Connecticut names Arthur House state’s first chief cyber security risk officer

The growing importance of cybersecurity is a national narrative that drills through every tier of government, and Connecticut’s latest hire adds another chapter to that tale.

Gov. Dannel Malloy announced today the immediate hire of Arthur House as chief cyber security risk officer, the first to fill the role for the state. House will be responsible for bridging agencies and sectors to address cybersecurity threats.

“As technology expands into every segment of our lives and creates greater convenience and ease, it also brings a new set of challenges and risks, and that includes essential functions such as our public utility systems. This position … will serve as a leader for the state who will coordinate the work responsible for enhancing Connecticut’s cybersecurity posture, and safeguarding our cyber systems and critical infrastructure in an ever-evolving threat landscape,” Malloy said in a release.  “We want to be a national leader in these efforts, and we are moving forward in a way that will allow us to be prepared for any contingency and safeguard our residents from cybersecurity threats to critical infrastructure.” For the full article click here 

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Regulating New York’s cybersecurity

A regulation recently proposed by Gov. Andrew Cuomo that would require the implementation of a multi-faceted cybersecurity program to protect consumers likely will have a varying level of impact on local financial institutions and insurance companies.

In the regulation — which Cuomo claims is the first of its kind in the nation — banks, insurance companies and other financial service institutions regulated by the state Department of Financial Services must, among other things, adopt a written cybersecurity policy, designate a chief information security officer and develop policies and procedures for dealing with information that is accessible to third-party vendors. “New York, the financial capital of the world, is leading the nation in taking decisive action to protect consumers and our financial system from serious economic harm that is often perpetrated by state-sponsored organizations, global terrorist networks and other criminal enterprises,” Cuomo said in a statement. “This regulation helps guarantee the financial services industry upholds its obligation to protect consumers and ensures that its systems are sufficiently constructed to prevent cyber-attacks to the fullest extent possible.” For the full article click here 

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Boo-boo by Yahoo

Customers must be protected from cybersecurity snafus

Freedom, among other good things, is the right to be left in peace. But with privacy under assault, it’s a right frequently and eagerly trampled. With many of their personal transactions conducted online, Americans are learning that their private business is being vacuumed up without their knowledge. When security breaches occur, victims appeal for government protections only to discover that the feds are spying on them, too. Strong legal barriers to intrusive behavior are urgently needed against prying eyes and ears.

Yahoo is the most recent technology mega-firm exposed as failing to guard the personal information of its customers. The company, headquartered in Silicon Valley and best known for its web portal and search engine, sheepishly informed customers last month that 500 million Yahoo accounts had been hacked.

Most damaging to the customers is the record haul of passwords taken by the thieves, which are even now being run at the speed of light through computer banks at banks, credit card companies and other commercial sites in search of hits that give hackers access to the financial records of Yahoo customers. For the full article click here  

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Bloomington Hosts Cyber Security Summit 2016

Cyber Security Summit 2016 is drawing leaders from around the world to Bloomington this week. It brings together people from the private and public sectors, from the Department of Homeland Security to Security tech company Symantec.

Conference organizer say their goal is to anticipate security attacks and strategize how to prevent, protect and respond to cyber attacks.

“It’s no longer need to know, it’s a need to share information so we can prevent and respond effectively against the many threats that are out there,” UnitedHealth Group’s Elizabeth Stevens said.

Tuesday’s agenda included a debate on privacy vs. security, a keynote address on cyber attacks by the numbers, a discussion on how to respond to a breach, a session on protecting the homeland, and an interactive table top exercise.  For the full article click here 

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Singapore will increase cybersecurity capability as part of new strategy

Singapore’s prime minister Lee Hsien Loong announced the strategy this week during Singapore’s International Cyber Week.

The strategy has been developed by Singapore’s Cyber Security Agency (CSA), which was set up last year. It will have four components, Lee said: strengthening the country’s critical infrastructure; working with businesses and individuals; increasing cybersecurity capabilities; and working with other countries.

“We are investing more to strengthen government systems and networks, especially those handling sensitive data to protect them from cyber attacks. Operators of essential services will have to develop robust cyber risk management frameworks and responses,” Lee said.

One initiative already in place is the separation of internet surfing from other systems such as email in the public service, Lee said. Singaporean government officers can still access the internet, but must do so on a device that is not connected to the internal network. For the full article click here 

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E8 Security, Innovator of Behavior Intelligence for Cybersecurity, Raises $12 Million in Series B Round to Transform Effectiveness of Security Operations

REDWOOD CITY, CA–(Marketwired – October 11, 2016) – E8 Security, an innovator of behavioral intelligence for cybersecurity, today announced that it has closed a $12 million Series B funding round. Strategic Cyber Ventures led the round, bringing total funding to date to $21.8 million. All three Series A investors — March Capital Partners, Allegis Capital, and The Hive — also participated in the round. The new funding will be used for continued innovation of the E8 Security Behavioral Intelligence Platform, as well as to fuel go-to-market and sales execution efforts to support the accelerated demand for the platform’s ability to detect the early warning signs associated with potential compromise or unknown security threats.

“Strategic Cyber Ventures is thrilled to add E8 Security to our growing portfolio of disruptive cybersecurity companies,” said Hank Thomas, Chief Operating Officer at Strategic Cyber Ventures. “Based on our many discussions with E8’s executives and customers and hands-on evaluation of their technology, we’re confident E8 will quickly replace a number of cybersecurity controls currently on the market and enhance others that established security teams rely on today. Strategic Cyber Ventures is honored this group of cybersecurity entrepreneurs, with a product that will revolutionize the industry, chose to join our growing portfolio and partner with our team of experts.”

Adversary success rates, and the vast operational damage ripple-effect, continue to soar at all-time highs across all industries and business types. Organizations have come to the stark realization that the significant shortage of skilled IT security professionals, coupled with reliance upon largely siloed, signature-based methods of threat detection, is no longer acceptable. They are now embracing different approaches that incorporate advances in machine learning for cybersecurity and the significant automation benefits that these technologies create and enable. For the full article click here 

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Singapore urges need to thwart cyberattacks with coordinated local, global efforts

The Singapore government has underscored the need to safeguard critical infrastructures and drive the necessary ecosystem to safeguard the nation’s cyberspace, including pushing ahead with plans to restrict internet access among its employees.

In his opening address Monday at the inaugural Singapore International Cyber Week, Prime Minister Lee Hsien Loong said ICT had enabled the country to develop from a third-world to a first-world economy and continued to play a critical role in its efforts to become a smart nation. However, ICT also opened up new vulnerabilities, introducing cyberthreats and attacks that were increasingly frequent and sophisticated, and resulting in more severe consequences. Lee pointed to the December 2015 attack on Ukraine’s powergrid and and this year’s cyber theft involving Bangladesh Bank, which lost US$81 million. He added that the Singapore government, too, had been a target and had experienced phishing and malware attacks, as well as the defacement of its websites. Government systems also had been compromisedand the financial sector had suffered DDoS attacks, he said. For the full article click here

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