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Legal Action

Legislators block California data protection expansion

California lawmakers Thursday blocked expansion of data privacy law handing a victory to the tech industry collection, storage and use of consumer information. The proposed expansion would have given customers the right to know what data companies were collecting from them as well as the right to delete and restrict the sell of information. The…

Ten indicted in U.S. as authorities crack down on GozNym banking trojan network

A coordinated international law enforcement operation in the U.S. and Europe has dismantled the GozNym cybercriminal network responsible for infecting roughly 41,000 computers with banking malware and stealing approximately $100 million from victims. A U.S. federal indictment unsealed today charges 10 individuals with conspiracy to commit computer fraud, conspiracy to commit wire fraud and bank…

Equifax data breach recovery costs pass $1 billion

In Equifax’s latest Security and Exchange Commission filing the company is estimating it has spent about $1.4 billion recovering from its 2017 data breach that exposed the PII of 148 million customers, according to a published report. This includes a $690 million charge made during the first quarter of 2019 related to outstanding litigation and…

ChinaLaw

Members of China-based hacking firms indicted for Anthem breach, among other breaches

Members of China-based hacking group were indicted for series of computer intrusions, including the 2015 Anthem data breach that affected over 78 million people. The four-count indictment alleges that Fujie Wang, 32, and other members of the hacking group, including another individual charged as John Doe, conducted a campaign of intrusions into U.S.-based computer systems…

Europol announces takedown of Wall Street Market and Valhalla dark web markets

Europol today announced it dealt a double blow to dark web marketplaces after taking down both the Wall Street Market and Silkkitie, aka The Valhalla Marketplace. The Wall Street Market was considered the second largest illegal online market on the dark web with more than 1,150,000 customer accounts and more than 5,400 sellers registered. The…

Two Romanians convicted for roles in Bayrob malware operation

Two Romanian nationals were convicted in an Ohio federal court on Thursday for their roles in the Bayrob group, an organization that launched a multi-million-dollar cybercriminal operation fueled by its own proprietary malware. Bogdan Nicolescu, 36, and Radu Miclaus, 37, were found guilty on separate 21 counts for developing and spreading the Bayrob trojan, which…

Yahoo offers $117 million to settle 2016 data breach suit

Yahoo has more than doubled its proposed data breach settlement payout to $117.5 million after having a smaller amount rejected by a California judge in January. The original $50 million amount was rejected by U.S. District Judge Lucy Koh who said she couldn’t declare the settlement “fundamentally fair, adequate and reasonable” because it did not…

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