Internet, Information Technology & e-Discovery Blog

Internet, Information Technology & e-Discovery Blog

Social changes brought about by the Internet & Technology

Category Archives: eCommerce

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Do you trust Equifax? Apparently IRS believes a new $7.25 million contract with Equifax is a good idea!

Posted in Cyber, eCommerce
Gizmodo reported that IRS supports its new $7.25 million contract with Equifax as a “no bid sole source” contract “to help verify US taxpayers’ identities” …and without which “would have prevented thousands of hurricane victims from obtaining much needed…. tax information.”  The October 5, 2017 story entitled “IRS Chief Says Aborting Equifax Contract Could Harm… Continue Reading

Surprised? Equifax learned about its cyber exposure in March, but failed to do anything!

Posted in Cyber, eCommerce
Rueters reported that former Equifax CEO Richard Smith (who retired suddenly last week) provided written testimony that “Equifax was alerted to the breach by the U.S. Homeland Security Department on March 9,…, but it was not patched.”  The October 2, 2017 report entitled “Equifax failed to patch security vulnerability in March: former CEO” included these… Continue Reading

Equifax confessed that it failed to protect personal data of 143+MILLION CUSTOMERS!

Posted in Cyber, eCommerce, Internet Privacy
The New York Times reported “that hackers had gained access to company data that potentially compromised sensitive information for 143 million American consumers, including Social Security numbers and driver’s license numbers.”  The September 7, 2017 report entitled “Equifax Says Cyberattack May Have Affected 143 Million Customers” included the bad news: Potentially adding to criticism of… Continue Reading

Google spent $19 million lobbying last year, is that good or bad?

Posted in eCommerce
Kenneth Vogel (no relation) reported in the New York Times that Google “ helped organize conferences at which key regulators overseeing investigations into the company were presented with pro-Google arguments, sometimes without disclosure of Google’s role.” The August 30, 2017 article entitled “Google Critic Ousted From Think Tank Funded by the Tech Giant” included these… Continue Reading

Here’s a good idea – don’t agree to cloud Click Agreements because the cloud is such a huge target for cybercriminals!

Posted in Cyber, E-Discovery, eCommerce
More businesses should use lawyers that understand how to negotiation cloud agreements because the Click Agreement don’t provide all necessary legal requirements given Cisco’s report that “The cloud is a whole new frontier for hackers, and they are exploring its potential as an attack vector in earnest…They also recognize that they can infiltrate connected systems… Continue Reading

No cyber insurance coverage for $800,000 loss for spearphishing (aka BEC -Business Email Compromise)!

Posted in Cyber, eCommerce reported that a court agreed with Traveler’s “which denied coverage on the basis the loss was not a “direct loss” that was “directly caused by the use of a computer” as required by the policy.” My friend Judy Greenwald wrote the article entitled “Manufacturer can’t recover spoofing email losses from insurer” about the ruling… Continue Reading

US Cyber insurance market exceeds $2.49 Billion!

Posted in Cyber, eCommerce, Internet Privacy
A report to the Cybersecurity (EX) Task Force explains the growth of cyber insurance to more than $2.49 billion in 2016 because “Cybersecurity breaches can cause a major drain on the U.S. economy”…and in particular “Financial Services Sector is perhaps the most under attack from cyber criminals.”  The August 6, 2017 “Report on the Cybersecurity… Continue Reading

Blockchain vs. the SEC – ICO (Initial Coin Offering) are securities!

Posted in eCommerce
The Securities & Exchange Commission (SEC) ruled that “…that issuers of distributed ledger or blockchain technology-based securities must register offers and sales of such securities unless a valid exemption applies. Those participating in unregistered offerings also may be liable for violations of the securities laws. Additionally, securities exchanges providing for trading in these securities must register unless… Continue Reading

Guess what? There will be increased cyber problems in 2017 including Ransomware, Malware, and IoT!

Posted in Cyber, eCommerce
Malwarebytes examined almost “one billion malware detections/incidences…in nearly 100 million Windows and Android devices…in over 200 countries” to make its 2017 State of Malware Report which included these three takeaways: Ransomware grabbed headlines and became the favorite attack methodology used against businesses. Ad fraud malware, led by Kovter malware, exceeded ransomware detections at times and… Continue Reading

FTC to the rescue with Cybersecurity roundtables for small businesses!

Posted in Cyber, eCommerce
The Federal Trade Commission (FTC) will have a series of public roundtables since companies “with only a few employees face unique challenges when it comes to cybersecurity. The July 20, 2017 announcement entitled “FTC to Host Cybersecurity Roundtables with Small Businesses” publicizes a new website launched in May Protecting Small Businesses focuses on “Cybersecurity”: Running… Continue Reading

Will IBM’s recommendation to encrypt the universe provide better cyber protection, or just profits for IBM?

Posted in Cyber, eCommerce, IT Industry
The Washington Post reported that “IBM argues that universal encryption could be the answer to what has become an epidemic of hacking.”  The July 17, 2017 article entitled “To battle hackers, IBM wants to encrypt the world” included these comment about IBM’s recommendations to encrypt the universe: …it has achieved a breakthrough in security technology… Continue Reading

Sales of Cyber insurance policies grow by 400% after ransomware attacks- soon to be as common as fire insurance!

Posted in Cyber, eCommerce
Reuters reported that Danish insurance company Tryg issued a second quarter report that it “sold 2,800 cyber insurance policies in the quarter, up from 700 between January and March.”   The July 11, 2017 report entitled “Tryg sees rapid rise in cyber insurance sales after Wannacry” included this comment from Tryg chief executive Morten Hubbe: We… Continue Reading

Cyber insurance premiums grew 35% in 2016 -over $1.3 Billion!

Posted in Cyber, eCommerce
A.M. Best reported that the top “cyber insurance writers have shifted away from writing packaged policies to standalone coverage by nearly a 70-30 split on the $1.3 billion of direct premiums written in 2016,…and this shift mainly results from many insurance companies realizing that tailored coverage forms addressing cyber liability risks separate from traditional insurance… Continue Reading

Google fined $2.7 BILLION!

Posted in eCommerce
The NPR reported that Google violated EU antitrust laws as it “denied other companies the chance to compete on the merits and to innovate. And most importantly, it denied European consumers a genuine choice of services and the full benefits of innovation.”  The June 27, 2017 article entitled “Google Hit With $2.7 Billion Fine By… Continue Reading

Anthem agrees to pay $115 million for 2015 cyber intrusion to settle litigation!

Posted in Cyber, eCommerce, Internet Privacy reported that “Anthem Inc., the largest U.S. health insurance company, has agreed to settle litigation over a hacking in 2015 that compromised about 79 million people’s personal health information for $115 million, which lawyers said would be the largest settlement ever for a data breach.”  The June 26, 2017 report entitled “Anthem to pay… Continue Reading

Honda plant halted operations because of WannaCry Ransonware!

Posted in Cyber, eCommerce
The Financial Times reported that the “Japanese carmaker revealed that it temporarily halted production at its Sayama plant, northwest of Tokyo, after it discovered that some of its computers were affected by the ransomware late on Sunday.”  The June 21, 2017 Financial Times report entitled “Honda plant hit by WannaCry ransomware attack” included a confession… Continue Reading

7 Flavors of CyberCrimeware as a Service (CaaS) includes Ransomware as a Service (RaaS)!

Posted in Cyber, eCommerce
Darkreading reported that inexpensive CaaS include malware “botnets, phishing and backdoors are all offered on the cheap as subscription. These days even crime is in the cloud.”  The June 13, 2017 Darkreading report was entitled “The Rising Tide of Crimeware-as-a-Service” included these comments about RaaS: The incipient rise of ransomware has occurred in lockstep with… Continue Reading

IBM Blockchain & AIG team up for “Smart Insurance”

Posted in eCommerce
Reuters reported that “AIG and IBM completed a pilot of a so-called “smart contract” multi-national policy for Standard Chartered Bank PLC which the companies said is the first of its kind using blockchain’s digital ledger technology.” The June 15, 2017 report entitled “AIG teams with IBM to use blockchain for ‘smart’ insurance policy” included this… Continue Reading

Cyber criminal’s phishing leads to 4+ years in prison for stealing airline tickets, which employee training could have avoided!

Posted in Cyber, eCommerce
Darkreading reported a 4+ year jail sentence for stealing airline tickets by using “phishing campaigns targeted customers of Travelport and Sabre, causing phishing emails to be delivered to their customers for the purpose of obtaining and stealing their unique log-in credentials.”  On June 5, 2017 the Department Justice issued a press release entitled “West African computer… Continue Reading

Cyber attack probably caused BA to strand 75,000 passengers, but BA claims it just lost electricity! Haha!

Posted in Cyber, eCommerce
The Independent reported that Wallie Walsh (Chief of  British Airways’ owner International Airlines Group) broke his silence about BA’s IT failure last week that left 75,000 travelers stranded saying “it was not an IT failure, it was a problem caused by the failure of electrical power to our IT systems.” The June 1, 2017 report… Continue Reading

Facebook lied to the EU about privacy & will pay a $122 million fine!

Posted in eCommerce, Internet Privacy
The Washington Post reported that “Facebook was not honest about its ability to identify users who had both Facebook and WhatsApp accounts and link those accounts” during Facebook acquisition in 2014.  The May 18, 2017 report entitled “Facebook will pay $122 million in fines to the E.U.” included these details: When Facebook notified the acquisition… Continue Reading