Something potentially groundbreaking is happening in New York, and its impact is being felt globally. Still, if you’re not in the financial services industry, and specifically regulated by the New York State Department of Financial Services (NYDFS), you may have missed it. What is this change? In short, it’s the first of what may become a wave of stringent state cybersecurity regulations that impose “minimum standards” on industry.
Firms supplying essential services, e.g. for energy, transport, banking and health, or digital ones, such as search engines and cloud services, will have to improve their ability to withstand cyberattacks under the first EU-wide rules on cybersecurity.
Only about half of all countries have a cybersecurity strategy or are in the process of developing one, the International Telecommunication Union reported in its second Global Cybersecurity Index.
China is to use quantum cryptography to create an “unhackable” communications network. Using the network, some 200 users from the military, government, finance and electricity sectors will be able to send messages without the concern that others may be able to read them.
Hospitals in the UK are to be given £21 million to improve data and cybersecurity, taking the current level of government investment in this area to over £50 million. The £21 million cash injection follows a review into hospital cybersecurity, and it will be directed to the UK’s 27 major trauma centers including those that dealt with the aftermaths of recent terrorist attacks in Manchester and London.
Until the massive U.S. Target store credit and debit card data breach in 2013, the lasting impact of cybercrimes was a relatively unknown experience to most consumers, and it wasn’t on the top list of HR onboarding topics either.
Many of those with demanding jobs know that even when on vacation they must remain connected to the world in more ways than one to answer emails and handle important business matters. With the increased use, online services by these traveling professionals, especially in unknown territory, those traveling can quickly become a target of cyber criminals and hackers.