March 2020 – Page 2 – Cyber Law Watch

Utilize and Protect: 2020 AmCham Tech Panel explores complexities of the Data World

Mar 03 2020

We all know by now that technology, and the data obtained and analysed through it, has changed the way the world works and in particular, the way we do business. However, at the first American Chamber of Commerce in Australia (AmCham) Tech Talk Breakfast for 2020, hosted at K&L Gates by our very own Cameron Abbott, it appears that a large portion of the business world is still lagging in terms of utilising its own data resources, understanding the power of data generally and the need to establish and implement appropriate and comprehensive security protections and processes.

The four industry leading speakers, Martin Creighan of AT&T, Robert Le Busque of Verizon Enterprise Solutions, Melissa Osborne of Dell Technologies and Matthew Payton of Datacom explored the immense volume of data businesses collect, and the gap in many businesses between their current utilisation and the maximum value held by such data. The speakers noted the importance of having a robust data analysis resource pool with which to effectively analyse the vast amounts of data a business carries in order to maximise the utility of such data in informing ongoing business decisions.

No cyber insurance? Check your policy – you may be covered for more than you think

Mar 02 2020

By Cameron Abbott, Rob Pulham and Max Evans

Over the past 2 years we’ve seen a steady rise in interest in cyber insurance policies to cover key online risks.

However, as the terms and coverage for cyber insurance offerings steadily standardise, it may not be worth throwing out your old policies just yet.

In his recent article available here our colleague Gregory Wright discusses several recent US cases where insurance holders were found to be covered under more general policies of insurance – even if they weren’t specifically directed towards cyber risks.

A New Low: Red Cross subject to Fraudulent Claims for Bushfire Grants by Cyber Thieves

Mar 02 2020

By Cameron Abbott and Max Evans

If you thought cyber attackers couldn’t go any lower, think again. Cyber thieves are tying up valuable resources at the Australian Red Cross through computer generated applications for bushfire relief assistance, according to an article from the AAP.

According to the article, cyber thieves are using applications to automate hundreds of fraudulent attempts to access financial assistance from the Red Cross, which is distributing grants of up to $20,000 per application with a total grant of around $1,000,000 per day. In one community, there were applications made in respect of 15 homes that purportedly had been destroyed by bushfires, but when physically checked remained unaffected. Go figure!

Archive:March 2020