Tag Archives: incident response plan

Private Bankrolling of Defamation and Privacy Suits

The New York Times recently reported that famed Silicon Valley investor and PayPal co-founder Peter Thiel has been secretly bankrolling “Hulk Hogan’s” (real name Terry Bollea) invasion of privacy suit against Gawker Media. The lawsuit concerns the publication of a sex tape involving Mr. Bollea and the then-wife of one of his friends. Yuck. Double yuck that Gawker saw fit to publish the tape on its site. The yuck factor and legal merits of the suit aside, Mr. Thiel’s involvement could be a game changer. For more than 50 years, American defamation law has been tilting decidedly in favor of …

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Hackers Aim Sights on Small Biz

We’ve become accustomed to data breaches. For consumers, data breaches are irritating, can be inconvenient, and sometimes create identity theft issues for those affected. Consumers expect “the big boys” to have data security and privacy under control. They take offense when their personal data is compromised, and they assume that a data breach occurred because of a lack of rigor in process, or lack of investment in technologies and methodologies designed to protect their information. Many companies have managed the risk associated with data breach by making sure their insurance limits are adequate to cover the eventuality. That’s a prudent …

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Are Your Directors Talking Enough About Privacy and Data Security?

The number of companies suffering data breaches, and the average cost associated with each incident, continues to rise. According to the Ponemon Institute’s 2014 Cost of Data Breach Study: Global Analysis, the average consolidated total cost of a data breach rose to $3.8 million in 2014, which is a 23 percent increase compared to 2013. With the number of and costs associated with data breaches on the rise, corporate fiduciaries–directors and officers–need to be attuned to their company’s privacy and data securities policies and controls. Good corporate governance, meaning the system of rules, practices, and processes by which a company …

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The Cost of a Data Breach

In 2014, the Ponemon Institute published the 2014 Cost of Data Breach Study that includes interesting cost information related to remediation efforts undertaken by 61 companies that operate in the United States. The study reports that the average remediation cost for each lost or stolen record containing confidential or sensitive information was $201.  The average total cost of remediation efforts was $5.85 million per incident. The number of breached records per incident studied ranged from 5,000 to slightly more than 100,000 records.  The average number of breached records in the Study was 29,087.  The average cost of $201 per record …

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Do You Have a Data Breach Response Plan? U.S. Department of Justice Thinks You Should

In the wake of significant retailer data breaches in 2013 and 2014, and additional significant breaches continuing in 2015, a trend is clearly developing — an expectation of proactive risk identification and mitigation from a legal, technical and business process perspective as the “gold standard” in terms of what organizations should be doing to protect sensitive customer, consumer or individual data, particularly with regard to the ever-expanding category of “personally identifiable information.” Massachusetts, Nevada and New Hampshire have passed laws specifically requiring private sector cybersecurity assessment and adherence to security standards by companies holding sensitive consumer data. It’s a matter …

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