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The past few months could be deemed the "summer of cybersecurity," as stemming the tide of online risk continues to be a worldwide concern. Both the federal government and industry are getting in on the cybersecurity strategy act, and are even developing ways to work together to improve online security.
This week, the U.S. Department of Homeland Security (DHS) announced a $6 billion contract with 17 vendors to improve federal cybersecurity. Continuing this trend toward public/private cybersecurity partnership, former DHS Deputy Secretary Jane Holl Lute announced the formation of the Council on Cybersecurity, a nonprofit coalition that will focus on spreading cybersecurity best practices.
As these and other online risk-related news stories broke, people took to social media to voice their praise -- and skepticism:
The increased scope of cyberthreats has led many industries to re-examine cybersecurity strategy initiatives. A report released earlier this month by the Depository Trust & Clearing Corp. called cybersecurity "arguably the top systemic threat facing global financial markets and associated infrastructures." The legal field and other industries have also sought ways to combat online risk and provide protection without negatively influencing everyday business processes:
As a result of more sophisticated cybersecurity threats, some businesses are even turning to "cyber liability" insurance policies:
Cyber liability insurance provides 1st and 3rd party cover 4 data loss, business interruption + liability due to network + privacy breaches.— CyGeist (@CyGeist) August 9, 2013
But despite the increased cybersecurity focus, recent statistics and trends show much more still needs to be done to protect online security:
SEC says 106% increase in disclosure of cyber security risks in financings but not enuf are reporting risks properly (says me). #securities— Christine Duhaime (@cduhaime) August 14, 2013
#aiaaAviation Richard A. Clarke "US is not spending nearly enough on either cyber security systems or cyber security education."— AIAA (@aiaa) August 13, 2013
What do you think of the recent spate of online risk-related initiatives across government and industry? Is it a step in the right direction to taking online security seriously, or is it just lip service? Voice your concerns in the comments section. We'd love to hear from you.