Ted Dziekanowski this is a timely and important document for Financial Institutions. The Financial Stability Institute (FSI) of the Bank of International Settlements (BIS), an international institution owned by member central banks. Has released a regulatory oversight framework for managing…
Australia is looking to move ahead with ‘Right of Bang’. Implementing an incident review board to capture lessons learnt and feed that back into the proactive action to address Australia’s cybersecurity. Ted Dziekanowski Brian D. McCarthy Rachel V. Rose, JD,…
An unfortunate consequence of a cyber attacks can be the departure of the CISO. As is the case with the recent Clorox Hack. One wonders the role that other members of the board played in the oversight and assurance of…
An interesting thought, what do you do then the hackers are threatening to tell the markets about your vulnerabilities. ‘Give us more money or we will squeal’ to everyone about the vulnerabilities we just exploited. Something they already threaten to…
As discussed previously, those defense contractors effected by DFARS 7012 from December 2017 and effected by the SEC final cyber rule. (Including subcontractors). May consider the recent SEC charges against SolarWinds. The DoD required contractor to submit their NIST 171…
As we discussed when the SEC final rule was made public, covered entities will not be in control of all communications to the markets. Hacked companies could find that control over cyber incident communications that face the outside world, are…
Well worth a read. The Australian Governments Signals Directorate threat report 2023 is a timely reminder of the challenges that are being faced by the country and remedial actions taken in 2023 to recommend, regulate and protect Australia’s infrastructure. In…
The MGM and Casers hacks was well publicised over the summer, causing $100million to MGM, a $15 million ransomware payment by Caesars and regulatory reporting. However could the hackers be more home grown than international, as the hackers were ‘known’…
For the Securities and Exchange Commission(SEC) 2023 has been a busy year, pushing through controversial legislation least of all for cybersecurity. It has also been a profitable year as the SEC enforcement division. The SEC obtained orders for nearly $5…
Cyber reinsurance market is still attractive despite ransomware attacks up 176% in Q2 2023 over the same period in 2022. While attack frequency has increased claims frequency has not. Are we seeing more self-insurance? Pricing in 2023 was 2.5x times…
