SUNDAY, 21 OCT 2018

 

CONNECT

Facebook Linked In Twitter
INB_1000_Eng_03/08-15/11_728x90px
GloriaJeans_266x90px
IMH LTD

Anastasiades’ Meeting with Akinci set for October 26

Lazarou: Cyprus on Track to Achieve Full Absorption of EU Funds

IMH LTD
CIFA_12/10-13/11_468x60px

INTERNATIONAL

brought to you by CIPA

Yahoo Fined £250,000 over Cyber-Attack

Yahoo Fined £250,000 over Cyber-Attack

Yahoo's UK arm has been fined £250,000 ($335,000) by the UK Information Commissioner's Office (ICO) over a data breach affecting more than 500 million users which took place in 2014.

The incident was reported two years later.

According to the BBC, the firm said "state-sponsored" hackers had stolen personal information, which included names, emails, unencrypted security questions and answers.

The ICO said Yahoo had failed to take appropriate measures to protect it.

Yahoo said it did not comment on regulatory action.

"The failings our investigation identified are not what we expect or will accept from a company processing significant volumes of personal data," wrote deputy commissioner of operations James Dipple-Johnstone in a blog.

"Yahoo! UK Services Ltd had ample opportunity to implement appropriate measures, and potentially stop UK citizens' data being compromised."

Around eight million of the affected accounts were believed to belong to people in the UK.

The ICO's investigation also found:

The firm failed to ensure that its Yahoo-owned data processor "complied with the appropriate data protection standards"
It did not ensure that the credentials of employees with access to customer data were monitored
There was "a long period of time" before the flaws which led to the breach were discovered or addressed

 

Verizon acquired Yahoo in 2017 and combined it with AOL to form a company called Oath.

The firm was investigated under the UK 1988 Data Protection Act which pre-dates the new European data regulation GDPR.

Tony Pepper, CEO of Egress Software Technologies, said the data breach would go down in history as "one of the most notorious" - both because of its size and the two-year period between the attack and the report.

"Although the fine has been a long time coming, I imagine there would be some sighs of relief that the investigation was carried out under the Data Protection Act, rather than the GDPR which has much tougher consequences for a breach," he said.

 

MORE ON INTERNATIONAL

China Grows at Slowest Pace since 2009

China has reported its slowest quarterly growth rate since the global financial crisis. ...

Annual inflation Up to 2.1% in the Euro Area

The Euro area annual inflation rate was 2.1% in September 2018, up from 2.0% in August. A ...

Netflix Hits New Subscriber Record

Netflix added seven million new customers in the three months to September, bringing its ...

FROM AROUND GOLDNEWS

   

China Grows at Slowest Pace since 2009

China has reported its slowest quarterly growth rate since the global financial crisis. The growth figure for the July to September quarter was 6.5% from a ...
   

Lazarou: Cyprus on Track to Achieve Full Absorption of EU Funds

Cyprus in on track to achieve full absorption of the EU funds earmarked for Cyprus in the programme period of 2014-2020, Lazaros Lazarou member of the EU Court ...
   

CBC: Residential Prices Index Rises for Eight Quarters but Prices Remain Moderate

The increase of residential property prices remains moderate the Central Bank of Cyprus (CBC) has said as the residential property price index in the second ...
   

Cryptos: The Future or the Next Bubble?

Cryptocurrencies have undoubtedly been the centre of attention in the markets since they were introduced. Considering the fact that everything is gradually ...
   

MAP S.Platis Awarded Contract for the Provision of Services to EASO

MAP S.Platis Group is delighted to announce the award of a Contract for the Provision of Interim Services to the European Asylum Seekers Office (EASO) in ...
   

Cobalt Air License Revoked, Company Recorded Annually €30m Losses in the Past Three Years

Cyprus’ Air Transport Licensing Authority (ATLA) decided to revoke Cobalt Air’s operating license, Alecos Michaelides, the Permanent Secretary of ...
   

Cyprus Airways Offers Free Tickets to Cobalt’s Passengers

Cyprus Airways expresses its sorrow for Cobalt’s suspension of operation and its support to everyone affected. Cyprus Airways, aiming to minimize ...
   

TUS Airways Supports Cobalt's Passengers Offering a 20% Discount

The Cyprus-based airline, TUS Airways: “Τhe Ultimate Schedule” will offer Cobalt's passengers, who already bought tickets, a 20% discount in ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Infocredit_01/08-30/11_300x250px
Dale_Carnegie_LTM_300x250px

IMH LTD