The New York Times, among others, reports that the International Monetary Fund (IMF) has been hit by a large and sophisticated cyber attack.
News of the breach at the IMF comes just days after it emerged that a hacker attack at Citibank in May exposed customer account names, numbers and contact information of approximately 1 percent of Citibank’s 21 million users. Â
According to the NYT, concern about the attack at the IMF was so significant that the World Bank cut the computer link that allows the two institutions to share information.
The NYT says:
Businesses face a potentially enormous liability when a data breach occurs. An article by Rodd Zolkos at Business Insurance notes that increasing legislation and regulation at the Federal and state levels related to data breaches is contributing to higher success rates for cyber plaintiffs in court and rising potential costs for companies.
Check out further I.I.I. facts and stats on identity theft.
Cavalcade of Risk #134 now up
Julie Ferguson presents this week’s epic collection of risk-related posts:
http://www.workerscompinsider.com/2011/06/cavalcade-of-ri-83.html
Please tell your readers.
And a friendly reminder to newbies and regulars alike that, while it’s not mandatory to give a link back, it’s the way that carnivals work best. If your submitted post has been included in the Cav, please remember to post about it on your blog because it helps us all.
Thanks!
Hank Stern