Posts Tagged: "cybercrime"

Twitch Data Breach is Another Example of Why Cybersecurity is a Must for all Businesses

Just as we thought Facebook’s six-hour outage could be the biggest cybersecurity news in October, hackers were able to expose more than 100GB of data from Twitch. The livestreaming platform – purchased by Amazon for $970m in 2014 – is understood to still be trying to figure out how it happened. While this investigation unfolds, security experts are already warning of the potentially serious consequences for the business.

How Organizations Must Protect Themselves from Ransomware Attacks

When one thinks of cybercrime, it can be easy to imagine a mysterious figure in a dimly lit room sending out various phishing emails to unsuspecting victims. However, this is not always the most dangerous tactic used by hackers, according to the United Kingdom (UK) Government Communications Headquarters’ (GCHQ’s) cybersecurity arm. On June 14, the UK National Cyber Security Centre claimed that ransomware represented the biggest threat to online security for most people and businesses, with the number of incidents soaring worldwide in the last two years. And it is a problem and a threat that we must all be wary of.

Reintroduced International Cybercrime Prevention Act Would Create New Cybercrime Violations, Increase Forfeiture and Injunctive Relief

On June 17, a bipartisan coalition of U.S. Senators, including Thom Tillis (R-NC), Sheldon Whitehouse (D-RI), Lindsey Graham (R-SC) and Richard Blumenthal (D-CT) reintroduced the International Cybercrime Prevention Act for consideration by the upper house of Congress. If passed, the bill would enact provisions giving additional power to law enforcement for seizing devices used for cyber attacks as well as create new criminal violations for individuals who knowingly engage in cyber attacks on critical national infrastructure.

Adding a Cybersecurity Plan to the Business Plan: Cybersecurity and IP Considerations for Startups

Imagine the following scenario: You have an idea for a new mobile application. As adoption of the app picks up, so does your business, and you hire more employees to provide sales and support assistance. You are on your way to transforming your startup into a successful business. Needing additional capital to scale the business more quickly, you identify a strategic partner interested in investing in your business. Before you can close on the funding, several employees report that they did not receive their paychecks through the direct deposit system. The investigation reveals that several months ago, your organization received a series of spear phishing emails. You learn that multiple employees opened the email and its attachment giving the cybercriminals access to your systems. Not only are you out the payroll money, but you also learn that in addition to your employees’ banking information, the criminals had access to your customer contact information and the source code for your app. A cyberattack is an unwelcome event for any company, but the effects can be especially detrimental to a startup, with 60% or more of small businesses that experience a data breach going out of business within a year of the breach. It is impossible for any size business to guarantee a system that is fully secure. However, not all companies have millions of dollars to invest in cybersecurity and by allocating even limited funds to assessing your data privacy risks, implementing a protection plan and creating an incident response plan, a startup can significantly improve its chances of surviving a cyberattack.