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PHOTO: AGENCE FRANCE=PRESSE/GETTY IMAGES
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From Condi Rice to Jeff Bezos: JPMorgan Chase named tech billionaires Jeff Bezos and Michael Dell, plus an all-star cast of retired generals and politicians, to advise on its “Security and Resiliency Initiative.” The goal is to provide $1.5 trillion in capital for companies deemed critical to national security. JPMorgan said it will invest $10 billion of its own. (WSJ)
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Ransomware in financial services: Banks, insurers and other financial organizations paid more than $2.1 billion in ransoms to hackers between January 2022 and December 2024, according to a new report from the Treasury Department's Financial Crimes Enforcement Network. Most payments were less than $250,000. (Bleeping Computer)
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FinCEN analyzed Bank Secrecy Act filings during that period and found 4,194 ransomware attacks reported. Law enforcement actions against the BlackCat and LockBit gangs helped take down ransomware strikes last year, FinCEN said.
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PHOTO: ERIC LEE
/BLOOMBERG
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Happening Thursday: Homeland Security Secretary Kristi Noem is due to testify at a House hearing on international threats to the U.S., along with Joseph Kent, director of the National Counterterrorism Center, and Michael Glasheen, operations director of the national security branch of the Federal Bureau of Investigation. Tune in at 10:00 a.m. ET.
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Las Vegas casinos are due to get stricter cybersecurity regulations. More than two years after Caesars Entertainment and MGM Resorts were hit with ransomware attacks, the Nevada Gaming Control Board is set to vote Dec. 18 to cut the time casinos have to report hacks to 24 hours after discovery, from 72.
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Defense Department wants top leaders to use secure phones. The proposed requirement is part of the annual must-pass National Defense Authorization Act, which Congress must vote on by year's end. The use of encryption and mandatory cybersecurity training would also be required of senior leaders. (CyberScoop)
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PHOTO: MATTHIAS BALK/ZUMA PRESS
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Meta Platforms plans to hand Facebook and Instagram users in the European Union more control over how much data they share. The European Commission said Monday that Meta would offer EU users a choice between sharing all their data to see fully personalized ads on Facebook and Instagram, or a lower amount of data to see limited personalized ads starting next year. (WSJ)
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The developer of an app that tracks U.S. immigration agents sued the Trump administration Monday over alleged violations of free speech stemming from Apple's removal of the app from its app store. The ICEBlock app, from developer Joshua Aaron, had more than 1 million users before it was removed by Apple in October, the lawsuit said. Apple has said the app was a safety and privacy hazard. (Reuters)
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