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10/08/2019
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A hacked financial technology firm says its insurer should foot the bill after scammers diverted $5.9 million into a Hong Kong bank account. U.S. Energy Secretary Rick Perry backs a plan to help Baltic states wean themselves off Russia. And a (small) update in the case of the alleged Capital One hacker. This is CyberScoop for Tuesday, October 8.

Another cyber insurance dispute goes to court

Insurance giant AIG argued to a New York federal court on Monday that it is not responsible to cover nearly $6 million in losses incurred by a client that was victimized by suspected Chinese hackers. The company asked a court in the Southern District of New York to dismiss a lawsuit filed in August by SS&C Technologies, a $6 billion financial technology company, which alleged that AIG violated its contract by failing to cover losses from fraud. Hackers fleeced SS&C out of $5.9 million in 2016 by emailing company employees from spoofed email addresses, and requesting monetary transfers. Jeff Stone has the numbers.


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U.S. backs Baltic grid support plan

The U.S. has pledged technical support for efforts by Latvia, Lithuania and Estonia to defend their electric sectors from cyberattacks. On a trip to the region, Energy Secretary Rick Perry highlighted the importance of the Baltic States weaning themselves from Russian power infrastructure (the countries have pledged to do so by 2025). The agreement was short on details, but a joint statement said it came at a “critical moment” for Baltic energy cybersecurity. The announcement is recognition of the need to fortify energy infrastructure that could be a prime target for hackers in the event of a geopolitical conflict. Sean Lyngaas reports on Perry's trip.


Baltimore ransomware attack costs CIO his job

Baltimore Chief Information Officer Frank Johnson is out of a job, five months after the city’s municipal government was hit with an extensive ransomware attack and his response to the incident drew much criticism from elected officials. Johnson, who was hired to lead the Baltimore City Information Technology agency in September 2017, had been on unpaid leave since last month, fueling speculation that a permanent separation was brewing. His last official day with the city was Oct. 1. A spokesman for Mayor Bernard C. “Jack” Young said Johnson’s departure was a “personnel matter,” but would not cite a specific reason. StateScoop's Benjamin Freed on what happened.


Accused Capital One hacker remains behind bars, for now

Accused Capital One hacker Paige Thompson will remain incarcerated for the foreseeable future, a federal court in Washington state ruled Friday. Thompson's defense team had argued that the former software engineer, arrested in July for allegedly abusing her access at the bank to collect information on more than 100 million people, should be held in a halfway house until her trial. That's still not out of the question, it seems. The court directed a probation officer "to look into the specific halfway house and report back about bed availability, defendant's safety, and the community's safety. Once the report is reviewed, the clerk will schedule a follow-up hearing. Defendant remanded to custody." We've covered the case in depth.


"That is just absolutely false."

Uber's first chief privacy officer, Ruby Zefo, who's been in the position for roughly a year, said Tuesday she doesn't buy the notion that privacy and security regulations hamper innovation. "Usually that's a statement from someone who just doesn't care about your privacy," she said during a panel held by the National Cyber Security Alliance in New York. Instead, she said, rules like Europe's General Data Protection Regulation offer a "consistent framework" that provides businesses with some certainty about what is and isn't allowed in the areas where they operate, an allusion to the 50 data breach notification laws on the books in the U.S. "Even if the laws are different, you want your data to be safe and secure." More on that here.


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