Key Developments in Regulation

The video discusses recent regulatory developments in cybersecurity, highlighting the increase in cyber attacks during the COVID-19 pandemic. It covers actions by the SEC and FTC, state and international regulations, and offers practical advice for companies to enhance their cybersecurity measures. The session concludes with a Q&A addressing common concerns about compliance and risk management.

What was a significant factor that led to an increase in cyber attacks during the COVID-19 pandemic?

• Increased government regulations

• More people working from home

• Advancements in cybersecurity technology

• Decrease in cybercriminal activity

What is a key focus of the SEC's proposed rules in the cybersecurity space?

• Reducing the number of cyber attacks

• Improving public awareness of cybersecurity

• Enhancing incident reporting and risk management

• Providing financial incentives for cybersecurity improvements

Which agency is expected to continue robust enforcement in privacy and cybersecurity under Commissioner Lena Khan?

• Department of Homeland Security (DHS)

• Federal Communications Commission (FCC)

• Securities and Exchange Commission (SEC)

• Federal Trade Commission (FTC)

What is the purpose of the newly established Cyber Security Center?

• To provide financial aid to companies affected by cyber attacks

• To coordinate efforts and resources among state AGs

• To enforce international cybersecurity laws

• To develop new cybersecurity technologies

What is a major challenge facing the new international data transfer framework announced by the US and EU?

• Overlapping regulations with other countries

• Lack of technological infrastructure

• Opposition from privacy advocates like Max Schrems

• Insufficient funding

What is one practical step companies can take to improve their cybersecurity readiness?

• Rely solely on government support

• Implement multi-factor authentication

• Ignore phishing threats

• Reduce cybersecurity training

How can small and medium-sized companies keep up with the complex regulatory frameworks in cybersecurity?

• Focus on internal processes and rely on legal counsel

• Rely on outdated cybersecurity practices

• Ignore regulations and focus on business growth

• Only follow federal regulations

What is a potential risk when paying ransoms to cybercriminals?

• Increasing government support

• Violating sanctions laws

• Improving company reputation

• Decreasing future cyber threats

What role do forensic firms play in the context of ransom payments?

• They negotiate ransom amounts

• They ensure threat actors are not tied to sanctioned entities

• They provide legal advice

• They offer financial compensation

What is a key consideration for companies when dealing with cybersecurity incidents?

• Ignoring regulatory requirements

• Relying on outdated security measures

• Ensuring quick incident reporting and response

• Focusing solely on financial losses