Report: NSA initiating program to detect cyberattacks | Security – CNET News
The National Security Agency is reportedly launching a program to monitor for cyberattacks against government agencies and private companies responsible for key services such as electricity, nuclear power, and transportation, according to a story in Thursday’s Wall Street Journal.
The program, known as “Perfect Citizen,” is already triggering mixed reactions, says the Journal. Some in industry and government see it as an attempt by the NSA to intrude into domestic matters, while others believe it’s a much-needed step in fighting the threat of cyberattacks.
via Report: NSA initiating program to detect cyberattacks | Security – CNET News.
Alberta Becomes First Canadian Province to Enact Data Breach Notification Law : Workplace Privacy, Data Management & Security Report
Effective May 1, 2010, Alberta amended its Personal Information Protection Act (PIPA) to require breach reporting and notification requirements. U.S. businesses with a presence in Alberta should take note of the new law as it is a bit different than most of the state data breach notification laws in the United States.
LifeLock CEO said to be victim of identity theft 13 times – Computerworld
A CEO who publicly posted his Social Security number on billboards and TV commercials as part of a campaign to promote his company’s credit monitoring services was the victim of identity theft at least 13 times, a news report says.
The Phoenix New Times reported that Todd Davis, CEO of LifeLock Inc., which is based in Tempe, Ariz., was victimized numerous times by identity thieves who apparently used his Social Security number to commit various types of fraud.
Davis has previously admitted that he was the victim of an identity theft once in 2007, when a man in Texas used his Social Security number to take out a $500 loan which wasn’t repaid and ended up being handled by a collection agency.
The New Times reported that Davis has been a victim of similar ID theft at least a dozen more times.
Among the examples cited in the report was one involving an ID thief in Albany, Georgia who opened an AT&T wireless account in Davis’ name and used it to rack up more than $2,300 in charges.
In another instance, an individual used Davis’ identity to open an account with Centerpoint Energy, a Texas utility, and leave behind $122 in unpaid bills, the report said.
It also cited examples where individuals with Davis’ identity owed more than $573 to a bank and $312 to a gif-basket company.
The numerous incidents belie LifeLock’s claims that the services it offers protects consumers against ID theft and fraud, the report noted.
Davis said by e-mail that there had been “hundreds” of attempts to use his personal information in a fraudulent manner since 2005. All but 13 of those attempts were successful, Davis said.
via LifeLock CEO said to be victim of identity theft 13 times – Computerworld.
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Global Disclosures: Litigation Risk | Westlaw Business Currents
For most U.S. trained attorneys, it probably doesn’t come as a surprise that even the mere possibility of litigation should be disclosed somewhere in a company’s annual report. But for attorneys preparing an annual report for a foreign filer from a less litigious country – basically every other country – take note this 20F/40F season: Companies are erring on the side of conservatism when it comes to litigation risk. Companies from camera manufacturer Canon to mobile phone manufacturer Ericsson to Norwegian oil company Statoil are disclosing risks ranging from IP litigation to uncertainty in certain target markets, to dealing with wrongful termination allegations. While litigation disclosures are certainly not one-size fits all, below are a few of the themes rising up through this 20F/40F filing season.
General litigation risk disclosures come in every shape and size, but a pretty standard example comes from Italian oil and natural gas company Eni SpA. In their recent 20F, however, they stated that lawsuits are an ordinary occurrence in their line of business. A similar disclosure appears in the recent annual report from Newfoundland-based Canadian mineral royalty company Terra Nova Royalty Corp.
And although materiality should play a factor in determining whether to disclose, every lawsuit should be reviewed to determine the potential impact. A prime example is British Columbia, Canada-based Chai Na Ta’s recent admission that the company became involved in a lawsuit related to an automobile accident. Although the company believes that insurance will fully indemnify the company, the disclosure serves as an example that no rock should remain unturned in the quest for transparency. Likewise, Norwegian Statoil discusses in detail two lawsuits, one of which explicitly states the financial impact is immaterial.
via Global Disclosures: Litigation Risk.
Report: ‘Overzealous and Questionable’ Use of Technology in Laptop Spying Case — THE Journal
A Pennsylvania school district under legal fire for using school laptops that captured images of students in their homes without disclosing the activity has issued a lengthy report that summarizes the findings of an investigation into the matter. The independent investigation performed for the Lower Merion School District in Ardmore concluded that while nobody in the district behaved in an intentional or manipulative manner, the school laptops performed inappropriate tracking activities that should have been turned off much sooner than they were.
As laid out in wide media coverage, including on THEJournal.com, the district faces a lawsuit by the family of a high school student, alleging that it had been “spying” on the students through Web cameras installed on personal computers issued by the district as part of a high school 1:1 program.
The investigation was handled by Ballard Spahr, a national legal firm retained by the district. Ballard Spahr, in turn, contracted with L-3 Services, a Horsham, PA computer forensic consulting firm. The resulting publicly issued report from the 10-week investigation consists of three documents: a 98-page report that summarizes 500,000 pages of documents and 42 interviews; a 48-page forensics analysis by L-3; and a 925-page appendix that includes copies of related board meetings minutes, correspondence, e-mail, help desk support tickets, litigation documents, news coverage, press releases, and congressional testimony.
via Report: ‘Overzealous and Questionable’ Use of Technology in Laptop Spying Case — THE Journal.
Global Disclosures: Litigation Risk
As this year’s foreign private issuer annual reports are now coming in to the SEC, we at Westlaw Business see it as our job to keep you informed of issues and events, based on SEC correspondence, and other related documents, that may impact your filings. To help you prepare your disclosures, we’ve begun this series covering the 20-F/40-F considerations that are most important to global businesses this year.
For most U.S. trained attorneys, it probably doesn’t come as a surprise that even the mere possibility of litigation should be disclosed somewhere in a company’s annual report. But for attorneys preparing an annual report for a foreign filer from a less litigious country – basically every other country – take note this 20F/40F season: Companies are erring on the side of conservatism when it comes to litigation risk. Companies from camera manufacturer Canon to mobile phone manufacturer Ericsson to Norwegian oil company Statoil are disclosing risks ranging from IP litigation to uncertainty in certain target markets, to dealing with wrongful termination allegations. While litigation disclosures are certainly not one-size fits all, below are a few of the themes rising up through this 20F/40F filing season.
General litigation risk disclosures come in every shape and size, but a pretty standard example comes from Italian oil and natural gas company Eni SpA. In their recent 20F, however, they stated that lawsuits are an ordinary occurrence in their line of business. A similar disclosure appears in the recent annual report from Newfoundland-based Canadian mineral royalty company Terra Nova Royalty Corp.
And although materiality should play a factor in determining whether to disclose, every lawsuit should be reviewed to determine the potential impact. A prime example is British Columbia, Canada-based Chai Na Ta’s recent admission that the company became involved in a lawsuit related to an automobile accident. Although the company believes that insurance will fully indemnify the company, the disclosure serves as an example that no rock should remain unturned in the quest for transparency. Likewise, Norwegian Statoil discusses in detail two lawsuits, one of which explicitly states the financial impact is immaterial.
via Global Disclosures: Litigation Risk.
‘Aerospace, defence face hurdles in globalising’
With global aerospace and defence (A&D) majors positioning themselves to fulfil expected defence offsets obligations through partnerships with Indian A&D companies, consultancy firm PricewaterhouseCoopers (PwC) has released a report that examines the opportunities and pitfalls in this globalising sector.
The defence offset obligation that global A&D corporations must meet in India require foreign vendors who sign contracts worth more than Rs 300 crore for supplying defence equipment to India to source from Indian companies at least 30 per cent of the value of the contract. India’s current levels of defence spending could generate offsets worth Rs 15,000 crore annually.
The PwC report starts by establishing that the A&D sector is highly global in terms of sales, but only partially globalised from the viewpoint of supplies. For example, Canadian aerospace major Bombardier has customers in over 100 countries; but components and materials are sourced from just 40 countries.
The PwC report stipulates that an industry can be considered to be rapidly globalising when it meets three conditions. Firstly, when a high percentage of the total industry trade consists of import/export. A second qualifier would be established international supply chains based upon offshore production; and, thirdly, when crucial technology/R&D units are spread across the globe.
China Moves to Tighten Data Controls – NYTimes.com
China is on the verge of requiring telecommunications companies and Internet service providers to halt and report leaks of what the government deems to be state secrets, the latest in a series of moves intended to strengthen the government’s control over private communications.
The proposed amendment to the state secrets law, reported Tuesday by the state news media, defines a state secret broadly and loosely as information that, if disclosed, would damage China’s security or interests in political, economic, defense and other realms.
The amendment was submitted Monday to the Standing Committee of the National People’s Congress, China’s legislature, for a third reading, the final step before being signed into law. Few measures reach that point in China without being adopted.
The wording of the amendment, as cited by the state-controlled newspaper China Daily, suggested that Internet and telecommunications companies would have to take a more proactive stance in identifying leaks of state secrets and their sources. The paper said companies must detect, report and delete unauthorized disclosures.
But reports by the state-run news agency Xinhua seemed less definitive about whether the companies must independently scour online transmissions for forbidden information or simply cooperate with the authorities if they suspect transgressions.
via China Moves to Tighten Data Controls – NYTimes.com.
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Inspector General Report: Investigation of the SEC’s Response to Concerns Regarding Robert Allen Stanford’s Alleged Ponzi Scheme
REPORT OF INVESTIGATION
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
OFFICE OF INSPECTOR GENERAL
Case No. OIG-526
Investigation of the SEC’s Response to Concerns
Regarding Robert Allen Stanford’s Alleged Ponzi Scheme
March 31, 2010
New York State Unified Court System Report Makes Recommendations for Improved Handling of E-Discovery : Electronic Discovery Law
In New York, Chief Judge Jonathan Lippman and Chief Administrative Judge Ann Pfau released a report recommending improvements for how electronic discovery is handled in New York State Courts. The report, based on “extensive research and interviews with experts in electronic discovery”, addresses the problems of electronic discovery, including cost and delay, and provides several recommendations on how “the courts can manage e-discovery in a more expert, efficient and cost-effective manner within the framework of existing law.”
Full Report: http://www.nycourts.gov/courts/comdiv/PDFs/E-DiscoveryReport.pdf
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