Amid market turmoil, cyber investors explore a range of options. A sector that has raised record amounts of funding in recent years should brace for a drop in deal activity amid the coronavirus-related economic turmoil, WSJ Pro Venture Capital reports, citing research from venture firm DataTribe. Gula Tech Adventures isn’t taking meetings for new deals and is thinking about which of its existing portfolio companies have realistic chances of surviving, said Ron Gula, the firm’s president. “Nobody is starting due diligence on companies right now,” he said.
Then again: ForgePoint Capital Management, which raised a $450 million fund to target cybersecurity startups in late February, is pouncing on deals with more investor-friendly terms, co-founder and Managing Director Alberto Yepez said. The San Mateo, Calif.-based firm is in the process of closing investments into two cybersecurity startups, Mr. Yepez said.
Chinese hacking group allegedly behind surge in corporate spying attempts. Cybersecurity firm FireEye Inc. said it has seen an uptick in activity since January from a group known as APT41, linked to China, Reuters reports. Since January, at least 75 FireEye customers in industries such as manufacturing and health care have been targeted by APT41, which is known for corporate espionage. FireEye declined to name the customers but said their networks are in several countries including the U.S., Britain and Singapore. The Chinese embassy didn’t respond to Reuters’ request for comment.
Law firms tell housebound attorneys to turn off Alexa, other smart speakers. Amazon.com’s Alexa, Google’s voice assistant and similar devices could overhear confidential legal conversations or be compromised by hackers, Bloomberg reports. Baby monitors and Amazon’s Ring video doorbells also present risks to attorney-client privilege as lawyers work from home during the coronavirus pandemic.
Certain health data can be disclosed for Covid-19 patients without violating privacy law. The U.S. Department of Health and Human Services this week revised privacy rules to allow some caregivers to share protected health information about individuals exposed to or suffering from Covid-19, the illness caused by the novel coronavirus. Guidance issued this week allows health professionals to share a patient’s name and other identifying information without the individual’s permission in some common scenarios:
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When needed to provide treatment;
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When required by law;
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When first responders may be at risk for an infection; and
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When disclosure is necessary to prevent or lessen a serious and imminent threat.
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