My Tiny Feed

mk.ru

Russia to Compensate for Data Breaches?

Russia is considering compensating citizens for moral damages from data breaches, with payouts ranging from 1000 to 5000 rubles. Experts debate the effectiveness and potential impact of this initiative.

Read original article in Russian

Russian

Russia

CybersecurityData PrivacyInsuranceCybercrimeLegal ActionFinancial Compensation

All-Russia Union Of Insurers (Vcs)Amsec24ShardKredchekInternational Confederation Of Consumer Societies (Konfop)

Maxim KolyadovGrigory OsipovEkaterina MalininElman MekhtievDiana Sork

What are the potential challenges and limitations of the proposed compensation mechanism?: While the proposed compensation could serve as a deterrent and raise awareness, the practical challenges remain. Proving damages in court can be difficult, and the compensation amount might not be enough to cover the costs associated with resolving such issues. It is also unclear how this insurance would affect the cost of various products and services.
What factors have contributed to the increase in cyberattacks and data breaches in Russia?: The initiative to insure moral damages from data breaches is a response to the increasing number of cyberattacks targeting Russian companies, especially since the start of the war in Ukraine. Leaks of sensitive data, like medical information or data related to sexual goods and services, pose significant risks to individuals.
What initiative has been proposed to address the issue of personal data breaches in Russia?: The All-Russia Union of Insurers (VCS) proposed compensating Russians for moral damages from data breaches, with payouts ranging from 1000 to 5000 rubles depending on the type of information stolen. This initiative aims to address the growing problem of personal data leaks and the resulting financial and reputational harm to citizens.
What is the estimated total damage from fraudulent calls and data leaks in Russia by the end of 2024?: The total damage from fraudulent calls and data leaks in Russia could reach 250 billion rubles by the end of 2024, according to analysts. Marketplaces and medical organizations are the main sources of these leaks, with the banking sector accounting for only 2% of the cases.
What are the expert opinions on the effectiveness of the proposed compensation for moral damages from data breaches?: Experts have mixed opinions on the effectiveness of the proposed compensation. While some believe it's a step in the right direction and might increase company responsibility, others argue that the amount is too small to cover actual losses and that it might increase the cost of goods and services.

Jan 23, 01:10

DHS Dismantles Advisory Committees, Halting Major Cybersecurity Investigation

The Department of Homeland Security terminated all its advisory committees, including the Cyber Safety Review Board investigating the Chinese-linked "Salt Typhoon" hack of US telecom companies, halting a major cybersecurity investigation and eliminating decades of institutional expertise.

Jan 23, 01:10

Davos CEOs Discuss AI's Impact, Anticipate Increased Deal-Making Under Trump

At the World Economic Forum in Davos, CEOs from CrowdStrike, Goldman Sachs, Microsoft, and Salesforce discussed the impact of AI on their businesses, with predictions of increased deal-making under a potential Trump administration and concerns over cybersecurity.

Jan 23, 01:10

Danish Medical Data Breach Exposes 130,000 Patient Records

A data breach at a Danish medical practice group exposed the sensitive information of 130,000 patients, including names, addresses, national identification numbers, and treatment protocols, nearly a month after the initial cyberattack, sparking public outrage over the delayed notification.

Jan 23, 01:10

Scammers Exploit Hostage Release for Fraudulent Fundraising

Following the release of three hostages from 471 days of Hamas captivity, scammers created fraudulent fundraising campaigns, collecting tens of thousands of dollars before being exposed; authorities urge the public to verify legitimacy before donating.