Dom DiFurio reports: In October, four companies collectively paid nearly $7 million as part of a settlement with the Securities and Exchange Commission for allegedly failing to properly inform investors of a cyberbreach affecting their companies, a liability American businesses have not previously faced. The companies were compromised in a cyberattack targeting their IT software provider in…
Category: Legislation
Bill raising the bar for class-action suits in data breach incidents advances
Rural Radio reports: A measure that would raise the bar for filing class-action lawsuits in state courts against private entities that suffer a cybersecurity breach has received first round approval in the Nebraska Legislature. Lawmakers spent a considerable amount of floor debate Tuesday and today discussing LB 241, which would require willful, wanton, or gross…
Attorney General James Releases Statement on DOGE Access to Sensitive Personal Information
When DataBreaches said, “Send in the lawyers” to sue Musk, she was thinking of personal injury lawyers who handle data breach litigation. But 14 state attorneys general may be even better. From NYS Attorney General Letitia James: NEW YORK – New York Attorney General Letitia James today led a coalition of 14 attorneys general in…
Attorney General James Secures $450,000 from Companies Selling Home Security Cameras that Failed to Secure Private Videos
NYS Attorney General has been the most active state attorney general in terms of going after entities that don’t secure data properly. The following is from her latest press release: NEW YORK – New York Attorney General Letitia James secured $450,000 from three companies that distribute eufy home security video cameras for failing to secure consumers’…
KuCoin Agrees to $297 Million Settlement Over Regulatory Breach
Jimi Aki reports: KuCoin, a major cryptocurrency exchange, has been hit with a $297 million settlement after admitting to a regulatory breach in the United States. The settlement includes a criminal fine of $112.9 million and a forfeiture of $184.5 million, and KuCoin will be required to exit the U.S. market for at least two…
Proposed Turkish Law Could Mean Prison for Reporting Data Leaks
Graham Cluley writes: The Turkish government is proposing a controversial new cybersecurity law that could make it a criminal act to report on data breaches. The new legislation proposes penalties for various cybersecurity-related offences. But the key one which has people concerned is this: “Those who carry out activities aimed at targeting institutions or individuals…