Join me, Stoel Rives’ Chief Information Security Officer (and Global Privacy & Security Blog® author) Jon Washburn, for a panel discussion in which I will partner with top industry CISOs and CIOs to address the most pressing cybersecurity challenges of 2021. Register now for free for the Seattle & Portland Virtual Cybersecurity Summit
Don’t let Cyber Insurance be Your Cybersecurity Plan
In a recent letter to insurers, the New York State Department of Financial Services (“NYDFS”) acknowledged the key role cyber insurance plays in managing and reducing cyber risk – while also warning insurers that they could be writing policies that have the “perverse effect of increasing cyber risk.” If a cyber insurance policy does not…
Digital Transformation – Cybersecurity Lessons from Recent Lawsuits
Digital transformation, the process of leveraging technology, people and processes to innovate, requires an “all-in, ongoing commitment to improvement.” But the main drivers of digital transformation – data and profits – don’t always mesh seamlessly.
As shown by recent class actions filed against Blackbaud and Morgan Stanley, and a settlement with the New York Attorney General by Dunkin’ Brands, digital transformation has numerous cybersecurity issues that present legal obligations and potential liability.
In May, Blackbaud, Inc., a company that provides cloud software services to thousands of non-profits including hospitals, suffered a ransomware attack. In July, it began informing its users of the attack, many of whom used Blackbaud to process personal and sensitive information.
On August 12, the first of many lawsuits was filed against Blackbaud. Among the allegations in the lawsuit, Blackbaud is accused of failing to properly monitor its computer network and systems, failing to implement policies to secure communications, and failing to train employees.
The five years prior to the attack are telling. In that timeframe, Blackbaud underwent a digital transformation that involved acquiring numerous other software platforms including a predictive modeling platform, and a software provider focused solely on corporate giving.
Since the ransomware attack, Blackbaud has published cybersecurity improvements that support adherence to industry standards for incident management, employee training, systems and network testing, risk assessments, application security, encryption, and end-user authentication.…
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Securing Online Shopping has Never Been More Important
In the wake of the COVID-19 pandemic, more consumers than ever before are shopping online – and they’re not likely to be very forgiving to any retailer that breaches their personal information. According to this recent survey from payment solutions provider PCIPal, 64% of people in the US would avoid a business following a COVID-19…
Is Your Incident Response Plan Ready for Novel Computer Viruses?
A “novel” virus is one that has not been previously identified, according to the Centers for Disease Control and Prevention. In 2000, like the COVID-19 virus that was officially named on February 11, 2020, the ILOVEYOU virus became a global pandemic for data systems. Within days, millions of computers were infected as the virus compromised files and caused widespread email outages. The virus appeared in inboxes as fake messages with infected attachments:
Since then, scores of novel viruses have been deployed as destructive malware. The ILOVEYOU virus, MyDoom worm, SOBig spam, and WannaCry ransomware alone are said to be responsible for $95 billion in financial damages. As a result, anti-virus software has become a multi-billion-dollar, must-have computer program, and cybersecurity has become a multidisciplinary industry fighting an evolving threatscape.
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Soon, All Ransomware Attacks May Be Data Breaches
As this recent article illustrates, many ransomware operators are now collecting information from victims before encrypting their data, and then threatening to release what they’ve collected – or actually releasing some of it – to increase the chance they’ll get paid. There have been many cases already where at least a portion of data has…
Your Security Program Must Think Beyond Malware Protection
According to Crowdstrike’s most recent Global Threat Report, in 2019 they observed that malware-free attacks – attacks where malicious files are not written to disk – outpaced malware attacks by 51% to 49%. In Malware-free attacks, the attackers leverage Tactics, Techniques and Procedures (TTPs) that are less likely to be detected by traditional anti-malware…
Utah Considers a Cybersecurity Safe Harbor as Ransomware Runs Riot
Last year the FTC mandated what an organization’s written cybersecurity program should include to avoid being deemed “unfair and deceptive” to consumers, and this year California consumers whose personal information is compromised may file lawsuits against organizations that failed to implement “reasonable security.”
But several states provide legal safe harbors to organizations with written cybersecurity programs. Now, Utah is considering joining them. Under House Bill 158, referred to as the Cybersecurity Affirmative Defense Act (the “Proposed Act”), if at the time of a data breach a covered entity has created, maintained, and complied with a written cybersecurity program it has an affirmative defense to a civil tort claim.
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NIST Releases a Standard for Privacy
As states fill the legal void for consumer privacy rights, a new federal standard has emerged to assist companies with their compliance efforts. The National Institute of Standards and Technology (“NIST”) Privacy Framework (“PF”) was released last month to help organizations manage the risks associated with their data processing activities.
What the PF Does…
Trickbot and Emotet Financial Malware Now Attacking the Healthcare Industry
In a recent Cybercrime Tactics and Techniques Report focusing on the health care industry, cybersecurity company Malwarebytes discovered a significant 82% spike in Trojan malware attacks on health care organizations in Q3 2019. Emotet and TrickBot, two especially sophisticated and dangerous forms of malware, were mostly responsible for this surge.
Used primarily as ’banking…
Cyber Risk Update for Construction Companies
Scammers are always seeking new ways to target victims for Business Email Compromise (BEC) scams, where they leverage email to try to convince you to give them credentials, send them confidential information like W2s, send them money by changing things like direct deposit instructions, or give any other data that can help them profit from…