Intel Security, which now owns McAffee, released a report this week entitled “The Hidden Data Economy.” It should be worrisome for, well, every adult with a credit card of any sort.
You hear about these breaches here at Hacked.com and other websites, places like Target letting millions of credit card details get stolen, offering credit protection and such as a result. But where do all these details end up? According to the report, the same place as everything else that can’t legally be sold on eBay: the dark web.
But let’s be clear: nothing about this is new, and the dark web is just a more modern analog to black hat BBS and IRC groups that existed many [...]
US companies have suffered numerous high-profile attacks in the past couple of years, from Sony Entertainment to Target. Even the government has been victimized more than once, most recently losing credit card data.
It comes as no surprise, then, that insurance companies are raising rates commensurate with the new risk. According to Reuters, insurance companies are not just raising regular rates, but also deductibles, as well as limiting damages to $100 million in some cases.
Depending on their nature, data leaks can easily cost more than $100 million to repair – from compensating customers to upgrading infrastructure. Depending on contract situations, data leaks can [...]
A federal judge has certified a class-action lawsuit against Minneapolis-based retailer Target that had originally been brought up by several banks for damages after the retailer’s data breach in 2013.
U.S. District Judge Paul Magnuson in St.Paul, Minnesota granted class-action status to several financial institutions that are suing Target Corp. for damages during the retailer’s massive data breach in 2013, reports Reuters.
Charles Zimmerman, a leading lawyer, representing the banks said in a statement:
This important ruling brings financial institutions one step closer to collectively holding Target accountable for its unprecedented data breach.
The 2013 [...]