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Financial Post: Canada ranks fifth among 20 countries in its preparation for and response to cybersecurity threats, according to a standard created by an academic journal and a security vendor.
Holland & Knight: The New York Department of Financial Services (NYDFS) on Nov. 9, 2022, released Proposed Amendments to its Cybersecurity Regulation.1 The NYDFS Cybersecurity Regulation was one of the first laws requiring companies to comply with a prescriptive set of requirements in their cybersecurity program and has been credited for influencing similar requirements by several other regulatory bodies.
Businesswire: Financial services organisations in the UK are preparing for an onslaught of increased cyberattacks in the next year, according to new research by Keeper Security. The 2022 Financial Services Cybersecurity Census Report uncovered that, on average, UK financial services businesses experienced 39 cyberattacks in the last 12 months and one in 10 experienced between 500 and 1,000 attacks.
Forbes: As we continue to rely on technology more and more, we should also be increasingly thinking about protection. According to Cyber Security Hub, two-thirds of companies are spending more on cybersecurity in 2022 than last year — a pattern that should only continue.
CTV News: The federal auditor general says government departments have not always effectively implemented measures to ensure secure storage of information in the digital cloud.
The Target: Harcourts’s Melbourne branch, a real estate company.
The Take: Exposure of Personally Identifiable Information including: names, email addresses, home addresses, phone number, copy of signatures, photo identification, and some bank details.
The Vector: An employee’s credentials were compromised at one of Harcourt’s third-party providers, Stafflink. The breach occurred because the employee was using one of their own unsecured devices for work rather than a company issue device. The compromised credentials account allowed the attacker full access to the above personal information.
This breach is a stark reminder of how authentication controls are in an overall robust cybersecurity posture, and more critically, why enforcing security rules and strategies is only effective if employees are using compliant devices where these rules exist. Enforcing multi-factor authentication, reasonably paced password resets, and regular social engineering and phishing awareness training are all effective strategies to mitigate these kinds of breaches to protect a firm’s customer base.
Forbes: Executives and other business leaders are constantly bombarded—whether by email, social media or otherwise—with advertising of the latest and greatest cybersecurity products. With thousands of vendors offering solutions in the cybersecurity space, it's no surprise that they are all clamoring for attention and, of course, some share of the wallet.
Harvard Law School Forum: Digitalisation has changed the way companies operate and given rise to a rapidly evolving set of risks that companies face and must prepare for – cybersecurity risks. The increasing prevalence of cyber attacks, notably ransomware, coupled with declining availability of cyber insurance, is leaving companies increasingly exposed to the often-significant impacts of a cybersecurity incident.
Atualidade: The legislation, already agreed between MEPs and the Council in May, will set tighter cybersecurity obligations for risk management, reporting obligations and information sharing. The requirements cover incident response, supply chain security, encryption and vulnerability disclosure, among other provisions.
Mint: According to the report, India respondents consider a catastrophic cyberattack, a resurgence of COVID-19 or a new health crisis, and a new geopolitical conflict among the top three risks.
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