Wall Street Is Worried About Tom Clancy Scenario

The Securities Industry and Financial Markets Association (SIFMA), an industry trade group for banks securities firms and asset managers, is worried about catastrophic attacks against their members, Bloomberg reported today. Bloomberg reports on an internal document they have seen, stating: “The document sketches an unusually frank and pessimistic view by the industry of its readiness for…

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Senate Intelligence Committee Approves Cybersecurity Bill

The Senate Intelligence Committee approved a cybersecurity bill on Tuesday which is intended to help companies and government agencies defend against cyber-attackers. The Cybersecurity Information Sharing Act would make it easier for businesses and governments to share information with each other about cyberattacks. Businesses have previously shied away from formal and informal information sharing because…

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Google Blocks Access to Confidential Goldman Sachs Email Mistakenly Sent to Gmail

Google has blocked access to a confidential Goldman Sachs email that was sent by mistake to a Gmail address. The financial company is now seeking a second court order to delete the message altogether from Google servers. An external consultant was testing changes to an internal reporting and validation process and intended to send the…

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Do Increasing Worries About Insider Threats Mean it is Time to Take Another Look at DRM?

The encryption vendor SafeNet publishes a Breach Level Index that records actual reported incidents of data loss. Whilst the number of losses attributed to malicious outsiders (58%) exceeds those attributed to malicious insiders (13%), SafeNet claims that insiders account for more than half of the actual information lost. This is because insiders will also be…

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PayPal Apparently Enforcing Non-existent Laws

According to one of the founders of ProtonMail, a secure email startup, PayPal had suspended their account. A PayPal representative reportedly questioned the legality of an encrypted email solution. ProtonMail is hosted in Switzerland specifically to provide assurances to users that there is no legal jurisdiction for the US to interfere with it, as it…

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Are Former Government Cyber Experts Worth Their Consulting Fees?

Congressman Alan Grayson made waves last week when he sent letters to the Securities Industry and Financial Markets Association(SIFMA), the Consumer Bankers Association, and the Financial Services Roundtable assailing former head of the NSA, Keith Alexander. In each letter Grayson cited a Bloomberg article that revealed that Alexander’s new consulting firm was commanding hefty fees…

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Florida Governor Signs Nation’s Toughest Data Breach Law

Florida Governor Rick Scott signed into a law what may be the nation’s broadest and stringent data breach law. The Florida Information Protection of 2014, which was signed last week, requires companies to take “reasonable measures” to protect and secure personally identifying information in electronic form. The new law also increases companies’ reporting and disclosure…

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