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ARTICLE · 12 JULY 2017

Dangerous Assumptions And Serious Consequences In Cybersecurity

Bennett Jones LLP
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It's not the kind of news a retail giant wants to make. In May 2017, Target agreed to a $18.5-million settlement to resolve a 47-state investigation into a massive 2013 hack.

CanadaTechnology
Ruth Promislow
Ruth Promislow
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It's not the kind of news a retail giant wants to make. In May 2017, Target agreed to a $18.5-million settlement to resolve a 47-state investigation into a massive 2013 hack. This settlement put Target's total cost of the breach at $202 million. More than 40 million customers had their credit or debit card information compromised after hackers accessed Target's server. Access was gained through credentials stolen from a third-party vendor.

Companies can be more vulnerable than they think when it comes to cybersecurity—and dangerous assumptions can lead to serious consequences. Bennett Jones' Cybersecurity group hosted panel discussions where firm members joined insurance and security experts to discuss emerging patterns and threats in cybersecurity. Panels were held in Toronto and Calgary. Key takeaways were:

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