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California Consumer Privacy Act Certification

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Californians can now control movement/use of their personal information with the help of several specific data control rights included in the “California Consumer Privacy Act of 2018 (AB-375)” released on June 28.PCI DSS version 3.2.1 replaces version 3.2 to account for effective dates

The data controls rights include but not limited to:

  • Know what is being collected about them
  • What is being sold and re-disclosed,
  • Prevent the sale of their personal data.

This new law expected to become one of the nation’s strictest data privacy rules.

The requirements of this act will lead to substantial impacts on the data use policies of major technology companies and retailers, and could accelerate federal data privacy legislation.

Without any proof of harm, personnel can take an against data breaches that result in disclosure of personal information, which could lead in rising number data breach actions.

What Does This Law Provision?

Enhanced Privacy Protections around the Globe

The legislation bears some similarities to the European Union’s General Data Protection Regulation (GDPR), particularly the transparency requirements, the right to request deletion, and a strict data breach regime.

  1.   Companies that collect data directly from consumers must disclose the information and the business purpose for which they collect the data.
  2. Consumers can request to delete their personal information through a “verified request” and can opt out entirely from the sale of their personal information.
  3. For companies it is illegal to discriminate against consumers for exercising any of the above rights.
  4. Allows companies to offer financial incentives for collection of personal information.
  5. Prohibits selling the personal data of online consumers under age 16.

QRC is a Payment Card Industry Qualified Security Assessor (PCI QSA) by Payment Card Industry Security Standards Council (PCI SSC)

Cyber Attacks at Cosmos Bank in the India

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Cosmos Bank Pune main branch server has been hacked.  Hackers carried out transactions worth Rs 94.42 crore in Hong Kong and India. The incident occurred on 11th August’18. An amount of around 78 crores is transferred out of the country via various transactions.

Transaction worth Rs. 2.5 crore was done through National Payments Corporation of India (NCPI) and VISA.

This did not stop here, the server was hacked again on 13thAugust’18 and the amount of Rs.14 crore

through Swift Transaction was transferred to the account of ALM trading limited at Hang Seng Bank in Hong Kong.

A complaint has been registered against ALM Trading Limited and unknown persons in Pune.

Earlier this year, in the month of Feb’18, India’s City Union Bank lost $2m via SWIFT Cyber Attack. In past three years, this was the fourth time that SWIFT has been hacked.

Secure Business from the Cyber Attacks

With the growing number of cyberattacks in the financial sector, many small and large enterprises are getting affected.   Multiple cases where public, private enterprises and even individuals who lost critical data due to the ransomware infection have been reported.

Overall, organizations may adapt the five-step approach mentioned below to safeguard themselves from the cyber security attacks,

PREVENT:Conduct regular monitoring, review of

DETECT:

RESPOND:

INVESTIGATE:

ADAPT:

Chief Technology Officer Troy Leach.