According to U.S. cybersecurity analysts, 12 small groups of hackers from China are responsible for more than $1 billion worth of data from companies throughout the nation. These groups have been monitored by McAfee, a prestigious Internet security company, who drew upon information collected over time. Earlier this year, McAfee tracked intrusions into the U.S. energy grid back to China, where the hacker groups were finally identified after years of arduous investigation. Last month, U.S. intelligence officials formally rebuked China for its part in the intrusions, but no other action was…
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Legislators meet to determine a course of action for cybersecurity
A bipartisan cybersecurity bill may be heading for Congress this week. Federal lawmakers have been discussing the growing threat residing in the digital world and what it means for national security and that of citizens. Over the years, several companies have been the target of cybercrimes such as hacking and data theft. The recent security breaches at Sony Online Entertainment, which compromised the financial information of thousands of consumers, highlight the need for new legislations that encourage cyber insurance. Cyber insurance – that is, insurance that protects against cybercrime –…
Read MoreImportant data theft case shows toughened laws on abused privacy
Laying the foundation, the criminal courts in Europe are starting to take data protection seriously from now on. This has led to the first record high fine to two former T-Mobile UK mobile operator employees, says Stewart Room, who is a partner at the London Law firm named Field Fisher Waterhouse. After stealing and then selling some customer data in 2008 from the T-Mobile UK mobile operator company, the Chester Crown Court fined the duo, David Turley and Darren Hames, of £73,700, or roughly $106,000. The fine isn’t what made this ruling such a…
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