DataBreaches.Net

Menu
  • About
  • Breach Notification Laws
  • Privacy Policy
  • Transparency Report
Menu

FTC Announces Enforcement for Inadequate Third Party Risk Management Practices Under the GLBA’s Safeguards Rule

Posted on December 27, 2020 by Dissent

Hunton Andrews Kurth writes:

On December 15, 2020, the Federal Trade Commission announced a proposed settlement with Ascension Data & Analytics, LLC, a Texas-based mortgage industry data analytics company (“Ascension”), to resolve allegations that the company failed to ensure one of its vendors was adequately securing personal information of mortgage holders. The FTC alleged that Ascension’s vendor, OpticsML, stored documents with information, such as names, Social Security numbers and loan information, pertaining to tens of thousands of mortgage holders on a cloud-based server in plain text without any protections to block unauthorized access. The FTC further alleged that, as a result of the inadequate protections, the cloud-based server was subject to unauthorized access dozens of times.

Read more on Hunton Andrews Kurth.

Enforcement actions under the Gramm-Leach Bliley Act (“GLBA”) Safeguards Rule have been rare, and I am glad to see this one.  Given how many cloud storage leaks or misconfigurations researchers find on a daily basis, maybe a settlement like this one — if it gets enough media coverage — may make some companies a bit more diligent about complying with GLBA and checking their vendor’s security? Or maybe it will take half a dozen more such enforcement actions before enforcement begins to make a dent.  In any event, kudos to FTC for pursuing this issue.

 


Related:

  • Two more entities have folded after ransomware attacks
  • British institutions to be banned from paying ransoms to Russian hackers
  • Global hack on Microsoft product hits U.S., state agencies, researchers say
  • Michigan ‘ATM jackpotting’: Florida men allegedly forced machines to dispense $107K
  • Missouri Adopts New Data Breach Notice Law
  • Qantas obtains injunction to prevent hacked data’s release
Category: Breach LawsBusiness SectorCommentaries and AnalysesFederalLegislationOf NoteU.S.

Post navigation

← Scottish Environment Protection Agency targeted in cyberattack
Finnish Politicians’ Email Accounts Targeted by Cyber Attack →

Now more than ever

"Stand with Ukraine:" above raised hands. The illustration is in blue and yellow, the colors of Ukraine's flag.

Search

Browse by Categories

Recent Posts

  • Scattered Spider Hijacks VMware ESXi to Deploy Ransomware on Critical U.S. Infrastructure
  • Hacker group “Silent Crow” claims responsibility for cyberattack on Russia’s Aeroflot
  • AIIMS ORBO Portal Vulnerability Exposing Sensitive Organ Donor Data Discovered by Researcher
  • Two Data Breaches in Three Years: McKenzie Health
  • Scattered Spider is running a VMware ESXi hacking spree
  • BreachForums — the one that went offline in April — reappears with a new founder/owner
  • Fans React After NASCAR Confirms Ransomware Breach
  • Allianz Life says ‘majority’ of customers’ personal data stolen in cyberattack (1)
  • Infinite Services notifying employees and patients of limited ransomware attack
  • The safe place for women to talk wasn’t so safe: hackers leak 13,000 user photos and IDs from the Tea app

No, You Can’t Buy a Post or an Interview

This site does not accept sponsored posts or link-back arrangements. Inquiries about either are ignored.

And despite what some trolls may try to claim: DataBreaches has never accepted even one dime to interview or report on anyone. Nor will DataBreaches ever pay anyone for data or to interview them.

Want to Get Our RSS Feed?

Grab it here:

https://databreaches.net/feed/

RSS Recent Posts on PogoWasRight.org

  • Congress tries to outlaw AI that jacks up prices based on what it knows about you
  • Microsoft’s controversial Recall feature is now blocked by Brave and AdGuard
  • Trump Administration Issues AI Action Plan and Series of AI Executive Orders
  • Indonesia asked to reassess data privacy terms in new U.S. trade deal
  • Meta Denies Tracking Menstrual Data in Flo Health Privacy Trial
  • Wikipedia seeks to shield contributors from UK law targeting online anonymity
  • British government reportedlu set to back down on secret iCloud backdoor after US pressure

Have a News Tip?

Email: Tips[at]DataBreaches.net

Signal: +1 516-776-7756

Contact Me

Email: info[at]databreaches.net

Mastodon: Infosec.Exchange/@PogoWasRight

Signal: +1 516-776-7756

DMCA Concern: dmca[at]databreaches.net
© 2009 – 2025 DataBreaches.net and DataBreaches LLC. All rights reserved.