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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-06-28T13:18:00
The Australian Prudential and Regulation Authority (APRA) will require Medibank Private to hold 250 million Australian dollars (U.S. $166 million) in extra capital until the insurer remediates identified cybersecurity weaknesses after a significant data breach.
The action by APRA, announced Tuesday, follows a cyber incident last year in which 9.7 million past and present Medibank customers had their data stolen by a hacker. The data exposed included first and last names, addresses, dates of birth, Medicare numbers, policy numbers, phone numbers, and some claims data.
The incident was one of the most significant data breaches ever experienced in Australia, said APRA, the country’s prudential regulator of the financial services industry.
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News and analysis for the well-informed compliance or audit exec.
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2023-06-22T21:15:00Z By Aaron Nicodemus
Compliance teams are taking more responsibility for issues related to information security and data privacy, motivated by increasing threats posed by data breaches and cyber intrusions, according to a new survey from NAVEX.
2023-06-14T17:50:00Z By Neil Hodge
A ransomware attack affecting some of the U.K.’s largest corporations has highlighted once again how exposed organizations can be if the levels of cybersecurity used by their third parties are not as strong as expected.
2023-06-08T20:06:00Z By Adrianne Appel
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.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
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