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More Firms Disclose Online Hacking Incidents

CYBERSECURITY—U.S.

February 21, 2013

It is becoming more common for American corporations to publicly disclose that they have been victims of hackers, The New York Times reports. Most firms have traditionally treated “online attacks as a dirty secret best kept from customers, shareholders and competitors, lest the disclosure sink their stock price and tarnish them as hapless,” the report states. In recent weeks, more companies—including Twitter, Facebook and Apple—have announced they have been attacked by sophisticated cybercriminals and “some can’t help noticing that those that make the disclosures are lauded…for their bravery,” according to the report. One expert said, “This is a particularly good time to get out the fact that you got hacked, because if you are one of many, it discounts the starkness of the announcement.” Meanwhile, Hogan Lovells Partner Harriet Pearson, CIPP/US, discusses pressing cybersecurity issues in a new podcast. Editor’s Note: The preconference workshop Surviving a Data Breach in the Digital Age will be part of this year’s IAPP Global Privacy Summit in Washington, DC. (Registration may be required to access this story.)
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