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Cyber Daily: When Hackers Strike, CEOs Become Negotiators, Communicators
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Hello. Chief executives often take on the role of chief communicator in a cyber crisis, whether they are prepared to or not.
I talked with Todd McKinnon, co-founder and chief executive of Okta Inc., about how his company got caught up in a breach at a business partner earlier this year. In trying to get information to customers quickly, he made some statements early on that turned out to be wrong. “In a situation where there are a lot of unknowns,” he said, “it’s quite challenging.”
Kathleen Duffy, CEO of recruitment firm Duffy Group, also shared executive-level lessons from dealing with a ransomware attack.
Read about what they learned from the episodes in an article from my colleague Angus Loten and me.
Also today:
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CONTENT FROM OUR SPONSOR: Netscout
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5 Reasons to Protect Your Pharmaceutical Business
Without proactive measures, daily operations for pharma leaders may be jeopardized due to network outages and cyberattacks. Prevent visibility gaps by protecting the performance and security of your network.
Learn More
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Navigating Rough Economic Seas
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ILLUSTRATION: THOMAS R. LECHLEITER/THE WALL STREET JOURNAL/ISTOCK
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C-suite executives and other business leaders are planning for a period where inflation is sticky, interest rates are rising, the geopolitical landscape is fraught with tumult and the economy is slowing.
WSJ Pro reporters and editors have been examining the cloudy economic outlook, looking at how some of the biggest and most successful companies are adapting their budgeting and managing costs, approaching mergers and acquisitions, adjusting their borrowing, and more. We have looked at the steps companies are taking to gird for tougher times, and found that many are approaching this period of uncertainty as an opportunity as much as a challenge.
Read the full guide, including what corporate tech officers expect.
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PHOTO: NG HAN GUAN
/ASSOCIATED PRESS
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Hackable rides: Cyber researchers are warning car makers of exploits that can be used to steal drivers' personal data, as well as information about, and generated by, the vehicles. U.S. border patrol agents, meanwhile, are buying car data, making particular use of bits and bytes emitted or stored by infotainment systems. (Forbes)
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PHOTO: DAVID PAUL MORRIS
/BLOOMBERG NEWS
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Blockchain for the electric grid: Verifying communications transactions among devices on an electrical grid could help protect against cyberattacks, according to researchers at the Energy Department's Oak Ridge National Laboratory. The lab demonstrated that a blockchain can check requests to change settings against typical configurations. Unauthorized or unusual requests would be blocked. (American Public Power Association)
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PHOTO: ANDREW HARNICK
/ASSOCIATED PRESS
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Quantum diplomacy: French President Emmanuel Macron, in the U.S. for meetings with President Joe Biden and other officials, proudly tweeted Thursday about France sending what he called the first diplomatic message to the U.S. using post-quantum cryptography.
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Online sportsbooks targeted: DraftKings Inc. and FanDuel are investigating cyber incidents that drained funds from some customer accounts in recent weeks. The betting services have said they will refund missing money and suspect hackers used a credential-stuffing attack. (ESPN)
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Hive Social, a Twitter-like service, shut down servers after researchers at a security collective in Germany discovered vulnerabilities that would let hackers access data and accounts. (TechCrunch)
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👉 Listen: Cyber Insurers Consider Catastrophic Attacks
Insurance firms that cover cyberattacks are working out what to do in the event of a catastrophic hack, one that takes down a systemically important company and possibly even the economy.
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