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Coingeek: The current draft of the United Nations Cybercrime Treaty will require digital asset companies to implement comprehensive surveillance systems, turn over financial information to governments, and restrict access to unregulated decentralized finance (DeFi).
The National Law Review: On March 15, 2023, the SEC reopened the comment period on proposed rules and amendments related to cybersecurity risk management and cybersecurity-related disclosure for registered investment advisers, registered investment companies and business development companies that were proposed on February 9, 2022.
Forbes: As the number of cyber attacks rises, understanding and assessing cybersecurity measures has become critical. Unfortunately, many companies are still ill-prepared to handle the threat.
The Target: NorthOne Bank, a financial technology company based in the United States.
The Take: Exposure of over 1 million financial records of Personally Identifiable Information including: names, email addresses, physical addresses, phone numbers, amounts paid, due date, and some tax information.
The Vector: A misconfigured database was left open and unsecured with no password, meaning anyone with an internet connection could have viewed and downloaded the PDF documents.
This shows how important authentication controls are and that they be purposefully and smartly deployed with security in mind. Multi-factor authentication and password length and complexity rules on server access are effective strategies to mitigate these kinds of breaches to protect a firm’s data.
Yahoo Finance: The G20's financial watchdog recommended a blueprint for banks to report cyberattacks in a common format in a bid to speed up responses to hacking and limit the fallout on financial stability.
Crunchbase: Although venture funding struggled mightily in the first quarter, funding to cybersecurity startups specifically remained relatively even quarter to quarter — although well below the highs of the past few years. Venture-backed startups in cybersecurity saw nearly $2.7 billion in the first quarter of the year, per Crunchbase data.
Cointelegraph: The Australian government is being pushed to ban the payment of cyber ransoms, usually demanded in cryptocurrency, following a local business suffering a mass data breach and subsequent ransom demand.
Financial Post: Today, CDW Canada, a leading provider of technology solutions and services for Canadian organizations, published findings from its 2023 Penetration Testing Survey to coincide with CDW’s annual National Penetration Testing Day. The research found that more than one-in-three (36 percent) Canadian organizations experienced a security breach in the past year.
Business Wire: BluWave, the business builders’ network for private equity grade needs, released its Q1 BluWave PE Industry Insights Report. The report’s exclusive data provides a unique perspective into how the world’s top businesses are finding and acting on opportunities in this uncertain economy.
CSO: Reporting an incident to the correct authorities or vulnerability clearinghouses can be an experience fraught with frustration. You pour time, energy, and resources into fighting an intrusion, all while keeping company officials and stakeholders up to date and preventing sensitive information from getting into the wild.
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