A "local network breakdown" - reportedly caused by a ransomware infection - led Chinese shipping giant Cosco to shut down all networks for its offices in the United States and seven other countries while it scrubbed and restored systems.
Facebook is making substantial investments to improve its data security and privacy practices. But the long-term cost of those investments and impact on the bottom line has spooked investors, leading to a $120 billion loss in market value on Thursday, the largest one-day loss of value for a U.S. traded company.
Facebook has promised to bring machine learning to bear on the problem of hate speech and information warfare via its platform. But insiders have been urging the company to pursue a major cultural change, including prioritizing not doing anything "creepy" over the quest for short-term gain.
Under the EU's General Data Protection Regulation, within 72 hours of an organization learning about the data breach, it must report the breach to relevant authorities or face fines. The U.K.'s data privacy watchdog says it's already seen the volume of self-reported breaches quadruple.
Randy Trzeciak, director of the CERT Insider Threat Center at CMU, says he's frequently asked: "Haven't we solved the insider threat problem?" Far from it, he responds. In fact, he's helping many organizations start insider threat defense programs. He'll be a speaker at ISMG's New York Security Summit.
For years, Brett Johnson dedicated his time to cooking up new ways to defraud individuals and enterprises. Now the convicted felon spends his time recounting his crime story for business and security leaders. He'll be a featured speaker at ISMG's Security Summit Aug. 14-15 in New York.
Jon Montroll, the former operator of a bitcoin exchange that was hacked, leading to the theft of 6,000 bitcoins, has pleaded guilty to charges that he obstructed federal investigators and deceived investors by attempting to cover up the losses.
"Our risk landscape has changed from protecting the things that we operate to protecting the things that we buy, and that's why third party risk management is the place where people are really focusing," says Joel de la Garza of the venture capital firm Andreessen Horowitz.
Alberto Yepez of ForgePoint Capital says cryptocurrency poses new challenges for accommodating the "know your customer" process of confirming that you're "doing business with the people that you want to be doing business with."
With the topic of election security buzzing, Elvis Chan of the FBI has two primary concerns about the upcoming midterm elections: The cybersecurity of the election systems and protecting people from the influence of foreign adversaries such as Russia.
Barely one month after the enforcement date of the EU's General Data Protection Regulation, California passed its own landmark new data privacy legislation. Cisco Chief Privacy Officer Michelle Dennedy discusses this new law and what it says about the business value of data privacy.
In the wake of so many mega-breaches, new account fraud is easier to perpetrate than account takeovers. This puts new pressure on enterprises to know their digital customers, as well as to authenticate their identities and activities, says Shaked Vax of IBM Security.