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Cybersecurity is the flavor of the month: A very important update from U.S security services to the Senate.
We’re on day 3 of the month and at least 3 committees have started to lift the lid on cybersecuirty. Be that focusing on United Healthcare or as in the enclosed National Intelligence and the Military. One common thread through these committees, cyber as a National Security Threat. Another is there’s been no solutions discussed to address the problem of cybersecurity risk management.
In the enclosed Senate Armed Services Committee hearing Hon Avril D. Haines makes it clear that the U.S intelligence services see cybersecurity as a significant threat. (https://lnkd.in/d-YN-EKb). Both Russian and China are major cyber threats to the U.S and partner nations. Cyber is the most ‘pernicious trans national threats’. Ransomware cyber attacks increased 74% in 2023, with US entities the most heavily targeted. The increased frequency of cyber attacks increases the collective odds of at least one having a significant impact.
So much for cyber attacks being complex and sophisticated, seems a script kiddy can launch a successful attack, and that’s before the real experts start such as state sponsored threat actors start.
‘Cyber Actors took advantage of default or weak passwords, unpatched known vulnerabilities and poorly secured network connections to launch relatively simple attacks. For this reason it is crucial that all of us particularly CNI owners and operations improve cybersecurity practices.’
‘During peacetime state actors put a premium on preparing offense capability by planting foot holds in infrastructure.’
48:10 – China and Russia prepositioning themselves in CNI to conduct attacks.
50: 23 – Companies are not managing the basic cybersecurity practices.
The cyber insurance industry should pay close attention to this hearing. If companies do not do the basics, how should the insurance industry respond.
Should we be surprised therefore that we get hacked
@Thaddeus Dziekanowski Brian D. McCarthy Rachel V. Rose, JD, MBA Ryan Buckner
Veritas GRC
#cybersecurity #cyberriskmanagement #cyberregulation
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