Cybersecurity News

Cyber Port Authority
When you think of U.S. ports, images of ships and maritime commerce may be top of mind. Yet, while the U.S. Coast Guard takes the lead on protecting these coastal facilities, the federal agency doesn’t have the cybersecurity authority to protect and defend against potentially economy-crippling cyber attacks.

“The potential consequences of even a minimal disruption of the flow of goods in U.S. ports would be high,” the Brookings Institute wrote in a new report. “The zero-inventory, just-in-time delivery system that sustains the flow of U.S. commerce would grind to a halt in a matter of days; shelves at grocery stores and gas tanks at service stations would run empty.” Read Brookings’ recommendations for smooth cyber sailing here.

$46B for Secure Critical Infrastructure
Ports aren’t the only critical infrastructure in need of enhanced cybersecurity. The power grid, oil and gas, water supply management and a number of other critical components to any developed nation’s economy are in jeopardy being hit by cyber espionage, cyber crime and cyber terrorism.

To combat cyber vulnerabilities, $46 billion will be spent globally by the end of the year, according to a study from ABI Research. “The drivers for the market in related products and services are numerous, but in large part many will be propelled by national cybersecurity strategies and policies,” stated the report. Read more from ABI here.

Wall Street Prepares for Attack
While $46 billion may sound like a lot, Wall Street has much more to lose. That’s why the Securities Industry and Financial Markets Association conducted a drill last week to gauge how the financial markets might stack up against a cyber attack.

Dubbed Quantum Dawn 2, the drill was carried out by over 500 individuals from 50 financial service organizations as well as U.S. government agencies. According to Business Technology, the mock cyber attack was deemed a “success.”

Another DHS Departure
The DHS may be feeling more shortchanged than successful lately, as Janet Napolitano isn’t the only official moving on from the agency. According to reports, Bruce McConnell, acting deputy undersecretary for cybersecurity, is planning to retire next month.

McConnell will be the third DHS cybersecurity official to resign this year. In April, Mark Weatherford, who served as deputy under secretary for cybersecurity, left the agency. Michael Locatis, then-assistant secretary of the Office of Cybersecurity and Communications, left DHS in January.

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Following are some additional cyber headlines you may have missed:

FEDERAL NEWS:

Officials testify on cyber order progress (FCW)

Coast Guard cyber unit fights for secure network (Navy Times)

Despite sequestration, cybersecurity funding growing (Washington Post)

NIST proposes first federally funded cyber research center (Federal News Radio)

For NSA chief, terrorist threat drives passion to ‘collect it all,’ observers say (The Washington Post)

INDUSTRY OVERVIEW:

Huawei cyber center under UK review (AFP)

Symantec expanding in Dublin (Irish Independent)

CyberFlow Analytics raises $2M for cybersecurity efforts (Social Tech)

Cybersecurity firm Cylance works to read hackers’ minds (Los Angeles Times)

Dell researchers: Hackers selling off plundered information to criminals (V3.co)

INTERNATIONAL  OUTLOOK:

India trains police to fight cybercrime (ZDNet)

North Korea ‘behind cyber attack’ on South websites (BBC)

UN warns on mobile cybersecurity bugs in bid to prevent attacks (Reuters)

More than one-fifth of UK firms hit by DDoS attacks in 2012 (Computer Weekly)

Cybersecurity in Canadian private sector a ‘significant’ problem (The Canadian Press)

Chancellor Merkel urges Europe to tighten Internet safeguards (The New York Times)

Experts say Japan’s new cyber defense unit lacking skills, manpower (Japan Daily Press)

HACKING HIGHLIGHTS:

5 ways hackers attack you and how to combat them (USA Today)

Universities face a rising barrage of cyber attacks (The New York Times)

CYBER INSIGHTS:

Cyberwar is reality world must fight: UN official (Global Post)

Employees are the biggest threat to cyber security, says report (Computing)

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This report is also available on ClearanceJobs.com at: http://news.clearancejobs.com/2013/07/22/critical-infrastructure-and-cyber-resignations-cybersecurity-news-round-up/