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ITMG Insider Threat News – December 17, 2021

Ontario Bans Employee Non-Competition Agreements: What does this Mean for Trade Secret Protection?

On December 2, 2021, Ontario’s Bill 27, Working for Workers Act, 2021 [PDF], received Royal Assent, making Ontario the first jurisdiction in Canada to ban non-competition agreements, in the context of employment, via legislation. Among its many features, Bill 27 has created a new statutory prohibition of non-competition agreements between employers and employees under the Employment Standards Act, 2000 (Ontario). According to an October 25, 2021, Ontario government press release, this new statutory prohibition is intended to “help workers in Ontario advance their careers and earn more money” and “give the province a competitive advantage in attracting global talent”, while also ensuring that “[e]mployers [will] still be able to protect their intellectual property through narrower clauses.”

Crime-As-A-Service is Leveling Up – And Businesses Aren’t Prepared

In the legitimate business world, it’s impossible to find an organization that operates as an island. Most will outsource tasks, use the expertise of third parties or buy software-as-a-service (SaaS). Cybercrime is exactly the same. Hackers can pick and choose from various vendors worldwide to create their perfect hack.

Volvo Says Data was Stolen in Cyberattack

Research and development data was stolen from Volvo after a cybersecurity breach, the company said in a statement Friday. There is no reason to think this doesn’t have the makings of a corporate espionage thriller. There is, sadly, also no reason to think it does, either.

Addressing Insider Threats in Elections

Lawmakers and election officials must act now to prevent such attempts to sabotage election administration in 2022 and 2024. While insider threat risks have not received much attention in recent years, they have been a central focus of security efforts in other sectors, and best practices, such as these from the Cybersecurity and Infrastructure Security Agency, exist to prevent and respond to this activity.

Why is Prevention Better than Recovery in Cybersecurity?

Insiders are employees, vendors, contractors and suppliers who have access to the company’s internal systems. Insider threats relate to any possible harm created by insiders. These users have access to sensitive data and private information since they are insiders. This data might include crucial intellectual property, commercial secrets, customer and employee information and more. Threats from malevolent insiders exist in every company. According to a survey issued by Ernst & Young and IBM, the financial services industry has a 74 per cent perceived risk of a cyber breach and malevolent insiders.

Google Files Lawsuit Against Blockchain Botnet Operators

Google has filed what it claims to be the first ever lawsuit against a blockchain-based botnet, in a bid to ramp-up the pressure on its likely Russian administrators.

Glupteba is comprised of around one million compromised Windows PCs around the world, with thousands of new machines sometimes added in a day, the tech giant said in a blog post. It’s used to steal victims’ credentials and data, mine for cryptocurrency and use proxies to hide the location of attacks.

This entry was posted on Friday, December 17th, 2021 at 10:07 am. Both comments and pings are currently closed.