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Legal Tech News and Events: September 12, 2022

LAUSD hit by ransomware, IBM reports on data breach costs, and upcoming Defense Tech Week.

September 12, 2022

Cybersecurity: Second Largest School System Ransomware Attack

Over the Labor Day weekend, the Los Angeles Unified School District (LAUSD), the US'second-largest school system, was targeted by a ransomware attack. This has prompted the shutdown of their computer systems.

A released statement from LAUSD said Federal and state authorities come to their aid and that a new task force was created to "take a deep dive into the recommendations and implementation progress of this security audit". According to the district's superintendent, despite the attackers encrypting the schools' data, there was no immediate demand for money, and the schools were opened on Tuesday.

Report: IBM’s Cost of Data Breach 2022

This year IBM’s extensive report on the cost of data breach was released. Participated by 550 organizations in 17 different industries that experienced data breaches between March 2021 and March 2022. Improving their study, the new edition includes additional information such as the Extended detection and response, the use of risk quantification techniques, and the impacts of individual technologies that contribute to a zero-trust security framework.

Rounding up the highlights below:

  • USD 4.35 million is the global average cost of data breach.

  • USD 9.44 million average cost of data breach in the US.

  • 59% of the organizations do not have a zero trust architecture.

  • 19% had a breach caused by a business partner being exposed to security threats.

  • USD 4.46 million is the average total cost of breaches caused by supply chain attacks.

  • 45% of the breaches that occurred were cloud-based.

  • 83% of the organizations had more than one breach incident.

  • 277 days is the average time for a data breach to be identified and resolved.

Event: Defense Tech Week

This week Defense Tech Week will be held from September 12- 16, 2022. The weeklong event will feature speakers from leaders of federal agencies and the tech community.

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