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Inadvertent Data Destruction After a Cyberattack Can Violate EU Privacy Rules
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Happy Friday, everyone. A nearly-$500,000 fine against an Irish medical group shows the risks in meeting Europe’s data-privacy requirements—even as you rush to recover from a security incident.
Cyber teams can overwrite security logs, fail to document defense steps or forget to preserve snapshots of infected systems. These missteps can bring on big penalties if they contribute to a data breach. Read our full story.
Don't miss: Our new weekly Executive Insights section. Each Friday, we will share selections from WSJ Pro that provide analysis we hope is useful to you. The stories are unlocked for The Wall Street Journal’s subscribers.
Also today:
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What's in Biden's budget for cybersecurity
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Tech provider Blackbaud pays $3 million to settle SEC case over alleged misleading statements after attack
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Broker-dealers face new cyber rules
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And more, including weekend reading
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CONTENT FROM OUR SPONSOR: Netscout
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Security Trends to Watch in 2023
Not all your favorite security professionals have clairvoyant abilities, but we can spot trends from adversaries early to inform enterprises before they're caught off guard. Here are a few trends to look for before it's too late.
Learn More
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PHOTO: ANDREW KELLY
/REUTERS
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Broker-dealers would be subject to new cybersecurity rules under a proposal disclosed Thursday by the Securities and Exchange Commission. The proposal, due for a vote March 15, is part of a string of similar SEC bids to impose stricter oversight and more thorough cyber protections on pieces of the financial industry. (Reuters)
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The FBI seized a web domain that offered malware known as NetWire, which creates backdoors on computer systems to enable surveillance and remote access to networks. The WorldWideLabs site had long marketed NetWire as a legitimate software tool but it was widely used by hackers, the FBI said.
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Twitter and Elon Musk face legal risks in FTC probe. The Federal Trade Commission’s hundreds of written demands to the company in recent months show it is investigating Mr. Musk’s personal role in high-profile decisions including layoffs, changes to Twitter’s features and the sharing of internal company records with journalists. (WSJ)
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NEWSLETTER EXTRA | Biden's Budget
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The Biden administration on Thursday released a budget outline for fiscal year 2024 that highlights the president’s policy priorities, calling for increases in funding for defense, immigration, healthcare and clean energy programs.
Funds designated for cybersecurity are spread across agencies and departments, including the following:
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$14 million to address cybercrimes against individuals, through the Violence Against Women Act
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$63 million for more FBI agents, enhanced response capabilities, and strengthened intelligence collection and analysis capabilities to fight cybercrime
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$215 million to protect and defend sensitive systems at the Treasury Department. This is an increase of $115 million above the 2023 enacted level.
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$245 million to enhance the security of clean-energy technologies and the energy supply chain
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$400 million for the Countering PRC Influence Fund, which refers to strategic competition with the People's Republic of China
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$753 million for Ukraine to continue to counter Russian malign influence and to meet emerging needs related to security, energy, cybersecurity, disinformation, macroeconomic stabilization and civil society resilience
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$3.1 billion for the Cybersecurity and Infrastructure Security Agency, or $145 million more than the prior budget. This includes $98 million to implement the Cyber Incident Reporting for Critical Infrastructure Act, enacted in 2021, and $425 million to improve CISA’s internal cybersecurity and analytical capabilities.
—Kim S. Nash
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PHOTO: BILL CLARK/CQ-ROLL CALL/GETTY IMAGES
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Rep. Darin LaHood (R., Ill.) said the Federal Bureau of Investigation inappropriately searched his name in a database of intelligence collected through a foreign-surveillance program, an action he said would jeopardize congressional support for a tool U.S. intelligence leaders consider vital to national security. (WSJ)
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Weekly highlights from across WSJ Pro that we hope will be useful to you. Here are this week's stories, unlocked for WSJ subscribers.
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PHOTO: GARY BREEDLOVE
/EUROPEAN PRESSPHOTO AGENCY
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Nurses sue after cyberattack. Chicago-based CommonSpirit Health withheld pay from members of the Oregon Nurses Association as the nonprofit hospital chain worked to recover from a ransomware strike in October, according to the lawsuit. CommonSpirit shut down some tech systems in the days after the attack, causing outages at hospitals across the U.S., including of bookkeeping systems.
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More than 400 nurses, including many at Mercy Medical Center in Roseburg, Ore., say they were underpaid during that period.
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CommonSpirit didn't respond to a request for comment from Oregon Business.
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$16.6 Million
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Cost of a cybersecurity incident in November at protein company Maple Leaf Foods Inc., based in Mississauga, Ontario. The expense contributed to a quarterly loss at Maple Leaf, which sells meat and poultry and is building a plant-based protein business. (CTV News)
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