Page 29 - Cyber Warnings

In December 2016, a year after that law went into effect, the Obama administration’s
Commission on Enhancing National Cybersecurity released its “Report on Securing and
Growing the Digital Economy”. It identifies cybersecurity gaps and how to address them.

But those problems and prescriptions are pretty general. For example, it talks about the need for
collaboration between the federal government and the private sector. It suggests the next
administration should develop concrete efforts to strengthen the cybersecurity of small and
medium-sized businesses.

Now the incoming administration has the opportunity to add some meat to these bones. And it
should probably start work on that sooner rather than later. Business leaders and their teams
should do the same.

Here’s why.

Getting a head start on cyber

Forrester predicts that within 100 days the new U.S. president will face a major cybercrisis. In its
October 2016 paper “2017 Predictions: Dynamics That Will Shape The Future In The Age of the
Customer”, the research and consulting firm also says that this year a Fortune 1000 company
will fail because of a cyberbreach. Ed Amoroso, AT&T’s recently retired chief security officer,
late last year offered a similarly dire prediction.

“I believe that during the next presidential administration, we are going to see a massive
cyberattack on infrastructure,” said Amoroso. “I believe it is going to be of devastating
proportions, and I think we are not ready for it.” Part of the problem is the lack of laws and
regulations on this front. But cyberattacks have become high visibility events. That, and the fact
that moving forward cybersecurity legislation could help politicians move forward their careers in
the process, indicates there’s likely to be much more concrete action on the cybersecurity
regulatory front in the near future.

Cyber laws in 2017

Such laws are already in the works or have been enacted in Australia and Europe, as well as at
the state level in the U.S.

Australia has developed a national strategy through which government and the private sector
are working together to address cybersecurity. Last year it issued a white paper describing
major risks and initiatives on this front. And a few years ago it created the Australian Cyber
Security Centre, an initiative to make the country’s networks harder to compromise.

Last summer the European Union approved cybersecurity rules that

29 Cyber Warnings E-Magazine – March 2017 Edition
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