Category Archives: regulatory trend

Business Trend. Cost of Global Cyberattack at Hurricane Costs. Insurance Policy.

Lloyds of London estimates a global cyber attack will result in damages similar to hurricane Sandy, or $53 billion in economic losses from a global hacking of cloud services.

How do the $53 Billion oin costs break down?

  • Average economic losses  $4.6 billion to $53 billion

  • Actual losses could be as high as $121 billion

  • $45 billion of that sum may not be covered by cyber policies, because

    • companies are underinsuring

  • If operating systems are hacked, average losses…

The Steps Maryland took after hacker went for its voter information. Procurement Opportunity.

In August 2016, Maryland officials notices hackers were trying to get to voter information, that set off a flurry of legislator and regulator activity. Here’s where they ended up almost a year later:

  • legislators didn’t find out until it was in the news which ruffled feathers. suprise!
  • Within 3 days of noticing the hacking attempt,  state’s computer staff blocked the IP address from multiple parts of the network
  • The Maryland elections administrator notified the Governor’s cabinet
  • 2 weeks…

Lege Trend. State CIO + State Cybersecurity Advisory Council. 3 Key Bits of Intel. Read the bill.

Oregon’s Senate Bill 90 creates a new position of Chief Information Officer who is responsible for:

  • Overseeing the Cybersecurity Advisory Council with 9 voting members and an indeterminate number of appointed, non-voting members
    • with required participation by law enforcement representatives
  • Creating the Oregon Cybersecurity Center of Excellence tasked with inter- and intra-agency coordination, threat response, & information-sharing
  • Mandates agency cooperation with the CIO

Government…

Health Care Data Breach Loophole. Some breaches need not be reported. What you need to know.

Some say hospitals that get hit by a ransomware attack need not disclose the ransomware data breach.

The question- If data is held hostage/accessed but is not taken must that be disclosed?

The supporters for disclosure say: More mandatory reporting.This regulatory gap limits the health-care system’s ability to fight cybercriminals.

Who is counted among supporters of disclosure? Congressman Ted Lieu, a California Democrat who along with Congressmen Will Hurd, a Texas Republican

What do…

National Governor Association Prioritizing Cybersecurity. 4 Highlights to be Informed.

Virginia Gov. Terry McAuliffe, Chair of the National Governor Association, urges states to:

  • not wait for the federal government to protect data security and privacy
  • federal funding is needed for states
  • states must lead with coordiantion with the federal government
  • Virginia’s Executive Order creating a Cyber Security Commission should be duplicated in other states

Politico | Governor Cyber Speaks

SEC Warns Cyber Defenses Do Not Pass Muster. 3 Bits informed:intel

The Securities Exchange Commission has issued a warning investment advisers that they need to be more proactive in data security by:

  • conduct continuous cyber-risk assessments
  • performing penetration or venerability tests
  • 26% of advisers and funds examined failed to conduct periodic risk assessments of critical systems to identify cyber security threats, vulnerabilities, and the potential business consequences.

Reuters | SEC identifies adviser cyber security flaws

Reuters | Exclusive: New SEC…

4 Future Data Security regulatory issues for Health Care.

The federal HEALTH CARE INDUSTRY CYBERSECURITY TASK FORCE released 27 recommendations in its June 2017 report, and set forth these 5 future regulatory issues for health care cybersecurity:

 

  • Develop a cohesive plan for implementing this report’s recommendations and develop appropriate metrics to measure data security implementation progress.

  • Conduct a risk analysis, similar to the National Infrastructure Protection Plan, with an overlay for health care cybersecurity and privacy.…

Lege TREND. Office of Cyber Defense Coordination. 4 Bits informed:intel

The State Legislature that created the Office of Cyber Defense Coordination​: Nevada

Within which state agency will the Office live? Nevada’s Department of Public Safety

The Legislation creating the office: Nevada’s AB 471 (2017)

What do these cyber offices look like in other states?

TREND. State adds 4 Executive Level Data Security Positions.

State: Massachusetts

The highest level Massachusetts government position created: Secretary of Technology

The MA Secretary of Technology would be tasked with hiring:

  • chief data officer
  • chief privacy officer
  •  chief digital officer

Originator of the MA Secretary of Technology post: The Massachusetts Governor

Data and cyber positions are gaining power insisde and outside government.

Greenfield Recorder  | New Baker bill creates Cabinet position for technology