The U.S. Federal Trade Commission (FTC) approved amendments to its Safeguards Rule that require FTC-regulated non-banking financial institutions to report data breaches and other security events directly to the FTC. It was originally proposed to add a breach notification requirement back in late 2021. The rule requires financial institutions to report “notification events” to the FTC within 30 days of discovery of the notification event where the private information of 500+ consumers is involved.
It was late March 2021 when a phishing email was sent to a network administrator of TTEC Healthcare Solutions, Inc. (TTEC HS) - an integrated healthcare CX solutions provider - and a threat actor gained highly privileged access to the network. On September 12, 2021, a common ransomware scenario was triggered, with approximately 1,800 devices compromised via the access channel obtained almost 5 months earlier.
Prior to executing the ransomware attack, the threat actor successfully exfiltrated data from the TTEC HS network, containing non-public information (NPI) of current and former employees of TTEC HS, and for individuals who were insured by one of TTEC HS’s clients, including, importantly, some New York residents.
Historically, seaports have played a crucial role in a state’s development, and interruption in their services has a significant impact on economics. So, it’s no surprise commercial ports are regarded as a critical transport infrastructure.
One of the most significant challenges ports face today is ongoing digital transformation. The majority of tasks carried out across a port utilize autonomous and partially automated systems, including those for managing port access, vessel berthing (bridges, locks, gates, etc.
SOX - an overview Serious financial fraud was never considered a real risk while investing in U.S.-listed stocks until 2001, when energy giant Enron Corporation, which held $63.4 billion in assets, collapsed. It was revealed that the company had been misleading investors for years and the company’s stock price quickly plummeted from $90 to less than $1 per share. It was the largest bankruptcy in US history, followed by a $40 billion lawsuit and imprisonment for the corporation’s executives.
What is PCI DSS? PCI DSS, or Payment Card Industry Data Security Standard, is a collection of security requirements developed by major credit card companies to safeguard merchants who accept credit card payments by ensuring they provide a secure environment. The standard includes provisions for data protection, network security, and security management, among other things. Organizations that process credit card transactions are required to comply with these standards.
Who needs to be PCI DSS compliant?
So, it happened again. You got an internal audit finding or a regulatory notice. Or you just had a nagging feeling and found customer data somewhere it shouldn’t have been. Morale sinks. Are you forced to choose between serving your customers and addressing compliance weaknesses? Nobody said IT Compliance was easy. But don’t sign up to do any more work than is necessary. Use Frameworks to identify the activities, like logging, that demonstrate compliance for multiple domains and get the absolute best coverage without extra work.
Compliance mandates are frameworks that organizations must implement to meet industry regulations. Some of these mandates provide guidelines and best practices, while others may be tied to legislation. With the constant and rapid changes in technology, ensuring that your organization adheres to the relevant regulations is an ongoing process.
So why should you comply? Simply put, not complying might cost you more than implementing processes to meet regulatory requirements. By not complying, you might be violating the law, and in case of a data breach, you may face litigation from affected parties.
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