Businesses exist to take risks. Boards of Directors exist to choose
the risks to take.
WANE
reports:
The state of Indiana has sued credit bureau Equifax for a 2017 data breach that left 147.9 million Americas, including 3.9 million Hoosiers, compromised.
[…]The state argued in its lawsuit that Equifax used cost-cutting measures like outsourcing mission-critical systems. The company failed to improve security and instead chose to increase revenue, the lawsuit argued.
(Related)
Even more important to take the right risks.
Companies
Don’t Always Need a Purpose Beyond Profit
Money
is becoming more attractive than espionage? More frequent, maybe.
Verizon
Publishes 2019 Data Breach Investigations Report (DBIR)
… This
is the 12th edition since its launch in 2008, and the most extensive
to date, with 73 contributors and an analysis of 41,686 security
incidents including 2,013 confirmed breaches.
… The
trend highlighted by the 2019 DBIR (PDF
)
is that financially motivated cyber-attacks are increasing across the
board.
Closer
to a declared CyberWar?
Aggressive
Changes to Deterrence, International Response and the Use of
Offensive Cyber Capabilities on the Horizon
… Secretary
of State Mike Pompeo announced that certain types of cyber attacks on
Japan could trigger an armed response from the United States. This
level of military commitment by the Trump administration is unusual
in the realm of international response to offensive cyber maneuvers,
and could signal a broader sea change in foreign policy.
… This
particular statement was clearly prompted by the actions of China,
which has ramped
up to
about 128 billion cyber attacks on Japan each year. While it is
still very unlikely that the United States would ever take military
action against China for these attacks, the language of the statement
is unusually strong.
While
all-out war in response to nation-state hacking would be untenable,
there are signs that United States allies are less willing to accept
the status quo of letting brazen cyber attacks slide. Consequences
are being discussed, and the most likely shape they would take would
be a NATO-like alliance in which a large-scale joint offensive cyber
response occurs when any one member state is attacked online.
(Related)
No surprise.
Report:
Russia is using social media to influence European Parliamentary
elections
A
new report is out claiming that Russian bad actors are increasingly
pouring misinformation through social media channels with a clear
goal to influence the upcoming European Parliamentary elections.
… “SafeGuard
Cyber’s report also provides evidence that Russia is behind these
misinformation campaigns, discovered by tracking bots, trolls and
other malicious parties, referred to as ‘bad actors,’ against 52
risk signatures as part of the company’s machine learning threat
detection tool,” reads the press
release.
For
my Computer Security students.
Webinar
on Hacking 101: How it works and how to mitigate risk
Please
join the Hogan Lovells Privacy and Cybersecurity team on May 15 for
our webinar, Hacking 101: How it Works and How to Mitigate Risk. We
will explore how certain common hacks work from a technical
perspective and how to mitigate related risks from a legal and
compliance perspective.
… CLE credit will be offered for webinar
attendance. To register for the webinar, click
here.
A
Wharton podcast. Perhaps it’s because Smartphone owners have to
tell someone right
now!
User-generated
Content: The Medium Impacts the Message
In
her latest research, Wharton marketing professor Shiri Melumad finds
that consumers
who write out their thoughts on smartphones tend to be more emotional
than those who wait until they get home to type on their personal
computers. Her findings have implications for both marketers and
consumers who rely on user-generated content to inform their
decisions.
Perspective.
CRUISE'S $1
BILLION INFUSION SHOWS THE STAKES IN SELF-DRIVING TECH
FOR
AN INDUSTRY that
has yet to scale a commercial product, the folks building
self-driving cars sure have raised a lot of money. The latest
eye-popping investment comes via Cruise, the San Francisco-based
autonomous vehicle unit that is mostly owned by General Motors. The
company announced Tuesday that it had
raised $1.15 billion, at a valuation of $19 billion—roughly
one-third of the valuation of GM, despite not having sold a single
car.
The infusion comes from one new investor, the global asset
management firm T. Rowe Price Associates, plus existing partners GM,
Honda, and the Softbank Vision Fund, which poured $2.25 billion into
the self-driving unit a
year ago.
Cruise says it has raised $7.25 billion in the past year, which
places it in the top tier of AV fund-raisers.
Could
be fun…
An
Interactive Map of English Myths and Legends
Thanks
to the Maps
Mania blog I
just learned about English Heritage's Map
of Myth, Legend, & Folklore.
The interactive map feature a couple of dozen historical sites that
under the care of English
Heritage.
As the name of the map implies, each of the sites on the map is basis
for a myth or legend.
Click
on one of the landmarks on the Map
of Myth, Legend, & Folklore to
read the legend connected to that landmark.
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