Internet Risks and Rewards: A Look at Data Breach Compensation
8 February 2024Amanda J. Brook Senior Product Manager
Summary In the Internet age, easy access to information comes with the risk of personal data breaches. Such exposure can lead to targeted marketing, fraud, and privacy invasions. Understanding compensation for data breach damages is crucial.
Relevant Laws Regarding Information Leakage Damage
According to Article 286-1 of the “Criminal Law”, a network service provider who fails to fulfill information network security management obligations as required by laws and administrative regulations, and refuses to make corrections after being ordered by the supervisory department, may face imprisonment of up to three years, criminal detention, public surveillance, or fines :
(1) Causing a large amount of illegal information to spread;
(2) Causing user information to be leaked, resulting in serious consequences;
(3) Causing the loss of evidence in criminal cases, where the circumstances are serious;
(4) There are other serious circumstances.
Information leakage case
Facebook faces $1.6 billion fine for leaking personal photos of 7 million users
In December 2018, Facebook exposed personal photos of nearly 7 million users in a security breach. An investigation is underway to determine GDPR compliance. Some of the exposed photos were never shared on the social network.
Employees of a cooperative company leaked 7 million pieces of anti-counterfeiting data, and a well-known wine company lost more than one million
In February 2018, police cracked down on a counterfeit case involving a well-known wine. Employees of a cooperative company stole anti-counterfeiting and traceability data from the wine company by taking pictures and copying them with a USB flash drive. The leaked data resulted in an estimated economic loss of about 1.057 million yuan for the wine company.
III Safety insurance for information leakage
Network security risk is a significant concern that cannot be overlooked. Cyber attacks and data leaks occur frequently, resulting in substantial economic losses and reputational risks for affected companies. To maintain the stability of their network systems, enterprises are increasingly focusing on network security. Data indicates that global companies spent an average of US$700,000 daily on network security defense from 2014 to 2017.
With the increasing risk of cyber security incidents, insurance companies are entering this market. Since 2015, major insurers have introduced cyber security insurance products. Typically, these products cover data breaches, hacking, computer viruses, malicious or accidental data damage by employees, data theft, network security failures, computer system mishaps, third-party claims, business disruptions, and cyber extortion ransom, mitigating financial losses from information breaches.
How to protect the security of confidential information?
Encrypt Confidential Files with Renee SecureSilo
Renee SecureSilo It is a software that focuses on computer file and folder encryption. It has multiple encryption functions such as encrypting files, protecting USB, and hiding files.
Easy to modify – the software’s virtual disk functions like a U disk, allowing for effortless opening and closing without leaving any traces of use. Additionally, file modifications, additions, or deletions can be promptly saved without the need for extended waiting periods.
Large capacity – SecureSilo utilizes virtual confidential disk technology, enabling storage of numerous confidential files in one or more virtual disks. Files larger than 4G can be stored as long as the virtual disk is formatted as NTFS.
Difficult to crack – Due to the proprietary format of the virtual disk and the use of advanced AES256 encryption technology, there is currently no program to crack this technology on the market.
High Concealment – Disguise virtual disk files as other files to avoid scanning. Eye-catching floating frame allows closing all virtual disks and exiting program anytime for privacy.
Renee SecureSilo – Encrypt Confidential Data
Encrypt files in seconds Encrypt files with virtual encrypted disk and whole process can be finished in 1 second.
User friendly Concise interface helps users master the software in short time.
1. Download and install Renee Secure Silo. Set a password and enter an email address. Enter the password every time you open the software to protect your privacy.
2. Click Create Private Disk in the encrypted file to create a new encrypted folder.
3. Set a name for the private disk, specify the creation location, and click Next.
4. Set a new password and confirm the password for the private disk, and then click Next.
5. Select “Select Size”, set the capacity of the private disk, and click “Next”.
6. Wait for the private disk creation, then click Finish. The private disk is successfully created. Add the folder you want to encrypt to the private disk to encrypt and lock it.
When the user wants to open the file on the private disk for decryption, what should he do?
First, select the encrypted folder and click “Open” in the tab. Enter the password in the pop-up dialog box, and click Open to unlock.
Prevent information leakage with Renee USB Block
Renee USB Block is a user-friendly USB port protection software that allows you to lock specific programs or restrict access to certain websites using passwords. It effectively prevents unauthorized external devices from connecting to your computer and safeguards your personal information from being compromised.
Renee USB Block – Safe and Effective Solution to Protecting USB Port
Easily use Simple operations fit green hands and professionals.
Prevent from privacy leak Unauthorized external devices cannot run or obtain any information in PC.
Control and lock Users can lock devices, websites, applications and USB ports.
Monitor and logs Users can select the target directory to monitor and generate the history.
Self protection Lock itself if users enter the wrong passwords 5 times. Notification will be sent once wrong password entered over 5 times and password change. Password is also necessary when uninstalling.
Easily use Simple operations fit green hands and professionals.
Prevent from privacy leak Unauthorized external devices cannot run or obtain any information in PC.
Monitor and logs Monitor target directory and generate the history.
1. Download and install Renee USB Block. After installation, you need to set a password and enter your email address, and then you need to enter the password every time you reopen the application.
2. Insert the USB disk into the computer, under the column of USB & CD lock, click Add to add the USB disk you think is trustworthy to the white list.
3. Check “Prohibit USB disk/write” or others. In this way, if other USB devices are not in the white list of USB Block, they will be blocked and cannot be read/written.
In addition, Renee USB Block can also lock websites, programs and devices, prohibit printing materials through printers, and set prohibition of accessing the network, etc.
summary
To protect our interests when information is leaked, it is crucial to comprehend the damages and mitigate the risk. Additionally, enhancing encryption of vital information is essential. We suggest utilizing Renee SecureSilo and Renee USB Block for comprehensive information security.
