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Nation-States Flex Cyber Muscles as Geopolitical Risks Soar

By James Rundle

 

Good day. We’re bringing you coverage from a Dow Jones Risk Journal conference at Journal House in Singapore this week, along with our regular news.

David Koh, chief executive and commissioner of cybersecurity for the Cyber Security Agency of Singapore, discussed how the city-state’s critical infrastructure came under sustained attack from a China-linked threat group, UNC3886. Publicly attributing the attacks was a deliberate defensive measure, he said.

Frankie Shuai, chief information security officer for the Asia-Pacific region at DWS Group, the asset management subsidiary of Deutsche Bank, said businesses are seeing threats from both cyber attackers seeking financial gain as well as from those trying to advance political positions.

When a European country or the U.S. over the past few years has announced support for Ukraine in its war with Russia, there has been a noticeable spike in distributed denial-of-service—or DDoS—attacks afterward in those allied countries, he said.

Read our full story here.

Also today:

  • Information-sharing law expiry raises significant concerns.
  • Louisiana group sues government over data lake.
  • Allianz Life details breach extent.
 

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CISA Expiry

PHOTO: BRENDAN SMIALOWSKI/AFP VIA GETTY IMAGES

The collapse of congressional efforts to renew decade-old legal protections for sharing cyberattack intelligence between the private sector and the U.S. government leaves a dangerous gap in the nation’s cybersecurity defenses, experts say.

The 2015 Cybersecurity Information Sharing Act, or CISA—which expired early Wednesday after weeks of partisan gridlock and amid a government shutdown—sought to encourage organizations to provide information on new threats to cybersecurity teams in Washington. Among other protections, the legislation set guardrails to shield companies from antitrust and liability charges.

Sharing cyberattack data is seen as a core strategy for preventing Chinese, Russian and other state-sponsored hackers from burrowing deeper into U.S. infrastructure.

Without legal protections, private-sector companies are now more likely to withhold critical attack information, leaving potential vulnerabilities exposed, cybersecurity experts say. “You’ll see information sharing almost cease to exist overnight,” said Tony Monell, public-sector vice president at cybersecurity firm Black Kite and a former senior cyber policy adviser for critical and emerging technology in the Office of the Secretary of Defense.

Read our full story here.

 

Cyberattacks

PHOTO: ETIENNE LAURENT/AFP VIA GETTY IMAGES

Circle K Restores Some Payment Systems After Hong Kong Cyberattack. Supermarket chain Circle K reopened QR, credit card, contactless and account top-up payments in Hong Kong following a weeklong outage, though bill payments and loyalty services remain down.
(South China Morning Post)

PHOTO: CHRISTOF STACHE/AFP VIA GETTY IMAGES

Allianz Life Confirms Breach Exposes Majority of Customer Records. Allianz Life said a threat actor gained access to a third-party CRM system on July 16, exposing personal data for most of its 1.4 million U.S. customers, financial professionals and some employees. (Bleeping Computer)

Credera Client Data Reportedly Stolen in Breach. Hackers allege they accessed sensitive information from Credera, reportedly including client documents, SQL files and private certificate keys tied to major firms such as Mercedes and AT&T. (CyberNews)

 

Privacy

PHOTO: AL DRAGO/GETTY IMAGES

Voting Rights, Privacy Groups Sue Over Federal Data Plans. Voting rights and privacy advocates filed a federal suit against the Trump administration, claiming it unlawfully assembled a national data lake pooling sensitive personal information across agencies to support immigration enforcement and voter purges. (Louisiana Illuminator)

 

About Us

The WSJ Pro Cybersecurity team is Deputy Bureau Chief Kim S. Nash and reporters Angus Loten, James Rundle and Catherine Stupp. Follow us on X @WSJCyber. Reach the team by replying to any newsletter you receive or by emailing Kim at kim.nash@wsj.com.

 
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