Cybersecurity Private Equity

Cyber TRUST™ Index

157

-2

52 Week

166

135

Index at 100 on January 1, 2020

TRUST INDEX IN PROCESS
OF BEING UPDATED- EXPECTED
COMPLETION FEB 23

Cyberattacks as a Form of Power [Cybersecurity Brief]

As cyberattack levels increase on the daily, one must ponder: what is the motivation for these hackers? After brainstorming all the possibilities, power comes to mind. Once a hacker is successful, they immediately have power over the vulnerable party no matter if the original goal was to gain money or access confidential information. Articles by Marcy Wilder and Craig Umbaugh from Business Insider, Alfred Ng from CNET along with The Washington Post’s Chico Harlan and Stefano Pitrelli reveal this week’s cyber news and demonstrate why cyberattacks relate to power. 

An American report recently revealed a Chinese hacking group targeted the Vatican to gain an advantage in diplomatic negotiations. From May to July 21st, the Chinese group was monitoring the activities of the Roman Catholic Church. This is just one of many instances where China has been caught in the act of medaling with confidential systems across the globe. It is because of these constant hacks that officials believe China is attacking systems to exert power and present itself as a leader. 

As one can imagine, the pandemic puts America’s cyber strategy front and center,  vulnerable is not an option when maintaining power in the fifth domain.   Whether the attacks are domestic or international, the intention remains the same. Individuals, business leaders, governments and organizations of all sizes must have the proper cybersecurity in place to remain safe. The consequences could lead to not only a major security breach, but a loss of power as well. 

Key Takeaways

“The MLB, NHL, and NBA may be coming back, but they’re going to have to deal with a minefield of data and privacy issues if they want fans back” – Marcy Wilder & Craig Umbaugh, Business Insider

  • Sports fans may have to give up sensitive health information in order to attend sporting events, but venues must have the proper cybersecurity to keep fans’ health data private
  • Temperature checks at gates, facial recognition technology and health questionnaires are just a few screenings that may take place
  • Teams failing to keep fans’ health data properly secure could lead to major security breaches

“Lawmakers accuse tech giants of using privacy as a weapon to hurt competition” – Alfred Ng, CNET

  • Congress accused tech giants (Google, Amazon, Apple, Facebook) of using online security and privacy measures to gain a competitive advantage
  • Congress believes these tech giants have released apps that are disguised as tracking tactics
  • Personal data such as GPS, search history and email are all in the hands of these companies

“Chinese state-backed hackers infiltrated Vatican, cybersecurity firm says” – Chico Harlan & Stefano Pitrelli, The Washington Post

  • An American cybersecurity firm reported that a Chinese hacking group targeted the Vatican to gain an advantage in diplomatic negotiations
  • The Vatican’s systems have been hacked in the past as well, circa 2012
  • Officials believe China is attacking systems as a way to exert power

Sources:

https://www.businessinsider.com/mlb-nhl-nba-fans-pandemic-solve-data-health-privacy-issues-2020-7

https://www.cnet.com/news/lawmakers-accuse-tech-giants-of-using-privacy-as-a-weapon-to-hurt-competition/

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