On August 24, 2015, the Third Circuit United States Court of Appeals issued its ruling in the case FTC v. Wyndham Worldwide Corporation.
The case was highly anticipated by the data security community
generally for its expected ruling on the authority of the Federal Trade
Commission to regulate data security standards, but nowhere was the
anticipation more keen than in the hospitality industry. After all, this
decision didn't deal with retailers, banks or dating sites – it
addressed a major hotel player and, by implication, all operators,
brands and owners in the industry.
We know that cyber crime is big. In 2014, there were 42.8 million
detected security incidents (and, most likely, many more that were never
discovered). Estimates of annual cost of cyber crime to the global
economy ranges from $375 billion to as much as $575 billion as companies
face increased vulnerability, ranging from greater technology available
to cyber criminals and new types of cyber crime, like crypto-ransom. Read More
By: Jim Butler
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