Corra Daily Planet » 2014 » November

Home Depot Data Breach Results in Dozens of Law Suits

Wed, November 26th, 2014 - 12:32 pm - By Gordon Basichis

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According an an article in the Wall Street Journal, the humongous data breach at Home Depot is resulting in some 44 civil suits.    Protect your data.  Security, including business research and background checks, are vital to maintaining functional processes and protecting against breaches that may result in liability issues.

 

Home Depot reports that it faces at least 44 civil lawsuits in the U.S. and Canada related to a widespread data breach at the home-improvement retailer earlier this year. The company — which is also under investigation by several state and federal agencies — says its investigation of the breach continues, and it is still assessing its financial and other impacts. In a bid to prevent future attacks, Home Depot has completed a project that encrypts customer credit-card data at the point of sale in all of its U.S. stores. It also expects to roll out the encryption system to its Canadian stores by early next year. Additionally, Home Depot says its U.S. stores will soon have EMV chip-and-PIN technology, which helps authenticate transactions with debit and credit cards. The company revealed earlier this month that 53 million customer emails were stolen in a cyberattack that had also compromised an additional 56 million customer credit-card accounts, an intrusion the retailer had previously disclosed in September. The breach resulted in $28 million of pretax expenses in the most recent earnings period.

 

 

Corra Group Extends Business Credit Reports and International Background Checks to Entertainment and Media Industry in Need of Corporate Research

Wed, November 19th, 2014 - 10:34 am - By Gordon Basichis

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Corra Group has recognized that many media and entertainment companies engage in partnerships and co-ventures with domestic and international entities that offer little corporate background information. To enhance corporate transparency, Corra Group is offering business credit reports and an assortment of entertainment and media background checks that will best help its clients assess the solvency and validity of these companies with which they do business.

“There is a growing concern with the lack of transparency among the myriad businesses that offer goods and services to the more established media and entertainment companies,” said Corra Group Co-founder, Gordon Basichis. “It is no secret that media and entertainment is an international industry and that often when you engage in business with certain startups you may have little or no idea with whom you are actually dealing.

Basichis pointed out the number fly-by-night startups, front or shell corporations, laundry operations, and any number of ambitious enterprises that want to get into show business. He noted one of the best ways to get started is to engage with an established media or entertainment entity that can provide easy credibility.

“People sometimes see a new business opportunity and rush into it without taking a clear look. Once committed, they will discover that the company is not what it appeared to be. It could be a sham with poor or illegitimate funding and without the resources had been promised. All of the sudden, you find yourself chasing them, hoping to get your money or your proprietary data. By then, more often than not, it’s too late.

For the complete press release, please  click on this  link

Employment Screening and the Security Industry

Mon, November 10th, 2014 - 10:35 am - By Gordon Basichis

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The Security Industry is a booming business.  Everything from high tech programmers and anti-hackers to the night watchman are part of the security industry.  With the economy on the rebuild and the lessons learned of the Recession a dndPost-Recession years, many companies are taking extra precautions.

According to an article in the Washington Post, the security industry has increased in employment by twenty percent since 2004.  There was the stutter step during the economic downturn, and now things are back to a retire.  Companies are hiring, new security agencies are forming.

The industry at large has learned a few lessons.  Sometimes you really don’t know who you are hiring.  In some cases background checks may be no indicator that you have an Edward Snowden on your hands.  But on the lower echelon of employment in the security industry, the modest entry level pay may draw the undesirables.    Nobody wants the foxes guarding the hen house so it is prudent to conduct background checks on all your new hires and to do periodic updates on your current employees.   Employment screening may go a long was to filtering out the bad apples that can bring damage to your business.  All it takes is one incident of violence or a major theft to put your company at risk.

Remember, in the security business, employers are hiring you for three major purposes–because the times have made them insecure, for just in case, and because they are well aware that there goods and services, their proprietary information provides a target for the thieves and scoundrels.   Best not to lose their trust.  One way to assure that trust is to conduct background checks on all your new hires.    And if your employees drive for you, then driving records are a requisite along with criminal records searches and the  sex offender registry.

The Vital Process of Understanding Data Breaches for Business Research

Mon, November 3rd, 2014 - 1:06 pm - By Gordon Basichis

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Data Breaches can be very costly.  Most companies fail to understand the full effects of data breaches and the damage they can cause. When you are engaging in a co-venture or a merger and acquisition, a major consideration is whether the company with which you are engaging had a serious data breach.  If so, some the proprietary information, the confidential data, trade secrets, if you will may have been compromised.   If the reason to engage another company is to have access to or share data, then knowing if their data was comprised is vital.

As the article in Computer Weekly attests…”Even though 79 percent of top executives believe executive level involvement is necessary to successfully respond to data breaches, more than 70 percent say their organizations do not fully understand the risks associated with breaches, according to a new Ponemon Institute report. The report is based on a poll of nearly 500 senior executives in the U.S. and Britain. Fewer than half of respondents said they were kept informed about breach response and a similar number described their own enterprises’ incident response as either proactive or mature. The study found a lack of leadership and board input are major barriers to effective incident response, which today is more reactive than proactive. It also found that senior executives are more concerned with insider threats than external threat actors. Forty-two percent of respondents said they were most concerned about negligent insiders causing breaches, while 25 percent were concerned about malicious insiders. The report advises executives to identify and secure sensitive and valuable information and consult an independent third party to provide recommendations. Insider threats should be addressed through training and awareness programs that are audited to ensure their effectiveness. The CEO and board also should be met with regularly to keep them apprised of breach issues.”

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