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Yahoo Finance: U.S. pipeline operators will be required for the first time to conduct a cybersecurity assessment under a Biden administration directive in response to the ransomware hack that disrupted gas supplies in several states this month.
Yahoo Finance: Canada's national mail carrier says a malware attack on one of its suppliers has impacted 44 of its biggest corporate customers across the country, and potentially up to nearly one million people.
BNN Bloomberg: Colonial Pipeline Co. confirmed on Wednesday that it paid hackers US$4.4 million in ransom after suffering a devastating cyberattack that took the U.S.’s largest fuel pipeline offline.
BNN Bloomberg: President Joe Biden’s infrastructure proposal includes billions of dollars tied to improving cybersecurity, an area of intensified interest after the ransomware attack on the Colonial Pipeline Co. sent U.S. gasoline prices soaring.
Forbes: On the first Friday in May, a gang of black-hat hackers operating under the ominous nom de guerre of DarkSide successfully breached the cyber defenses of Colonial Pipeline, a company that moves 100 million gallons of fuel a day through a 5,500-mile network of pipes running across the eastern half of the U.S.
BNN Bloomberg: Colonial Pipeline Co. paid nearly US$5 million to Eastern European hackers on Friday, contradicting reports earlier this week that the company had no intention of paying an extortion fee to help restore the country’s largest fuel pipeline, according to two people familiar with the transaction.
Compliance Week: A Colorado-based broker-dealer will pay $1.5 million as part of a settlement with the Securities and Exchange Commission (SEC) announced for lapses in the filing of suspicious activity reports (SARs) related to the threat of cyber-breaches.
O Canada: President Joe Biden on Wednesday signed an executive order to improve federal cyber security capabilities and digital security standards across the private sector.
MSN Money: Cybersecurity is more critical than ever, especially in a world already reeling from supply disruptions and bottlenecks caused by the coronavirus pandemic. The latest big ransomware attack, against Colonial Pipeline Co., is an eye-opener, as it has led to the shutdown of the 5,500-mile Colonial Pipeline system and could push up gasoline prices.
Cision: With the digital economy continuing to grow rapidly, accelerated by the COVID-19 pandemic, cyber security is an ever-increasing concern for Canadians and businesses. A strong cyber security sector will cement Canadians' trust in the digital economy. That is why the Government of Canada is committed to ensuring Canada is a global leader in cyber security innovation and talent development.
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