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A great report from the Congressional Research Service, informing US legislators. The report details the different cyber incident reporting legislation introduced in the past 3 months and making its way through Congress. Specifically:
1. H.R. 5440, the Cyber Incident Reporting for Critical Infrastructure Act of 2021 (as introduced) – September 2021
2. S. 2407, the Cyber Incident Notification Act of 2021 (as introduced) – July 2021
3. S. 2875, the Cyber Incident Reporting Act of 2021 (as introduced) – September 2021
4. S. 2943, the Ransom Disclosure Act (as introduced) – October 2021.
It is important to pay attention to the speed that these Bills have been introduced (albeit they may get glued-up in the current congressional voting program) and the direction they are taking. Table 1 lays out the 4 Bills, their scope and sets out (if passed) the powers delegated to DHS to put in place the capability and requirements for cyber incident reporting. Entities that include Critical Infrastructure providers, cloud service providers and scope for expansion.
Bill S. 2943 introduces enforcement legislation related to ransomware payments and penalties for failing to disclose ransomware attacks by certain entities to DHS. In my view when aligned with the recent Department of Treasury advisory update to OFAC and ransomware payments, should be considered carefully by organisations that suffer from a ransomware cyber-attack.
The US cyber legislative agenda in moving at pace.
Ted Dziekanowski Jason Spezzano Brian McCarthy
#ransomware‚Â #fisma‚Â #ofac‚Â #theaugustagroup‚Â #theaugustaplan‚Â #cybersecurity‚Â #supplychainriskmanagement‚Â #cyberriskmanagement‚Â #compliance‚Â #regulatorycompliance‚Â #regulatoryoversight‚Â #esg‚Â #scrm‚Â #cscrm‚Â #fca‚Â #cybercompliance‚Â #cyberregulation‚Â #cybergovernance‚Â #falseclaimsact‚Â #SDLC‚Â #cyberregulation‚Â #cyberinsurance #OFAC #DHS
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