IT Security Stories to Watch: $10M Settlement in Target Data BreachIT Security Stories to Watch: $10M Settlement in Target Data Breach
Customers won a $10 million settlement against Target relating to the retailer's Dec. 2013 data breach. And as a result, Target topped this week's list of IT security newsmakers to watch, followed by Premera Blue Cross, Los Angeles International Airport (LAX) and Crowd Research Partners (CRP). Here are four IT security stories to watch during the week of March 23.
March 24, 2015
Remember the Target (TGT) data breach that took place in Dec. 2013? A federal judge last week approved a $10 million settlement for customers who filed a lawsuit against the retailer due to this incident.
What can managed service providers (MSPs) and their customers learn from these IT security newsmakers? Check out this week’s list of IT security stories to watch to find out:
1. Target reaches data breach settlement with customers
Shoppers who were affected by the Target data breach could be awarded up to $10,000 each in damages.
The New York Times reported that U.S. District Judge Paul A. Magnuson last week gave preliminary approval to a $10 million settlement of a lawsuit filed by Target customers. Magnuson also set a final hearing date for Nov. 10.
Forty million credit and debit card accounts were impacted by the Target data breach, according to Forbes. Target incurred $162 million in data breach-related expenses across 2013 and 2014 as well.
2. Premera Blue Cross gets breached
Premera Blue Cross is the most recent health insurer to suffer a data breach.
The Washington State health insurance provider last week said cyber attackers gained unauthorized access to its IT systems and may have accessed the personal information of its employees and members.
USA Today noted that the cyber attack may have affected 11 million Premera employees and members.
“I recognize the frustration that the news of this cyber attack may cause. The privacy and security of our members’ personal information is a top priority for us,” Premera CEO Jeff Roe said in a prepared statement. “As much as possible, we want to make this event our burden, not yours, by making services available to protect you and your information moving forward.”
Roe added that Peimera is providing two years of free credit monitoring and identity theft protection services to those who may have been affected by the cyber attack.
3. The LAX (Los Angeles Airport) police report data breach
LAX police last week reported a credit card breach at the airport’s Tom Bradley International Terminal, according to KABC 7 Los Angeles.
An LAX police spokesperson said airport police were focusing their investigation on one business inside the terminal, and no suspects have been identified to date.
Additionally, International Business Times noted that LAX police have asked customers who saw unauthorized charges at the terminal in their bank statements after March 4 to contact them.
4. Crowd Research Partners: Security remains biggest barrier to cloud adoption
Many businesses are prioritizing security when it comes to cloud adoption.
A new Crowd Research Partners (CRP) study conducted with LinkedIn’s Information Security Community (ISC) revealed security is still the biggest barrier to further cloud adoption, and nine out of 10 organizations said they are concerned about cloud security.
Other study results included:
Almost 80 percent of managers said they are concerned about data risk introduced by personal cloud storage services operated by employees or visitors.
The most popular method to close the cloud security gap was the ability to set and enforce consistent cloud security policies.
Encryption of data at rest and in motion was considered as one of the most effective security controls for data protection in the cloud.
“Cloud security is top of mind for cybersecurity professionals,” ISC founder Holger Schulze said in a prepared statement. “But the fundamental perception is that cloud computing is still falling short regarding security and regulatory compliance, making security concerns a critical barrier to faster adoption of cloud services.”
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