Development of trade surveillance rules by the FTC. Coinbase User Protections. The NSTAC requests OT inventories. US CyberCom and NSA on election security.


In one look.

  • Learn more about the FTC’s Request for Comments on Trade Oversight Rulemaking.
  • Coinbase accused of employing inadequate user protections.
  • NSTAC requests required inventories of operational technology.
  • US CyberCom and NSA join forces to fight election interference.

Learn more about the FTC’s Request for Comments on Trade Oversight Rulemaking.

The US Federal Trade Commission (FTC) earlier this month announced plans to create rules governing commercial surveillance, defined as the “collection, aggregation, analysis, storage, transfer or monetization of consumer data and direct derivatives of this information”. In the Advance Notice of Proposed Rulemaking (ANPR), the FTC noted key areas of concern, including inadequate data security, impact on minors, lack of transparency regarding how data are analysed, discriminatory practices and attempts to influence consumer choices. ANPR notes that by using its Section 18 commerce regulatory authority, once the rules are created, the FTC would be able to impose civil penalties for early violations. Cooley offers a list of the main categories of questions asked by ANPR, which include investigations into how commercial surveillance practices or lax security measures harm consumers (including minors), how the FTC might balance the costs and benefits, and how the FTC can go about regulating harmful commercial surveillance. The deadline for submitting comments will be sixty days after the publication of the notice in the Federal Register.

Coinbase accused of employing inadequate user protections.

Cryptocurrency exchange Coinbase has been the subject of a class action lawsuit alleging the platform was negligent in protecting user data from cyberattacks. The Recorder explains that Coinbase previously faced steep fines for vulnerabilities found on the platform, but the lawsuit claims the exchange’s security issues persist, allowing hackers to continue infiltrating users’ cryptocurrency wallets . Specifically, the lawsuit alleges that Coinbase customer Manish Aggarwal lost over $200,000 in Bitcoin after cybercriminals hacked into his account. The lawsuit also notes a breach in 2021 in which hackers stole the funds of more than six thousand Coinbase customers. Coinbase’s website claims that the platform’s “best-in-class storage,” “state-of-the-art security,” and “state-of-the-art encryption” have made it “the most trusted crypto exchange,” but the plaintiffs claim that these claims are false. . “Unfortunately, Coinbase’s representations regarding the security of its platform have been proven to be false. Despite claiming to be “the only crypto exchange never to be hacked,” Coinbase has been hacked and customer funds stolen multiple times over the past two years,” the court documents state.

NSTAC requests required inventories of operational technology.

On Tuesday, the National Telecommunications Security Advisory Committee (NSTAC), a group of private sector experts who advise the White House on telecommunications issues, approved a report recommending that the Cybersecurity and Infrastructure Security Agency (CISA) compel all federal civilian agencies to catalog all of their operational technology (OT) devices and systems. MeriTalk notes that the move is the latest response to the Biden administration’s request that the NSTAC focus on “improving the resilience of the internet in 2021 and beyond.” The report says the convergence of OT systems and information technology, and the impact of this convergence on security, are “poorly understood”. The technology needed to improve OT cybersecurity exists, but the cyber workforce needed to implement such technology is scarce. “The biggest shortcoming is that end users, including federal government owners and operators, have not prioritized resources to ensure the cybersecurity of these systems and networks to the appropriate levels,” the report said. To address these issues, NSTAC urges CISA to issue a Binding Operational Directive (BOD) requiring all federal civilian agencies to maintain an annually updated inventory of all OT devices, software, systems and assets. “Once federal agencies clearly understand the vast and interconnected nature of their OT devices and infrastructure, they can then make risk-informed decisions about how to prioritize their cybersecurity budgets,” the NSTAC states.

US CyberCom and NSA join forces to fight election interference.

With just seventy-four days left until the U.S. midterm elections, the U.S. Department of Defense (DoD) offers insight into actions taken by U.S. Cyber ​​Command and the National Security Agency (NSA) to defend US election systems against cyberattacks. The Cybercom-NSA Election Security Group (ESG), co-led by Air Force Brigadier General Victor Macias and NSA Senior Executive Anna Horrigan, was created earlier this year to synchronize the efforts of the two groups. Their goals are to generate intelligence on foreign adversaries who may interfere with or influence elections; strengthen national defense by supporting information sharing between inter-agency, industry and allied partners; and penalize foreign actors seeking to undermine democratic processes. U.S. Army Gen. Paul M. Nakasone, Commander of Cybercom and Director of the NSA, said, “This is an enduring and fail-safe mission for U.S. Cyber ​​Command and the National Security Agency, that bring unique insights and actions across government. effort. Together, we bring speed and unity of effort against any foreign adversary who may seek to undermine our democratic institutions.


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