SALES, RENTALS & LAYAWAYS

PROTECTING EVERYTHING THAT HAS EVER BEEN OF VALUE TO YOU

Open 24/7/365

We Have A Life-Time Warranty /
Guarantee On All Products. (Includes Parts And Labor)

Biden Proposes Billions For Cybersecurity After Wave of Attacks

President Joe Biden’s infrastructure proposal includes billions of dollars tied to improving cybersecurity, an area of intensified interest after the ransomware attack on the Colonial Pipeline Co. sent U.S. gasoline prices soaring last week. Biden Proposes Billions For Cybersecurity After Wave of Attacks

But the exact amount that will be spent on improving cyber defenses remains to be seen.

The $2 trillion American Jobs Plan, as the infrastructure proposal is known, includes $20 billion for state, local and tribal governments to modernize their energy systems contingent upon meeting cybersecurity standards, as well as $2 billion for grid resilience in high-risk areas that will be contingent on meeting cybersecurity targets, the White House said in a fact sheet obtained by Bloomberg News ahead of its release Tuesday.

Biden Proposes Billions For Cybersecurity After Wave of Attacks

The administration is also characterizing the plan’s call for $100 billion for high-speed broadband access as part of its wider security effort, since grant recipients will be asked to source from “trusted vendors” and implement cybersecurity measures. In addition, the plan lays out a new tax credit for transmission infrastructure that the administration believes will encourage stronger cyber capabilities.

The White House is negotiating with a group of Senate Republicans on an infrastructure bill that would include much of Biden’s proposal, with a counter-proposal expected from the senators on Tuesday. The original infrastructure plan, which was released at the end of March, doesn’t mention the need for cybersecurity spending.

Administration officials, speaking on the condition of anonymity to preview the outline of cybersecurity proposals, stressed that the jobs plan proposals are just one part of a broader effort to elevate cyber issues across the federal government. “Cybersecurity is one of the preeminent challenges of our time, which is why President Biden has made strengthening U.S. cybersecurity capabilities a top priority,” the White House said in the fact sheet.

Biden signed an executive order on May 12 intended to improve the federal government’s information sharing about cyberattacks with the private sector while adopting better safety practices throughout the government. The order is intended to help the U.S. respond more swiftly to attacks on both public and private infrastructure.

Biden’s fiscal 2022 budget blueprint, released last month, included $2.1 billion for the Cybersecurity and Infrastructure Security Agency, $110 million more than its funding for 2021. The American Rescue Plan, signed by Biden in March, authorized an additional $1.65 billion for cybersecurity efforts.

Biden Proposes Billions For Cybersecurity After Wave of Attacks
That includes $1 billion for the federal government’s Technology Modernization Fund, which will go toward immediate security upgrades and a shift to a secure cloud infrastructure, and $650 million for CISA to improve its response capabilities and to upgrade its ability to support security projects at federal departments and agencies.

The Colonial attack is the latest in a series of devastating hacks against American government agencies, businesses and health facilities. They include a cyber-attack by Russian hackers that targeted software updates in Texas-based SolarWinds Corp., which were then received by some of its customers. In all, nine government agencies and about 100 companies were infiltrated by the Russian hackers, using the SolarWinds’s backdoor and other methods.

The pipeline ransomware attack came after the Biden administration had announced several initiatives to try to curb ransomware, a type of attack in which hackers encrypt computer files and demand payment to restore access. The number of ransomware attacks has been growing in recent years and the targets have included hospitals, schools, businesses and police departments. The Colonial attack was attributed to a group called DarkSide. Biden and cybersecurity experts said there is some evidence linking the group to Russia.

The Biden administration began a 100-day effort in April to improve the cybersecurity of electric utilities’ industrial control systems. It plans to move on to natural gas, water supply and chemical pipelines, Biden said last week as he responded to the Colonial crisis.

Hackers Kept Busy During Covid Stealing 774 Million Records in Major Breaches

Colonial Pipeline. Microsoft Exchange. SolarWinds. More and more companies in the U.S. and around the world fall prey to cyberattackers, a trend driven in part by the proliferation of internet-connected devices and the low barriers for entry for would-be hackers, since ransomware and other types of malicious software are available for sale on the dark web.

In addition, the pandemic has facilitated hackers’ efforts, as employees have transitioned to working from their homes, which tend to be less secure than the office, and spend more time than ever on the internet. So-called “phishing” is one of the most frequently used mechanisms for hackers to deliver their attacks, usually through emails laced with malicious code in attachments or links.

Among the preferred types of attack for threat actors is now ransomware—a type of malware that attackers use to lock up files—according to a recent report by the Identity Theft Resource Center. Ransomware can generate big payouts, as the Colonial Pipeline incident earlier this month showed. On the other hand, cybercrimes where hackers exfiltrate an entire database they hope they can later sell declined 19% in 2020 compared with the year before, according to ITRC.

But it’s not just criminal hackers. In the last year, hacking teams tied to nation-states have attempted to breach vaccine makers, government agencies, even cybersecurity companies.

Most hacking attempts fail and some that succeed are relatively minor. But some hacks have exposed personal identifiable information of billions of individuals and caused major financial pain to tech, healthcare and retail giants. Bloomberg News gathers and analyses data on major cyber attacks that expose 1 million records or more.

Since January 2020, 58 corporate, government and non-profit organizations have experienced such breaches which exposed 774 million records. Over the course of more than a decade, the tally exceeds 11 billion records across almost 335 entities.

The number of records exposed in a breach is one measure of a hack’s severity. And even then, the numbers only tell part of the story. A breach that exposes email addresses isn’t great but isn’t nearly as bad as one that includes social security numbers or sensitive medical records.

One of the more damaging hacks occurred in 2014, Chinese attackers took advantage of lax security at the U.S. Office of Personnel Management and made off with a motherlode of sensitive personal information (including 5.6 million fingerprint records) on a total of 22.1 million government employees and individuals that had gone through security clearance background checks.

In the corporate world, hacks ranged from a few million records exposed to several billion, the 2013 breach of Yahoo! remains among the biggest of all time, as user information on all of its 3 billion users at the time was stolen. In 2015, 80 million records were taken in a hack on Anthem, including personal information and employment data for members of affiliated health plans.

More recently, in 2019, a hacker tapped into the vast trove of data stored on servers Capital One Financial Corp. was using and exposed personal information on more than 100 million Americans.

But other major hacks aren’t reflected in record tallies. For instance, Russian hackers installed a backdoor in software by Texas-based SolarWinds Corp., which they then used, in addition to other methods, to infiltrate nine U.S. government agencies and about 100 companies. The number of records stolen isn’t known. A Microsoft executive described the attack—which was disclosed in December 2020—as the “largest and most sophisticated attack” ever.

Nowadays, user and corporate data are among a business’s most valuable and most sensitive assets. As a growing number of hackers attempt to exfiltrate such information for their own benefit, Bloomberg News will be updating this story with more cybersecurity incidents when they become known.

 

Related Articles:

Mobile Crypto ‘Mining’ App Possibly Connected To Personal Data Leak

Ireland Confirms Second Cyber Attack On Health System

US Unveils Plan To Protect Power Grid From Foreign Hackers

Hackers Breach Thousands of Security Cameras, Exposing Tesla, Jails, Hospitals

A Hacker Was Selling A Cybersecurity Exploit As An NFT. Then OpenSea Stepped In

Clubhouse And Its Privacy & Security Risk

Using Google’s ‘Incognito’ Mode Fails To Prevent Tracking

Kia Motors America Victim of Ransomware Attack Demanding $20M In Bitcoin, Report Claims

The Long Hack: How China Exploited A U.S. Tech Supplier

Clubhouse Users’ Raw Audio May Be Exposed To Chinese Partner

Hacker Changed Chemical Level In Florida City’s Water System

UK Merger Watchdog Suffers 150 Data Breaches In Two Years

KeepChange Foils Bitcoin Theft But Loses User Data In Sunday Breach

Hacker Refuses To Hand Police Password For Seized Wallet With $6.5M In Bitcoin

SonicWall Says It Was Victim of ‘Sophisticated’ Hack

Tor Project’s Crypto Donations Increased 23% In 2020

Read This Now If Your Digital Wallet Which Holds Your Crypto-currencies Can Be Accessed Through Cellular, Wifi, Or Bluetooth

Armed Robbers Steal $450K From Hong Kong Crypto Trader

Is Your iPhone Passcode Off Limits To The Law? Supreme Court Ruling Sought

Researchers Warn 3 Apps Have Been Stealing Crypto Undetected For A Year

Ways To Prevent Phishing Scams In 2020

The Pandemic Turbocharged Online Privacy Concerns

US Treasury Breached By Foreign-Backed Hackers

FireEye Hack Portends A Scary Era Of Cyber-Insecurity

How FinCEN Became A Honeypot For Sensitive Personal Data

Apple And Google To Stop X-Mode From Collecting Location Data From Users’ Phones

Surge In Physical Threats During Pandemic Complicates Employee Security Efforts

Imagine A Nutrition Label—for Cybersecurity

Cybercriminals Attack GoDaddy-based Cryptocurrency Platforms

Biden Team Lacks Full U.S. Cybersecurity Support In Transition Fracas

Nasdaq To Buy Anti-Financial Crime Firm Verafin For $2.75 Billion

Mysterious Software Bugs Were Used To Hack iPhones and Android Phones and No One Will Talk About It

Dark Web Hackers Say They Hold Keys To 10,000 Robinhood Accounts #GotBitcoin

Hackers Steal $2.3 Million From Trump Wisconsin Campaign Account

Crypto Scammers Deface Trump Campaign Website One Week From Elections

Telecoms Protocol From 1975 Exploited To Target 20 Crypto Executives

With Traders Far From Offices, Banks Bring Surveillance To Homes

Financial Systems Set Up To Monitor Unemployment Insurance Fraud Are Being Overloaded (#GotBlockchain?)

A Millionaire Hacker’s Lessons For Corporate America

Container Shipping Line CMA CGM Says Data Possibly Stolen In Cyberattack

Major Hospital System Hit With Cyberattack, Potentially Largest In U.S. History

Hacker Releases Information On Las Vegas-Area Students After Officials Don’t Pay Ransom

Russian Troll Farms Posing As African-American Support For Donald Trump

US Moves To Seize Cryptocurrency Accounts Linked To North Korean Heists

These Illicit SIM Cards Are Making Hacks Like Twitter’s Easier

Uber Exec Allegedly Concealed 2016 Hack With $100K BTC ‘Bug Bounty’ Pay-Off

Senate Panel’s Russia Probe Found Counterintelligence Risks In Trump’s 2016 Campaign

Bockchain Based Surveillance Camera Technology Detects Crime In Real-Time

Trump Bans TicToc For Violating Your Privacy Rights While Giving US-Based Firm Go Ahead (#GotBitcoin?)

Facebook Offers Money To Reel In TikTok Creators

How A Facebook Employee Helped Trump Win—But Switched Sides For 2020

Facebook Rebuffs Barr, Moves Ahead on Messaging Encryption

Facebook Ad Rates Fall As Coronavirus Undermines Ad Spending

Facebook Labels Trump Posts On Grounds That He’s Inciting Violence

Crypto Prediction Markets Face Competition From Facebook ‘Forecasts’ (#GotBitcoin?)

Coronavirus Is The Pin That Burst Facebook And Google Online Ads Business Bubble

OpenLibra Plans To Launch Permissionless Fork Of Facebook’s Stablecoin (#GotBitcoin?)

Facebook Warns Investors That Libra Stablecoin May Never Launch (#GotBitcoin?)

FTC Approves Roughly $5 Billion Facebook Settlement (#GotBitcoin?)

How Facebook Coin’s Big Corporate Backers Will Profit From Crypto

Facebook’s Libra Is Bad For African Americans (#GotBitcoin?)

A Monumental Fight Over Facebook’s Cryptocurrency Is Coming (#GotBitcoin?)

Alert! 540 Million Facebook Users’ Data Exposed On Amazon Servers (#GotBitcoin?)

Facebook Bug Potentially Exposed Unshared Photos of Up 6.8 Million Users (#GotBitcoin?)

Facebook Says Millions of Users’ Passwords Were Improperly Stored in Internal Systems (#GotBitcoin?)

Advertisers Allege Facebook Failed to Disclose Key Metric Error For More Than A Year (#GotBitcoin?)

Ad Agency CEO Calls On Marketers To Take Collective Stand Against Facebook (#GotBitcoin?)

Thieves Can Now Nab Your Data In A Few Minutes For A Few Bucks (#GotBitcoin?)

New Crypto Mining Malware Beapy Uses Leaked NSA Hacking Tools: Symantec Research (#GotBitcoin?)

Equifax, FICO Team Up To Sell Your Financial Data To Banks (#GotBitcoin?)

Cyber-Security Alert!: FEMA Leaked Data Of 2.3 Million Disaster Survivors (#GotBitcoin?)

DMV Hacked! Your Personal Records Are Now Being Transmitted To Croatia (#GotBitcoin?)

Lithuanian Man Pleads Guilty In $100 Million Fraud Against Google, Facebook (#GotBitcoin?)

Hack Alert! Buca Di Beppo, Owned By Earl Enterprises Suffers Data Breach Of 2M Cards (#GotBitcoin?)

SEC Hack Proves Bitcoin Has Better Data Security (#GotBitcoin?)

Maxine Waters (D., Calif.) Rises As Banking Industry’s Overseer (#GotBitcoin?)

FICO Plans Big Shift In Credit-Score Calculations, Potentially Boosting Millions of Borrowers (#GotBitcoin?)

Our Facebook Page

Your Questions And Comments Are Greatly Appreciated.

Monty H. & Carolyn A.

Go back

Leave a Reply