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TechCrunch: The U.S. government and dozens of foreign allies have pledged never to pay ransom demands in a bid to discourage financially motivated hackers and ransomware gangs profiteering from cyberattacks.
Bleeping Computer: The U.S. Federal Trade Commission (FTC) has amended the Safeguards Rules, mandating that all non-banking financial institutions report data breach incidents within 30 days.
The Target: Japanese electronics manufacturer Casio.
The Take: The exposed data includes customer names, email addresses, countries of residence, service usage details, and purchase information such as payment methods, license codes, and order specifics.
The Vector: Casio detected the incident on Wednesday, October 11, 2023, following the failure of a ClassPad database within the company's development environment. Evidence suggests that the attacker accessed customers' personal information a day later, on October 12, 2023.
This breach highlights the extreme importance of timely software updates for known software vulnerabilities, not only in systems directly under a firm’s control, but in third-party systems the firm relies upon as well. The longer a firm, or its vendors, hold out on deploying the most up-to-date software for their systems, the greater the chance an attacker will exploit the issue.
CSO: Whether a specific requirement or not, companies must either educate their board of directors in cybersecurity and risk management or look to recruit directors with specific cybersecurity experience to improve organizations response and decision-making.
Business Wire: The focus of this next vintage will be on seizing European opportunities and supporting companies with significant global B2B scalability potential. It aims to invest ticket sizes ranging from €10 million to €50 million, including reinvestments, thus offering the potential for substantial backing to companies poised to redefine the cybersecurity landscape.
Bleeping Computer: Ransomware activity in September reached unprecedented levels following a relative lull in August that was still way above regular standards for summer months.
TechCrunch: Investments in cybersecurity companies are beginning to turn a corner, seemingly. After a brutal summer, VC funding to security startups saw a slight (12%) uptick from Q3, according to Crunchbase — reaching nearly $1.9 billion compared to $1.7 billion in the second quarter.
The Guardian: Microsoft says it will invest an additional $5 billion in Australia over the next two years to expand hyperscale cloud computing capacity while collaborating with the Australian Signals Directorate (ASD) to boost domestic protection from cyber threats.
CNBC: Okta has shed more than $2 billion from its market valuation since the company disclosed a hack of its support systems. The high-profile incident is the latest in a string of incidents that have been tied to Okta or its products, including a spate of intrusions at casinos that crippled Las Vegas hotel rooms for days.
Chief Investment Officer: Mitigating cybersecurity threats requires organizations to reassess their approach to technical vulnerability, advised an internet security expert and author at the “Cybersecurity Threats and Concerns: An Overview” session of CIO’s Cybersecurity livestream on October 12.
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