Catch Up on Cybersecurity and Data Breach Headlines: Jan 12, 2018

The weekend is here! Before you go off to your weekly relaxation ritual, here’s a roundup of the cybersecurity news from this week you may have missed!

Senators Introduce Credit Reporting Data Breach Fine Legislation

Senators Elizabeth Warren (D-MA) and Mark Warner (D-VA) jointly introduced a bill on Wednesday that would fine major corporations, especially credit reporting agencies, for data breaches and lax customer data protection. The Equifax hack from last year served as the principal motivation for the bill.

Senator Warren said in a statement: “The financial incentives here are all out of whack. Equifax allowed personal data on more than half the adults in the country to get stolen, and its legal liability is so limited that it may end up making money off the breach.”

The bill has not yet been debated on the floor nor has it passed through the various House and Senate subcommittees that must review and revise the bill before a formal vote. Depending on how the bill is worded when and if it is passed, it could prove either a GDPR-level legislation or a simple slap on the wrist. Only time will tell.

International Olympics Committee’s Emails Leaked by Russian Hackers

The International Olympics Committee (IOC) and other Olympics-affiliated organizations allegedly suffered from a breach exposing their private email exchanges. The emails, which span from late 2016 to early 2016, concern Russian anti-doping investigations. The emails have not been confirmed as authentic; earlier leaks have included false information to exacerbate the damage.

The hackers responsible refer to themselves collectively as Fancy Bears; they are allegedly connected to Russia’s intelligence agency GRU, and may have initiated the breach in retaliation for Russia’s ban from the 2018 Winter Olympics in South Korea. The leaks focused on individuals prominently associated with the recent investigations into Russia’s doping practices.   

As of time of writing, the hack appears to have had little effect on the IOC or other Olympic organizations. The Winter Olympics begin February 9.