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February 11, 2021 - R+C Newsletter

Data Privacy + Cybersecurity Insider

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CYBERSECURITY

Cyber-attacks and Cybersecurity Are Failure Top Risks of the Next Decade Says World Economic Forum

Although somewhat obvious, the World Economic Forum, in partnership with Marsh McLennan, SK Group and Zurich Insurance Group, recently issued its 16th edition of the Global Risks Report (the Report), which analyzes “the risks from societal fractures—manifested through persistent and emerging risks to human health, rising unemployment, widening digital divides, youth disillusionment, and geopolitical fragmentation” and determined that cyber-attacks are “key threats of the next decade.” Read more

Unidentified Hacker Breaches Florida City’s Water Treatment System

A Tampa, Florida area water facility was recently hacked using a popular remote-access software tool. The unidentified hacker also used the software to connect to an on-site computer and then used that computer to access the facility’s control panel. Once there, the hacker programmed a 100x-increase in the levels of sodium hydroxide (lye) to be added to the water supply. While small amounts of lye are used to control the acidity of water, at these massively-increased levels, lye is corrosive. Drinking the water could be like drinking liquid drain cleaner. Read more


NEW + NOW

NYDFS Issues Cyber Insurance Risk Framework for Regulated Entities

In what the New York Department of Financial Services (NYDFS) is touting as the first guidance by a U.S. regulator on cyber insurance, NYDFS announced on February 4, 2020, in Insurance Circular Letter No. 2 (2021), that it has issued a new Cyber Insurance Risk Framework (Framework) addressed to authorized property/casualty insurers that write cyber insurance. Nonetheless, NYDFS states “property/casualty insurers that do not write cyber insurance should still evaluate their exposure to ‘silent risk’ and take appropriate steps to reduce that exposure.” Read more


DATA PRIVACY

Be Wary of Requests for Personal Information on Social Media

I was scrolling through a social media site this week, and was struck by how many requests asked people to respond to questions regarding their biographical information. For example, what was the number one album when you were a senior in high school? What was your favorite beach or park when you were growing up? Where was your first job? What month is your birthday? Read more


PRIVACY TIP #271

Getting In on the Cryptocurrency Frenzy? Assess Risk of Theft First

The urge to purchase cryptocurrency is strong right now, as the value has skyrocketed. This week's Privacy Tip discusses some things to consider before buying. Read more