Insight on how cyber risk is being mitigated and managed across the globe.
By Cameron Abbott and Samantha Tyrrell
It has been alleged that Cambridge Analytica, a political data analytics firm specialising in psychological profiling, has tapped more than 50 million users’ Facebook profiles without their consent and subsequently used the data to assist Donald Trump’s 2016 electoral campaign.
By Cameron Abbott, Keely O’Dowd and Samantha Tyrrell
Bug Bounty Programs (BBPs) actively encourage hackers to explore a company’s systems and report back on any vulnerability they discover. Often, pre-determined financial incentives are offered to the “security researcher” in return for their findings. The attraction of this process is obvious; rather than suffering a cyber incident that could – and for many organisations has – cost millions of dollars and resulted in reputational damage, companies can instead make a comparatively small payment to ethical “white hat” hackers with the intention of pre-empting an incident.
By Cameron Abbott and Keely O’Dowd
Over the weekend our closest neighbours agreed to greater cooperation on cyber security. The Member States of the Association of Southeast Asian Nations (ASEAN), the Secretary-General of ASEAN and Australian leaders met in Sydney to strengthen the ASEAN-Australia relationship. The leaders discussed issues of regional importance.
By Cameron Abbott and Allison Wallace
The Australian Federal Police are investigating two members of the Bureau of Meteorology’s IT team for allegedly running an operation in which they made use of the Bureau’s powerful computers to “mine” cryptocurrencies.
It was revealed late last week that the AFP raided the Bureau’s Melbourne CBD offices on February 28, and questioned the two employees. No charges have been laid, or arrests made.
By Cameron Abbott and Allison Wallace
Smart home devices like the Google Home and Amazon Echo were popular gifts this past Christmas – just like Fitbits have been the Christmases past.
But could these smart devices that we rely on to seek out and relay information to us, turn on our favourite music, or count our calories and steps, be used to produce evidence against us, if we were to commit a crime? Read More
By Cameron Abbott and Allison Wallace
Since the introduction of self-serve checkouts in Australian supermarkets nearly ten years ago, customers have been engaging in the simplest of hacks to outsmart the supermarket technology. Mum and Dad cyber criminals? Not so much– mostly it is just by putting through more expensive items as much cheaper ones (think a kilo of lemons as a kilo of potatoes).
But thanks to an Aussie start-up, new AI technology will put an end to customer’s criminal careers. Read More
By Cameron Abbott and Harry Crawford
The NSW Government’s vulnerability to hacking has been exposed in a report by state’s auditor-general, in which it was revealed that one government agency took 49 days to shut down a hack.
This hack started with an email account of the unnamed agency being compromised and used to send out “phishing” emails to get the credentials of finance staff members. By day 20, 300 staff had clicked on the bogus link in the phishing email. 200 email accounts ended up being under the control of the hackers.
By Cameron Abbott, Keely O’Dowd, Giles Whittaker and Harry Crawford
As promised in a previous blog post, K&L Gates have performed an in-depth analysis of the risks of relying on de-identification of data to protect privacy, in the wake of researchers successfully re-identifying de-identified medical data that was released by the Australian Department of Health in 2016.
Read the article on the K&L Gates HUB here.
By Cameron Abbott and Keely O’Dowd
A study by Accenture and Ponemon Institute – Cost of Cyber Crime Study: Insights on the security investments that make a difference – found cyberattacks cost financial service firms more to address and contain than in any other industry. The rate of breaches in the industry has tripled in the past five years. On average, the cost of cybercrime for financial services companies globally has increased by more than 40% over the past three years, from $12.97 million per firm in 2014 to $18.28 million in 2017.
By Cameron Abbott and Samantha Tyrrell
Not even Tesla is immune to digital security breaches according to a recent report published by RedLock. The cloud security firm discovered that intruders were able to access and exploit Tesla’s public cloud system to mine cryptocurrencies, a scheme – which due to its surge in popularity – is now better known as cryptojacking. A recent string of similar incidents has demonstrated that hackers are shifting their focus away from siphoning data to siphoning cloud resources instead.
Copyright © 2024, K&L Gates LLP. All Rights Reserved.