- Timmy Thick blasted for saying the N-word in comeback video Today 9:11 AM
- Netflix’s ‘The Confession Killer’ is a devastating and well-built portrait of a con artist Today 8:00 AM
- Swipe This! I’m ashamed to tell anyone about my online shopping habit Today 6:00 AM
- UPS facing backlash for thanking police after employee killed in shootout Saturday 5:02 PM
- Sanders campaign fires staffer after anti-Semitic, homophobic tweets surface Saturday 3:13 PM
- Brother Nature was attacked, says everyone just watched with phones out Saturday 2:45 PM
- Ryan Reynolds’ gin company hires Peloton wife for ad Saturday 1:24 PM
- Ex-vegan YouTuber accused of fraud after following meat-only diet Saturday 1:11 PM
- The 15 best Disney+ hidden gems and deep cuts Saturday 12:23 PM
- Everyone in GoFundMe scam involving homeless veteran has now pleaded guilty Saturday 12:06 PM
- Boy invites kindergarten class to his adoption–and people are emotional Saturday 11:56 AM
- Reddit links leaked trade deal documents to Russian campaign Saturday 10:44 AM
- How to stream Alistair Overeem vs. Jairzinho Rozenstruik Saturday 8:30 AM
- Amazon sends customers condoms and soap instead of Nintendo Switch Saturday 8:28 AM
- How to live stream Jermall Charlo vs. Dennis Hogan Saturday 8:00 AM
Target’s CEO resigns at the same time new cybersecurity legislation hits
Target will have a new CEO, and businesses will have new cybersecurity standards to follow.
Gregg Steinhafel, president and CEO of Target has resigned, several months after a cybersecurity breach left 110 million Target customers’ personal data, including credit card information, exposed to hackers.
Steinhafel, who was with the company for 35 years, took personal responsibility for the hack, and the company “decided that now is the right time for new leadership,” according to a statement released Monday.
While it’s unlikely anyone will shed a tear for Steinhafel, who will reportedly collect a severance package worth tens of millions of dollars, the situation highlights a larger debate about updating the nation’s cybersecurity laws.
That issue was propelled forward just last week, when a panel appointed by President Barack Obama to study the effects of big data came back with its recommendations. Concerning cybersecurity, the panel suggested standardizing the way companies must report data breaches to customers.
In Target’s case, the company initially reported that 40 million customers were at risk after the breach, and weeks later, revealed the number was actually north of 100 million. Los Angeles-based security firm IntelCrawler has said that a 17-year-old Russian hacker wrote the malware responsible for the incident.
The proposal also suggests updating penalties for cyber-crimes to make them more comparable to those of similarly damaging traditional crimes, as well as ironing out the process for businesses to seek assistance from, and report critical information to, the federal government (specifically the Department of Homeland Security) on matters of cybersecurity.
Though it certainly did not come soon enough to help Target customers and Steinhafel, cybersecurity reform may well be at hand. The White House said members of Congress from both parties submitted some 50 cybersecurity bills during the last session.
With the Target fiasco still in mind, perhaps this White House initiative will be the impetus that pushes legislation across the table.
The White House released document summarizing its suggested updates to national data breach legislation, which you can read here, and the full White House report on big data is copied below.
Photo by Mike Mozart/Flickr (CC BY 2.0)
Fran Berkman is a technology reporter whose work for the Daily Dot focused on cryptocurrencies and internet freedom. In April 2017, he joined BuzzFeed as the deputy director of news curation.