New York state's Department of Financial Services is enforcing minimum cybersecurity standards by which all banks and other financial services firms that it regulates must abide. Think of the new regulation "as a playbook or a guidepost," says cybersecurity attorney Paul Ferrillo.
Equifax ex-CEO Richard Smith asserts that a single employee's failure to heed a security alert led to the company failing to install a patch on a critical system, which was subsequently exploited by hackers. But his claim calls into question whether poor patch practices and management failures were the norm.
At the first of three Congressional hearings slated this week to examine the Equifax mega-breach, one Republican said of the company's delay in detecting the breach: "It's like the guards of Fort Knox forgot to lock the doors and failed to notice the thieves were emptying the vaults."
The latest edition of the ISMG Security Report is devoted to a special report on how enterprises around the world should prepare for the European Union's General Data Protection Regulation, which starts being enforced in May.
Leading the latest edition of the ISMG Security Report: an interview with NIST's Ron Ross about revised guidance on how to get C-suite executives to help shape information risk management. Also, DHS, FBI leaders outline goals for protecting the U.S. election system.
New York state's financial regulator has reportedly subpoenaed Equifax - in the wake of it suffering a breach affecting 143 million U.S. consumers - seeking extensive documentation, including when and how the credit-reporting agency discovered the breach and responded.
It's the age of "open banking," and that means changes for banking institutions and their customers - as well as for the fraudsters. Shaked Vax of IBM Security Trusteer talks about new vulnerabilities and anti-fraud strategies.
Organizations that must comply with Europe's GDPR need to identify gaps in their ability to meet various requirements, including making prompt breach notifications and gaining consumers' consent to store their data, says Sunil Chand of Grant Thornton.
Freedom of Information requests sent to 430 U.K. local government councils by Barracuda Networks found that at least 27 percent of councils have suffered ransomware outbreaks. Thankfully, almost none have paid ransoms, and good backup practices appear widespread.
In North America, many organizations mistakenly believe the European Union's General Data Protection Regulation won't impact them, says Robert Mills of the Information Security Forum. "If they are multinational and holding EU data, it does apply to them," he points out.
Information security professionals to the U.S. government: Please put up or shut up over Moscow-based cybersecurity firm Kaspersky Lab, by either showing evidence that others can independently judge, or else dropping your vague insinuations.
Equifax is facing increased scrutiny from Congress, including a bill that would mandate free credit freezes for consumers, on demand. But a true fix would require Congress to give U.S. government consumer watchdogs more power.
What do you do if you're the CEO of a credit bureau that's suffered a massive breach, leading to Congressional probes, dozens of lawsuits, formal investigations by state attorneys general and calls for your resignation? Answer: Issue an apology via USA Today.