Cyber risk the top risk management concern among FTSE 350 companies
According to the latest Boardroom Bellwether survey, carried out in October 2017 by governance body ICSA in partnership with the Financial Times, 80% of FTSE 350 businesses believe their exposure to cyber risk is increasing. In comparison, 56% of the respondents said they believe legal risk and political risk is increasing. The survey also found that 90% of FTSE 350 companies are increasing the amount of money they are spending to mitigate cyber risk, ICSA said.
The FBI Is Disrupting 10X Fewer Cyber Crime Rings Than In 2015
The FBI missed its own target of 500 disruptions or dismantlements in fiscal years 2016 and 2017, according to the report. Despite missing that goal, the FBI’s cyber division “made noteworthy progress towards neutralizing global cyber threats,” according to the 2017 report. The bureau also continues to list cyber operations as one of its major priorities and officials frequently highlight cyber operations during public events.
Cybersecurity Today Is Treated Like Accounting Before Enron
But when these vulnerabilities are exposed and damaging attacks occur, there are few lasting repercussions. Almost without fail, stock prices bounce back, customers return, executives keep their jobs or exit with golden parachutes, and government mostly looks the other way. […] The tepid consequences are part of a growing problem. From a corporate governance and accountability perspective, cybersecurity today is being treated like accounting was before the fallout from the Enron scandal inspired the Sarbanes-Oxley Act’s increased standards for corporate disclosures. With the privacy and personal data of hundreds of millions of people at risk, and especially now with the increasing ubiquity of connected devices in our lives, the security of digital assets is too important for that kind of treatment.
The year ahead in cybersecurity law
These cases and bills highlight the fact that the patchwork of old laws and regulations – across the United States and across every industry – are having a difficult time keeping up with rapidly developing technology, particularly when they have to balance privacy rights with law enforcement needs. This year, some of the biggest issues to watch will be data disclosures to law enforcement, civil liability for data breaches, and board-level responsibility for data security.
Microsoft tests show Spectre patches drag down performance on older PCs
What this means to you: Unfortunately, older PCs look like they’re going to be hit the hardest, based on the way Windows was coded at the time. But even if you’re tempted not to patch, please do! Your data needs to be protected. PCWorld’s Meltdown and Spectre FAQ and our guide to keeping your PC safe from the CPU flaws have a lot of additional information.
House passes Homeland Security cybersecurity oversight bill
The legislation passed Tuesday would specifically require the Department of Homeland Security, which is now known to have a seat at the table in VEP, to report to Congress on the policies and procedures by which previously unknown vulnerabilities are disclosed to the private sector. Lawmakers passed the bill in a voice vote Tuesday afternoon.
FBI chief calls encryption a ‘major public safety issue’
“Being unable to access nearly 7,800 devices in a single year is a major public safety issue,” he said, taking up a theme that was a signature issue of his predecessor, James B. Comey. “We’re not interested in the millions of devices of everyday citizens,” he said in New York at Fordham University’s International Conference on Cyber Security. “We’re interested in those devices that have been used to plan or execute terrorist or criminal activities.”
Russia uses missiles and cyber warfare to fight off ‘swarm of drones’ attacking military bases in Syria
Thirteen attack drones were launched against the Khmeimim air base and a naval facility in the city of Tartus on Syria’s western coast, the Russian defence ministry said. Russian forces shot down seven of the drones with anti-aircraft missiles while the other six were hacked by a cyberware unit and taken under Russian control, the ministry said. No damage or casualties at the two military bases were reported.
Cyber Warfare Iranian Style
Activists in turn fight back by finding ways to pretend they are in a part of the internet that a regime does not control. […] The cyber warfare goes back and forth like a cat and mouse chase. Today’s regime hunt for the VPN’s to shut down. Activists try to stay a step ahead opening new VPN’s before the last one is killed. It’s a grassroots form of a self-annealing connection hopping security design based on millions of nodes acting independently.
Cyber attacks in 2017 drive Nordic security efforts
“Ransomware attacks [in 2017] were definitely a wake-up call for many companies since they affected businesses of all sizes and from all sectors,” said Mika Susi, chief policy adviser, corporate security, at the Confederation of Finnish Industries. “I think many companies realised the chance of getting attacked nowadays is more probable than ever.”
Cyber Vigilantes and Hacktivists a Double-Edged Sword Against Isis
While such politically motivated non-state hackers are relatively effective at removing the presence of terrorist content, their continued operations could damage overall counterterrorism efforts by undermining intelligence operations – say by taking down a website that the CIA or NSA is monitoring. By letting these groups run loose – if even for a noble cause – the U.S. risks undermining international norms of cyber operations among states by legitimizing the phenomenon of “patriotic hackers” used as proxies by governments engaging in deniable operations.
The Legal Side of Cybersecurity and GDPR
So, what are steps organizations should take to help manage legal risk? According to Wright, counsel should be trained in the topic as well as in how cybersecurity and digital forensics work and what their shortcomings are. To manage cyber legal risk, counsel should be familiar with the use of contracts, policies, terms of service and attorney confidentiality rules. Today, the greatest impact of GDPR on cybersecurity will be the requirement for organizations to give notice of a data security breach. Until now, the requirements to give notice in Europe were few.
Safe cities: Citizens want to interact online with police
Nearly all of residents of four major US cities are willing to use online digital media to submit evidence to law enforcement agencies, suggesting the need for more interactive platforms to promote the exchange of information between police and citizens, according to a new survey sponsored by Unisys Corporation.
GOP senator says she’ll vote to restore net neutrality rules
A Congressional Review Act (CRA) resolution from Sen. Ed Markey (D-Mass.) to reverse the Federal Communications Commission’s net neutrality repeal would need votes from all Democrats and two Republicans in order to pass through the Senate. Sen. Susan Collins (R-Maine) today became the first Republican senator to pledge support for the repeal reversal.
Anti-Virus Updates Required Ahead of Microsoft’s Meltdown, Spectre Patches
Microsoft is requiring affected AV vendors to add a registry key to the startup sequence certifying their software works with Microsoft’s patches. Microsoft’s Patch Tuesday security updates are scheduled to be release today. “Customers will not receive the January 2018 security updates (or any subsequent security updates) and will not be protected from security vulnerabilities unless their antivirus software vendor sets the following registry key,” Microsoft said in a Jan. 3 security bulletin.
AI-Powered Search Engine Ella Searches Security Footage with Keywords
The deep-learning based search engine is equipped with natural language search function that allows users of surveillance cameras to search across recorded video footage. Apart from deep-learning capabilities, Ella also uses algorithmic tools to recognize objects, colors, vehicles, animals, and individuals from security camera footages.
Oracle app server hack let one attacker mine $226,000 worth of cryptocoins
The attacks appear to have leveraged a proof-of-concept exploit of the Oracle vulnerability published in December by Chinese security researcher Lian Zhang. Almost immediately after the proof of concept was published, there were reports of it being used to install cryptominers from several different locations—attacks launched from servers (some of them likely compromised servers themselves) hosted by Digital Ocean, GoDaddy, Verizon Business Services, and Athenix.
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