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PHOTO: ANDREW KELLY/REUTERS
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Banks urge SEC to repeal cyber reporting rules. The American Bankers Association with four other bank lobby groups say the Securities and Exchange Commission's rule that public companies must disclose material cyberattacks conflicts with other U.S. laws that ensure confidentiality for such information. (Coin Telegraph)
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The disclosure rule, which went into effect in December 2023, has "failed to provide the market with meaningful or actionable information upon which to make investment decisions," the banks said in a letter to the SEC last week.
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Restoration in five or six weeks: Stuart Machin, CEO of Marks & Spencer, said it will take five or six weeks longer for online shopping to come back at the U.K. retailer, after a cyberattack in April.
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"I am very demanding but if you are just demanding about the speed of the outcome, you have people taking shortcuts. So I'd like to get it right," he said. (This Is Money)
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City cyberattacks: Hackers linked to China are exploiting flaws in Cityworks asset-management software, which is used by many state and local governments in the U.S., according to cyber researchers at Cisco. Once in municipal networks, the attackers often look for entry into utility operations, Cisco said. Cityworks is urging customers to upgrade to the latest version, which contains fixes. (InfoSecurity Magazine)
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Nova Scotia Power said data about 280,000 customers, or about half of its customer base, was compromised in a ransomware attack last month. The Canadian utility said it hasn't paid a ransom. (SecurityWeek)
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36
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Number of maritime-industry cyberattacks the U.S. Coast Guard responded to last year, with the average cost per incident at $4.9 million. (Maritime Executive)
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