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Aston Business School announces strategic partnership with ISACA

It will help ABS graduates optimise their career potential with industry leading credentials in cyber security and risk management Aston University’s Cyber Security Innovation Centre has gained ISACA Accredited Training Organisation (ATO) status The partnership forms an Academic Centre of Excellence (ACoE) at Aston Business School. The Cyber Security Innovation (CSI) Centre at Aston University has announced a strategic partnership and the formation of an Academic Centre of Excellence with the Information Systems Audit and Control Association (ISACA). It will provide an added value for ABS graduates through taking ISACA certifications to optimise their career potential. Dr Anitha Chinnaswamy, a senior lecturer in cyber security management at the CSI Centre at Aston Business School, said: “There is an acute shortage of skills in the cyber security sector and we are delighted to be leading the field of executive education of future professionals under the recognition of a Centre of Excellence.” The CSI Centre and ISACA UK Central Chapter have been working together for the past four years, with both parties being ISACA ATOs (Accredited Training Organisations) in their own right, delivering high quality virtual and face-to-face instructor-led training which is helping delegates to achieve exam success and benefit from network membership of over 170,000 cyber professionals world wide. ISACA UK Central celebrated its 30 year anniversary in 2023. Their instructors are working consultants, with a wealth of experience as chief information security officers (CISOs), risk managers and IT audit directors, bringing the topic to life using real examples and practical knowledge. Professor Zoe Radnor, Pro-Vice-Chancellor and Executive Dean of the College of Business and Social Sciences at Aston University, said: “Taking our executive education in the cyber security direction is a strategic priority as Aston University has positioned itself as leader in digital technologies. The CSI Centre of Excellence underscores this priority.” Professor Helen Higson, deputy dean of Aston Business School, said: “The CSI Centre academics are always forward looking at the new demands in education and have created a dynamic set of postgraduate offering highly relevant in the market.” Professor Aleks Subic, Chief Executive and Vice-Chancellor of Aston University, said: “In line with our 2030 strategy focused on establishing Aston University as a leader in digital innovation, the Centre of Excellence represents an important step towards making Aston University a sector leader in cyber security.”

Politics, policy and public safety: Experts explain why a popular Atlanta festival was canceled

A sad tune is being hummed in Atlanta, where it was announced the popular annual Music Midtown festival is not happening, possibly in part due to the state’s laws surrounding guns in public parks. The event's cancellation, which brought tens of thousands of music lovers to the city -- along with the tourism dollars they spend -- has caused disappointment and drawn local and national media coverage. Calling it a “sad day” for the city, Atlanta City Council President Doug Shipman wrote on Twitter that: “Public policy has real impacts and, in this case, economic and social implications on a great tradition.” And state Democrats chastised Republicans for adopting a raft of pro-gun legislation, including a 2022 law that allows Georgians to carry concealed handguns without first getting a license from the state. The governor, who is seeking a second term, did not immediately comment on the festival’s decision. But state Rep. Rick Jasperse, a Jasper Republican who sponsored the 2014 law, said the measure is designed with public safety in mind. He said those intent on “causing chaos and crime in Georgia” won’t care if the festival bans firearms and would try to bring them in regardless. “Good Georgians who can qualify for a permit and carry a weapon do so to protect themselves from that element in our society,” he said.  -- The Atlanta Journal Constitution, Aug. 1, 2022 Organizers of events like Music Midtown could look at Georgia’s gun laws and regulation of firearms as a potential legal liability. If there is a firearms incident, organizers may fear being held legally accountable and sued for any potential damages. The companies and their risk management advisors might think twice about holding large events in Georgia. Augusta University's Dr. William Hatcher, an expert when it comes to public administration and social, economic and political institutions in local communities, agrees that event organizers might be rethinking their plans in the state. "Yes. I think so. These types of laws have an impact on the economy and the business decisions of firms. We may see future effects on the economic behavior of individuals and firms." This topic could have further economic impact beyond canceled events, including affecting property values and home prices. If you're a journalist looking to know more, then let us help with your stories. Dr. William Hatcher is a professor of political science and chair of Augusta University’s Department of Social Sciences. He is an expert in the areas of public administration and social, economic and political institutions. Hatcher is available to speak with media regarding this topic. To arrange an interview today, simply click on his icon now.

Expert Says Financial Technologies Can Help Address Climate Change

“Financial technologies offer great promise to tackle climate change and provide pathways for developing sustainable economies and lifestyles,” says Aparna Gupta, a professor of quantitative finance at Rensselaer Polytechnic Institute and co-director of the Center for Research toward Advancing Financial Technologies (CRAFT), the first-ever fintech research center backed by the National Science Foundation. CRAFT brings together industry partners and policy makers to conduct research that is relevant for industry and has potential for commercialization. Dr. Gupta says that blockchain technologies combined with smart contracts and Internet of Things (IoT) devices are set to transform property and casualty insurance that is subject to increasing threats from climate change. Similarly, distributed ledger technologies can be utilized for issuing innovative climate finance securities, such as green bonds and climate derivatives, by facilitating traceable, transparent, and standardized transactions. Regulatory readiness to support blockchain-enabled green bonds and other climate finance securities issuance is underway across the globe. Climate fintech is also set to play a pivotal role in increasing renewable power generation and accelerating the transition to clean energy, according to Dr. Gupta. Digital lending platforms use crowdsourcing models to provide debt financing for residential solar energy systems. Climate-conscious consumers can make spending decisions that minimize their carbon footprint through solutions such as using a credit card that allows them to round up their purchases and use the change for planting trees. In the investment management and advisory space, there is a growing recognition of the need for environmentally sustainable investing. Responding to this need, fintech startups are offering platforms for clean energy investments and enabling investors to construct low-carbon-impact financial portfolios. “Financial technologies innovations are poised to transform almost all aspects of financial services, and in doing so, offer great opportunities to address climate change challenges,” Dr. Gupta says. In addition to her leadership in fintech, Dr. Gupta is at the helm of a team of financial and renewable energy experts developing risk management tools to incorporate renewable energy into the energy market. They will set and standardize risk factors to make it easier for this critical industry to be both productive for investors and creators and systematized for users, similar to the rating system created for the bond market. Dr. Gupta also serves on the Climate Risk Working Group of the Financial Risk Manager Advisory Committee for the Global Association of Risk Professionals tasked with identifying the important climate issues for the training of future global risk professionals. Dr. Gupta is among the many experts and researchers at Rensselaer available to speak on this topic.

Aston University cyber expert to appear at FinTech event in Birmingham

'FinTech Secured – Next Generation' will showcase the work of leading stakeholders in the research and development of financial technology (FinTech) and security Professor Vladlena Benson will offer insight on illicit money flows and trends in Financial Security Registrations are now open for the event on 7 June 2022 at The Compound, Birmingham. The director of the Cyber Security Innovation (CSI) Centre at Aston University is set to appear at a networking event around financial technology (FinTech). Following the success of their first flagship event of 2022 ‘Secure by Design, Advanced Manufacturing’, Midlands Cyber will launch 'FinTech Secured – Next Generation' on the 7 June 2022. The event will be the first face to face event after the pandemic in Birmingham, bringing together thought leaders and service applications specialists for an evening of industry networking. Professor Vladlena Benson, who also serves on the EU’s Agency for Cybersecurity (ENISA) task force defining the Cybersecurity Skills Framework at the European level, will be joined by contacts from within the cryptocurrency sector and offer insight on illicit money flows and trends in financial security. The event will also showcase the work of leading stakeholders in the research and development of FinTech and financial security. FinTech’s academic innovators, CEOs and company founders, entrepreneurs, contractors, investors and policymakers are encouraged to register now to discuss, participate, network and put their questions to our panel of industry experts. Professor Vladlena Benson, an industry-recognised expert in cybersecurity risk management and director of CSI Centre at Aston Business School, said: “Financial services are core to the UK economy and continue to be a common target for cyber criminals. Challenges to the insurance sector and cyber crime prosecution when crypto assets are involved are emerging and at the CSI we are working to provide forensic and data integrity solutions which help secure the FinTech sector.” User of contactless Europay, Mastercard, and Visa (EMV) may be interested in the insights of Tom Chothia, reader in cyber security at the University of Birmingham, on how the vulnerabilities of Apple Pay and Visa could enable hackers to ’Take £1000 from a locked iPhone’. Registrations are now open to join the cluster at 18:00 hrs on the 7 June 2022 at The Compound, Birmingham.

Kelley expert: Olympics could be targeted by hacktivists, others seeking to embarrass Beijing

Scott Shackelford, associate professor of business law and ethics at Kelley, IU Cybersecurity Risk Management Program chair and director of the Ostrom Workshop Program on Cybersecurity and Internet Governance, said the high-profile diplomatic breach leading up to the games — including the boycott led by the United States – “means that the games could be targeted by hacktivists and other groups seeking to embarrass or otherwise harass Beijing.” Scott Shackelford “There are always issues associated with the Olympics given that they are a target-rich environment for criminals seeking to target athletes and spectators alike,” Shackelford said. “Beijing’s harsh data localization, cybersecurity, and cyber sovereignty laws also raises human rights concerns for athletes and reporters attending the games.” He also noted that ironically while the Olympic games generally often coincide with a peaceful break from ongoing geopolitical tensions, this might not last long. “Witness the Russian invasion of Crimea three days after the 2014 Sochi games concluded,” he said. Shackelford can be reached at sjshacke@indiana.edu.

Aston University cyber security experts shape government policy around resilience of supply chains

"Cyber security of any organisation, inclusive of its supply chain, should be promoted in conjunction with other organisational targets, such as profitability, productivity and financial/operational risk management" Professor Vladlena Benson, Aston University Researchers from Aston University’s Cyber Security Innovation (CSI) Research Centre have been invited to respond to the call for evidence by the Department for Culture, Media and Sport (DCMS) The centre works with businesses to help improve resilience to cyber attacks It comes after a series of high-profile attacks on managed service providers affecting thousands of firms and compromising government agencies. Experts from the Cyber Security Innovation (CSI) Research Centre at Aston University have responded to a call for evidence by the Department for Culture, Media and Sport (DCMS) on cyber security in supply chains and managed service providers. The CSI centre works with businesses to help improve their security posture and develops state-of-the-art solutions for supply chain resilience and business continuity. Recent research1 from the centre explored organisational approaches to supply chain management in the West Midlands, specifically in the times of remote arrangements and when traditional business continuity practices in supply chain management have been challenged. It comes as two high profile attacks (SolarWinds and Kesya) on managed service providers threatened the world and brought to a standstill credit card processing for major retail chains in Sweden, while US government officials' personal data was compromised. The €6.9m TRACE project, an EU-funded scheme of which Aston University is a key partner, addresses these issues and kicked off on Friday 9 July 2021. Professor Vladlena Benson, director of the CSI at Aston Business School, recently attended a round table by the Minister of Digital Infrastructure. She said: “Based on the conclusions of our research, we make a recommendation that cyber security of any organisation, inclusive of its supply chain, should be promoted in conjunction with other organisational targets, such as profitability, productivity and financial/operational risk management. “The identification and promotion of synergies between cyber security, profitability and productivity is a strong driver to ensure that, at a senior level, organisations take responsibility and accountability for effective cyber risk management. Dr Donato Masi, from the CSI Centre at Aston University, said: “Profitability or productivity are close to the competitive advantage of the firm and security of the supply chain of any organisation underpins its longevity on the market it operates in. “Investment in cyber security measures, including supply chain risk assessment and counter-threat controls, should be viewed as a ‘cost of doing business’ and business success and/or longevity.” 1Find out more about the research of the CSI Centre here

Aston University cybersecurity experts hold key to vaccine passport rollout

Vaccine passports are certificates to establish proof of vaccination linked to the identity of the holder Renowned expert, Koji Fusa, visiting professor at the Cyber Security Innovation Research Centre (CSI), on the project to develop a global database for citizens to use in real-time. The CSI Centre at Aston University say creating a clear framework of rules for digital identities is achievable Leading cybersecurity industry expert, Koji Fusa, has made progress towards developing a framework for the world’s citizens to store their digital identities and access them in real-time. Koji is a Visiting Professor at the Cyber Security Innovation Research Centre (CSI) at Aston University. The idea would see a platform that has the capability to distribute over 200 individual keys to each of the world’s eight billion people. Each key could be assigned to personal information such as vaccine passports. It will work by vaccine administrators sending the vaccination details of each individual to a dedicated server. That server will issue a QR code which will be passed to the vaccinated person as the digital key for access. The passport holder will keep the QR code which enables access to the server to check their own record at any time. The framework would segment private data in a separate database, which can only be accessed with the individual key along with fingerprint, face and voice recognition technology, making it extremely hard for cyber attackers and scammers to hack. Koji Fusa, a visiting professor at the CSI Centre, said: “The current EU Green Pass initiative and World Health Organisation's initiative have struggled to find the solution for private data protection and counterfeit prevention. This proposed system would solve these two challenges. We have a solution that is secure, something that others have failed to achieve so far. “By having a cloud security server which gives unique reference numbers to all devices, technology issues pointed out by The Royal Society* have been solved. “This will be a huge step forwards for digital identification globally. Not only for vaccine passports, but for people’s personal information too. The framework would make everyday life more secure and simpler. Professor Vladlena Benson, an industry-recognised expert in cybersecurity risk management and director of CSI Centre at Aston Business School, said: “I am delighted to be working on this project with Koji Fusa. With his experience, I’m confident this could become the first such system where the authenticity of the vaccine certification instantly can be checked globally, something that can’t be done currently. "This work is aligned to the trusted identities framework proposed by the UK Government and addresses the issues of data sovereignty and individual information privacy."

Governing for Resilience

COVID-19 has raised the stakes for boards, argues Brunswick’s Paddy McGuinness, former UK Deputy National Security Adviser. We now live with COVID-19. Fewer business leaders are making the mistake of talking about “post-COVID” or “when this is over.” The better of them have factored in COVID-19 related constraints to their medium-term plans and are even thinking about how the world may change in the long-term. They are building capacity to take advantage of an early recovery within months, yet they are modeling and encouraging grit for current and indeed harder conditions to last much longer. In the past, when health emergencies—say the Spanish Flu pandemic of a century ago—subsided, there was a greater return to economic normality than had been expected during the crisis. Extreme events often heighten or even distort our perception of wider risks. That old journalistic cliché “one thing is certain, nothing will be the same again” is rarely true. But the pandemic has created the expectation that businesses will be resilient—that they will be able to respond to an event and recover to the state prior to the event, incorporating the lessons learned into business practice. Many business leaders feel they have not done too badly responding to a once-in-a-hundred-years event. Business Continuity Plans (BCPs), which were understandably sketchy for pandemics, were pulled out of second-line risk management and owned and improved in real-time by executive committees. The transition to remote working and, at least in Asia and some of Europe, the gradual return to offices again, has been managed. Services and even vital production have been maintained. Leaders have absorbed the personal and collective strain of this. Good reason then for some satisfaction as they delegate certain COVID-19 responses and focus on the economic tsunami that follows the pandemic. The public seems to largely agree with business leaders’ assessments. While many national and scientific leaders find themselves beset by “blamestorming,” corporate executives have been given more slack. They weren’t expected to have foreseen a pandemic. Their sometimes scrabbling responses are understood. However, behind this lucky pass lurks an expectation that businesses will now be more prepared for crises and foreseeable risks. Resilience cannot be relegated to BCPs and traditional risk-management structures. It is categorically a board issue—regulators, lawyers, politicians and the public say so. The reputations of individual board members and the collective are at stake. Think how fast leaders have been expected to respond to the issues raised by the Black Lives Matter movement. Alacrity will be required. The speed and scale of decisions in response to the pandemic leaves board committees playing catch up to assure themselves that risks have been managed. The move to working from home has been rapid, so too the digitization of the business. Some see these as new, streamlined ways of working, yet the negative consequences are not yet fully apparent. Working from home, for instance, is attractive to some employees as well as chief financial officers, who may relish the chance to reduce fixed costs. Concerns about the impact on the coherence of the business’s culture, its productivity and innovation, the security of data held at home, hardships for those in difficult home conditions, and, indeed, the needs of the younger demographic who seem to favor a return to the office, need to be given due consideration. It may be a case of “decide in haste, repent at leisure.” Resilience is categorically a board issue—regulators, lawyers, politicians and the public say so. The reputations of individual board members and the collective are at stake. Boards also need assurance that the business has regained its balance and can manage parallel or interrelated crises. In recent weeks we have been helping several clients respond to major cyber events unrelated to the COVID-19 outbreak. They have probably needed more external support than otherwise because their leadership capacity was inevitably denuded by pandemic response. And they have benefitted from us already knowing each other and having experience of how to work together in crisis. After the Great Financial Crash there was a heavy focus on balance-sheet resilience and having the requisite finance skills on boards. Business leaders are now beset by advice on the heightened obligation to be resilient in much a broader sense of the word. Regulators, lawyers and risk consultants are sharing checklists of factors for executive committees to take into account when managing risks and for boards to oversee. The challenge here is defining what changes your specific business needs and how to actually bring those about. Shareholders will be expecting a judicious move away from “just in time” systems to ones that can endure foreseeable risks. This isn’t just about potential legal liability or reputational risk. This is about setting your business culture for success. Undermanage risks and the business is wide open to damage from foreseeable shocks with all the loss of confidence and capability that follows. Overmanage and the business losses its competitive edge just when there is opportunity in the recovery. In order to track broader resilience, boards and their committees will need access to a wider set of skills and insight. Board membership emerges as an obvious area of focus. Yet each board will take more time and belonging to too many—“over boarding”—may well be unacceptable. Risk methodology and information flows will also have to be reviewed, alongside how to strengthen board members’ awareness and skills. Before the pandemic, chairs and CEOs were already wrestling with this for their difficult-to-price risks, such as data, technology risks and cyber. Individual experts on boards created siloed responsibility for what should have been a shared risk. A focus on process and method often led to a focus on the management, rather than genuine oversight of, risks. External advice didn’t always help (as we have learned from the plethora of competing advice around COVID-19). No single intervention will meet the new standard for resilience. Nor will simple prescription. A broader and more articulated approach is required if governance is to maintain stakeholder confidence and corporate reputation.

IDC Canada Recently Released 20 New Research Reports to Understand the Impact of COVID-19 on the Canadian ICT Market

TORONTO, ON., May 29, 2020 — International Data Corporation (IDC) Canada announced today the release of 20 new research reports to help vendors understand the impact of COVID-19 on the Canadian ICT market, including five new forecast documents. In addition, most analysts have created an additional report analyzing the impact of COVID-19 on their specific technology patch, providing our clients with additional details on the impact and guidance for vendors in that market. IDC Market Forecasts help technology suppliers identify market drivers and size, measure current performance, analyze leading market indicators, as well as plan for future opportunities and growth. The five forecast reports are listed below: Canadian Communications Services Forecast, 2020–2024: COVID-19 Turns Telecom Inside Out (IDC# CA45063520 ). This IDC study presents IDC Canada's five-year forecasts for communications services spending by market and customer segments, company size, industry sector, and region for 2020–2024 based on the annual update of IDC Canada's Communications Market Model and replaces our previous comprehensive spring and fall 2019 forecasts. "Communications providers are largely recession proof and fortunately investments in next-gen network technologies and architectures are allowing communications service providers to cope with unrivalled demand," says study coauthor Lawrence Surtees, vice president of Communications Research and principal analyst at IDC Canada. "But the duration of the COVID-19 pandemic is still a great unknown and its associated economic shocks could dramatically impact the current forecast." Canadian IT Professional Services Forecast, 2020–2024 (IDC# CA45064220 ). This IDC study provides the spring 2020 market size and forecasts for the Canadian IT professional services market. The professional services market is made up of four submarkets: Custom application development, IS consulting, Network consulting & integration, and Systems integration. "The Canadian IT professional services market relies on discretionary capital spending budgets, which are typically suspended or curtailed in times of economic uncertainty. 2020 will be a challenging year for professional services firms due to the COVID-19 pandemic, but the market is expected to recover as the Canadian and global economies recover and businesses reinstate capital spending for IT projects," says Jim Westcott, research manager, Professional Services, IDC Canada. Canadian Infrastructure Outsourcing Services Forecast, 2020–2024 (IDC#CA45058420). This IDC study provides IDC's forecast for the Canadian infrastructure outsourcing services market for 2020–2024. It is an update of the previous forecast published in Canadian Infrastructure Outsourcing Services Forecast, 2019–2023 (IDC #CA43804019, May 2019). "The infrastructure outsourcing market continues to change, and COVID-19 will likely accelerate change. The decline in 1st and 2nd Platform technologies is leading to slow outsourcing spending on these areas, while the growth in 3rd Platform technologies to support digital transformation are increasingly incorporated into outsourcing and managed service engagements," says Jason Bremner, research vice president, Industry and Business Solutions. Canadian Consumer Wireless, Internet, and Wireline Voice Services Forecast, 2020–2024 (IDC# CA45059520). "In an already-competitive consumer market in the middle of great technological change, the global Coronavirus pandemic and the precautionary restrictions it has placed on Canadians has not only caused drastic socioeconomic changes but has forced consumers to weigh out the value proposition of each consumer service," says coauthor Manish Nargas, senior analyst for Consumer Services and Mobility. "Survival of the fittest is the call of the hour, and it seems that some consumer services will fare better than others after the dust has settled. While easier said than done, service providers need to think beyond the today's losses in order to plan for tomorrow's win." Canadian Consumer TV Services Forecast, 2020-2024 (IDC#CA45059620). This IDC study examines the forecast for Canadian consumer TV services subscribers and revenue. It also addresses the factors shaping the market as well as the key drivers and inhibitors underlying the forecast. "TV service providers will have to bring out their A game as they look to harness their next-gen TV service capabilities and create symbiotic, seemingly 'complementary' partnerships with OTT video providers to keep consumer eyeballs on their TV service platforms all the while combating economic ill effects of COVID-19 restrictions in the short term," says coauthor Manish Nargas, senior analyst, Consumer Services and Mobility at IDC Canada. "Based on our forecasts from May 1, 2020, we’re looking at an unprecedented 5.4 per cent decline for the year for the combination of telecom and IT spending in Canada. The cumulative impact of trade restrictions, supply chain impairments, commodity price declines, significant lay-offs and freefalling consumer and business confidence has led to a more dramatic impact on the overall ICT market than we had predicted in early April," says Nigel Wallis, vice president, IoT & Industries at IDC Canada. IDC develops detailed forecasting reports and analysis for major technology markets in Canada, which are published annually during the month of May. IDC's Forecast Scenario Assumptions for the Canadian ICT Market, 2020 and Beyond (IDC# CA46217620 , May 20 20 ) supports the underlying macroeconomic assumptions for each of the ICT market forecast reports. We also recently released a new interactive Canadian COVID-19 IT Impact Dashboard tool to help our clients visualize the impacts, in partnership with Rel8ed.to, which is available for everyone to use. For our clients that need to know the impact of the pandemic on ICT Spending beyond Canada’s borders, IDC created our global COVID-19 Resources microsite which contains more research reports, webinars, press releases and blog posts from around the world. We’ve also done a series of free webcasts for our clients with the first one on April 2 and the second one on May 6. Our third webcast in this series will occur on June 4th. Register today for COVID-19 Impact: Preparing for Recovery in the Canadian Tech Market. Here’s the list of our recently published Canadian-based COVID-19 research reports to help our clients meet the challenges from the pandemic, anticipate market changes and keep business moving: COVID-19 Impact on the Canadian ICT Market (IDC#CA46134820) Canadian Datacenter Infrastructure Action Item, Q2 2020: The Impact of COVID-19 (IDC#CA45057420) Impact of COVID-19: Canadian IT Services Market (IDC#CA46166120) All Priorities Aside: The Canadian Government's Singular Response to COVID-19 (IDC#CA46166920) The Impact of COVID-19: Canadian Security Solutions Market (IDC#CA46166520) Canadian Communications Service Provider Capex Spending, 2019–2020 (IDC#CA45063820) Canadian Government Wireless Price Policy - Ill-conceived and Horribly Timed (IDC# CA45663920) COVID-19 Business Impact: Hierarchy of Needs; Moving from Pandemic Risk Management to Organizational Agility (IDC# CA46228420) How is the Pandemic Crisis Impacting Digital Transformation in Canada? (IDC# CA46235620) Impact of COVID-19: Canadian Software as a Service Market (IDC# CA46166620) COVID-19 Impact: What’s Next for the Canadian Tech Market (IDC# CA46281820) COVID-19 Impact: Canadian Retail & Wholesale Market (IDC# CA45674020) COVID-19 Leadership: Canadian CIOs Strategize on Responses to COVID-19 (forthcoming) Critical Networks Provide Critical Care: Role of Communication Networks to Treat and Prevent COVID-19 (forthcoming) COVID-19 Impact: Canadian Vertical Markets Overview (forthcoming) For more information about the market forecast reports, the COVID-19 related reports, or to arrange a one on one interview with any of the report authors, please contact Cristina Santander at AskIDC@IDCcanada.com.

IU Kelley School expert: $170 million fine of Google, YouTube probably not enough

In the largest fine ever, Google agreed to pay $170 million to settle a case with the Federal Trade Commission and New York’s attorney general over charges that YouTube made millions from violating children’s privacy laws. Scott Shackelford, associate professor of business law and ethics at the Indiana University Kelley School of Business, chair of IU’s Cybersecurity Program in Risk Management and director of the Ostrom Workshop Program on Cybersecurity and Internet Governance, doubts it will have much of an effect. “Google, via YouTube, has been held accountable by the FTC and the New York Attorney General’s Office for its practices that violated children’s privacy, but it’s questionable whether a $170 million fine is sufficient to change business practices,” Shackelford said. “Similar to its $5 billion fine against Facebook, the FTC needs to do more to both increase these penalties, and even more importantly require the necessary steps to ensure that these violations do not recur. This is the FTC’s third fine against Google since 2011, for example, and it will likely not be the last.”