• Malware imported into U.S. on foreign-made components

    A high level DHS official acknowledged that malware built into imported electronic components sold in the United States poses a serious threat to U.S. economy and security; he also said it was a complex threat which the federal government has been trying to address in different ways; Greg Schaffer, acting deputy undersecretary for the National Protection and Programs Directorate at DHS, said the threat is “one of the most complicated and difficult challenges we have”

  • Cybercrime statistics wildly inaccurate, says researcher

    A cybersecurity researcher is questioning the various statistics that government officials and IT companies use as evidence of the rampant and deleterious effects of hackers; Cormac Herley, a principal researcher at Microsoft Research, argues that the existing data on the estimated losses from cyberattacks is wildly inaccurate to the point that analysts have no idea what the problem’s economic impacts are; one expert, noting that estimates of the annual cost of cybercrime range from $560 million to $100 billion to $1 trillion, asks: “How can this be? How can you have estimates of the same problem ranging across three orders of magnitude?”

  • Cyberattacks spark cyber insurance boom

    The recent spate of high profile cyberattacks on major corporations has sparked a rush for cyber security insurance; with companies and even local governments seeking financial protection from costly cyberattacks, insurance companies and analysts say demand has increased dramatically of late; some large companies have even taken out insurance policies worth as much as $200 million; local governments like Flathead County, Montana have also purchased cyber insurance

  • Study finds nearly 90 percent of businesses victim of cyber attacks

    A recent survey of information technology (IT) security professionals reveals that cyberattacks are on the rise and businesses have had difficulty defending their networks; 84 percent admitted to having been the victim of a cyber attack; these attacks have been costly causing a majority of companies an estimated $500,000 or more in lost revenues, cash outlays, business disruptions, and other expenses

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  • Imation acquires MXI Security

    The cost of data breaches continues to rise annually, with the average organizational cost of a breach reaching $7.2 million in 2010; by 2014, the market for secure data solutions — protecting against data loss, theft, or breach — specifically designed to address secure portable storage, digital identity, and secure portable computing is expected to reach more than $4.5 billion; Imation, a major player in the field of secure data, further strengthens its offerings by acquiring the assets of MXI Security; the move is a continuation of Imation’s strategy of investing in key technology platforms to meet customers’ needs

  • Government launches cybersecurity plan

    Last week the Obama administration unveiled its plan to secure federal computer networks, critical industries, and consumers from cyberattacks; under the proposed plan, DHS will lead government efforts to secure networks with “primary responsibility within the executive branch for information security” ; DHS would also be empowered to set policies and activities for government systems; the plan would require critical infrastructure operators like electric companies and large financial firms to present cybersecurity plans to DHS for approval; DHS auditors would review the plans with the operators, discuss any shortcomings and “take other action as may be determined appropriate”

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  • IT organization surveys potential insider-threats

    Employees are being overloaded with passwords; 10 percent of IT professionals are still able to access accounts from a prior job; 52 percent of employees admit that they have shared their work log-ins and passwords with other co-workers, and vice versa

  • NEC releases software that configures access policy automatically

    NEC Corporation announced the development of technology that collectively distributes and configures access policy to a variety of computing resources in a cloud computing environment; the newly-developed technology helps to reduce operation costs and to improve security

  • Google Apps more secure with two-step verification

    More and more companies are migrating their e-mail and other cloud services over to Google Apps — but the doubts about whether making such a transition would put company security at risk linger; now the company is doing something about it: Google announced early Monday the availability of two-step verification, a more secure way for Google Apps users to sign into their accounts

  • MI5: Cyber espionage on the rise, but can be easily beaten

    MI5 says the Internet has made the threat of espionage by foreign countries higher than ever before, but insisted it is “relatively straightforward” to block attempts to steal data; MI5 has previously written to the bosses of big British companies to warn them of the threat online, particularly from hackers with links to the Chinese intelligence services

  • Vulnerable IT infrastructure means loss of revenue

    Europeans businesses are losing approximately 17 billion Euros a year in revenue owing to IT disruptions; on average, European businesses suffer IT failures lasting an average of fourteen hours per company a year, amounting to nearly one million hours of down-time costs

  • The most pressing cybersecurity issue

    According to Red Hat’s Gunnar Hellekson the most pressing cybersecurity issue is “the threat that comes from our reactions to real and perceived threats…I see this growing ‘Fortress America’ movement around computer security and the security of the software-supply chain”

  • HP to buy security software company ArcSight for $1.5 billion

    Hewlett-Packard agreed to buy security software company ArcSight for $1.5 billion; ArcSight’s software helps companies protect their digital assets from cyber attacks and fraud, and aids in regulatory compliance. While many analysts said HP overpaid, they also said the deal fits with its broader enterprise strategy. Some, though, questioned the company’s financial discipline; the deal is the latest in a rash of consolidation in the security technology sector; last month, Intel Corp agreed to buy McAfee for $7.7 billion, and in May, Symantec Corp bought Verisign Inc.’s payment authentication unit for about $1.3 billion

  • Cloud computing addressing security issues

    With cloud improvements such as Google’s “sharding” — the dividing of an individual file among hundreds of systems to prevent someone from gaining a useful amount of information out of individual documents — being implemented and followed closely by competing providers, security and accessibility will become cloud facets continually improved upon

  • U.S. nuclear power plants bolster defenses against cyberattacks

    The threat to digital systems at the U.S. nuclear power plants is considerable — especially for new nuclear power facilities that would be built in the United States and throughout the world, as control rooms would employ digital systems to operate the plants; these state-of-the-art instruments and systems make them targets for hackers