A recent Ponemon Institute study revealed what a lot of us have been saying for a long time. Despite spending millions of dollars, 79 percent of the IT and IT security staff reported that their ability to identify and stop threats are either non-existent, ad hoc or inconsistently applied throughout the enterprise. The companies participating […]
Continue reading → [DISPLAY_ACURAX_ICONS]IT World Canada ran an article the other day regarding the payment of ransom at the University of Calgary. The piece is almost an editorial as the writer beat the University up for paying the ransom. Here is the story that the article laid out. In June the University was infected with a “significant malware […]
Continue reading → [DISPLAY_ACURAX_ICONS]Whenever I read the news that a data breach has occurred, my first two questions are “how big is it?” and “How long did it go for”. For example, the Omni Hotel chain announced a breach this week and they said it affected 49 out of their 60 hotels, affected 50,000 customer cards, was detected […]
Continue reading → [DISPLAY_ACURAX_ICONS]In what has been a monument to how NOT to handle a data breach, Wendy’s has again revised the number of restaurants affected by hackers. Wendy’s initially refused to release any information about how big the hack was, although bankers were saying that this was hitting them harder than the Home Depot breach did. Then […]
Continue reading → [DISPLAY_ACURAX_ICONS]The Infosec Institute says that malicious cyber activity cost the US between $24 billion and $120 billion and worldwide that number was $300 billion to $1 trillion (see here). And that was in 2013! For investment professionals (and other businesses as well), poor cyber security practices which lead to being hacked can cause a complete […]
Continue reading → [DISPLAY_ACURAX_ICONS]I have written several times about the fight between Cottage Health System and Columbia Casualty, a division of CNA Insurance. In 2013 Cottage’s systems were breached and the private information of thousands of patients was publicly disclosed. Their insurance company paid $4.125 million for costs related to the breach, including a class action lawsuit. That […]
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