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News >> Information Security

The Republic of Korea government is preparing legislative amendments that would increase the maximum fine for a financial institution's failure to protect customer data more than 800-fold to KRW5 billion (approximately US$4.7 million/€3.4 million). The development is reportedly part of the government's response to the recent leak of the personal details of 15 million people who held credit card accounts with nationally-based entities KB Financial Group Inc, NongHyup Financial Group Inc and Lotte Group.

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The United Kingdom Information Commissioner's Office (ICO) has announced that employers should ensure that temporary staff receive adequate data protection training if they are handing personal information on a regular basis.

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The Australian Securities and Investments Commission (ASIC) has announced that ABN AMRO Clearing Sydney Pty Ltd's (ABN AMRO) has paid a A$130,000 penalty in relation to a third-party failure in ABN AMRO's automated order processing system.

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The United Kingdom Information Commissioner's Office (ICO) has made available a Monetary Penalty Notice (24 September 2013) fining loans company Jala Transport Ltd £5,000, following the theft of an unencrypted portable hard drive containing financial details of its 250 customers.

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The United States Federal Trade Commission (FTC) has launched the resource Hacked Email (July 2013), which contains guidance from the FTC regarding the identification of signs a social media or email account may have been hacked, as well as how to respond to a hack once it occurs.

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The Institute of Chartered Secretaries and Administrators (ICSA) has issued the FT-ICSA Boardroom Bellwether 3 (July 2013), a joint report by ICSA and the Financial Times (FT) which includes a survey of 53 FTSE 350 company secretaries on risks, including cyber risks.

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Yahoo announced that 22 million login names may have been exposed after a data breach at Yahoo Japan last week. According to a statement released by Yahoo Japan, “We don’t know if the file [containing 22 million user IDs] was leaked or not, but we can’t deny the possibility, given the volume of traffic between our server and external terminals.”

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United States vehicle safety regulator the National Highway Traffic Safety Administration (NHTSA) has told a US Senate committee hearing that the interconnected electronics systems increasingly found in new vehicles has presented a new front for the regulator, especially in terms of protecting consumers against "car hacking".

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The United States (US) Department of Homeland Security has issued a warning to corporations to be wary of cyberattacks. Reportedly, the objective of recent attacks has been to gain control of an organisation's networks or processes rather than to obtain data or trade secrets. According to the New York Times, senior officials warned the latest spate of attempted attacks targeted the administration systems of up to ten American energy companies.

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The Australian House of Representatives Joint Select Committee on Cyber-Safety (JSCC) has announced that it has presented the report on its inquiry into cybersafety for senior Australians Cybersafety for Seniors: A Worthwhile Journey (March 2013) to parliament.

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