Hackers Data Breach

News & Analysis as of

Russian Intelligence Breaches Democratic National Committee Servers

Last week saw the announcement of yet another high-profile network breach. On June 14, 2016, the press reported that hackers had penetrated the Democratic National Committee’s (“DNC”) network for nearly a year. Most notably,...more

Does Your Company Have Coverage for PCI Fines & Penalties in its Cyber Policy?

Payment Card Industry fines and penalties are fines charged by payment card brands like Mastercard and Visa to merchants’ acquiring banks for violation of their industry rules and regulations, which often occurs when there is...more

Data Breaches Response Costs Continue to Rise

SEC Chair Mary Jo White recently opined that cyber security is the biggest risk facing the United States financial system. Companies should take heed of that warning in light of the release of the 2016 Cost of Data Breach...more

Raytheon/Ponemon survey confirms companies wait until an event to hire a data security vendor

The results of a Raytheon commissioned Ponemon study released on June 7, 2016 shows that at least two-thirds of businesses wait until they have experienced a cyber-attack or data breach to hire and retain security vendors to...more

SEC Fines Morgan Stanley for Data “Breach”

Last week, the SEC fined Morgan Stanley $1 million for two data security failures resulting in the exposure of personal information of 730,000 of its customers. Andrew Ceresney, the director of enforcement at the SEC stated,...more

Courts Continue to Grapple with Data Breach Claims

Our last few blogs have focused on litigation under the Video Privacy Protection Act, including the recent ruling from the 10th Circuit in Yershov v. Gannett Satellite Information Network, Inc., 2016 U.S. App. LEXIS 7791 (1st...more

Illinois Joins the Fray: Strengthens its Laws Around Data Breach Notification and Data Security

Sophisticated phishing scams and muscular hacking efforts continue to compromise personal and sensitive information held by insurers, hospital systems, and businesses large and small. In response, many states have...more

US-CERT Warns of Old SAP Software Vulnerability

The U.S. Department of Homeland Security Computer Emergency Readiness Team (US-CERT) recently issued an alert to the public about a vulnerability in old software developed by SAP SE that cyberattackers are using to infiltrate...more

Credit Card Issuers Cleared to Proceed Against Home Depot

Recently, a federal judge in Georgia ruled that the class action filed against Home Depot by the credit card companies could proceed. The judge stated that the card issuers’ allegations that Home Depot was negligent in its...more

FBI Report: Ransomware and Phishing Scams Increasing

We can’t go a week without commenting on how rampant ransomware is in the industry. The FBI recently released a report confirming how devastating ransomware has become for U.S. businesses....more

U.S. House Committee On Homeland Security Holds Hearing On States’ Preparation For Cyber Threats

On Tuesday, May 24, 2016, the U.S. House Committee on Homeland Security (the “Committee”) held a hearing titled “Enhancing Preparedness and Response Capabilities to Address Cyber Threats.” The hearing was convened jointly by...more

Federal District Court Finds No Cyber Insurance Coverage For Costly Credit Card Fraud Assessments

In one of the first court decisions to analyze in depth the coverage provided by a cyber policy, a federal judge has found that PF Chang’s policy came up short. Following a 2014 data breach in which hackers accessed and...more

Burr Alert: Two Federal Courts of Appeal Find Insurance Coverage for Data Breaches

Cases with intersecting issues of data breach and insurance coverage continue to slowly wind their way through the court system. After a number of past losses dealt to insureds who sought insurance coverage under their...more

Kansas Heart Hospital pays ransom but attackers renege on their word

In a rare and twisted result, Kansas Heart Hospital was hit with a ransomware attack on May 18th, and made the decision to pay a “small amount” to the attackers in order to get its data back. Kansas Heart stated that no...more

First Choice Federal Credit Union vs. Wendy’s : Will Plaintiff’s EMV Arguments Get A Frosty Reception?

Wendy’s suffered a data breach in the fall of 2015 that it recently reported affected one particular point of sale system at fewer than 300 restaurants. Wendy’s has already been sued as a result of the incident, including a...more

Experian sponsors Ponemon study on data breach

Experian Data Breach Resolution sponsored a recently released Ponemon Study entitled “Managing Insider Risk through Training & Culture.” The report is quite timely in light of all of the recent successful W-2 phishing...more

Hacked and Left Holding the Bag - Cyber Liability Issues

If you read any newspaper, trade publication or twitter feed, you know that ongoing concerns regarding cyber security continue to grow. We have seen an article in the New York Times discussing hacking of major law firms with...more

Noodles & Company alerts customers of credit card compromise

According to Noodles & Company (“Noodles”), it received information from Visa that Visa cards used by customers at its fast-food chains since January have “possibly” been compromised. It is presently investigating unusual...more

Your daily dose of financial news The Brief – 5.27.16

New evidence uncovered by the digital security firm Symantec suggests that the recent series of Swift-based bank hacks may be linked to North Korea in what “appears to be the first known case of a nation using digital attacks...more

O’Charley’s diners warned of payment card data breach

Diners who used credit and debit cards at the Tennessee based O’Charley’s restaurants between March 18, 2016, and April 8, 2016, were notified by O’Charley’s of a data breach that affected its point of sale systems. Consumers...more

8th Circuit Upholds Data Breach Coverage for Bank Loss Following Hacker’s Fraudulent Transfer

Last week, the Eighth Circuit upheld a lower court’s ruling in State Bank of Bellingham v. BancInsure Inc., finding that a bank employee’s negligence in securing its computer network did not preclude coverage for a data...more

LinkedIn admits that 2012 data breach in fact affected 117 million users’ data

A LinkedIn data breach in 2012 supposedly exposed 6.5 million LinkedIn users’ hashed passwords. LinkedIn announced yesterday (May 18, 2016) that in fact, it impacted more than 177 million user accounts, and that the...more

Cyber-Security and the Rise of the Vigilante Hacker - Can illegally obtained data be used in a civil proceeding?

In the world of cyber hacks and leaks, there are two general categories of players: the fraudsters who steal data in order to obtain a profit, and the “hacktivists” who expose data, purportedly for the greater good....more

New Study confirms that 9 out of 10 businesses have experienced a hacking incident in the last year

Hartford Steam Boiler released a study on May 17, 2016, that states that nine out of ten businesses have experienced at least one hacking incident in the past year, which represents a 21 percent increase since 2014....more

Wendy’s confirms data breach of point of sale system

Wendy’s confirmed yesterday in its first quarter financial statement that its investigation into a credit card breach did uncover malicious software on its point of sale systems on fewer than 300 of its stores nationwide. It...more

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