ICYMI in Cybersecurity and Data Breach

Why Is Health Care Cybersecurity So Bad? Blame the Insiders, New Verizon Report Says

As reported originally in Fortune, “a new cybersecurity report from Verizon outlines the stunning degree to which internal actors are responsible for health care data breach threats—whether for personal gain or through sheer human error. ‘Health care is the only industry in which internal actors are the biggest threat to an organization,’ wrote the report authors.” 

Banks Battle Retailers Over Proposal to Disclose Consumer Hacks

Bloomberg reports this week that, “American banks and retailers are sparring over whether financial firms should follow a new national standard to quickly notify consumers when they’ve experienced a data breach.” The proposal would establish a federal mandate for when and how certain companies, like retailers, tell customers about a data breach, but financial institutions, like Equifax, would be exempt because they already have to adhere to the 1999 Gramm-Leach-Bliley Act

Due Diligence on Cybersecurity Becomes Bigger Factor in M&A

The Wall Street Journal reports on the effects an examination into an organization’s cybersecurity practices can have on mergers and acquisitions. Companies are doing their due diligence when looking into a company’s cybersecurity efforts, as a less-than-stellar showing could result in either a lower acquisition price or the deal falling through entirely.