The global average cost of a data breach reached a new all-time high of $4.45 million in 2023, according to IBM’s annual report.
Adrianne Appel
Adrianne Appel writes regulatory news, policy, and trends for Compliance Week. She previously reported about policy developments for Bloomberg Law and Bloomberg Government.
Email: adrianne.appel@complianceweek.com
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Posted inRisk Management
Biden cyber strategy plan calls for big businesses to step up
The “biggest, most capable, and best-positioned” businesses must assume a greater share of mitigating cyber risks, the White House said in announcing the National Cybersecurity Strategy Implementation Plan.
Posted inData Privacy
California privacy reg delay offers little more than short reprieve
Many businesses are breathing a sigh of relief following a court ruling that delayed enforcement of certain provisions of the California Privacy Rights Act, but companies should not rest on their laurels, according to experts.
Posted inRegulatory Enforcement
SEC’s Grewal spotlights enforcement focus on cyber disclosures
The No. 1 priority at the Securities and Exchange Commission after organizations are impacted by a cybersecurity incident is that investors receive timely and accurate disclosures, according to Enforcement Division Director Gurbir Grewal.
Posted inData Privacy
FTC cases thrust COPPA compliance into spotlight
The Federal Trade Commission’s recent children’s privacy enforcement activity—including fines against Microsoft and Amazon—leaves no doubt businesses must make complying with the Children’s Online Privacy Protection Act a top priority.
Posted inRisk Management
CFTC commissioner crafting potential proposed rule on cyber resiliency
The Commodity Futures Trading Commission’s Technology Advisory Committee sponsored by Commissioner Christy Goldsmith Romero is crafting potential rulemaking to establish cyber resiliency baselines among swap dealers and futures commission merchants.
Posted inAccounting & Auditing
Nutanix discloses remediation steps following costly software misuse
A lack of oversight of employees handling vendor software is one of several failings at cloud computing company Nutanix that led to misuse, $11 million in estimated costs, and two pending lawsuits.
Posted inRisk Management
Verizon report: Lion’s share of data breaches linked to organized crime
About 83 percent of data breaches are perpetrated by external bad actors and not employees, with 70 percent of those breaches linked to organized crime groups with financial motives, according to the latest research.
Posted inAnti-Bribery
Tenet-affiliated health systems to pay $30M in DOJ kickback case
Tenet Healthcare, Vanguard Health Systems, and the Detroit Medical Center agreed to pay $29.7 million as part of a settlement with the Department of Justice addressing allegations they provided kickbacks to doctors who made referrals to their health organizations.
Posted inData Privacy
FTC orders Amazon pay $30M for alleged Alexa, Ring privacy violations
Amazon is set to pay more than $30 million comprised of a civil penalty and consumer refunds to resolve two separate cases alleging privacy violations regarding its Alexa voice assistant service and Ring doorbell subsidiary.
