US Securities and Exchange Commission suffers data breach through a hack attack

September 22, 2017

It doesn’t get much more embarrassing than this.  The US Securities and Exchange Commission (“the SEC”), that branch of the US Government charged with regulating the financial sector and taking action against those who breach the rules has been hacked.  Not last week, or last month, but last year.  This is the body that puts the cuffs on insiders and puts them through a perp walk to court.  Here the breach likely resulted in “illicit gain through trading.”  Insider trading of a different specie.

The source of the breach was Read the rest of this entry »

Federal Court issues practice notes on interest on judgments

September 20, 2017

Properly determining the interest component in an award is an important calculation.  And one that is done poorly more often than Read the rest of this entry »

The US National Institute of Standards and Technology publishes reports titled Enhancing Resilience of the Internet and Communications Ecosystem & Cybersecurity Framework Manufacturing Profile and draft publication titled Trustworthy Email

The National Institute of Standards and Technology (“NIST”) produces very useful, if somewhat technical, reports, on cyber security.  They are invaluable resources for those interested in the technical side of data security and privacy.  NIST yesterday published two very useful reports:

  1. NISTIR 8192, Enhancing Resilience of the Internet and Communications Ecosystem, and
  2. NISTIR 8183, Cybersecurity Framework Manufacturing Profile

The NIST has also published for comment a publication on Trustworthy Email.  Very topical and highly useful.  At 120 pages it is not a breezy read.

Re Convector Grain Pty Ltd (In Liquidation) [2017] VSC 473 (16 August 2017): Corporations Act sections 588F and 1322, power to amend, liquidator’s action, rule 3.02

September 19, 2017

Associate Justice Randall in Re Convector Grain Pty Ltd (In Liquidation) [2017] VSC 473 rejected an application for an extension of time on the service of originating process. In doing so his Honour undertook a very comprehensive review of the interaction of the Civil Procedure Rules with the Corporations Rules and section 1322 of the Corporations Act.

FACTS

The second and third plaintiffs, liquidators of the first plaintiff (‘Convector Grain’), sought relief under s 588FF(1) of the Corporations Act 2001 (Cth) (‘the Act’) that a preference in the sum of $337,928.27 be repaid to Convector Grain [1].

The liquidators were appointed as voluntary administrators in place of those originally appointed on 5 September 2013. By resolution made on 10 February 2014 they became liquidators of Convector Grain [14].

This proceeding is Read the rest of this entry »

UK Data Protection Bill introduced in the UK Parliament

September 17, 2017

The Data Protection Bill was  last week introduced into the United Kingdom parliament.    Notwithstanding Brexit the primary purpose of the bill is to Read the rest of this entry »

Re Carter Holt Harvey Woodproducts (Australia) Pty Ltd (No 1) [2017] VSC 499 (6 September 2017):EQUITABLE CHARGE, whether debt was secured by a charge, agreement to charge, terms of guarantee and indemnity,equitable charge,meaning of ‘will charge’, priorities

The Supreme Court in Re Carter Holt Harvey Woodproducts (Australia) Pty Ltd (No 1) [2017] VSC 499 )  reviewed and considered the operation of a charge, by virtue of a guarantee and indemnity, vis a vis other claims on assets.  In this case the claim of a chargee defeated a claim by a liquidator who mounted a vigorous attack on the validity of the charge.

FACTS

Amerind Pty Ltd (receivers and managers appointed) (in liquidation) (Amerind) acted as trustee of the Panel Veneer Processes Trading Trust, which manufactured and distributed decorative and architectural finishes [1]. On 11 March 2014, the sole director of Amerind, Mr Naja David (“David”) resolved to appoint administrators to Amerind.  As Amerind’s  facilities and accounts were secured with the Bendigo and Adelaide Bank Limited on 11 March 2014 it appointed receivers and managers. Amerind was hopelessly insolvent [2]. Read the rest of this entry »

Canadian Health employee sacked for looking into health records of patients, including family member

September 12, 2017

The Office of the Saskatchewan Information and Privacy Commissioner has prepared a report into the activities of an employee of Prince Albert Parkland Regional Health Authority who accessed the medical records of 14 people including several members of her own family.  While there was a data breach it is relevant to note that Read the rest of this entry »

Facial recognition technology and privacy issues

Alibaba, one of the world’s largest on line service providers, has installed facial recognition as a means of making payments on machines owned by one of its affiliates Ant Financial.  Smile to pay is the catchy description. Not to be outdone Apple is expected to use facial recognition to unlock the homescreen on its new phones.

Facial recognition technology has gone from clunky and a hit and miss affair to  something approaching effective operability.  That said there are significant in built problems, such as a bias against people who are not white.  Most of the database and the AI learning is comprised of white faces.

The dystopian elements to facial recognition systems, beyond the long predicted threat of living in a virtual and real panopticon, is the Read the rest of this entry »

Stellar Projects (Vic) Pty Ltd v Cambridge Plumbing Pty Ltd [2017] VSC 532 (8 September 2017: section 459G of the Corporations Act, some other reason to set aside statutory demand.

September 11, 2017

The Supreme Court, per Randall AsJ  set aside a statutory demand in Stellar Projects (Vic) Pty Ltd v Cambridge Plumbing Pty Ltd [2017] VSC 532.  This was a case where the court had to consider conflicting authorities regarding a prematurely sworn affidavit. It ended up being a very bad at the office for the defendant whose statutory demand was set aside.

FACTS

The statutory demand dated 14 July 2017 claimed the sum of Read the rest of this entry »

A massive data breach suffered by US Credit reporting firm Equifax, affecting 143 million customers data, highlights the need for proper data security and privacy protections

September 8, 2017

Sometimes  the scale of data breaches reach such a point that it numbs the reader. Yahoo’s breach affected one billion accounts in 2013 and 145 million eBay accounts were affected in 2014. That the figures defy easy comprehension doesn’t Read the rest of this entry »