Category Archives: utilities

3 New Cyber Security Threats for Financial Types & Everyone

Morgan Stanley’s chief information officer of technology and risk information told the Securities Industry and Financial Markets Association’s annual conference that there are 3 new cyber security threats emerging:

  • ransomware- targets an entity, holds your systems hostage until a ransom is paid
  • malicious insiders- someone with valid apparently credentials that seeks to “expose” the entity
  • destructive malware which hits the energy sector more than financial sectors

Think Advisor | 3…

Data Breach Enforcement: Cable Providers. Regulatory Enforcement. 3 Things to Know Now.

  • In 2014 Cox Communications was hacked. Millions of customer personal data was exposed.
  • Cox paid for notification and credit monitoring services for the millions of impacted customers.
  • Cox also faces regualtory enforcement from the FCC. The FCC is requiring:
    • A comprehensive compliance plan
    • A written information security program
    •  Cox will be monitored by the FCC for 7 years

JD Supra | FCC settles data security enforcement action with Cox

Millions of Funding for Data Security for Electric Generation, Electric Grids & Oil & Gas.

  • Cyber Resilient Energy Delivery Consortium heads the $28.1 effort
  • Consists of 11 national laboratories and universities and is led by the University of Illinois
  • Dartmouth received a $925,000 grant to “improve the protection of the electric grid and oil and natural gas infrastructure from cyber threats”

Concord Monitor | AP | Dartmouth College gets $925K cybersecurity grant

3 Data Security Risks at Power Plants Coming to a Regulatory Agency Near you

  1. known internet-related vulnerabilities. 
    • ​Especially the use of commercial ‘off-the-shelf’ software, which is cheaper but with greater access for hackers.
    • Lack of proper protection from internet access.
  2. lack of nuclear facility personnel training
    • Many plants were built before cyber threats were an issue
    • A gap emerges between plant personnel and cyber security personnel
  3. No proactive solutions for potential threats 
    • ​​Reacting to potential threats is not enough cyber…

3 Federal Regulatory Data Security Acts Point to State Legislation on the Horizon

What have the feds done for us lately to protect our data security?

1.     Weeks ago the FDA stopped the use of a pump for infusion therapy because it could be hacked

2.     July’s recall of 1.4 million Chryslers, Dodges & Jeeps because of hacking the auto software

3.     The SEC following through on enforcement for insider trading due to a computer hack

Let’s not forget it has also been the year of:

  • student data breaches
  • insurance companies data breaches
  • a fear of data security…

North Texas Congressman Front & Center on Cyber Security Legislation

In the political hot spot that is Denton County, Congressman Burgess noted the importance of bringing all stakeholders together on data security legislation by saying,

“I wanted to take an opportunity to hear from people who are working in the research area and the private sector and pull everyone together in a room for the morning and hear what the state of the industry is, and where they thought we might do things to improve it,” said Burgess, R-Lewisville.

Denton Record Chronicle

Data Security and Electric Grids

Sen. Debbie Stabenow (D-Mich.) and Sen. Martin Heinrich (D-N.M) say the Energy and Water Development funding bill shortchanges our electric grid from being properly protected from a cyber attack.

They call for funding the following data security protections:

  • virtual forensics platform,” intended to detect malicious actors sitting on the network
  • Replace the $11M removed from the Cybersecurity for Energy Delivery Systems

The Hill