Cybersecurity

• [New] The federal government should provide more funding to state and local agencies for IT projects that could enhance cybersecurity and help mitigate the risk of ransomware attacks.
• [New] The rise of DNA data has legal experts increasingly concerned that the United States is not effectively protecting consumers from the many privacy risks that now loom before them.
• [New] In view of developments in the past year, two-thirds of HR in Hong Kong are concerned about collection of personal identifiable information, data security and increased cyber risks.
• [New] Last month, the Federal Bureau of Investigation Cyber Division warned cybersecurity professionals of increased Pysa ransomware activity targeting education institutions in 12 US states and the United Kingdom.
• [New] As more and more states explore data privacy legislation, and as tech leaders take on privacy issues, we anticipate the number of DSRs to increase in the coming year.
• [New] The U.S. is in danger of falling behind China and Russia in developing AI technologies and countering cybersecurity threats that could develop as AI use becomes more widespread (see: AI Supremacy: Russia, China Could Edge Out US, Experts Warn).
• [New] Over 90% of cybersecurity professionals in the US and Japan expect attackers to start using AI to launch attacks.
• [New] Cybersecurity and data privacy risks were rated at an average of 4.48/5 currently, which ballooned to 4.75 when respondents were asked to look ahead at the next five years.
• [New] Allowing Chinese telecom companies like China Telecom or China Mobile to have a point of presence in the United States may not create unmanageable risk if adequate cybersecurity measures are in place (usually they are not).
• [New] If the United States imposes sanctions, Russia will likely respond either in kind or by escalation - putting civilian lives at risk.
• [New] The risks of increasing racial bias, of creating irreversible cybersecurity threats, of creating a state of constant fear and surveillance is too great a burden for Chicago to bear.
• [New] As cybersecurity breaches by threat actors and advanced persistent threat countries continue to wreak havoc on systems around the world, a new vulnerability has emerged: attacks on equipment and non-internet facing systems.
• [New] The high risk of hacking means smaller companies seeking protection for their 'hot wallets' - digital assets stored online - can typically get just about US$ 10 million covered, with the largest limits rarely exceeding the US$ 100-200 million range, insurers and brokers said.
• [New] Cybersecurity firm Check Point last week saw an increase in attacks against Microsoft Exchange servers with the critical ProxyLogon vulnerability.
• [New] With an average person expected to generate as much as 175 Zettabytes of data per second 1 by the end of 2025, Security and Privacy concerns are paramount, now more than ever.
• [New] 55% of enterprise executives plan to increase their cybersecurity budgets in 2021, and 51% plan to add full-time staff dedicated to cybersecurity within the year.
• [New] Last September, Google Cloud took the wraps off Chronicle Detect, a new threat-detection solution built on its infrastructure to help enterprises move from legacy security tools to a modern system that can quickly identify threats at scale.
• [New] USAID strategies aim to counter threats created in the digital space, including risks to privacy and security, online extremism, misinformation and disinformation, and digital resource exclusion.
• [New] Almost every organization and e-commerce company around the world that either has an online presence or works off a shared database or system will need effective measures in place to keep internal data and information safe and secure.
• [New] As COVID-19 pushed more organizations to embrace remote work and digital work streams, vulnerability to breaches has grown materially, which in turn increased the demand for hiring hard-to-find cybersecurity professionals.
• Worldwide, regulators have taken action to make resilience against cybersecurity threats a baseline requirement for connected medical devices, systems and networks.
• The cyber threat is exploding, particularly over the last three or four months, and businesses in the mid-market - with a turnover of between £10 mn and £250 mn - are typically under provisioned both from a technology and cyber security perspective.
• The high risk of hacking means smaller companies seeking protection for their 'hot wallets' - digital assets stored online - can typically get just about $10 million covered, with the largest limits rarely exceeding the $ 100-200 million range, insurers and brokers said.

Last updated: 11 April 2021