Privacy Beats Ransomware as Top Insurance Concern
Despite ransomware losses remaining high, privacy violations have quickly risen to second in a list of expected cyber insurance claims costs.
Privacy concerns how laws and norms govern personal data, shaping cybersecurity duties for collection, storage, access, and disclosure.
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Background for this topic.
Privacy is the ability of people to control how information about them is collected, used, retained, and disclosed. In technical and legal contexts, it covers identifiable data and data that can support inferences about a person, not only information made public. Privacy rules and organizational policies commonly address purpose, transparency, access, correction, retention, and sharing.
For security practitioners, privacy depends on reducing unnecessary data and restricting legitimate access: data minimization, encryption, least-privilege controls, segregation of identifiers, retention limits, and audit logs all reduce exposure. Compromised credentials, misconfigured storage, excessive telemetry, or third-party access can reveal sensitive information; pseudonymized datasets may also be re-identified when combined with other data. During an incident, teams must establish what personal data was accessed or disclosed, contain further exposure, preserve evidence, and meet applicable notification and handling requirements.
Despite ransomware losses remaining high, privacy violations have quickly risen to second in a list of expected cyber insurance claims costs.
Organizations boost cybersecurity budgets to tackle data-privacy and cloud-security threats amid speedy adoption of generative AI.
Also: Avast Agrees to $16.5 Million Civil Penalty to Settle Privacy InvestigationThis week: more fallout from LockBit, Avast to pay $16.5M, Russia-linked group targeted mail servers, no indication that AT&T was hacked, analysis of a patched Apple flaw, Microsoft enhanced logging, an Android banking Trojan, North Korean hackers and a baking giant fell to ransomware.
Tarun Samtani of International SOS Discusses AI Privacy Implementation PrinciplesIn most organizations, the privacy team plays an important role in artificial intelligence implementation and governance. Tarun Samtani, DPO and privacy program director at International SOS, said privacy principles inherently align with the demand for responsible data use of AI technology.
13,000 Users Received Incorrect Thumbnails; 1,504 Tapped on Them, Risking PrivacyA glitch in Wyze home security cameras permitted thousands of users to catch glimpses inside strangers' homes as its cloud system came back online after an hourslong outage. Around 13,000 Wyze users received thumbnails from cameras that were not their own, and around 1,504 users tapped on them.
GDPR also slashed processing costs by over a quarter Europe's General Data Protection Regulation (GDPR) has led European firms to store and process less data, recent economic research suggests, because the privacy rules are making data more costly to manage.…
Aim Is to Reduce Medical Mistakes and Breaches That Result From Mismatched RecordsA bipartisan pair of congressmen is again attempting to address long-standing issues of patient safety and privacy - as well as medical errors, inadvertent information disclosures and denied medical claims - which all occur when patients and the health records used to treat them do not match.
End-to-end encrypted messaging app Signal finally allows users to pick custom usernames to connect with others while hiding their phone numbers and protecting their privacy. [...]
HHS OCR, NIST Finalize HIPAA Cyber Guide; HSCC Issues Security, Privacy ResourceTwo new guidance resources - one from regulators and the other from an industry council - aim to help healthcare firms strengthen their protection of sensitive patient information and critical IT systems. The publications come as the Biden administration is pushing the sector to up its cyber game.
TikTok is suspected of breaching the EU’s Digital Services Act requirements on transparency, privacy and obligations to protect minors