TOP NEWS | AT&T Confirms Massive Data Breach; FTC Settles with NGL Over Teen-Targeted Anonymous Messaging App and more.

California Privacy Agency Delays Rulemaking on Automated Decision-Making

The California Privacy Protection Agency delays formal rulemaking on new regulations, including those for automated decision-making technology, until at least September due to ongoing concerns from the board and stakeholders. Proposed rules aim to set standards impacting technology like AI and machine learning, with defining ADMT and assessing its impact remaining contentious. Finalizing rules may extend into 2025, pending board approval and regulatory assessments, potentially aligning with global standards like the EU AI Act. Compliance costs are estimated at USD1.4 billion for California businesses, pending further public feedback and economic analysis. Read more

FTC Settles with NGL Over Teen-Targeted Anonymous Messaging App

The FTC and Los Angeles County District Attorney settled with NGL, creators of an anonymous messaging app accused of deceiving teens. The remedy—banning minors from the app—marks a first and underscores concerns about privacy risks in such platforms. Despite anonymity's appeal, deceptive practices included fake messages and false promises of sender identity reveal for paid upgrades. Lessons highlight transparency in content, legal obligations against deception, and protection under COPPA. Commissioner Ferguson emphasizes balancing free speech with anonymity risks, signaling ongoing regulatory scrutiny for apps targeting teens. Read more

US Data Breach Victims Surge in Q2 2024 Despite Decrease in Incidents

According to the Identity Theft Resource Center (ITRC), the number of US data breach victims in Q2 2024 spiked over 1000% from the previous year, despite a 12% decrease in the number of incidents reported. This surge was attributed to several large breaches affecting organizations like Prudential Financial and Infosys McCamish System, significantly revising victim counts upwards. Overall, H1 2024 saw a 490% increase in victims compared to the same period in 2023, totaling over 1 billion individuals affected. The financial services industry was hardest hit, with breaches increasing by 67%, while healthcare breaches declined by 37%. Read more

AT&T Confirms Massive Data Breach, Impacting 110 million Customers

AT&T has acknowledged a significant data breach where data from "nearly all" of its customer accounts was illegally downloaded. The breach, one of the largest in recent history, compromised records of calls and texts for 110 million wireless subscribers and landline customers from May to October 2022. AT&T discovered the breach in April 2023 but has only begun notifying affected customers now. The FBI is investigating the incident, with at least one arrest made. The compromised data did not include call or text content or personal information like social security numbers but could identify geographic locations of individuals. Read more

Quantum Computing Market Sees Rapid Growth, Valued at USD 837 Million in 2023

The quantum computing market, valued at USD 641 million in 2022, saw a significant rise to USD 837 million in 2023. Projected to reach USD 7135 million by 2031, the market is driven by expanding applications like optimization, machine intelligence, and encryption across sectors such as finance and healthcare. North America leads in market share and innovation, supported by robust research collaborations. Companies like Google, IBM, and Microsoft are pivotal in advancing quantum research and development, positioning the sector for substantial growth in the coming years. Read more