A Bank of Italy report on the risk of cyberattacks against small businesses indicates that one third of them suffered damages from such attacks

The Bank of Italy has published a report that focuses on preliminary evidence on the risk of cyber-attacks in the private sector.  It is an annual survey spanning from September, 2015 to September, 2016 on companies with more than 20 employees in industry and non-financial services.

The report is available here

U.S. Chicago District

The U.S. Chicago District Judge Edmond E. Chang has issued a Memorandum Opinion and Order that Google Inc. is subject to claims because, when gathering and storing biometric data of millions of users without their consent, it violated their privacy.
A similar case is pending in front of the San Francisco Federal Court against Facebook Inc.

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Italian Association for IT Security (CLUSIT)

The Italian Association for IT Security (CLUSIT) released its 2016 report on 22.02.2017, which indicated that 2016 was “the worst year ever in terms of the evolution of the cyber threat and the relative impact”.  CLUSIT reports that in 2016, phishing attacks increased to a rate of 1,166% with respect to the previous year.  The report states that the highest increase was registered in the health sector (+ 102% over 2015), large-scale retail (+ 70% over 2015), and banking and finance (+ 64% over 2015).

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Companies settle FTC charges on false representation of online privacy policies

The Federal Trade Commission (FTC) took three U.S. companies to settle on the its charges on deceiving customers for false representation of online privacy policies, related to their participation in the Asia-Pacific Economic Cooperation (APEC) Cross-Border Privacy Rules (CBPR) system.

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Yahoo pays a high price for the data breach it suffered in 2014

Yahoo pays a high price for the data breach it suffered in 2014, in terms of market value.  The damage is worth 0 million in the negotiations to complete the sale of Yahoo’s core operations to Verizon, an overall deal that will still value more than billion but now reduced of 0 million from the initial deal.  Additionally, reports indicate that Verizon has requested Yahoo to share liability for any damages that result from government investigations or other litigation.  This will create additional stress on the Company, which has already suffered the erosion of customers’ confidence and the risk of expensive sanctions and litigation.

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