Cyber Markets Roundup (Wk. 15, April '23): Cybersecurity studies: what's next for the market?
Cyber Markets Roundup | Weekly cybersecurity investment highlights
*Stock data as of the market close, cryptocurrency data as of 4:00 AM ET.
WHAT’S NEW
Fast thoughts on the alleged Russian hack of Canadian nat gas pipeline
It was reported that Russian hacktivist group Zarya allegedly gained access to an operator of a Canadian natural gas provider. As part of the leaked documents from the US Pentagon, the claim showed up in the form of a photo of a crumpled document.
Critical infrastructure is increasingly at risk from cyber threat activity. Cybercriminals exploit critical infrastructure because downtime can be harmful to both their industrial processes and the customers they serve. State-sponsored actors target critical infrastructure to collect information through espionage, to pre-position in case of future hostilities, and as a form of power projection and intimidation. However, we assess that state-sponsored cyber threat actors will very likely refrain from intentionally disrupting or destroying Canadian critical infrastructure in the absence of direct hostilities. (Blogged by Ian L. Paterson on LinkedIn)
Cybersecurity for the IoT: How trust can unlock value
The Internet of Things (IoT) future: Seamless industrial and consumer experience
Turning this vision into reality one day requires overcoming several factors currently inhibiting faster IoT adoption and growth; chief among them is cybersecurity risk. Only by seriously addressing this issue with a new, holistic approach can the market maximize the value enabled by this and many other advanced IoT use cases. (Study by McKinsey)
National Cyber Threat Assessment 2023-2024
Key judgments:
Ransomware is a persistent threat to Canadian organizations.
Critical infrastructure is increasingly at risk from cyber threat activity.
State-sponsored cyber threat activity is impacting Canadians.
Cyber threat actors are attempting to influence Canadians, degrading trust in online spaces.
Disruptive technologies bring new opportunities and new threats. (From the Canadian Centre for Cyber Security)
31% of Federal Employees Say Agencies Spend Over $50M on Cybersecurity
An Ernst & Young study has found that one in three federal employees said their agencies annually spend more than $50 million on cybersecurity and that organizations are more likely to spend on security operations and data protection and privacy.
The report showed that only 46 percent of respondents said their agencies have supply chain risk management programs and nearly 60 percent said their organizations have conducted a cyber tabletop exercise in the past year. (Study by EY)
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