Cyber Security Roundup for July 2019

July was a month of mega data privacy fines. The UK Information Commissioners Office (ICO) announced it intended to fine British Airways £183 million for last September’s data breach, where half a million BA customer personal records were compromised. The ICO also announced a £100 million fine for US-based Marriot Hotels after the Hotel chain said 339 million guest personal data records had been compromised by hackers. Those fines were dwarfed on the other side of the pond, with Facebook agreeing to pay a US Federal Trade Commission (FTC) fine of $5 billion dollars, to put the Cambridge Analytica privacy scandal to bed. And Equifax paid $700 million to FTC to settle their 2017 data breach, which involved the loss of at least 147 million personal records. Big numbers indeed, we are seeing the big stick of the GDPR kicking in within the UK, and the FTC flexing some serious privacy rights protection punishment muscles in the US. All ‘food for thought’ when performing cybersecurity risk assessments.

Through a Freedom of Information request, the UK Financial Conduct Authority (FCA) disclosure a sharp rise of over 1000% in cyber-incidents within UK financial sector in 2018. In my view, this rise was fueled by the mandatory data breach reporting requirement of the GDPR, given it came into force in May 2018. I also think the finance sector was reluctant to report security weakness pre-GDPR, over fears of damaging their customer trust. Would you trust and use a bank if you knew its customers were regularly hit by fraud?

A typical busy month for security patch releases, Microsoft, Adobe and Cisco all releasing the expected barrage of security updates for their products. There was security updates released by Apple as well, however, Google researchers announced six iPhone vulnerabilities, including one that remains unpatched.

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