The Department of Commerce issued a press release about the creation of the National Artificial Intelligence Advisory Committee (NAIAC) which “will consist of expert leaders from a broad and interdisciplinary range of AI-relevant disciplines from across academia, industry, non-profits and civil society, and federal laboratories. These experts will be qualified…
Continue Reading Is the new federal AI Advisory Committee too late to the game?
The Securities and Exchange Commission’s (SEC) Office of Investor Education and Advocacy (OIEA) and Division of Enforcement’s Retail Strategy Task Force (RSTF) issued an investor alert to “remind investors to watch out for investment schemes involving digital assets and “Crypto.” Fraudsters continue to exploit the rising popularity of digital assets…
Continue Reading SEC Issues an Investor Alert about Digital Asset and “Crypto” Investment Scams!
The Securities and Exchange Commission (SEC) issued a news release that “it had filed an action against BitConnect, an online crypto lending platform, its founder Satish Kumbhani, and its top U.S. promoter and his affiliated company, alleging that they defrauded retail investors out of $2 billion through a global fraudulent…
Continue Reading SEC files suit for a $2 BILLION fraud by global crypto lending platform!
The Washington Post reported that “The metaverse is different from today’s virtual reality, where clunky headsets offer siloed experiences and few chances to cross-play with people who own other gadgets. Instead, the metaverse would be a massive communal cyberspace, linking augmented reality and virtual reality together, enabling avatars to hop…
Continue Reading Is the Metaverse the Future of the Internet?
BankInfoSecurity.com reported that “A hacker stole $97 million in cryptoassets from the Japan-based cryptocurrency exchange Liquid, which announced the breach via Twitter late Wednesday and halted deposits and withdrawals.” The August 19, 2021 report entitled “Hacker Steals $97 Million From Crypto Exchange ‘Liquid’” included these comments from Liquid…
Continue Reading $97 Million stolen from the Liquid Crypto Exchange!
The Department of Justice reported that Larry Dean Harmon (38, of Akron, Ohio) “agreed to the forfeiture of more than 4,400 bitcoin, valued at more than $200 million at today’s prices, and other seized properties that were involved in the money laundering conspiracy. Harmon will be sentenced at a date…
Continue Reading Cybercriminal Pleads Guilty to Laundering Over $300 Million in Bitcoin!
BankInfoSecurity.com reported “that financial institutions “will have limited information on an event” within 24 hours. They add that the details of cyber intrusions involving nation-states or advanced persistent threat groups cannot be adequately gathered within 24 hours, given the need for assistance from federal agencies.” The August 17, 2021…
Continue Reading 24 Hour Cyber Incident Notification Requirement is Too Short!
Law360.com reported that “the cyber insurance industry is adapting to the evolving cyber risks to businesses.” The August 13, 2021 article entitled “Ransomware Scourge Isn’t Scaring Away Cyber Insurers” included these comments:
Ransomware payments for cyberattacks have raised concerns for cyber insurers, but experts say those worries haven’t…
Continue Reading No Surprise that Ransomware Insurance Premiums are Increasing!
DataBreachToday.com reported about the Federal Trade Commission’s blog entitled “Phishing scheme targets unemployment insurance benefits and PII” that “Identity thieves are targeting millions of people nationwide with scam phishing texts aimed at stealing personal information, unemployment benefits, or both.” The August 9, 2021 report entitled “FTC Warns:…
Continue Reading Smishing (aka SMS Phishing) Warning from the FTC!
DataBreachToday.com reported that “Because of the shortage of cybersecurity workers, the federal government and the private sector need to consider accepting high school graduates as entry-level employees as well as finding new staff through certificate programs and apprenticeships, cyber education experts told a House subcommittee last week.” The August…
Continue Reading 460,000+ Cybersecurity Professional Jobs are Available!
