By Cameron Abbott and Max Evans
We live in an era where the adoption and use of Artificial Intelligence (AI) is at the forefront of business advancement and social progression. Facial recognition technology software is used or is being piloted to be used across a variety of government sectors, whilst voice recognition assistants are becoming the norm both in personal and business contexts. However, as we have blogged previously on, the AI ‘bandwagon’ inherently comes with legitimate concerns.
This is no different in the banking world. The use of AI-based phishing detection applications has strengthened cybersecurity safeguards for financial institutions, whilst the use of “Robo-Advisers” and voice and language processors has facilitated efficiency by increasing the pace of transactions and reducing service times. However, this appears to sound too good to be true, as according to a Report by CIO Drive, algorithmic lending models may show an unconscious bias.Read More
By Cameron Abbott and Karla Hodgson
This month Microsoft reported that its Threat Intelligence Center discovered that IoT (internet of things) devices – a VOIP phone, a printer and a video decoder – were used to gain access to corporate networks in April.
Microsoft have identified Strontium – also known as Fancy Bear or APT28 – as the culprit, a hacker group associated with the Russian government who appear to be targeting government, IT, military and defence, engineering, medical and education sectors. Strontium has been linked to the hacking of Hillary Clinton’s presidential election campaign and of the email accounts of researchers investigating the missile strike on MH17 and the Skripal poisonings. In the last 12 months alone Microsoft has delivered almost 1,400 notifications to those targeted or compromised by Strontium.Read More
By Cameron Abbott and Karla Hodgson
Remember the time when you first heard about cloud computing and it took you a few moments of quiet contemplation before you wrapped your head around the concept of computing being situated “up there”? Of course today we aren’t surprised to learn that over 80% of enterprise workloads will be in the cloud by next year and that a new wave of cloud-based security as a service (SECaaS) solutions are rolling in to address the forecasted USD $5.2 trillion per year in cybercrime damage that is expected to impact within the next 5 years.
Based on the software as a service (SaaS) model, SECaaS is a cloud-based managed security service that removes the need for businesses to buy and continually upgrade on-premises hardware and software and keep staff upskilled in the ever-shifting world of cybersecurity risk and protection.Read More
The Australian Therapeutic Goods Administration (TGA) has published its guidance framework dealing with medical device cyber security for manufacturers and sponsors of medical devices, as well as for consumers, health professionals and other users. This is driven by a number of challenges that regulators face to protect users against cyber security risks, including the alteration of device function, loss to privacy and the alteration of personal health data.
The crux of the framework is based on the TGA view that knowledge is power, in that patients using connected medical devices should be informed about the potential cyber security risks those devices have, and take proactive measures to protect their devices and networks.Read More
By Cameron Abbott and Rebecca Gill
Unreported data breaches have disrupted several major M&A deals in recent years, such as Marriott International’s merger with the Starwood hotel chain. The growing list of cautionary (and costly) tales appears to be making an impression in the M&A space, as a recent study of IT professionals and business executives by Forescout Technologies has found.
The study queried a total of 2,779 respondents from all over the world, and found that 93% of the respondents viewed cybersecurity evaluations as important to their companies’ M&A decision-making processes. Respondents also ranked a target company’s history of cybersecurity incidents as the second most important factor when performing due diligence on the business, following the company’s financial statements.Read More
By Cameron Abbott and Rebecca Gill
Just a few months ago, we blogged on the ‘Internet of Things’ (or IoT) legislation making an appearance in the US Senate. But now the legislation may be becoming a reality. On Wednesday, the House Committee on Oversight and Reform advanced the Internet of Things Cybersecurity Improvement Act of 2019 to a vote on the House floor.
The bipartisan legislation aims to reduce the risk to critical government information technology infrastructure from cyberattacks, and directs the National Institute of Standards and Technology to develop recommendations for use and management of internet-connected devices by March 31 2020.Read More
It’s Privacy Awareness Week and today’s topic is “data breaches”. With data breaches and responding to cyber attacks becoming an inevitable part of doing business, it’s a timely reminder about the importance of adequately resourcing your IT security areas, and of having comprehensive and well-tested data breach response plans in place, as illustrated by the Fourth Annual Study on The Cyber Resilient Organization (Study), conducted by the Ponemon Institute on behalf of IBM Resilient.
The Study surveyed 3,655 IT and IT security practitioners in 11 countries and regions, including Australia. The results of the Study indicate that a majority of Australian businesses are vulnerable to cyber-attacks due to a lack of skilled personnel and incident response plans.Read More
By Cameron Abbott and Wendy Mansell
Today is Safer Internet Day and K&L Gates is a proud supporter of this yearly international event which raises awareness of cyber issues and online safety concerns.
K&L Gates has a strong focus on promoting and advocating for a safer internet through the Cyber Civil Rights Legal Project. This project helps victims of non-consensual pornography known as ‘revenge porn’ by providing pro bono legal assistance to individuals suffering from these cybercrimes.
Revenge porn is a serious invasion of privacy and K&L Gates assists in having the images removed from the internet. This cyber epidemic is taking place around the world and due to K&L Gates global legal presence, these services can be provided to victims internationally.
K&L Gates further supports Safer Internet Day through the working relationship being built with the Office of the eSafety Commissioner,who is responsible for coordinating the event in Australia.
The theme for this year’s event is “Together for a better internet“, which encourages the development of respect, responsibility, reasoning and resilience skills when using the internet. K&L Gates is actively striving for a better internet through focusing on improving online safety and fighting against cybercrimes.