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A site that’s been warning the public about data breaches might actually be doing more harm than good.
In fact, the giant repository is made up of stolen databases taken from LinkedIn, Myspace, Dropbox, and thousands of other sites. It bills itself as a data breach monitoring site and for months now, it’s been collecting details on hacks, both old and new, and alerting the media about them.
But the repository also features something that might be illegal: a search function that can look up all the stolen information. It’s also why LeakedSource is probably becoming a tool for novice hackers.
A hacking resourceFor US$2 a day, a subscriber at LeakedSource can enter an email address or username and find details on what internet accounts it was used to registered with. Not only that, LeakedSource will crack the associated passwords when it can.
On Monday, LeakedSource declined to answer questions about the legality of the site. The operators behind the service remain anonymous, but they say they don’t condone any hacking.
Instead, the site’s operators claim that all the information they store and index is already available on the internet.
Legal concernsThe site has also said it’s not responsible for any data breaches. It merely collects the stolen databases, often by searching through the Dark Web, or by receiving them from anonymous hackers, LeakedSource has said.
“Many of (the hackers) like what we do, some want to draw publicity to themselves and others don’t want their ‘enemies’ to be able to profit off selling data,” it said in an earlier email.
But even as it may not have been involved in any hacking, legal experts say the site’s activities can still be seen as a crime.
She questioned why a site — that claims to protect users’ data — offers a search function that can crack stolen passwords or look up someone else’s information.
“If the whole goal of the site is to warn me, it should never give out my password,” she said. “I think this is very suspicious. It doesn’t make sense.”
The site is essentially making money off of people’s stolen data — and potentially giving hackers a useful way to target victims with what services and user screen names they use, added Christopher Dore, a lawyer with the Edelson law firm.
Ongoing risksInternet users don’t necessarily need to panic. Many of the databases stored on LeakedSource are years old and might pertain to internet accounts they no longer in use.
For example, the LinkedIn database on file comes from 2012, and the company has already reset the stolen passwords affected. In other cases, the databases on file only contain hashed passwords that are almost impossible to crack.
But even so, that doesn’t mean the stolen data is useless. The biggest danger is that less tech-savvy users are re-using the same passwords across multiple internet accounts and forgetting to change them.
“Our Contact form volume has increased by a multiple of 100 from removal requests and we are unable to read other potentially important messages,” LeakedSource said at the time.
Users can still remove themselves from the LeakedSource site by visiting the site’s removal page.
His own site continues to evolve, to prevent Haveibeenpwned from revealing sensitive details on users.
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Cyber Liability Vs. Data Breach Insurance
Businesses face a lot of pressure to protect data and systems from data breaches and cybercrime. Failure to do so could result in millions of dollars in losses, according to data breach statistics that show the global average data breach cost is $3.86 million. Most small businesses don’t have the resources to handle a major breach, so it’s vital to find the right type of insurance for protection.
Getting the right policy can be confusing, however. Both cyber insurance and data breach insurance sound important, but they also sound similar. Here’s what you need to know about both insurance types and how to choose the right one for your business.
What’s the difference between cyber insurance and data breach insurance?Cyber insurance and data breach insurance are types of business insurance that sound similar, but they have distinct differences. If your business suffers a data breach, both insurance types will cover the primary financial interest – called first-party coverage – stemming from the exposed data. But only cyber insurance would provide legal protection – called third-party coverage.
In other words, data breach insurance covers the costs directly attributed to a data breach, such as lost revenue and credit monitoring, while cyber insurance also pays attorney’s fees and any regulatory fines assessed.
Data breach insurance will also cover losses that don’t involve a computer. For example, if someone infiltrates the records room of a doctor’s office and obtains protected health information (PHI), cyber insurance wouldn’t cover this breach, because it focuses on data loss or operations disruption due to electronic device interference or damage. Data breach insurance, however, would cover losses stemming from this non-computer-related breach.
Let’s break down each insurance type, what it covers, and what it doesn’t cover.
Tip
If you’re shopping for an insurance provider that offers data breach and cyber liability insurance, read our reviews of the best business insurance providers to find one that suits your needs.
What is cyber liability insurance?Cyber liability insurance is a commercial insurance policy that provides financial protection from losses due to cyberattacks or other tech-related risks. In a cyberattack, the cybercriminals can leak data, destroy it, or hold it for ransom. Cyber liability insurance will help you respond to the attack so that you can recover from the loss with the lowest impact possible.
Your cyber insurance policy provides both first-party and third-party coverage, meaning it covers direct losses as well as third-party expenses of claims made against you because of the data exposure.
What does cyber liability insurance cover?Cyber liability insurance covers two primary elements: first-party claims and third-party claims. It covers losses associated with PHI and personally identifiable information (PII) hacks as well as business interruption caused by nefarious parties.
These are some of the first-party claims that cyber insurance covers:
Investigatory costs
Repairs to damaged or lost equipment
Lost revenue
Consumer notification costs
Consumer credit-monitoring costs
Ransom paid to a hacker to restore files
These are some of the third-party claims covered by cyber insurance:
Legal fees
Settlements and court judgments
Incurred regulatory fines
Example of a cyber insurance claimLet’s say an accounting firm with a database of 2,000 clients is attacked with ransomware. The hijackers block access to the site until the firm pays a $100,000 ransom. The accounting firm files a claim with its insurance carrier. The insurance carrier may pay the ransom, but the insurer makes the final call. If the insurer decides not to pay the ransom, the insurer will pay network recovery costs and other costs related to lost income due to the attack.
FYI
There are conflicting views about paying ransomware. Some feel it’s the quickest and most cost-effective way to get up and running again when you factor in downtime costs. Others point out the risk that the data won’t be fully restored even if you pay. A business owner has to make the right decision for their own company.
Should my business choose cyber or data breach insurance?Your business type will determine whether you should get cyber liability or data breach insurance. In some cases, you may need both types of liability insurance to cover different risks.
For instance, if your operations are set on a network that also stores customer or proprietary data, you should get cyber liability insurance. This way, you’re protected if a cybercriminal infiltrates your network and steals data or shuts down your network and holds it for ransom.
If you have large PHI and PII databases, make sure you have data breach insurance – especially if the data isn’t held on a network but stored onsite or offsite in files. Medical practices and accounting firms are two examples of businesses that need data breach insurance. If your database is an online system, talk to your insurance carrier to determine if cyber coverage is enough to protect you.
How much does cyber insurance or data breach insurance cost?On average, you can expect to pay around $1,500 in premium costs for a year with $1 million in coverage. That’s usually with a high deductible of around $10,000.
However, the cost of either policy is contingent on many factors, and every business is different. When giving you a quote, the insurance carrier will want to know this information about your business:
How many customers you have
What type of sensitive data you store
Your overall revenue
Your claims history
Your insurance carrier may also consider who has access to your data. A company that has many employees or uses many third-party contractors may be at higher risk of cybercrime or data loss. The more people who can access your data, the more risk your company faces of that data being exposed.
Bottom Line
You’re more vulnerable to scams that prey on businesses when a lot of people have access to your data, so your policy will be more expensive.
Every business should be working to minimize the risk of data breaches and cybercrime. In case you do incur an attack, though, the right insurance coverage will go a long way in protecting your bottom line.
Smart Teddy Bear Maker Faces Scrutiny Over Data Breach Response
Did a toymaker ignore warnings about a data breach? That’s a key question swirling around Spiral Toys, a company behind a line of smart stuffed animals that security researchers worry can be easily hacked.
The statement is raising eyebrows. One researcher named Victor Gevers began contacting the toymaker about the problem in late December, when he noticed that a company MongoDB database storing customer information was publicly exposed.
Gevers has even documented his efforts to contact Spiral Toys, which involved email, sending a message to its CEO over a LinkedIn invite, and working with a journalist from Vice Media to try and warn the company about the breach.
Despite those attempts, he never received a response.
The breach only managed to grab headlines on Monday when another security researcher named Troy Hunt blogged about it.
Clashing viewsThe toys in question, which are sold under the CloudPets brand, can allow parents and their children to send voice messages through the stuffed animals over the internet. However, Hunt found evidence that hackers looted the exposed MongoDB database that stored the toys’ customer login information.
Why didn’t Spiral Toys act sooner? Its CEO Mark Meyers said on Tuesday that the company has checked its email inboxes, but didn’t find any messages from security researchers warning about the breach.
Nevertheless, Spiral Toys didn’t speak with the journalist. “I can tell you, I think he was going to write an article that was damning one way or another. Why would you add to that?” Meyers said in an interview Monday.
Ongoing concernsBut security researchers don’t agree. It appears that several hackers have looted the exposed database from Spiral Toys, according to Hunt. Although the passwords exposed in the breach are hashed, cracking them can be easy, because many of them were created with guessable terms such as 123456, qwerty and cloudpets, he said.
“I’m just stunned at the nonchalance and total disregard for the privacy of parents and their kids,” Hunt said of Spiral Toys’ initial response to the incident.
To deal with the breach, Meyers said on Monday it planned on forcing users to reset their passwords. But Hunt is questioning why the company didn’t act faster.
Gevers said in a Twitter message: “I think I have tried enough to make contact.” However, he’d still like to speak with Spiral Toys about properly informing their customers about the breach.
Legal ramificationsA company like Spiral Toys, which is based in California, is required under state law to report a data breach involving user’s personal information. But it’s not unusual for a company to need several weeks or months to thoroughly investigate a breach before reporting it, said Lothar Determann a partner at law firm Baker McKenzie, who wrote a book on California privacy law.
“Companies have a duty to investigate breaches thoroughly,” he said. In that away they can avoid false alarms that might needlessly scare consumers or end up throwing a business partner under the bus.
Whether a plaintiff will win is another matter. Proving a data breach caused actual harm can often be speculative, he said.
On Tuesday, Spiral Toys said the company would file a data breach report in California once its addressed customers’ needs. But the company added that it’s found no evidence that any voice recordings made over the toy systems were exposed.
“The CloudPet services have been running safely since March 2023 and we are taking all steps necessary to continue to run safely on our production servers,” the company claimed in a statement.
Why Synthetic Data And Deepfakes Are The Future Of Data Analytics?
Synthetic data can help test exceptions in software design or software response when scaling.
It’s impossible to understand what’s going on in the enterprise technology space without first understanding data and how data is driving innovation.
What is synthetic data?Synthetic data is data that you can create at any scale, whenever and wherever you need it. Crucially, synthetic data mirrors the balance and composition of real data, making it ideal for fueling machine learning models. What makes synthetic data special is that data scientists, developers, and engineers are in complete control. There’s no need to put your faith in unreliable, incomplete data, or struggle to find enough data for machine learning at the scale you need. Just create it for yourself.
What is Deepfake?Deepfake technology is used in synthetic media to create falsified content, replace or synthesizing faces, and speech, and manipulate emotions. It is used to digitally imitate an action by a person that he or she did not commit.
Advantages of deepfakes:Bringing Back the Loved Ones! Deepfakes have a lot of potential users in the movie industry. You can bring back a decedent actor or actress. It can be debated from an ethical perspective, but it is possible and super easy if we do not think about ethics! And also, probably way cheaper than other options.
Chance of Getting Education from its MastersJust imagine a world where you can get physics classes from Albert Einstein anytime, anywhere! Deepfake makes impossible things possible. Learning topics from its masters is a way motivational tool. You can increase the efficiency, but it still has a very long way to go.
Can Synthetic Data bring the best in Artificial Intelligence (AI) and Data Analytics?In this technology-driven world, the need for training data is constantly increasing. Synthetic data can help meet these demands. For an AI and data analytics system, there is no ‘real’ or ‘synthetic’; there’s only data that we feed it to understand. Synthetic data creation platforms for AI training can generate the thousands of high-quality images needed in a couple of days instead of months. And because the data is computer-generated through this method, there are no privacy concerns. At the same time, biases that exist in real-world visual data can be easily tackled and eliminated. Furthermore, these computer-generated datasets come automatically labeled and can deliberately include rare but crucial corner cases, even better than real-world data. According to Gartner, 60 percent of the data used for AI and data analytics projects will be synthetic by 2024. By 2030, synthetic data and deepfakes will have completely overtaken real data in AI models.
Use Cases for Synthetic DataThere are a number of business use cases where one or more of these techniques apply, including:
Software testing: Synthetic data can help test exceptions in software design or software response when scaling.
User-behavior: Private, non-shareable user data can be simulated and used to create vector-based recommendation systems and see how they respond to scaling.
Marketing: By using multi-agent systems, it is possible to simulate individual user behavior and have a better estimate of how marketing campaigns will perform in their customer reach.
Art: By using GAN neural networks, AI is capable of generating art that is highly appreciated by the collector community.
Simulate production data: Synthetic data can be used in a production environment for testing purposes, from the resilience of data pipelines to strict policy compliance. The data can be modeled depending on the needs of each individual.
More Trending Stories:The Importance Of First Party Data Activation
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Cookies going away in Chrome?
They already have been eliminated from the most popular browser on the mobile market – Safari.
How does this affect marketing & sales? What about Shopify merchants?
Brent Ramos, Product Director at Adswerve, joined me to discuss incremental measurement in ecommerce and beyond.
We talked about the importance of first-party data and the possibility of losing a lot of the third-party data that we’re getting through cookies on the Chrome browser.
Third-party data will probably always exist in some format, to some kind of degree, and not all third-party data is bad. First-party data is certainly not bad. It’s required for many daily things that we as consumers experience that we enjoy. So those first-party cookies will persist and will persist more than the third card, third-party cookies. –Brent Ramos, 05:58
Those touchpoints make up a full, wholesome persona of what a real human being could look like. And so it’s not a matter of how you collect it, but it’s a matter of having you started? And what are you doing? See it with an eye to activation. –Brent Ramos, 07:20
From the consumers’ point of view, they will be getting a better experience. They should be able to have better conversations with their brands across all of the different touchpoints and channels in a way that’s responsible and appropriate. And it’s useful all at the same time. –Brent Ramos, 11:10
[22:01] – Samples of first-party campaigns.
Resources mentioned:
So the faster you can get first-party data and lifetime value modeling embedded into your bids, the better you will be. And you won’t have to worry about competition nearly as much when you know you can do that. –Brent Ramos, 26:52
Once you add lifetime value into the equation, no matter what the attribution channel, you’re just talking in a different language. Which is more so marketing than direct response that we’re used to talking with an SEO. –Loren Baker, 24:07
It’s only going to force firms and agencies to become better storytellers. That’s really what the core component is. –Brent Ramos, 11:10
Connect with Brent Ramos:
Brent is a seasoned digital entrepreneur and ad tech expert with over 15 years of experience. He combines his expertise in front-line tactics and high-level strategy to help clients use the Google Marketing Platforms to achieve their goals.
He has been focused on delivering the highest level of predictable success possible based on new ideas that lead to high-level strategic marketing success as Product Director at Adswerve.
Connect with Loren Baker, Founder of Search Engine Journal:
Leveraging The Benefits Of Big Data In Payroll
The big data revolution is transforming the business landscape – not least in the form of the benefits, it can deliver for payroll departments. The modern business landscape thrives on information – not least in payroll departments, where employees must handle a variety of specialised information to carry out the pay process each month. But data is only as useful as your business’ ability to exploit and handle it – which is why the big data revolution is such an interesting proposition for payroll.
The application of big data in business is growing. Recent research revealed that, in 2023, the adoption of big data reached 53% – a dramatic rise from 17% in 2023. Big data applications promise to transform payroll, adding efficiency and insight to the process, and helping employers achieve a greater degree of compliance – but, if you’re considering ways to integrate big data into your payroll deployment and want to avoid
common payroll mistakes
, it’s worth understanding the benefits before you make the leap.
Finding TalentPayroll is a process which succeeds on the of its employees – but finding those recruits represents a formidable challenge for employers. One of the most interesting applications of big data is to help employers build a multi-skilled payroll workforce by scrutinising factors such as employee feedback, customer surveys, sales data and industry trends – and using that information to formulate hiring strategies. Similarly, big data could help recruiters identify the kinds of employee they need to be hiring – and where to find them.
Record KeepingPayroll involves the management and storage of varying amounts of data on a daily basis. One of the more practical applications of big data tools, including , is to provide a space for the storage and access of that data – which includes work hours, overtime, sickness and pension benefits, tax codes and so on. The ability to navigate that data efficiently during the pay process represents a valuable benefit for payroll administrators.
Addressing MistakesBig data offers employers a new perspective on the finer details of their payroll process – and the various small errors and problems which might be holding it back. From compliance challenges to missed deadlines, the analytic capability of big data can reveal where those errors are occurring, and how often – helping to establish trends over time, and revealing ways employers can enhance payroll infrastructure. Similarly, analytics tools can be used to tweak payroll performance with increased precision – delivering productivity boosts over the long and short-term, during a weekly or monthly pay process.
Career Development OptionsPayroll employees are amongst the most specialised members of your workforce, so it’s vital they have the opportunity to develop and direct their careers – rather than risking stagnation and brain-drain. Big data analytics can help employers examine the details of the employee experience at both a local and industry-level. That insight can be used to help direct career development – from which training opportunities would work best for members of your workforce, to the salaries which might be offered to help retain talent.
Global SolutionsBusinesses with a global footprint have vastly increased payroll data concerns – but must contend with uneven and unpredictable compliance environments. Big data tools help businesses with international interests manage and harmonise the data they generate across their international territories – and use it to develop and implement a . Big data offers a way to contend with fluctuations in exchange rates, complicated compliance regulations, and even the administrative challenges of distance and time zones.
Decision MakingWhile big data tools have plenty of practical, immediate applications, they can also contribute significantly to a business’ decision making strategy. Going beyond the imitations of the human perspective, Big data analysis can reveal trends and patterns which might have been otherwise impossible to predict. With this in mind, big data might be used to challenge conventional approaches to payroll administration, preparing a business for upcoming challenges or changes in legislation, and for making about its future – like whether to transition to monthly or weekly pay, or whether to outsource aspects of the payroll process to a service provider.
Thinking Outside the BoxThe modern business landscape thrives on information – not least in payroll departments, where employees must handle a variety of specialised information to carry out the pay process each month. But data is only as useful as your business’ ability to exploit and handle it – which is why the big data revolution is such an interesting proposition for payroll.Payroll is a process which succeeds on theof its employees – but finding those recruits represents a formidable challenge for employers. One of the most interesting applications of big data is to help employers build a multi-skilled payroll workforce by scrutinising factors such as employee feedback, customer surveys, sales data and industry trends – and using that information to formulate hiring strategies. Similarly, big data could help recruiters identify the kinds of employee they need to be hiring – and where to find them.Payroll involves the management and storage of varying amounts of data on a daily basis. One of the more practical applications of big data tools, including, is to provide a space for the storage and access of that data – which includes work hours, overtime, sickness and pension benefits, tax codes and so on. The ability to navigate that data efficiently during the pay process represents a valuable benefit for payroll chúng tôi data offers employers a new perspective on the finer details of their payroll process – and the various small errors and problems which might be holding it back. From compliance challenges to missed deadlines, the analytic capability of big data can reveal where those errors are occurring, and how often – helping to establish trends over time, and revealing ways employers can enhance payroll infrastructure. Similarly, analytics tools can be used to tweak payroll performance with increased precision – delivering productivity boosts over the long and short-term, during a weekly or monthly pay process.Payroll employees are amongst the most specialised members of your workforce, so it’s vital they have the opportunity to develop and direct their careers – rather than risking stagnation and brain-drain. Big data analytics can help employers examine the details of the employee experience at both a local and industry-level. That insight can be used to help direct career development – from which training opportunities would work best for members of your workforce, to the salaries which might be offered to help retain talent.Businesses with a global footprint have vastly increased payroll data concerns – but must contend with uneven and unpredictable compliance environments. Big data tools help businesses with international interests manage and harmonise the data they generate across their international territories – and use it to develop and implement a. Big data offers a way to contend with fluctuations in exchange rates, complicated compliance regulations, and even the administrative challenges of distance and time zones.While big data tools have plenty of practical, immediate applications, they can also contribute significantly to a business’ decision making strategy. Going beyond the imitations of the human perspective, Big data analysis can reveal trends and patterns which might have been otherwise impossible to predict. With this in mind, big data might be used to challenge conventional approaches to payroll administration, preparing a business for upcoming challenges or changes in legislation, and for makingabout its future – like whether to transition to monthly or weekly pay, or whether to outsource aspects of the payroll process to a service chúng tôi true power of big data lies in its potential to change the way businesses think about payroll and how it should be delivered by their organisation. The innovation inherent in big data technology continues to gather pace, meaning that employers can explore for themselves the ways in which they can use it to make positive changes in their organisations. As payroll software and digital tax tools are integrated further into the business landscape, the data generated by payroll departments will continue to expand and evolve – to continue to enjoy the benefits of big data, employers must learn to evolve with it.
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