- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2024-02-05T21:50:00
Cleaning products company Clorox disclosed the major cybersecurity incident that led to a shutdown of its automated order processing late last year has cost it about $49 million.
After Clorox discovered unauthorized activity on its computer systems beginning Aug. 11, it took its systems offline, hired a cybersecurity consultant, and shut down automated order processing.
The company continued servicing customers by handling orders manually and conducting processing procedures at a reduced rate. It hired forensic experts and others to investigate and remediate the attack, it said.
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Apparel company VF Corp., the owner of brands including The North Face, Vans, and Timberland, disclosed its estimation approximately 35.5 million customers had their personal data stolen as part of a cybersecurity incident it uncovered in December.
Companies won’t have an easy path toward earning additional time from the Department of Justice regarding the disclosure of a material cybersecurity incident to the Securities and Exchange Commission as required under a new rule.
The timing of a recent cyberattack against Clorox juxtaposed against the Securities and Exchange Commission’s adoption of its cybersecurity incident disclosure rule soon to take effect has presented a case study regarding how companies might seek to meet the requirements of the rule.
American Water Works Company, which supplies drinking water and wastewater to 14 million customers, disclosed a breach of its computer networks and system due to a cybersecurity incident.
The global average cost of a data breach jumped to an all-time high for the second year in a row, but companies can reel in the ballooning drag on profits by adopting artificial intelligence, according to an IBM report.
The U.S. Department of Energy released supply chain cybersecurity principles meant to help strengthen key technologies used to manage and operate electricity, oil, and natural gas systems.
