![]() ![]() This criterion, established by the National Institute of Standards and Technology (NIST), will require, for example, that devices require unique and strong default passwords, protect both stored and transmitted data, offer regular security updates and ship with incident detection capabilities. Cyber Trust Mark will take the form of a distinct shield logo, which will appear on products that meet established cybersecurity criteria. The Biden administration says its voluntary Energy Star-influenced labeling system will “raise the bar” for IoT security by enabling Americans to make informed decisions about the security credentials of the internet-connected devices they buy. Many devices ship with easy-to-guess default passwords and offer a lack of security regular updates, putting consumers at risk of being hacked. The Internet of Things, a term encompassing everything from fitness trackers and routers to baby monitors and smart refrigerators, has long been considered a weak cybersecurity link. Cyber Trust Mark,” aims to help Americans ensure they are buying internet-connected devices that include strong cybersecurity protections against cyberattacks. The new SEC rule encompasses third-party apps and notes how companies have increasingly relied on outside cloud services for data management and storage.The Biden administration has launched its long-awaited Internet of Things (IoT) cybersecurity labeling program that aims to protect Americans against the myriad security risks associated with internet-connected devices. Many victims of the MOVEit breach were quick to point out that they were failed by a third-party application. ![]() government agencies, more than 9 million motorists in Oregon and Louisiana and companies including the BBC, British Airways, Ernst & Young and PricewaterhouseCoopers. The breach has impacted multiple universities, major pensions funds, U.S. The rule’s passage also comes amid slow-moving, often cryptic disclosures - some through SEC filings - from a major data breach affecting hundreds of organizations caused by the so-called supply chain hack by Russian cybercriminals of a widely used file transfer program, MOVEit. The Ponemon Institute researchers also found that impacted businesses typically pass the costs on to consumers, who may themselves also be victims with personal information stolen in a breach. In a new report published by IBM, researchers found organizations now pay an average of $4.5 million to deal with breaches - a 15% increase over the past three years. While some critical infrastructure operators and all health care providers must by law report breaches, no federal breach disclosure law exists. The rules were first proposed in March 2022, when the SEC determined that breaches of corporate networks posed an escalating risk as their digitization of operations and remote work increased - and the cost to investors from cybersecurity incidents rose. ![]() Now, it’s abundantly clear that corporate leaders must elevate cybersecurity within their organizations,” he said in a statement. companies have treated cybersecurity as a nice-to-have, not a must have. “For a long time, the largest and most powerful U.S. A leading figure in cybersecurity, Tenable CEO Amit Yoran, heartily welcomed the new rule. ![]()
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