{"id":11345,"date":"2020-10-05T14:57:31","date_gmt":"2020-10-05T13:57:31","guid":{"rendered":"https:\/\/tenintel.com\/?page_id=11345"},"modified":"2024-03-11T16:00:34","modified_gmt":"2024-03-11T16:00:34","slug":"top-ten-updates-you-may-have-missed","status":"publish","type":"post","link":"https:\/\/tenintel.com\/top-ten-updates-you-may-have-missed\/","title":{"rendered":"Top Ten updates you may have missed: October 2020"},"content":{"rendered":"

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\n TenInsight <\/h2>\n\n\n\n \n\n\n

\n Top Ten Updates you may have missed Legislation changes and guidance from partners in the cyber-security, data protection and fraud investigations industry. Here are our top ten updates:<\/small> <\/h2>\n\n\n\n [vc_empty_space][vc_separator][vc_empty_space]\n\n\n

\n Top Ten Updates | January 2021 <\/h3>\n\n\n\n \n\n
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#1<\/b> EU-UK transition period:<\/b><\/p>\n

The EU-UK trade agreement was reached on 24th December 2020 and data protection provisions have been temporarily extended for a 6 month period. This means organisations need to consider international transfers of personal data and to plan for minimal interruption to their business.<\/p>\n

If you have issues or concerns relating to\u00a0dataflow, data inventory or\u00a0third party data sharing please contact us if you need help sorting out data transfers.<\/p>\n

Last month, the Government announced that the Treaty agreed with the EU will allow personal data to flow freely from the EU (and EEA) to the UK until adequacy decisions have been adopted, for no more than six months.\u00a0 This will enable businesses and public bodies across all sectors to continue to freely receive data from the EU (and EEA), including law enforcement agencies.<\/p>\n

As a sensible precaution, we recommend businesses work with the EU and EEA organisations that transfer personal data to them to put in place alternative transfer mechanisms, safeguarding against any interruption to the free flow of EU to UK personal data.<\/p>\n

#2 Latest fines by the UK\u2019s ICO (Information Commissioner\u2019s Office):<\/b><\/p>\n

The ICO fined Marriott International Inc \u00a318.4million for failing to keep millions of customers\u2019 personal data secure. The Marriott group estimates that 339 million guest records worldwide were affected following a cyber-attack in 2014 on Starwood Hotels and Resorts Worldwide Inc.<\/p>\n

The attack, from an unknown source, remained undetected until September 2018, by which time the Starwood Hotels had been acquired by Marriott.<\/p>\n

On 29 Oct 2020, the ICO has fined Reliance Advisory Limited (\u201cRAL\u201d)\u00a3250,000 for breaking electronic marketing law. The ICO found that over a six month period from the start of 2019, the Bury based company RAL made 15.1million calls in relation to claims management services such as mis-sold PPI.<\/p>\n

All of the calls, of which 1.1 million connected, were made to people who had not consented to receive them.<\/p>\n

The ICO fined British Airways (\u201cBA\u201d) \u00a320m for failing to protect the personal and financial details of more than 400,000 of its customers.\u00a0 An ICO investigation found the airline was processing a significant amount of personal data without adequate security measures in place. This failure broke data protection law and, subsequently, BA was the subject of a cyber-attack during 2018, which it did not detect for more than two months.<\/p>\n

#3 Fraud now accounts for one-in-three crimes in the UK:<\/b><\/p>\n

A report by ex-Metropolitan Police Deputy Commissioner Sir Craig Mackey, found that fraud now accounts for one-in-three crimes in the UK. It is estimated that 86% of fraud is committed online, permitting fraudsters to operate from anywhere in the world.<\/p>\n

London sees the greatest concentration of fraud cases. Throughout 2019, the Metropolitan Police investigated more than 8,000 cases of fraud, compared to the 1,600 by Greater Manchester Police.<\/p>\n

\u00a0<\/b>#4 Banking Fraud reports:<\/b><\/p>\n

TSB Bank have reported that in H1 of this year, \u00a3582.2m has been lost to bank fraud. Of this figure, \u00a3207.8m was a result of \u201cAuthorised Push Payment\u201d\u00a0 fraud, where victims are tricked into making large bank transfers to an account posing as a legitimate payee.\u00a0 TSB Bank believes that reporting only stands at 25% and the problem is likely to significantly larger than previously reported. The pandemic has seen an increase in internet banking, which has created more targets for the fraudsters.<\/p>\n

#5 Deepfake Fraud:<\/b><\/p>\n

Additionally, new fraud trends using artificial intelligence have been observed, namely \u201cdeepfake\u201d fraud. A deepfake is a video or audio clip where someone’s face or voice has been replaced with another person’s likeness using Artificial Intelligence.<\/p>\n

Last year, the CEO of a UK energy firm followed directions given over the phone by the chief executive of the firm\u2019s parent company to transfer \u20ac220,000 to one of their suppliers. However, it was not the parent company\u2019s CEO speaking, instead it was a convincing example of voice cloning. According to the victim, the voice was indiscernible from the real thing, and he only caught on due to certain inconsistencies including the phone number being Austrian when it should have been German.<\/p>\n

Deepfakes can be used for new account opening fraud or account takeover fraud.\u00a0 Security practices to protect from deepfakes:<\/p>\n