Security News

IBM found that it takes on average 277 days to discover a security breach and costs businesses an average of $4.35 million per breach. The time-to-discovery can blindside companies, and with a recession looming, this is not the time for them to be unprepared.

DOUG. Break out the old tag in HTML, make it blink a little bit? [LAUGHS]. DUCK. Doug, for a moment, I was worried you were going to use the word [LAUGHS] .

Australian health insurance provider Medibank has confirmed that another batch of the customer data stolen in the recent breach has been leaked. Medibank is making an effort to minimize the bad news, somewhat, by saying that much the data leaked is incomplete and hard to understand.

The Australian parliament has approved a bill to amend the country's privacy legislation, significantly increasing the maximum penalties to AU$50 million for companies and data controllers who suffered large-scale data breaches. Previously, the penalty for severe data exposures was AU$2.22 million, considered wholly inadequate to incentivize companies to improve their data security mechanisms.

The Australian government has passed a bill that markedly increases the penalty for companies suffering from serious or repeated data breaches. To that end, the maximum fines have been bumped up from the current AU$2.22 million to AU$50 million, 30% of an entity's adjusted turnover in the relevant period, or three times the value of any benefit obtained through the misuse of information, whichever is greater.

The Australian government has passed a bill that markedly increases the penalty for companies suffering from serious or repeated data breaches. To that end, the maximum fines have been bumped up from the current AU$2.22 million to AU$50 million, 30% of an entity's adjusted turnover in the relevant period, or three times the value of any benefit obtained through the misuse of information, whichever is greater.

A company's supply chain is like a body's nervous system: a mesh of interconnected manufacturers, vendors, sub-contractors, service delivery firms, even coding and collaboration tools. A recent study by NCC Group estimated that supply chain attacks increased by 51% in the last six months of 2021, and the BlackHat 2022 conference featured a number of talks highlighting the vulnerability of supply chains not just between companies connected by business operations, but also software coding practices.

The U.S. Federal Trade Commission has sued education technology company Chegg after exposing the sensitive information of tens of millions of customers and employees in four data breaches suffered since 2017. The agency's proposed order would require Chegg to shore up data security, implement multifactor authentication to help users secure their accounts, limit collected and stored customer data, and allow customers to access and delete their data.

After suffering two large, and embarrassing, data breaches in recent weeks, the Australian government increased the fine for serious data breaches from $2.2 million to a minimum of $50 million. The problem is one of incentives, and Australia has now increased the incentive for companies to secure the personal data or their users and customers.

The City of London Police on Friday revealed that it has arrested a 17-year-old teenager from Oxfordshire on suspicion of hacking."On the evening of Thursday 22 September 2022, the City of London Police arrested a 17-year-old in Oxfordshire on suspicion of hacking," the agency said, adding "He remains in police custody."