‍

In this week's issue: the director of the FBI shares new information on the Sony Pictures hack, data breaches appear to be hitting credit unions harder than big banks, automotive parts seller ID Parts suffers a data breach compromising roughly 12,000 customers and Rippleshot takes a look into President Obama's new initiative on data breach legislation.

ICYMI: FBI Shares New Information on the Sony Hack, but Doubt in N. Korea Theory Lingers

Last week, the director of the FBI, James Comey, presented new information on the Sony Pictures hack. Director Comey spoke at the International Conference on Cyber Security in New York, discussing the claim that actors within the North Korean government were responsible for the hack.

Security experts have yet to come a consensus regarding the responsible party for the Sony hack. As more details become available, be sure to check out our Sony Pictures data breach timeline for an in-depth look at this security incident.

Data Breaches Hit Credit Unions Harder Than Big Banks

When a data breach is discovered compromising large organizations like Target, Home Depot and P.F. Chang’s, credit unions appear to to be affected more severely when compared to some of the larger banks in the United States.

President and CEO of the Credit Union National Association (CUNA), Jim Nussle, spoke at the Western Credit Union CEO meetings to discuss the impact that data breaches have on credit unions. In a NAFCU Credit Union Monitor Survey taken in October of last year, nearly 85% of respondents reported that they were impacted by a local data breach in the past two years.

Malicious Code Found on ID Parts Website, Payment Data of 12K Customers Stolen

Automotive parts seller ID Parts, based out of Massachusetts, is in the process of notifying roughly 12,000 of its customers that a strain of malicious code was implemented in the merchant's systems, compromising their payment information.

In a letter written to the New Hampshire Department of Justice on behalf of ID Parts, it appears that the malicious code was first discovered on October 28, 2014. This led to theft of payment data including credit card numbers, expiration dates and CVV/CVV2 security codes.

Rippleshot Content: President Obama Sets His Sights on National Data Breach Legislation

On Monday, President Obama spoke at the Federal Trade Commission calling for new legislation that will help promote the security of US consumers’ personal data. The key takeaway from President Obama’s speech is that he envisions a new standard where all organizations would have to notify consumers of a breach within 30 days of detection.

In our latest Rippleshot blog post, we look at the outline that President Obama has begun to lay out. With nearly 45% of all organizations falling victim to a data breach in the past year, protecting consumers from identity theft and other cyber-related attacks is paramount.

Thanks for reading this week’s newsletter. If you missed the last Data Breach Ripples email or want to share these with friends or colleagues, click HERE!