2019: The Year of the Data Breach, Again…
“Magic 8 ball, will 2019 be the Year of the Data Breach…again?”
Our VP of Compliance says: All signs point to YES.
With the passing of laws like GDPR and PIPEDA, the Marriott Breach, New York Department of Financial Service’s cybersecurity rule deadlines, increased SEC enforcement, and increase in data breach lawsuits, by the time last December ended, there is no doubt that all industry specialists could not wait to label 2018 as the Year of the Data Breach. However, as we sit in the dawn of 2019, it is becoming ever increasingly clear, that 2019 will in fact be, the Year of the Data Breach, Again.
One of our clients was struggling with a complicated system that required a lot of time and effort to customize each Cisco firewall configuration to meet the individual requirements of each of its own clients.
Digital Edge eliminated the problem by implementing a solution that maximized efficiency and security.
Digital Edge team was tasked to help contain and eradicate a virus outbreak. A response team was gathered and after the initial kick-off call, the team started cleaning/investigation activities.
Digital Edge has a team in Panama that has been working with the Panama Maritime Authority. This is a gallery of that team and office!
The New York State Department of Financial Services’ (DFS) mandatory cybersecurity requirements for financial services entities became effective on March 1st, 2017, with a two-year implementation period. The regulation requires all DFS regulated entities, subject to certain exemptions, to adopt the core requirements of a cybersecurity program. The final effective date for the regulation will be March 1, 2019, by which time, under section 500.11, DFS regulated entities are required to have written policies and procedures that are based on a risk assessment to ensure the security of nonpublic information and information systems that are accessed or held by third party service providers.
DFS has come out with the dates all regulated entities and licensed persons must files various notices to the Superintendent. The final one being next month, February 15th 2019.
For over 2 years, Digital Edge has been working with the Panama Maritime Authority, developing and establishing a digitized platform. The project has proven to be very successful, making it easier to operate and administer the annual safety inspections of all its registered vessels.
IT Compliance vs. IT Security : “What’s the difference?”
It is without a doubt that 2018 has become the year of IT Compliance. With so many new laws becoming effective, including EU’S GDPR, California’s Data Privacy Law, and Canada’s PIPEDA, the line between security and compliance may seem easily blurred for IT professionals. So, the question becomes: How do we produce a comprehensive security program, while ensuring that we meet compliance obligations? However, there is one problem that surfaces repeatedly, regardless of which regulatory standard (e.g., PCI, HIPAA, etc.) your company must meet, and that is failing to understand the difference between compliance and security. Sometimes organizations think that these are one and the same to the point that they become so consumed by complicated regulations that they stop focusing on security altogether. This month's edition of Ask Our VP of Compliance will address the differences between IT Compliance and IT Security:
Marriott International, a large American hotel chain, recently has had one of the largest breaches in history. This breach may have been prevented with a proper implementation of a cybersecurity system. Cybersecurity defenses protect against major attacks, ensuring no data loss. Implementing a cybersecurity system isn’t free, but the price of handling an attack is much greater.
This November, a new Canadian Data Privacy Law went into effect, called PIPEDA. (The Personal Information Protection and Electronic Documents Act).
PIPEDA is similar to other privacy laws in that organizations "must obtain an individual’s consent when they collect, use or disclose that individual’s personal information. People have the right to access their personal information held by an organization. They also have the right to challenge its accuracy." Personal information—including identifiers such as name and age, medical records, financial data and even opinions and evaluations—that is collected under a commercial activity (business transactions, fundraising activities or memberships, for example) falls under PIPEDA protection. Personal information collected for government or by an employer are not covered.
Penalties are much lighter for PIPEDA than other privacy regulations. Data breaches are to be reported to the Office of the Privacy Commissioner (OPC). Failure to report a breach to both the OPC and to the affected customers or no record of total data breaches is kept can cost organizations fines as much as $100,000. One thing that makes PIPEDA stand out from other privacy regulations with a national or global scope is that it may not cover all of Canada.
It is important to note, that organizations that already meet the standards of GDPR and any U.S. laws are considered to be compliant with PIPEDA.
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With Thanksgiving 2018 season upon us, this article will focus on 1 predominate question, “What is our VP of Compliance Thankful for This Year?”
Sometimes it’s easier to focus on what we don’t have, rather than what we do have. It’s important to take time out and remember all the things to be thankful for that many of us take for granted. This year, I am thankful for: