Carphone Warehouse has been fined £400,000 by the Information Commissioner’s Office for a series of “systemic failures” uncovered following a data breach in 2015. The ICO described the “number of distinct and significant inadequacies in the security arrangements” of Carphone Warehouse as “striking”, and said that it was “ particularly concerning that a number of the inadequacies related to basic, […]

The government is to amend the data protection bill to protect security researchers who work to uncover abuses of personal data, quelling fears that the bill could accidentally criminalise legitimate research. The move follows a Guardian report on the concerns, and has been welcomed by one of the researchers who raised the alarm. “I am very […]

Unfortunately, 2017 has been a major year for data breaches. In the US alone, personal information has been stolen for well over 100 million residents. Here’s a look at what are arguably the most damaging hacks and data breaches of 2017 so far. And while they happened in 2017, their effect will likely be felt […]

The States of Jersey have confirmed that the Cyber Essentials certification will be considered a minimum standard for businesses and will be required for data sharing Government contracts from 2018, with it being a requirement of all Government contracts from 2020. They have also announced their Cyber Security Strategy for the Island – read here […]

September 7, 2017 — Equifax Inc. (NYSE: EFX) today announced a cybersecurity incident potentially impacting approximately 143 million U.S. consumers. Criminals exploited a U.S. website application vulnerability to gain access to certain files. Based on the company’s investigation, the unauthorized access occurred from mid-May through July 2017. The company has found no evidence of unauthorized […]

On 22 June 2017, the Financial Conduct Authority (FCA) launched a new fact-sheet entitled ‘Good Cyber Security – the foundations’, aimed at increasing awareness of cyber security risks amongst firms in the financial sector. In particular, the fact sheet draws attention to the increasing rate of cyber attacks and to focus attention on practical steps […]

The JFSC hosted a Cyber Security Masterclass on Thursday 9 March, in partnership with The Security Awareness Special Interest Group (SASIG), The briefing was on the real nature of the cyber threat to the Island and the first steps firms should be taking to defend their organisations. The presentation slides can be found here – http://bit.ly/2n5ciu8

Recent figures indicate that insurance claims for data breaches are being made at an increasing rate. Lloyd’s of London’s underwriting agency, CFC Underwriting, reports that it handled over 400 claims under cyber insurance policies in 2016, an increase of some 78% on 2015. Cyber-breach claim categories Privacy breach 31% Financial loss   22% Ransomware    16% Malware/viruses           […]