ICYMI in Cybersecurity and Data Breach

NC Data Breach Legislation Accounts for Ransomware Attacks

“Following an increase in reported state data breaches in 2017, North Carolina’s attorney general and a state representative introduced data breach legislation to better protect individuals,” HealthIT Security reports.

World Economic Forum: Cyber-Attacks Third Most Likely Global Risk in 2018

In Davos earlier this week, the World Economic Forum released its Global Risk Report 2018, which concluded that “Cyber-attacks are the third most likely global risk for 2018, behind extreme weather conditions and natural disasters.” InfoSecurity reported that “It is the first time that cyber-attacks per se have made the Forum’s top five global risks in terms of likelihood since 2014, with data fraud or theft also listed in fourth place this year.”

FTC Releases Annual Privacy and Data Security Update

The Federal Trade Commission released its annual report on Thursday summarizing its privacy and data security work in 2017. The Commission is the nation’s primary privacy and data security enforcer and one of the most active privacy and data security enforcers in the world.

AMD Hit With Investor Suit Over Chips' Vulnerability

Law360 reports this week, “Chipmaker Advanced Micro Devices Inc. downplayed its vulnerability to a recently revealed security flaw dubbed Spectre, causing shares to drop when the company disclosed the true extent of its chips' susceptibility, says a proposed class action filed in California federal court Tuesday.

Senate Democrats Introduce Data Breach and Prevention Compensation Act of 2018

“United States Senators Elizabeth Warren (D-Mass.) and Mark Warner (D-Va.) Thursday introduced the Data Breach Prevention and Compensation Act to hold large credit reporting agencies (CRAs) - including Equifax - accountable for data breaches involving consumer data. The bill would give the Federal Trade Commission (FTC) more direct supervisory authority over data security at CRAs, impose mandatory penalties on CRAs to incentivize adequate protection of consumer data, and provide robust compensation to consumers for stolen data”, according to the press release from Senator Warren’s office.

View the full bill here.