IT Security & Privacy

France's data protection authority, known as CNIL, has expressed concerns over the legality of biometric data collection by Sam Altman's Worldcoin project. The project, which launched recently, requires users to provide iris scans in exchange for a digital ID and, in certain countries, free cryptocurrency. While Worldcoin claims to have registered 2.1 million people in a trial period over the last two years, CNIL has raised doubts about the legality and data storage conditions surrounding this collection.

In recent months, the Akira ransomware group has emerged as a significant cybersecurity threat, causing disruptions and financial losses to a wide range of organizations worldwide. The group's tactics, specifically targeting small- to medium-sized businesses, underscore the need for increased vigilance and proactive measures to defend against such sophisticated attacks.

In a landmark decision, the Securities and Exchange Commission (SEC) has voted 3-2 to adopt new regulations that will require publicly traded companies to notify the government in the event of a cybersecurity incident and disclose details about their cybersecurity risk governance in public filings. The rules, initially proposed in 2022, aim to increase transparency around cybersecurity practices and material incidents in the corporate world.

Australia's Federal Court has ruled that Meta Platforms, the owner of Facebook, must pay fines amounting to A$20 million (approximately $14 million US) for collecting user data through a smartphone application marketed as a privacy protection tool without disclosing its true actions. The court also ordered Meta, through its subsidiaries Facebook Israel and the now-defunct app Onavo, to cover A$400,000 in legal costs to the Australian Competition and Consumer Commission (ACCC), which filed the civil lawsuit.

In its annual Cost of a Data Breach Report, IBM Security has unveiled concerning findings that the global average cost of a data breach has reached $4.45 million in 2023. This figure marks an all-time high for the report and reflects a significant 15% increase over the last three years. The report is based on a comprehensive analysis of real-world data breaches experienced by 553 organizations worldwide between March 2022 and March 2023. The research, conducted by Ponemon Institute and sponsored and analyzed by IBM Security, has been published for 18 consecutive years.

Meta Platforms, the parent company of Facebook, faced a setback in its efforts to settle an antitrust investigation by EU regulators. The company offered to limit the use of competitors' advertising data for its Facebook Marketplace service, but the proposal was not accepted, according to sources close to Reuters.

The European Commission's adequacy decision on the EU-US Data Privacy Framework (EU-US DPF) marks a significant step forward for data transfers between the European Union and the United States. With the adequacy finding, certified US entities can now receive personal data from EU counterparts without the need for additional safeguards like the EU Standard Contractual Clauses. While this is undoubtedly positive news for cross-border data flows, businesses must carefully assess the practical implications and challenges associated with compliance under the new framework.