A fourth member of an international computer hacking ring has pleaded guilty to conspiring to break into computer networks of prominent technology companies to steal more than $100 million in intellectual property and other proprietary data. Austin Alcala, 19, of McCordsville, Indiana, pleaded guilty to conspiracy to commit computer intrusions and criminal copyright infringement based…
Category: Business Sector
FTC and Wyndham Present Arguments on Whether FTC has Declared Unreasonable Cybersecurity Practices Unfair
Katherine Gasztonyi writes: On Friday, March 27, 2015, the Federal Trade Commission and Wyndham Worldwide Corp. filed supplemental briefing in the Third Circuit regarding whether the FTC had made an adjudicative decision that the FTC Act prohibits unreasonable cybersecurity practices and, if not, whether a federal court could hear a case charging a violation of the FTC Act…
Why Data Breaches Don’t Hurt Stock Prices
Elena Kvochko and Rajiv Pant review the impact of some of the major breaches, noting what we’ve all noted – that breaches generally don’t have a huge economic impact on stock prices. Here’s a snippet from their article: This mismatch between the stock price and the medium and long-term impact on companies’ profitability should be…
More details on the French Lick Resort payment card breach
In January, French Lick Resort in Indiana disclosed a malware-related breach affecting payment card data. On January 31, attorneys for Blue Sky Casino, LLC, the parent company, formally notified the Maryland Attorney General’s of the incident. The notification provides additional details on the incident, including the fact that the firm sent out 87,975 notification letters…
Zappos data breach settlement falls apart over attorneys’ fees
Back in January 2012, Zappos, which is owned by Amazon, disclosed that it had been hacked and that they were notifying more than 24 million customers. Less than one week later, the first lawsuit had been filed. Shortly thereafter, state attorneys general opened their own investigation into the breach. In January 2015, Zappos settled with the…
FL: Hundreds of files with personal information left in Lee County dumpster
Adam Wright reports that more than a dozen boxes of files containing Social Security numbers, driver’s license numbers, and credit card information were found in a dumpster behind a warehouse in Lee County. Schaefer says the files in the boxes belong to the company Coral Palm Auto Sales in Fort Myers. The business in question…