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First American Financial Pays Farcical $500K Fine

Krebs on Security

Securities and Exchange Commission settled its investigation into the matter after the Fortune 500 company agreed to pay a paltry penalty of less than $500,000. The SEC says First American derives nearly 92 percent of its revenue from its title insurance segment, earning $7.1 This week, the U.S. First American Financial Corp.

Insurance 282
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Security Compliance & Data Privacy Regulations

eSecurity Planet

Regulatory compliance and data privacy issues have long been an IT security nightmare. GDPR (among other legal requirements in the EU and elsewhere) can expose multinational organizations to hefty financial penalties, additional rules for disclosing data breaches, and increased scrutiny of the adequacy of their data security.

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Federal Banking Regulators Request Comment on Proposed Guidance for Third-Party Risk Management

Hunton Privacy

According to the Regulators, the Proposed Guidance largely would adopt the text of the OCC’s 2013 guidance, broadening its scope to include organizations supervised by all three Regulators. Contingency planning for relationship terminations.

Risk 81
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Puerto Rico Health Insurer Reports Record Fine Following PHI Breach Incident

Hunton Privacy

Securities and Exchange Commission that its health insurance subsidiary, Triple-S Salud, Inc. Triple S”), which is Puerto Rico’s largest health insurer, will be fined $6.8 million for a data breach that occurred in September 2013. Triple-S Management Corporation reported in the 8-K it recently filed with the U.S.

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FDIC, FRB and OCC Issue Interagency Guidance on Third-Party Relationships

Hunton Privacy

On June 6, 2023, the Federal Deposit Insurance Corporation (“FDIC”), the Board of Governors of the Federal Reserve System (“FRB”) and the Office of the Comptroller of the Currency (“OCC”) issued their final Interagency Guidance on Third-Party Relationships (“Guidance”).

Risk 64
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The Week in Cyber Security and Data Privacy: 16–22 October 2023

IT Governance

Another small firm suffers a serious ransomware attack: Cadre Services gets mauled by AlphV Date of breach: 19 September 2013 (AlphV uploaded first part of data to its website on 19 October 2023). Breached organisation: Okta, security software company in California, US. Records breached: 91,000 individuals affected.

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Health Insurer Reaches Privacy Settlement with New Jersey Division of Consumer Affairs

Hunton Privacy

The settlement stemmed from the theft of two laptops stolen from Horizon headquarters in November 2013, when personnel from outside vendors performing renovations and moving services at Horizon’s Newark headquarters had unsupervised access to the area where company laptops were stored. Under the terms of the settlement, in addition to the $1.1