REUTERS: A hacker has stolen the personal information of over 100 million people from Capital One Financial Corp , the company said this week, in the latest high-profile breach of sensitive consumer data.Security experts say data breaches will continue to happen as cyber criminals and state-backed hackers target the protected information held by companies and government agencies.Such attacks leave consumers vulnerable to fraud and identity theft. Here are some steps you can take to assess the severity of the breach and better secure yourself:WHAT WAS COMPROMISED?Breaches often cover a wide range of data. Information which is already publicly available, such as your name or email address, is seen as less of a concern.Other details, however, can be extremely sensitive and need to remain private. For example, full credit card numbers, which could be used to make fraudulent purchases in your name, or passwords for your online accounts.Even if stolen, the data may still be protected by … [Read more...] about Explainer: What do you do after a data breach?
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Business Colombia has given ride-hailing app Uber Technologies Inc four months to improve its data security, the commerce regulator said on Tuesday, after a 2016 data breach affected more than 260,000 of the South American country's residents. 24 Jul 2019 02:00AM Bookmark BOGOTA: Colombia has given ride-hailing app Uber Technologies Inc four months to improve its data security, the commerce regulator said on Tuesday, after a 2016 data breach affected more than 260,000 of the South American country's residents.Last year, Uber agreed to pay a fine of US$148 million in a settlement reached in the United States for failing to disclose the massive breach.The settlement followed a 10-month investigation into the breach, which exposed personal data from around 57 million accounts, including 600,000 driver's license numbers.Uber is popular in Colombia even though the government says its use is illegal. The country has not yet specifically regulated transport services like Uber, but … [Read more...] about Colombia orders Uber to improve data security after 2016 breach
LONDON: From sending special offers on restaurants to burger-loving current account holders to selling anonymised credit card records, banks are racing to monetize the huge troves of data they hold.Wall Street trails Silicon Valley in using customer information to boost revenue but with tech giants such as Amazon and Google wading onto their turf with forays into lending and payments, banks including JPMorgan, HSBC and Barclays are moving to narrow the gap.Mining mountains of trading data to predict stock moves; partnering with retailers on marketing campaigns and using artificial intelligence (AI) tools to try and speed up credit decisions are some of the areas banks are focusing on.In the digital era, knowing how much people earn, where they spend it and what they buy – information some wouldn't divulge to their closest confidants – is valuable, particularly when banks' earnings from lending and trading are under pressure from persistently low interest rates and tougher … [Read more...] about Dollars in the detail; banks pan for gold in ‘data lakes’
Business Airline Cathay Pacific has been found to have not followed data protection principles in relation to the security of passengers' personal data, Hong Kong's privacy watchdog said in a report published on Thursday. 06 Jun 2019 08:40PM Bookmark REUTERS: Airline Cathay Pacific has been found to have not followed data protection principles in relation to the security of passengers' personal data, Hong Kong's privacy watchdog said in a report published on Thursday.Last October Cathay said data on about 9.4 million of its passengers had been accessed without authorisation, adding that it had discovered suspicious activity on its network in March 2018 and that investigations in early May last year had confirmed that certain personal data had been accessed.The breach compromised 860,000 passport numbers and about 245,000 Hong Kong identity card numbers, Cathay had reported.Cathay Pacific shares slumped to nine-year lows after the October announcement.In Thursday's report the … [Read more...] about Privacy watchdog criticises Cathay Pacific over 2018 data breach
More than 70 per cent of consumers also would share that data for benefits including more-rapid loan approvals, discounts on gym memberships and personalised offers based on based on current location, according the report, which is based on Accenture’s global Financial Services Consumer Study. At the same time, however, people believe that privacy is paramount, with 83 per cent of respondents saying they are very cautious about the privacy of their personal data. Data security breaches were the biggest concern for consumers in Thailand, tied with increasing costs, when asked what would make them leave their bank or insurer. The survey was done online in May and June last year, drawing on of 47,000 consumers in 28 markets. Respondents were required to have a bank account and an insurance policy and covered multiple generations and income levels. Nontawat Poomchusri, country managing director and financial services practice lead for Accenture in Thailand, said … [Read more...] about Consumers want to be rewarded for shared data