Compliance

Cybercrime Will Become Uninsurable, Zurich Insurance CEO Warns

Cybercrime Will Become Uninsurable, Zurich Insurance CEO Warns

The CEO of Zurich Insurance, one of Europe’s largest insurance companies, has said that cybercrime could soon become uninsurable, warning that the risks surpassed climate change and pandemics. “What will become uninsurable is going to be cyber,” said CEO Mario Greco, speaking to the Financial Times. “What if someone takes control of vital parts of our infrastructure, the consequences of that?”

Ireland’s DPC Launches Twitter Inquiry after Breach Affects 5.4 Million Users

Ireland’s DPC Launches Twitter Inquiry after Breach Affects 5.4 Million Users

Ireland’s Data Protection Commission (DPC) has launched a Twitter inquiry after a breach affected over 5.4 million users through an API vulnerability. DPC launched the inquiry under section 110 of the Data Protection Act and will look into any General Data Protection Regulation (GDPR) violations. The DPC is one of the foremost Big Tech regulators within the EU, having previously fined both Meta and Twitter for failing to comply with GDPR.

Epic Games Fined $520 Million for Violating Child Privacy and Deceptive Pricing

Epic Games Fined $520 Million for Violating Child Privacy and Deceptive Pricing

Epic Games has reached a cumulative $520 million settlement with the Federal Trade Commission (FTC). The creator of Fortnite, Epic Games, was found to have tricked customers with in-game purchases, resorting to deceptive pricing patterns. The settlement also includes a record-breaking $275 million fine for Children’s Online Privacy Protection Act (COPPA) violations.

Meta Fined €265 Million for GDPR Breach Involving Data Scraping

Meta Fined €265 Million for GDPR Breach Involving Data Scraping

The Irish Data Protection Commission (DPC) has fined Meta €265 million ($277 million) for GDPR violations that affected over 533 million users. The DPC inquiry began in April 2021, but Meta claims web scrapers harvested data in 2018 and 2019. The sensitive information includes mobile phone numbers, genders, locations, relationship statuses, occupations, dates of birth, names, and email addresses. Cybercriminals have shared the information on hacking forums.

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