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A congressional committee criticized the FDIC’s handling of more recent data breaches.

The U.S. Federal Deposit Insurance Corporation is updating cyber security policies after a 2015 data breach in which a former employee kept copies of sensitive information on how banks would handle bankruptcy, the regulator’s chief said on Thursday.

FDIC Chairman Martin Gruenberg also said he made personnel changes after receiving a report in 2013 informing him that he had not been fully briefed about the major compromise of the regulator’s computers by a foreign government in 2010 and 2011.

Gruenberg made the comments in prepared remarks for a hearing of the U.S. House of Representatives committee that on Wednesday said in a report that the FDIC covered up the 2010-2011 hacks, which the panel said also occurred in 2013 and were likely orchestrated by the Chinese government.

The FDIC is a major U.S. banking regulator that keeps confidential data on America’s biggest banks.

Source: FDIC Is Updating Its Cyber Security Policy After 2015 Data Breach – Fortune

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This Alex Gibney documentary describes the origin of Stuxnet, malware devised by Israel and the United States with grave implications for the future.

With every seemingly miraculous advance comes the potential for its catastrophic misuse. If you’re inclined toward paranoia, Alex Gibney’s sobering documentary “Zero Days,” about the spread of malware, exposes a whole arena of potential terror and calamitous destruction surrounded in secrecy.

We all know that our digital connectedness has a dark side. But online bullying and pornography, for example, are the least of it. The nightmare of push-button nuclear annihilation that has haunted us since the invention of the atomic bomb now has a parallel in the looming specter of large-scale cyberwarfare.

Source: Review: ‘Zero Days’ Examines Cyberwarfare’s Potential Online Apocalypse

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The likelihood of the United Kingdom exiting the European Union will put a huge strain on agencies tasked with protecting citizens, businesses and government entities from cyberattacks, said security experts.

 Assuming a Brexit does take place — and many are still hoping it will not — expect a rise in hacktivism, a reduction in tech talent, a decrease in information-sharing and increase in regulatory complexity, at least for the foreseeable future, they said.

Hackers thrive in environments of chaos and uncertainty, and the political and economic turmoil the UK finds itself in presents an opportunity.

“Cyberspace is one place where people vent their steam and take action with relatively few risks of consequences,” said Stephen Cobb, Senior Security Researcher at ESET, a Slovakia-based internet security software firm. “It does not take many activists to cause a lot of problems.”

Source: Brexit will make the UK more vulnerable to cybercrime – cnbc.com

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Regional regulations are affecting cross-border data flows, whether motivated by protection of user privacy, control over the Internet, or otherwise. Europe and the U.S. have sought to protect cross-border data flows between the two regions through the U.S.-E.U. Privacy Shield. .  At the same time, there is a growing sense of concern that Asia is becoming Balkanized when it comes to cross-border data flows there.

On July 6, 2015, China’s National People’s Congress (NPC) released a draft of a Cyber Security Law for comment.  A number of multinationals and foreign business associations expressed concern about required safety certifications and inspections for “suppliers of network products and services” before market entry and mandated siting of data centers in China.  After receiving those comments, the NPC did not take action, even during the so-called “Two Meetings” that included the NPC’s annual meeting earlier this year.

Source: Latest Developments on China’s Cybersecurity Regulation – Forbes

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The Journal of Law & Cyber Warfare provides a public peer-reviewed professional forum for the open discussion and education of technology, business, legal, and military professionals concerning the legal issues businesses and governments arising out of cyber attacks or acts of cyber war. The Journal of Law and Cyber Warfare is published twice per year by top legal professionals and scholars from the law, technology, security, and business industries.

The views expressed in the Journal of Law and Cyber Warfare are those of the authors and not necessarily of the Journal of Law and Cyber Warfare..