Username and password login fields, online security
Usernames and passwords were exposed in a number of reported data breaches.

According to the monthly report from the Identity Theft Resource Center, the health care industry suffered more data breaches in January than government, educational and financial sectors combined.

Medical and health care-related data breaches accounted for 26.7 percent of the verified 116 data breaches in early 2018. The report defines a breach as a cybersecurity incident in which personal information such as emails, medical records, Social Security numbers or driver’s license information, is exposed and made vulnerable to risk.

While the report identifies “Business” as the sector most affected by data breaches, the category broadly encompasses many types of major service providers in retail, hospitality, trade, transportation and other industries.

For more detailed statistics of data breaches by industry, download the ITRC report.

The U.S. Treasury’s Office of the Comptroller of the Currency is out with its first Semiannual Risk Perspective report under Trump appointee Joseph Otting.

It’s not terribly rosy from a cybersecurity perspective, reports Bloomberg News.

The Comptroller’s office singled out cyberattacks as an increasing risk: “U.S. Banks are facing a growing threat from cyberattackers and making defense against them more complex by relying on third-party firms for support,” Bloomberg reports.

In addition, banks are facing attacks from hackers that exploit weaknesses in clients’ security, the report says. Click here to read the full text of the Semiannual Risk Perspective. The section on cybersecurity is on pages 14 and 15.

British businesses are stockpiling Bitcoin to payoff ransomware hackers, according to a ZDNet report.

Ransomware is a form of malware that can freeze a company’s data. It allows hackers to demand a payoff in cash — or Bitcoin — in return for restoring a business’s functionality.

In the wake of the WannaCry hacking attacks, which crippled the UK’s National Health Service, British business leaders may prefer to pay a ransom rather than disclose data breaches and suffer through government audits, fines, customer dissatisfaction and reputational damage.

Even as Bitcoin prices have fluctuated around $18,000, some companies are loading their virtual wallets and bracing for the demand of a payoff.

Read the full article.

 

When it comes to cybercrime, not even your favorite app store is safe.

The International Business Times reports that fake mobile applications carried by the most popular app stores often pose phishing and malware threats. Hackers create the apps to control parts of users’ mobile phones, flood devices with spam ads and steal personal information.

They’re not always easy to spot. The more sophisticated counterfeits are designed to resemble legitimate games, e-commerce portals and social media apps. A fake version of WhatsApp, named “Update WhatsApp Messenger” had more than one million downloads before it was flagged and removed from one provider’s app store.

For information how to recognize fake apps and tips for users who have already made the mistake of downloading one, click here to read the full story.

The Financial Times reports that many nonprofits are vulnerable to cyberattacks.

Many charities simply don’t want to invest time and money defending against hackers. A 2016 study found about half of nonprofits had not conducted a cyber risk assessment, and two thirds had no plans to increase spending on data security. But hackers don’t give nonprofits a pass. The article tells the story of a small, Indianapolis, Indiana-based cancer charity that lost all its client data in a ransomware attack.

“While it is not surprising that charities want to spend scarce resources on housing the homeless or feeding the hungry, some argue that those very services could be at risk if they fail to invest in cyber security tools and practices,” according to The Financial Times report.

A new study notes that despite record spending on cybersecurity, overconfidence may be hurting companies’ ability to protect against data breaches.

Tech publication Information Week reports that the survey of IT professionals, by security firm Gemalto, showed that while 94 percent of respondents said their perimeter security was effective, nearly a third reported breaches within the last 12 months. Surprisingly, 14 percent said they would not trust their own organization to safeguard their personal data.

Why the disconnect? Experts interviewed by Information Week chalked it up to a lack of understanding of cybercrooks’ motivations, and a general lack of knowledge about cybersecurity in corporate C-suites. Click here to read the full story.

It wasn’t a good week for credit reporting agency Equifax, which admitted to a major data breach affecting more than 143 million people.

Consumers’ data was exposed over three months via a vulnerability in a web application, the company said in a press release announcing the breach.

The breach was covered by every major news outlet, but Data Breach Today‘s Jeremy Kirk raises some interesting questions about Equifax’s notification strategy in this piece.

For the latest in breach response protocol in all 50 states, download Data Breach 411, a free app developed by Fox Rothschild’s Privacy & Data Security practice, available in the iTunes Store.

Cybercrooks’ preferred path to critical data is through privileged accounts, those held by users who have broad access and powers within the target’s network.

That’s according to a recent survey conducted by the cybersecurity firm Thycotic at the recent Black Hat conference in Las Vegas, reported Infosecurity Magazine.  About a third of respondents named privileged accounts the fastest and easiest path to critical data, while user email accounts were a close second at 27 percent.

Some 85 percent said human error, not inadequate security or unpatched software, was most to blame for security breaches.

Hackers’ biggest headaches? Multifactor authentication and encryption, according to the survey.

 

 

 

 

 

Data privacy and securityFox Rothschild partner and firm Chief Privacy Officer Mark G. McCreary sees a trend: Law firms are increasingly recognizing that naming a lawyer to lead data security and privacy efforts is “an essential ingredient in good risk management.”

In an article for Law360 entitled “Notes From A Law Firm Chief Privacy Officer: CPO vs. CISO,” McCreary writes:

“To understand the role of the CPO — and why that person ought to be a lawyer — it’s important to distinguish the role they fill from that of the chief information security officer or CISO, who is typically a nonlawyer and leads the firm’s information technology department.”

We invite you to read his full article.

 

A German cybersecurity firm reports that manufacturers have become a top target of cybercriminals.

The NTT Security Global Threat Intelligence Center (GTIC) Quarterly Threat Intelligence Report for the second quarter of 2017 notes that manufacturers were targeted in 34 percent of incidents, the highest of any industry segment. About a third of those incidents involved “reconnaissance” which suggests the industry is still in hackers’ sights. “If trends from the past few years continue, this probably indicates that attacks and malware are likely to increase in manufacturing organizations in the second half of 2017,” according to the report.

The report also noted a 24 percent increase in attacks on NTT clients in the second quarter and that cyber criminals go-to attack vector has been “phishing emails with malicious attachments containing PowerShell commands in VBA macros.”

Read the full report.