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CEOs' pay should be slashed if firms fail to protect against online attacks

ZDNet

Telco TalkTalk was breached in late 2015 after hackers exploited an SQL flaw and exposed details of over 100,000 customers. A new UK parliamentary report recommends that businesses face escalating fines for cybersecurity breaches, with the biggest penalties reserved for firms that succumb to "plain vanilla" intrusions, such as the SQL attack on telco TalkTalk. The heaviest penalties should be levied against companies that experience "continued vulnerabilities and repeated attacks", the report from the UK's Culture, Media and Sport Committee notes. It's also recommended that a "portion of CEO compensation should be linked to effective cybersecurity" and that companies appoint a chief security officer. TalkTalk was breached in late 2015 after hackers exploited an SQL flaw and exposed details of over 100,000 customers.


Ragesh Shanavas (@rsz619mania)

#artificialintelligence

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TalkTalk hack attack: Friends jailed for cyber crimes

BBC News

Two friends who took part in a £77 million hack on the TalkTalk website have been jailed. Matthew Hanley, 23, and Connor Allsopp, 21, both from Tamworth in Staffordshire, admitted their roles in the massive 2015 data breach which affected 1.6 million accounts. Hanley, described as a "dedicated hacker", shared details of more than 8,000 customers with Allsopp. At the Old Bailey, Hanley was jailed for 12 months and Allsopp for eight. Sentencing, Judge Anuja Dhir QC said they were "individuals of extraordinary talent".


Firms face 20million fines for losing your private data

Daily Mail - Science & tech

Companies will face fines of up to 20million if they lose customers' personal data in cyber-attacks. A damning report by MPs called for watchdogs to be given the ability to hammer firms in the pocket if they fail to safeguard sensitive information. Bosses should also be penalised if their business suffers a data breach – with their own pay and perks linked to effective online security, the culture, media and sport select committee has said. And criminals who hack and sell private information – including names, addresses, phone numbers and bank details – should be jailed for up to two years, according to the cross-party panel. The far-ranging recommendations were included in a report, dubbed a'giant wake-up call', which was triggered by a series of huge data losses at communications giant TalkTalk.


Two men jailed for involvement in TalkTalk hacking

The Guardian

Two friends have been jailed for their roles in hacking the telecommunications company TalkTalk. Matthew Hanley, 23, and Connor Allsopp, 21, both from Tamworth in Staffordshire, admitted charges relating to the huge breach of customer details in 2015, which cost the company £77m. At the Old Bailey on Monday, the judge, Anuja Dhir QC, jailed Hanley for 12 months and Allsopp for eight months. She said it was a tragedy to find "two individuals of such extraordinary talent" in the dock. Dhir told the men: "You were both involved in a significant, sophisticated systematic hack attack in a computer system used by TalkTalk. The prosecution accept that neither of you exposed the vulnerability in their systems, others started it, but you at different times joined in."