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Cyber Security News and Prosecutions – May|June 2016

By CIEEM Insurance Services
27.05.16

Cyber cover may be useless if your employees hack your data

Legal experts are warning that businesses’ cyber security cover may be invalidated by insurers if employees hack company data. Most standard cyber and data protection policies only provide cover for first- and third-party liabilities, which means that your company may not be covered for incidents that result from deliberate or criminal behaviour by an employee. For that reason, contact CIEEM Insurance Services to understand the limits of your cyber liability policy.

TalkTalk’s profits halved after suffering from cyber attack

This past October, TalkTalk revealed that cyber criminals had gained access to the private information of 1.2 million of its customers. The security breach has cost the company £83 million—£43 million of which is directly related to the cyber attack. As a result of the breach, the company’s profits have been more than halved. However, TalkTalk has reported that it has been recovering quickly as a result of focusing on rebuilding its relationship with its customers.

EU campaign firm fined for sending spam texts

Better for the Country Ltd (also known as Leave.EU) was fined £50,000 by the Information Commissioner’s Office (ICO) after it was discovered that it had sent more than 500,000 text messages without recipients’ consent. The company was attempting to convince people to support the campaign to leave the EU through text messages, but it did so without following the ICO’s rules about sending marketing messages. In its investigation, the ICO discovered that the company had obtained the phone numbers through a third-party supplier. While the numbers were originally obtained from people that had given their consent to receive information on a variety of subjects, they had not consented to receive information on EU politics.

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