Feds to Microsoft: Clean up your security act — or else

The US government, worried about the continuing growth of cybercrime, ransomware, and countries including Russia, Iran, and North Korea hacking into government and private networks, is in the middle of drastically changing its cybersecurity strategy. No longer will it rely largely on prodding businesses and tech companies to voluntarily take basic security measures such as patching vulnerable systems to keep them updated.

Instead, it now wants to establish baseline security requirements for businesses and tech companies and to fine those that don’t comply.

It’s not just companies that use the systems who might eventually need to abide by the regulations. Companies that make and sell them, such as Microsoft, Apple, and others could be held accountable as well. Early indications are that the feds already have Microsoft in their crosshairs — they’ve warned the company that, at the moment, it doesn’t appear to be up to the task.

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National Cybersecurity Strategy Document: What you need to know

Categories: News

Tags: whitehouse

Tags: biden

Tags: national cybersecurity document

Tags: federal

Tags: government

Tags: data

Tags: privacy

Tags: security

The US Government has been working on the National Cybersecurity Strategy Document 2023 for some time now, and it’s finally been released.

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The post National Cybersecurity Strategy Document: What you need to know appeared first on Malwarebytes Labs.

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Maybe one day every platform will be as secure as Apple

A look at the Biden Administration’s recently updated National Cybersecurity Strategy document seems to reflect some of the approaches to cybercrime Apple already employs. 

Take privacy, for example. The proposal suggests that privacy protection will no longer be something big tech can argue against – companies will be required to prioritize privacy. That’s fine if you run a business that does not require wholesale collection and analysis of user information, which has always been Apple’s approach. The best way to keep information private, the company argues, is not to collect it at all.

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A compliance fight in Germany could hurt Microsoft customers

Credit to Author: eschuman@thecontentfirm.com| Date: Wed, 07 Dec 2022 04:32:00 -0800

If there are two things that should never mix, it’s cybersecurity/privacy compliance and corporate politics. And yet, that’s at the heart of a compliance fight between Microsoft and German authorities that might wind up punishing the company’s customers. 

The German Datenschutzkonferenz — the regulatory body entrusted to handle Germany’s flavor of the European Union’s General Data Protection Regulation (GDPR) — has publicly declared that “no data protection-compliant use of Microsoft Office 365 was possible.”

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Why in an age of uncertainty trust is key to building business resilience

Credit to Author: Hervé Coureil| Date: Mon, 14 Nov 2022 17:00:51 +0000

As climate change, digital disruption and geopolitical instability pose increasingly interconnected and unpredictable forms of business risk, trust is more fundamental than ever in building resilience Trust is one of… Read more »

The post Why in an age of uncertainty trust is key to building business resilience appeared first on Schneider Electric Blog.

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Would a US digital dollar let the government track you?

US legislators continue to press for the creation of a digital dollar, raising questions about whether the move could make it easy for the federal government to track business and consumer transactions.

Putting all the digital dollars on one electronic ledger operated by the Federal Reserve would also be a tempting target for cyber criminals.

In March, lawmakers introduced a bill that would allow the US Treasury to create a digital dollar and pilot it to determine its viability. That same month, President Joe Biden called for more research on developing a national digital currency through the nation’s central bank. The order highlighted the need for more regulatory oversight of cryptocurrencies, which have been used for nefarious purposes such as money laundering and other criminal activities.

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16 Wall Street firms fined $1.8B for using private text apps, lying about it

The US Securities and Exchange Commission (SEC) has fined big-name banks and brokerages a collective $1.8 billion over workers’ use of private texting apps to discuss work and for not always saving those messages. The fines include $1.1 billion assessed by the SEC and a $710 million fine from the Commodity Futures Trading Commission (CFTC).

The SEC investigation uncovered what the agency called “pervasive off-channel communications,” that were collected by the firms themselves from employee devices. The employees included senior and junior investment bankers and debt and equity traders.

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