Introduction According to Javelin Strategy & Research, in 2017, there were 16.7 million victims of identity fraud and $16.8 billion was stolen.1 Even more shockingly, “30 percent of U.S. consumers were notified of a data breach last year.”2 With another large company being hacked seemingly every week,3 the SEC is feeling the pressure to do…
Tag: Data Breach
Discord in Data Breach Standing
On April 1, 2018, Lord and Taylor’s parent company announced that five million payment cards used in their stores had been compromised.1 A few days earlier, Under Armour had announced that roughly 150 million users of its fitness app had their accounts hacked.2 These incidents serve as a grim reminder that our personal information is…
Facebook and Data Privacy
You’ve seen it all over the news in 2018: Facebook. With scandals like data security breaches, fake news, and Senate hearings, Facebook has not escaped bad publicity this year. This blog post will first address the steps Facebook has taken and will have to take to avoid similar scandals in the future. It will then…
Leave No Flag Undetected: The Impact of the Cyber-Security Failure of Voya Financial Advisors, Inc. upon the Cyber-Security Endeavors of the Securities and Exchange Commission
Section I. Introduction The importance of the preservation of sensitive personal information cannot be overstated. What used to be stored securely in safes, physical archives, and one’s own memory has increasingly become the subject of compulsory data collection from an expanding list of companies and institutions. As more of these businesses turn to electronic technology…
Equifax and the Unsustainable Status Quo
On Thursday, September 7, 2017, the credit reporting giant Equifax Inc. revealed that “highly sensitive personal and financial information for around 143 million U.S. consumers was compromised in an [ongoing] cybersecurity breach” that started as early as mid-May of 2017.1 According to Equifax, criminals were able to access, among other things, “the social security numbers,…