Details released about hacking attack on Chase Bank

Hacking attacks, a species of cybercrime, has been on the constant rise in the recent years.  Not too long ago, Microsoft’s online store, the Heartbleed bug, numerous Gmail Accounts(?), Yahoo, etc  became victims of hacking attack.  Even some gaming companies were not spared. More recently this summer the J.P. Morgan Chase & Co., popularly known as “Chase”, got attacked and while investigations are ongoing on the hacking event, it was believed that information from about 76 million households and 7 million small businesses was stolen.  The information stolen could be names, addresses, phone numbers and email addresses.  However, the financial giant claims that sensitive information such as Social Security Number, account number, passwords, date of birth remained uncompromised. At this...

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Why terms and conditions, privacy policy are important for your website or online business in India?

Ever since the Information Technology Act 2000, some stringent stipulations have been imposed on online business entities relating to collecting and handling personal and financial information of customers. A business-specific terms and conditions should be one of the first prerequisite legal requirements and documents that you have in place when you are starting an online business. Consulting a specialist lawyer in Contracts and Cyber Laws and discussing what your business does, the key processes within your business and your typical customers are important things you should do first. Here are some reasons why you should consider? 1. Well written terms and conditions, privacy policy and other web agreements tell your customers how you do business and any do's and dont's...

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Due Diligence – Is your online business or e-commerce website compliant with Information Technology Act?

Controlling Cyber Crimes Prevention of white collar crimes, especially socioeconomic offences and crimes related to computers, has been paid due attention over the years by the Indian Government.  After the recent amendment to the Information Technology Act, 2000, more provisions have been included to prescribe guidelines and punishment related to cyber crimes, from hacking to pornography. Cyber crime has become a profession and the demographic of your typical cyber criminal is changing rapidly, from bedroom-bound geek to the type of organized gangster more traditionally associated with drug-trafficking, extortion and money laundering. It has become possible for people with comparatively low technical skills to steal thousands of pounds a day without leaving their homes. In fact, to make more money than...

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