Cybersecurity Private Equity

Cyber TRUST™ Index

124

+1

52 Week

210

120

Index at 100 on January 1, 2020

Twitter, Talent and Teamwork [Weekly Cybersecurity Brief]

As we make our way into 2023, we are continuing to explore the trends that are likely to define cybersecurity pursuits in the new year. Based on this past week’s news stories, Twitter, talent shortages and international coalitions are gearing up to be some of the ongoing focal areas.

Let’s begin with Twitter. Like we previously wrote, Twitter’s headline-grabbing moves have stirred up cybersecurity concerns. And now, the social media company is having to deal with a reported breach. According to Bloomberg, a large-scale database containing information associated with more than 230 million Twitter users was posted anonymously on a hacker forum. Experts think that the database was accessed via a vulnerability in Twitter’s software and potentially exposes data including names and email addresses of politicians, journalists and bankers. This incident follows former Twitter security chief Peiter “Mudge” Zatko’s warning that the platform is plagued with outdated software, leaving its security team in a frenzied state.

While Twitter faces challenges, so is the cybersecurity workforce. On a positive note, a study conducted by (ISC)2 found that the industry continues to grow with a 26% rise in demand for professionals over 2021’s figure. However, this also contributes to the persisting talent gap that has plagued cybersecurity. Essentially, the number of candidates still fails to catch up to the need. As companies strategize for 2023, they must re-frame their recruiting perspective. Rather than searching for “unicorns,” “it is more important to remember that technical skills can often be taught,” writes Sue Poremba for Cybersecurity Dive.

Along with recruitment, another important cybersecurity tactic will be further building strategic partnerships. This is happening on the international stage. As Reuters reports, the United States and Japan recently signed a new version of a memorandum to enhance collaborative efforts on strengthening cybersecurity operations. The U.S. Secretary of Homeland Security Alejandro Mayorkas and Japan’s Minister of Economy, Trade, and Industry Yasutoshi Nishimura came together in Washington to solidify their co-commitment.

Key Takeaways:

“Twitter Security Headaches Mount With User Data Leak Claim” – Jack Gillum and Margi Murphy, Bloomberg
https://www.bloomberg.com/news/articles/2023-01-05/twitter-security-headaches-mount-with-user-data-leak-claim?leadSource=uverify%20wall

  • Twitter was confronted with a new breach impacting more than 230 million users.
  • A large database was reportedly posted anonymously to a hacking forum.
  • Experts think that the database was accessed via a vulnerability in the platform’s software.

“The cybersecurity talent shortage: The outlook for 2023” – Sue Poremba, Cybersecurity Dive
https://www.cybersecuritydive.com/news/cybersecurity-talent-gap-worker-shortage/639724/

  • A study conducted by (ISC)2 found that the cybersecurity industry continues to grow with a 26% rise in demand for professionals over 2021’s figure.
  • This also contributes to the persisting talent gap that has plagued cybersecurity.
  • As companies strategize for 2023, they need to re-frame their recruiting perspective.

“U.S. and Japan agree to step up cybersecurity cooperation” – David Shepardson and David Brunnstrom, Reuters
https://www.reuters.com/technology/us-japan-agree-step-up-cybersecurity-cooperation-2023-01-07/

  • Efforts to further build international cooperation in cybersecurity continue.
  • The United States and Japan recently signed a new version of a memorandum to enhance collaborative efforts on strengthening cybersecurity operations.
  • The U.S. Secretary of Homeland Security Alejandro Mayorkas and Japan’s Minister of Economy, Trade, and Industry Yasutoshi Nishimura came together in Washington to solidify their co-commitment.
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