Thursday, June 1 2023

Weekly cybersecurity round-up for financial executives: Information security news, updates, and insights that matter to financial services decision-makers.

CFO & CIO Engagement on the Rise

Interactions between chief financial officers and chief information officer is on the rise, according to a recent executive survey. The report, released by data analytics provider BizData, noted that 21% of CFOs surveyed want to improve their regulatory insights. Nearly a third of CFOs (32%) believe “controlling risk” is important for 2022 and 22% fear the “lack of IT security” in their company.

Judge Thyself… Better

Nearly half of 22 Department of Defense information technology projects underreported their own risk, according to a report by the US Government Accountability Office. The GAO recommended that the Defense Department review its risk evaluation methods used by GAO.

Limits Placed on Privacy Lawsuits

The US Supreme Court determined customers do not have a legal right to sue if reputational harm from leaked data does not occur. This decision will help companies in lawsuits over data breaches.

Privacy, Someday

Google will delay plans to phase out third-party cookies until at least 2023. The search engine states that the reason for the delay is to allow businesses who use the platform and rely on third-party cookies to adjust their marketing strategies to fit Google’s changing privacy standards. The company hopes by slowing down the phase out that both individuals and businesses will be satisfied with the new standards.

On That Note… Crypto, Someday.

US Security and Exchange Commission announced their regulatory agenda for the coming year. Noticeably absent from the annual plan is any mention of Bitcoin or cryptocurrencies. SEC Commissioner Gary Gensler explained the absence is due to the need for a congressional solution for crypto regulation.

Ring, ring… Who dis?

Eighty-six percent of surveyed IT decision makers agree that attacks on mobile devices are becoming more diverse, frequent, and sophisticated. Only a quarter of IT professionals think their employees report vulnerabilities every time they occur, according to the report produced by cybersecurity firm Menlo Security.

God Save the Queen

The accessibility of mobile numbers online pose security risks because some spyware only needs a phone number to obtain access to a device. Bank executives can learn cautionary lessons from the UK government, which faced a series of incidents in which mobile numbers of government leaders, including Boris Johnson and Foreign Secretary Dominic Raab, according to UK newspaper the Guardian.

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Cloudburst Technologies, a monitoring and threat intelligence provider, announced that they raised $3 million in their seed investment round. Investments were led by Strategic Cyber Ventures with participation from Coinbase Ventures and Bloccelerate. Cloudburst Technologies specifically provides tools aimed at tracking and combating fraud in the cryptocurrency market. Investigators can do so without relying on […]

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Cyber Deals: Cloudburst, HUB Security, and Soucepass

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Cybersecurity venture funding activity and mergers and acquisitions: This week’s most sizable deals included AI powered security service providers and computing platforms. Funding Threat solutions provider for cryptocurrency Cloudburst Technologies raised $3 million in the seed funding round led by Strategic Cyber Ventures in order to help build on their current technology. HUB Security, a […]

Cyber Executive Moves: Vimeo, IntelePeer, National Cybersecurity Center, and More

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Former Tesla CISO joins Vimeo, NCC welcomes new board members, and Greenway Health hires new CISO. Video sharing platform Vimeo welcomes Mark Carter as their first chief information security officer. Carter has a variety of experience in the industry including serving as chief information security officer at Tesla.    Greenway Health, a health services software […]

NetBox Labs Raises $20 Million in Series A To Drive Open Source Transformation of Networking Industry

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NetBox Labs, an open source network management and automation startup, announced it has raised $20 million in Series A funding. Flybridge Capital is leading the investment with participation from GGV Capital, Grafana Labs CEO Raj Dutt, Mango Capital, Salesforce Ventures, Two Sigma Ventures, IBM, the Founder Collective, and Entrée Capital. As part of the round, […]

Fivecast Completes $20M Series A Raise With New US and Existing Australian Venture Investors

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US-based cybersecurity venture capital firm Ten Eleven leads funding, joining existing backers in CSIRO’s Main Sequence and South Australian Venture Capital Fund Australian open-source intelligence software company, Fivecast, has closed its Series A funding round with almost $20 million (AU$30m) raised to fuel its expansion and service contracts in key markets, including Five Eyes nations, […]

Push Security Raises $15M and Launches New Visibility and Employee-Powered Tools to Help Enterprises Scale SaaS Security

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LONDON–(BUSINESS WIRE)–Push Security, a SaaS security company, has raised $15M in Series A funding. GV (Google Ventures) led the funding with participation from Decibel and notable angels, including Dug Song, co-founder and former CEO at Duo Security, and Tray.io co-founder and CEO Rich Waldron. GV General Partner Karim Faris and Jon Oberheide, co-founder and former […]