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Bleeping Computer: March 2023 was the most prolific month recorded by cybersecurity analysts in recent years, measuring 459 attacks, an increase of 91% from the previous month and 62% compared to March 2022.
FundsTech: Global watchdog for the financial services sector, the Financial Stability Board (FSB), has called for greater convergence in the reporting of cyber incidents.
The Guardian: China poses an “epoch-defining” challenge to the west, the head of the National Cyber Security Centre (NCSC) is reportedly to warn. Lindy Cameron, who is the director of the GCHQ arm, will use a speech in Belfast this week to warn the UK and allies of the “dramatic rise of China as a technology superpower”.
US News: The European Commission on Tuesday announced a 1.1-billion-euro ($1.2 billion) plan to counter growing cybersecurity threats, underscoring mounting concerns about a series of high-profile hacking incidents.
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.
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