Call us now:
Bringing it out into the open. The role that nation state threat actors play in cyber attacks and the threat that cyber poses to national security. That is going to be a double edge sword. On one edge the public and private sector needs to have the veil of secrecy removed from cybersecurity and cyber attacks.
Fancy Bear – Russian Intelligence officers.
Volt Typhoon – Chinese Military.
Lazarus – North Korean Government.
Charming Kitten – Iranian Revolutionary Guard Affiliate.
Cyber needs to be treated as the threat to national and economic security that it is. Public and private sector leaders need to be made aware that many cyber threats at the end of the copper cable have their roots firmly fixed in nation states, that may be working with proxies and cyber criminals.
On the other edge, we may just open up a ‘whole can of whoop ass’ for the cyber insurance industry. That moved to introduce exclusion clauses for cyber attacks by nation state threat actors. The insurance industry sees the rise in of cyber attacks, and while it may have capacity today, the industry wants to grow the market. There’s a significant coverage gap, 87% of companies are under protected, and coverage gaps between the full cost of cyber attack remediation and cyber insurance.
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What happens to cyber insurance if Microsoft and Crowdstrike rightly highlight that a cyber attack originates from a nation state threat actor?
While those EU companies governed by EU NIS 2 and DORA cyber regulation will be able to demonstrate that they have been attacked by a nation state threat actor. What steps can they take economically to defend themselves against such attacks.
Cybersecurity risk management has to move ‘left of bang’, be that because cyber regulation forces it to. Or cyber insurance contracts require covered companies demonstrate some level of cybersecurity risk management. That market forces have yet to provide.
@Thaddeus Dziekanowski Brian D. McCarthy Faisal Khan
Veritas GRC Jen Easterly Ciaran Martin
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