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Cybersecurity Incidents

All articles tagged with #cybersecurity incidents

business2 years ago•4 min saved

"SEC's New Cybersecurity Disclosure Rules: What CFOs and Companies Need to Know"

The U.S. Securities and Exchange Commission's new rule requiring publicly traded companies to disclose "material" cybersecurity incidents has gone into effect. The rule aims to provide investors with consistent and timely information on potential risks. However, the rule has faced criticism from industry, Republican lawmakers, and cybersecurity experts who argue that the disclosure time is too quick, it could endanger national security, and it duplicates existing regulations. Critics also believe that the rule places more liability pressure on Chief Information Security Officers (CISOs). The rule complements the Cybersecurity and Infrastructure Security Agency's (CISA) rulemaking, which requires critical infrastructure owners and operators to report major cyber incidents.

via CyberScoop|

#business #cisos #criticism

cybersecurity2 years ago•2 min saved

Ransomware Gangs Turn to SEC Reporting as a New Tactic

ALPHV/BlackCat's recent move to report a ransomware case to the SEC may become the new normal in the ransomware economy, as the SEC's new disclosure ruling requires companies to report "material" cybersecurity incidents within four days. While some argue that this aggressive move could draw unwanted attention from law enforcement, it is likely that the SEC is already monitoring dark web exposure sites. It is important for organizations to prepare in advance for ransomware attacks by identifying critical systems and building resiliency into them, as 90% of organizations have experienced at least one ransomware attack in the last two years.

via SC Media|

#alphvblackcat #cybercriminals #cybersecurity