Finally the US Congress (Senate & House of Representatives) have the opportunity to pass some meaningful legislation – Senate Bill 536 aka The Cybersecurity Disclosure Act of 2017. Like most new legislation this is far from perfect, but it is a good starting point. You see, just about every month we here at UTB Blogs report about a hack or vulnerability which has put hundreds of thousands or millions of people at risk as their name, address, age, phone number and perhaps personal financial or medical information is spread on the Dark-Web by ne’er do wells. Many times it’s not due to the consumers’ oversight but to an employee at a large corporation not being properly trained or not following the training they were provided. Most data breaches are due to employees leaving a laptop unattended and it gets stolen or by an employee falling for a phishing scam. Not only does the consumer waste hours upon hours of their time trying to rectify things with credit reporting agencies, companies lose goodwill as they have lost the public trust. Some of you may think that goodwill is a nebulous concept but look no further than the recent Yahoo! deal and you can see the direct impact of this management oversight (a reduction of $350,000,000 in sales price!!).
The reason I consider the bill a good a good start but far from ideal is that it lifts the veil concerning corporate cybersecurity but in all actuality it has no teeth. Not until legislation is passed that hits corporations where it hurts most – in their pocketbook. Hopefully former New York City Mayor Rudy Giuliani who serves as the White House Cybersecurity Advisor for the Trump administration can exert some influence resulting in BlackBerry’s UEM getting front and center by Making our Data Great Again!