A data breach at LifeLabs, potentially affecting up to 15 million Canadians, was revealed Tuesday.
The company, which performs medical lab tests, apologized for the security breach in a statement, adding that it was first discovered several weeks ago.
The CEO of the company, Charles Brown, called the incident a wake-up call for the industry.
“Whether you’re a private company, a government, a hospital, we’re all seeing these attacks rise and there’s more and more of them and we’ve collectively got to do more to make sure all our customers feel secure,” he said in a letter to customers.
Here’s what you need to know.
LifeLabs hack exposes personal data of patients
What information was compromised?
Information that was compromised included health card numbers, names, email addresses, login, passwords and dates of birth. However, LifeLabs said it wasn’t sure how many of the files were accessed during the breach.
It added the hackers did obtain test results from as many as 85,000 Ontario residents, dated 2016 and earlier.
The company said it hired cybersecurity experts to secure the system and determine the scope of the attack, and paid an undisclosed amount of money as ransom to secure the information.
How serious is the hack?
Ann Cavoukian, the former privacy commissioner for Ontario and executive director and founder of Privacy by Design, told Global News Radio that the “most sensitive of information” was compromised in the hack.
“You would think that a company that is entrusted with so much of that information would have the strongest security measures imaginable,” she said. “Clearly, they didn’t.”
Cavoukian said an investigation into the hack, currently being conducted by the Ontario and B.C. privacy commissioners, will evaluate how something like this could have happened — and why the company took weeks to reveal it.
In his letter, Brown said system issues related to the breach have been fixed and Tuesday’s announcement is “in the interest of transparency.”
What can you do?
Cavoukian added that there’s not much those affected by the data breach can really do at this point. For starters, she said those who are unsure whether their data was affected should contact LifeLabs. They can also take steps such as changing their passwords.
While the company is still determining exactly how many people were affected, it said the majority are from Ontario and B.C. It also said it would contact Ontario customers whose test results were accessed.
The company has set up a phone line specifically to handle related inquiries.
LifeLabs also said Tuesday that customers concerned about the safety of their data will be able to receive “one free year of protection that includes dark web monitoring and identity theft insurance.”
How to protect yourself from a data breach
Why was a ransom paid?
Brown said in the release that the decision to pay a ransom was not easy, but he felt the responsibility to do everything possible to retrieve data.
“We wanted to get the data back,” he said. “We thought it was the smart thing to do because it was just in the best interests of our customers.”
Paying ransom is a fairly common business decision that can have some negative consequences, according to David Masson, director of enterprise security for cybersecurity firm Darktrace.
“If you pay, you’re telling the threat actors that you will pay. You’re quite likely to get hacked again or they’ll tell other threat actors that these people pay. So you could put yourself in a whole world of pain,” he said.
It also implies that the company has no other option to get the data back and doesn’t guarantee that all will be returned. Masson also believes the data never left the LifeLabs system but was encrypted.
— With files from The Canadian Press
© 2019 Global News, a division of Corus Entertainment Inc.
World Bank sees ‘significant’ inflation risk from high energy prices
Energy Prices are expected to inch up in 2022 after surging more than 80% in 2021, fueling significant near-term risks to global inflation in many developing countries, the World Bank said in its latest Commodity Markets Outlook on Thursday.
The multilateral development bank said energy prices should start to decline in the second half of 2022 as supply constraints ease, with non-energy prices such as agriculture and metals also expected to ease after strong gains in 2021.
“The surge in energy prices poses significant near-term risks to global inflation and, if sustained, could also weigh on growth in energy-importing countries,” said Ayhan Kose, chief economist and director of the World Bank’s Prospects Group, which produces the Outlook report.
“The sharp rebound in commodity prices is turning out to be more pronounced than previously projected. Recent volatility in prices may complicate policy choices as countries recover from last year’s global recession.”
The International Monetary Fund, in a separate blog https://blogs.imf.org/2021/10/21/surging-energy-prices-may-not-ease-until-next-year, said it expected energy prices to revert to “more normal levels” early next year when heating demand ebbs and supplies adjust. But it warned that uncertainty remained high and small demand shocks could trigger fresh price spikes.
The World Bank noted that some commodity prices rose to or exceeded levels in 2021 not seen since a spike a decade earlier.
Natural gas and coal prices, for instance, reached record highs amid supply constraints and rebounding demand for electricity, although they are expected to decline in 2022 as demand eases and supply improves, the bank said.
It warned that further price spikes could occur in the near-term given current low inventories and persistent supply bottlenecks. Other risk factors included extreme weather events, the uneven COVID-19 recovery and the threat of more outbreaks, along with supply-chain disruptions and environmental policies.
Higher food prices were also driving up food-price inflation and raising questions about food security in several developing countries, it said.
The bank projected crude oil prices would reach $74/bbl in 2022, buoyed by strengthening demand from a projected $70/bbl in 2021, before easing to $65/bbl in 2023.
The use of crude oil as a substitute for natural gas presented a major upside risk to the demand outlook, although higher energy prices may start to weigh on global growth.
The bank forecast a 5% drop in metals prices in 2022 after a 48% increase in 2021. It said agricultural prices were expected to decline modestly next year after jumping 22% this year.
It warned that changing weather patterns due to climate change also posed a growing risk to energy markets, potentially affecting both demand and supply.
It said countries could benefit by accelerating installation of renewable energy sources and by cutting their dependency on fossil fuels.
(Reporting by Andrea Shalal; editing by Diane Craft)
U.S. FAA seeks new minimum rest periods for flight attendants between shifts
The Federal Aviation Administration (FAA) is proposing to require flight attendants receive at least 10 hours of rest time between shifts after Congress had directed the action in 2018, according to a document released on Thursday.
Airlines for America, a trade group representing major carriers including American Airlines, Delta Air Lines, United Airlines and others, had previously estimated the rule would cost its members $786 million over 10 years for the 66% of U.S. flight attendants its members employ, resulting from things like unpaid idle time away from home and schedule disruptions.
Aviation unions told the FAA the majority of U.S. flight attendants typically do receive 10 hours of rest from airlines but urged the rule’s quick adoption for safety and security reasons.
Under existing rules, flight attendants get at least 9 hours of rest time but it can be as little as 8 hours in certain circumstances.
“Flight attendants serve hundreds of millions of passengers on close to 10 million flights annually in the United States,” the FAA said, adding that they “perform safety and security functions while on duty in addition to serving customers.”
It cited reports about the “potential for fatigue to be associated with poor performance of safety and security related tasks,” including in 2017, when a flight attendant reported almost causing the gate agent to deploy an emergency exit slide, which was attributed to fatigue and other issues.
The FAA estimated the regulation could prompt the industry to hire another 1,042 flight attendants and cost $118 million annually. If hiring assumptions were cut in half, it said, that would cut estimated costs by over 30%.
After the FAA published an advance notice of the planned rules in 2019, Delta announce it would mandate the 10-hour rest requirement by February 2020.
FAA Administrator Steve Dickson is testifying at a U.S. House Transportation subcommittee hearing on Thursday.
House Transportation Committee chairman Peter DeFazio said on Wednesday that it was “unacceptable” to delay the FAA adopting the flight attendant rest rule and mandating secondary flight deck barriers to better protect the cockpits on all newly manufactured airliners.
Attorneys at the FAA “need a little poke” to move faster on rules when ordered by Congress, DeFazio said on Thursday at the hearing. “Do not screw around with it for three years… you just do it.”
Sara Nelson, president of the Association of Flight Attendants representing 50,000 workers at 17 airlines, said the rule was critical.
“Flight attendant fatigue is real. COVID has only exacerbated the safety gap with long duty days, short night, and combative conditions on planes,” she said. “Congress mandated 10 hours irreducible rest in October 2018, but the prior administration put the rule on a process to kill it.”
During the pandemic, flight attendants have dealt with records numbers of disruptive, occasionally violent passenger incidents, with the FAA citing 4,837 unruly passenger reports, including 3,511 for refusing to wear a mask since Jan. 1.
The FAA proposes to make the new flight attendant rest rules final 30 days after it publishes its final rules.
(Reporting by David Shepardson; editing by Jason Neely and Bill Berkrot)
Bitcoin price hits all-time high, one day after U.S. ETF debut – Global News
The world’s leading cryptocurrency was up 3.30 per cent, trading at US$66,364.72, after reaching a record of US$67,016.50, topping the US$64,895.22 hit on April 14 this year.
Tuesday was the first day of trading for the ProShares Bitcoin Strategy ETF — a development market participants say is likely to drive investment into the digital asset.
The ETF closed up 2.59 per cent at US$41.94 from its opening price of US$40.88 on Tuesday and continued its ascent on Wednesday, last up 3.76 per cent at US$43.52.
The Valkyrie Bitcoin Strategy ETF, expected to debut on the Nasdaq Wednesday, appeared to be delayed after its prospectus was amended in a filing with the Securities and Exchange Commission. A person familiar with the matter said the Nasdaq expects the ETF to launch on Thursday, but that has not been confirmed yet.
El Salvador becomes 1st country to adapt Bitcoin as legal tender
Trading appeared to be dominated by smaller investors and high-frequency trading firms, analysts said, noting the absence of large block trades indicated that institutions were likely staying on the sidelines.
James Quinn, managing partner at Q9 Capital, a Hong Kong-based cryptocurrency private wealth manager, said the launch of the new product was “meaningful” for bitcoin.
Theoretically, any licensed brokerage firm in the United States which wants to take on this ETF can do so as easily as any other ETF, which “should make it available to a lot of folks,” said Quinn.
While the ETF is based on bitcoin futures, Quinn said the trades and hedges underpinning the ETF means activity will flow into the spot market and the bitcoin price.
Crypto ETFs have launched this year in Canada and Europe amid surging interest in digital assets. VanEck is also among fund managers pursuing U.S.-listed ETF products, although Invesco on Monday dropped its plans for a futures-based ETF.
Ether, the world’s No. 2 cryptocurrency, was up 3.63 per cent on the day at US$4,018.75, after hitting a high of US$4,080, nearing its record high of US$4,380 reached on May 12.
© 2021 Reuters
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