The U.S. government is working with the private sector to bolster the country’s cybersecurity, the White House recently announced. During a meeting on Aug. 25, President Joe Biden called on companies to “raise the bar on cybersecurity” and outlined a number of initiatives to address the growing threat of cybercrime, including plans for the National Institute of Standards and Technology to work with industry partners on new cybersecurity guidelines.
The news came just months after a May ransomware attack temporarily shut down the Colonial Pipeline, one of the largest fuel pipelines in the U.S., causing gas shortages and consumer panic-buying. This and other recent cyberattacks threatening American infrastructure make cybersecurity a fitting national priority, said Matthew Lefchik, Director, Cyber Risk Management, Node International, Detroit/Farmington Hills, Michigan.
“The Colonial Pipeline attack was so significant because it really disrupted consumers,” he said. “The government is seeing these recent attacks impacting the supply chain and getting involved not only because of the impact on consumers, but also there is relevance to who these bad actors are, and we do not want to be paying them.”
Insurance carriers have also joined the Biden administration’s plans to combat cybercrime, with one provider saying policyholders will need to meet certain cybersecurity standards to access Cyber & Privacy Liability Insurance coverage, and another committing to make cyber risk assessments and monitoring free for any organization, the White House noted in its announcement.
The government is seeing these recent attacks impacting the supply chain and getting involved not only because of the impact on consumers, but also there is relevance to who these bad actors are, and we do not want to be paying them.
Matthew Lefchik
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