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Description:
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In this episode...
- Standard & Poor's Adding Cybersecurity to Ratings
- The headline
- In a report issued this week, the rating agency says it could issue a downgrade before a cyberattack if a bank looked ill-prepared, or following a breach that causes significant damage to a bank's reputation or which leads to substantial monetary losses or legal damages.
- Behind the curve? Stop.
- Michael wrote about it this week - stop calling it gaps…
- 16 questions… good start?
- How long has it typically taken to detect a cyberattack?
- What containment procedures are in place if the bank is breached?
- How many times was the business the target of a high-level attack during the past year, and how far did it reach in the system?
- What's the internal phishing success rate?
- What kind of expertise about cyberattacks exists on the board of directors?
- How much does the bank spend on cybersecurity, what resources does it devote, and what is the total tech budget this year versus last?
- Including security in the ratings - and we’re crying?
- Claim this leads to more insurance… how about that…
- http://www.bankinfosecurity.com/sps-cybersecurity-warning-late-to-game-a-8556
- Crisis Services Top Insurers’ Cyber Claims Payouts; Average Claim at $674K
- This is interesting; and it’s a good data point, too -- in contrast to the “costs” we hear about in briefings all the time.
- Saw other stories that suggested the insurance is going to get jacked… of course they are.
- More insurance, more insight, more claims, more data…. this is all good
- http://www.insurancejournal.com/news/national/2015/10/05/383785.htm
- New California law requires warrants for online data
- Obama administration opts not to force firms to decrypt data (for now)
- Apple removes several apps from store, they could be spying on you
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