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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.
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.
S&P Global: U.S. information technology M&A activity remained muted in October, despite continued interest in cybersecurity targets. Overall, sector deal volume was down 32.4% year over year in October. At 192 transaction announcements, the month also had eight fewer deals than September, extending 2022's tech M&A downturn.
Mondaq: The U.S. Department of Justice (DOJ) issued a press release announcing the unsealing of a criminal complaint in which intelligence officers from the People's Republic of China ("PRC") were charged with attempting to obstruct a criminal prosecution in the Eastern District of New York.
CNBC: U.S. banks and financial institutions processed roughly $1.2 billion in likely ransomware payments in 2021, a new record and almost triple the amount of the previous year, according to a federal financial crimes watchdog.
Malay Mail: The US Treasury last month repelled cyber attacks by a pro-Russian hacker group, but the incident caused little to no disruption and confirmed that the department’s stronger approach to financial system cybersecurity was working, a US Treasury official said.
Techcrunch: Networking and cybersecurity firm Versa announced that it raised $120 million in a mix of equity and debt led by BlackRock, with participation from Silicon Valley Bank. CEO Kelly Ahuja tells TechCrunch that the proceeds, which bring Versa’s total capital raised to $316 million, will be put toward go-to-market efforts and scaling the company. He demurred when asked what percentage of the financing was equity versus debt.
World Economic Forum: New United States Securities and Exchange Commission (SEC) rulemaking makes cyber risk reporting and business resilience planning a key component of effective board governance.
CNBC: In a new proposed settlement, the Federal Trade Commission is seeking to hold a tech CEO accountable to specific security standards, even if he moves to a new company.
Global News: A new research report says federal cybersecurity legislation is so flawed it would allow authoritarian governments around the world to justify their own repressive laws.
