Kroll Cyber Security Blog – A Dialogue on Data Security

Over the years, most class actions around data breaches have been unsuccessful due to the lack of concrete economic damages. Courts have held that damages such as the cost of credit monitoring, identity theft insurance, replacement credit and debit cards, and time and effort spent remediating identity theft issues are not compensable damages. This results in most class actions being dismissed without a trial. However, a recent First Circuit decision provides ammunition to plaintiffs seeking class action relief where at least some of the plaintiffs have experienced unauthorized charges. 

Mark your calendars for the online HIMSS Executive Briefing event, “Privacy and Security: Practical Solutions for a Changing Landscape,” scheduled for December 14 from 9 a.m. to 4:00 p.m. CST. Kroll’s own Karen Schuler, CFE, will be presenting a session for the event: “HIPAA and HITECH in the Real World,” from noon to 1:00 p.m.

Today the Federal Bureau of Investigation (FBI) announced the arrest of six Estonian nationals associated with a worldwide internet fraud ring that infected more than four million computers and netted the thieves more than $14 million in fraudulent revenue in a scheme to defraud the internet advertising industry. This arrest was the result of a two-year investigation called Operation Ghost Click.

Last week, Howard Schmidt, a cybersecurity coordinator and special assistant to the President, blogged about the White House efforts to advance legislation that would address cybersecurity. This particular topic is nothing new – countless others have discussed the need for federal legislation. But what is interesting is how this post encapsulates the progression of the argument over the past few years.

What was once considered largely a consumer issue has transformed into a matter of state security. Accountability to consumers is still very important, but as the technology utilized by companies, governments and even individual citizens – not to mention the bad guys – advances at a dizzying pace, the objectives of a federal law now include much more than just breach notification.

Please join Kroll’s own Karen Schuler, CAE, senior managing director and practice leader for Cyber Security & Information Assurance, at the International Association for Asset Recovery (IAAR) 3rd Annual Conference: Winning the Endgame of Financial Crime. The conference takes place at the Planet Hollywood, in Las Vegas, Nevada on November 17-18, and Schuler will be a featured speaker in four sessions at the event:

• General Session 1: Osama bin Laden’s Data Haul – The Asset Tracing and Operative Lessons It Teaches Through ‘Analog’ and Digital Investigations, Thursday, November 17th – 9:00 AM – 10:15 AM