The enclosed hearing by the House Sub Committee on Energy and Commerce on the recent United Healthcare cyber attack is worth a quick review. Sub Committee members spent 3 hours asked questions of industry representatives. The hearing highlighted the substantial…
There are 1.6 billion reasons to care about cybersecurity. One suspects that while the attack may not be material to United health by virtue of its earnings, and balance sheet it will have an effect on the companies reputation and…
Thanks for posting Olaf Classen. As you rightly say this is a great article that discusses the effect of cybersecurity regulation on Global Automotive manufacturers. Regulation that requires manufacturers to implement a cybersecurity management system and software update management system.…
Adopting the principles of the three Line of Defense (3 LoD) is an important step to cybersecurity risk management regulatory compliance. The 3 LoD model was developed by the The Institute of Internal Auditors Inc. and adopted by many regulators,…
Cisco Duo was breached earlier this month after employee credentials in a third party supplier were compromised, following a social engineering hack. () Demonstrating the effects of cyber attacks against third party suppliers, the effectiveness of social engineering and don’t…
MGM is suing the Federal Trade Commission (FTC) and its chair Lina Khan, following the launch by the FTC of a probe into MGMs 2023 cyber attack. The court documents claiming that the FTC chair has what can only be…
The Prime Minister of Vietnam, Pham Minh Chinh, has issued a directive, urging ministries, sectoral bodies and local government agencies to conduct a thorough review of the country’s cybersecurity landscape. It is estimated that Vietnam lost VND17.3 trillion (USD716 million)…
A great read for a Sunday afternoon, The Ransomware and Financial Stability Act 2024, that was put before congress this month. This is an important Bill if passed. It will have a significant effect on ransomware payments of covered financial…
The convergence of cyber security risk management regulation continues, as covered entities are required to submit annual notices of compliance to amendments to NYDFS part 500 of 23 NYCRR 500. Covered entities are required to submit a notice of compliance…
The PCAOB issued further civil penalties and barred senior leaders at KPMG and Deloitte this week over exam cheating, an issue the PCAOB has been dealing with for several years. Fining KPMG Netherlands $25 million and barring its former head…
