The Security Byte: Thursday, December 21, 2023

Special Edition Security Byte 🔓

December 21, 2023 • Estimated Reading Time: 7 minutes

Two Russian nationals, Ruslan Aleksandrovich Peretyatko and Andrey Stanislavovich Korinets, were indicted for their involvement in a hacking campaign targeting the U.S. government, military officials, and allies, including the UK, Ukraine, and NATO.

In an era marked by increasing digital threats and vulnerabilities, one would expect a surge in investments and hiring in the cybersecurity sector. However, the recently released ISC2 Cybersecurity Workforce Study paints a different picture.

Hacker groups allegedly affiliated with China’s People’s Liberation Army executed a series of intrusions into essential sectors, including water, power, communications, and transportation systems.

In an era where cyber threats loom large and data security is a top priority, the role of the CISO has never been more crucial. These guardians of the enterprise are not just technical experts; they are strategic visionaries at the forefront of protecting corporate America’s digital assets.

The Hershey Company recently fell victim to a cyberattack resulting in a data breach impacting over 2,200 individuals. The breach provided access to sensitive personal information of impacted individuals, including names, contacts, health details, financial information, government identification numbers, and account credentials.

Amidst a steady drumbeat of security threats, bad actors, and regulations, a recently released 2023 Security Budget Benchmark Summary Report from IANS Research reveals that cybersecurity spending this year experienced only modest increases, a departure from the more generous growth of previous cycles.

Stemming from a 2021 data breach attributed to outdated hardware, this case illustrates a growing trend of governmental bodies holding companies to account for technology practices and appropriation.

In a recent conference presented by the Volatility and Risk Institute at the NYU Stern School of Business and the Treasury’s Federal Insurance Office (FIO), Graham Steele, assistant secretary for financial institutions at the Treasury Department addressed the concept of the US government providing a financial backstop for cyber insurers.

Staples, a well-known American office supply retailer, faced a cybersecurity breach that impacted its internal and customer-facing operations. The attack led to the shutdown of various internal operations, including backend processing and product delivery systems.

The fallout from 23andMe’s recent data breach continues to reverberate, stirring concerns not only about individual data security but also about the broader implications for genetic testing companies and the regulatory landscape. In a follow-up to our original coverage, let’s take a closer look into the evolving narrative surrounding the incident, examining key facets and subsequent developments.

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