Wonga breach comes just months after hackers stole £2.5 million from 9,000 online customers at Tesco Bank.
*Source: ZDnet, April 09, 2017
HHS Data Shows 1,800 Large Data Breaches since 2009*:
- Nearly 1,800 large data breaches involving patient information have occurred since 2009, according to an analysis of publicly available data from the Department of Health and Human Services.
- 257 breaches between October 2009 and December 2016 were reported by 216 hospitals, with 33 suffering more than one breach many of which were large, major teaching hospitals.
- Under HIPAA regulations covered entities are required to notify HHS of any breach affecting 500 or more individuals within 60 days from the discovery of the breach.
- There is no need to report smaller breaches, so the total number of breaches may be significantly higher.
- Hospitals, pharmacies, assisted living facilities, insurance providers, and research institutions must strengthen their security strategy.
*Source: Health Data Management, April 11, 2017
Data on 918K Seniors Exposed on Diabetes Site*:
- A database containing personal information of 918,000 seniors seeking discounts on diabetes supplies was revealed to be exposing its contents for months freely online.
- The seniors provided their personal financial and health information to a program promising them discounts on diabetes supplies.
- The database on which the information was stored ended up exposed to months after a software developer uploaded a backup copy to the internet.
- The database was found by a Twitter user, calling himself ‘Flash Gordon’, on an Amazon Web Services (AWS) instance at an IP address.
- Flash Gordon notified DataBreaches.net – a data security site run by a health care professional – about his discovery.
- They found that the database was from a telemarketer as the data included scripted comments to use when engaging with patients.
- The database included names, addresses, dates of birth, telephone numbers, email addresses, taxpayer IDs, health insurance carrier, policy numbers, and information about what types of health problems.
- Be wary of providing personal information to telemarketers as there's no way to know whether the caller is legitimate.
*Source: SC Magazine, April 11, 2017
Amazon’s Third-Party Sellers Hit by Hackers*:
- Hackers are targeting the growing population of third-party sellers on Amazon.com, using stolen credentials to post fake deals and steal cash.
- Attackers have changed the bank-deposit information on Amazon accounts of active sellers to steal tens of thousands of dollars from each.
- Attackers have also hacked into the Amazon accounts of sellers who haven’t used them recently to post non-existent merchandise for sale in an attempt to pocket the cash.
- The fraud stems largely from email and password credentials stolen from previously hacked accounts.
- Hacks previously have favored sites such as PayPal and eBay, but Amazon recently has become a target of choice.
- While the precise scope and financial impact of the Amazon attacks is unclear, some sellers say the hacks have shaken their confidence in Amazon’s security measures.
- Third-party merchants are critical for Amazon’s business, with more than two million sellers on the site accounting for more than half of its sales.
- Hacks of dormant Amazon seller accounts in particular have increased since mid-March, to more than 20 some days from the low single-digits earlier this year.
- Criminals create thousands of new listings for electronics or other goods at half price and mark them for four-week shipping, hoping to collect payment before Amazon realizes.
- Cybersecurity experts say that in some cases the hackers have been buying account information from previous hacks of other companies.
- To protect against fraud, sellers should be using unique passwords and enable two-step verification, which sends a telephone prompt before allowing a login.
*Source: Fox Business, April 10, 2017