This week’s Cyber Pulse Mid-Week Briefings cover Australia’s new Cyber Security Bill, rising ransomware claims, Zscaler's AI-driven platform growth, and cyber threats from East Asia, including Chinese influence operations, North Korean tech theft, and costly global data breach claims.
Visa boosts AI fraud detection with Featurespace acquisition, lifting its stock; Experian expands Latin American security by acquiring ClearSale; Booz Allen shares cyber expertise at Singapore International Cyber Week; Torq secures $70M for global growth; SentinelOne and Okta shine in top awards.
With OpenAI’s shift to a $157 billion for-profit model, CEO Sam Altman maintains its mission to "benefit humanity." However, as investors seek high returns and Altman stands to gain equity, doubts arise over who truly benefits from OpenAI’s growth—society or its shareholders?
Biden Admin. Addresses US Port Security Challenges Posed By China
The US is bolstering port cybersecurity due to concerns over Chinese-made cranes. Biden's executive order will mandate enhanced cybersecurity and reporting, targeting potential espionage and cyber risks from China's dominance in US port infrastructure.
US Takes Cybersecurity Steps Against ‘Risk’ Posed By China
US President Joe Biden and the American coastguard are taking measures to address cybersecurity concerns related to China's presence in the country's port infrastructure.
Biden will sign an executive order mandating maritime vessels and facilities to enhance their cybersecurity and report cyber incidents.
Over the next five years, the administration plans to invest over $20 billion in US port infrastructure, including efforts to bring American crane manufacturing onshore.
Rear Admiral Jay Vann, commander of the US Coast Guard Cyber Command, announced cybersecurity requirements for owners and operators of Chinese-manufactured cranes in the US.
The coastguard, housed under the Department of Homeland Security, will establish baseline cybersecurity requirements for the entire marine transport system.
US officials fear that Beijing could remotely manipulate Chinese-manufactured cranes to disrupt goods flow and gather information on US military shipments.
Lawmakers have expressed concern about security risks posed by cranes from Shanghai Zhenhua Heavy Industries (ZPMC), a state-owned company, citing cyberattacks, espionage, and supply chain vulnerabilities.
Chinese-made ship-to-shore cranes dominate the global market, constituting nearly 80% of cranes at US ports. The coastguard has assessed the cybersecurity of 92 Chinese-made cranes out of over 200 installed at American ports.
The embassy of China in Washington dismisses these concerns as "paranoia-driven" attempts to hinder bilateral trade and economic cooperation.
Besides tensions with China, the Biden administration is also motivated by the threat of criminal cyber activity, prompting the executive order to broaden the coastguard's authorities in responding to cyber threats.
This includes giving the coastguard control over vessels presenting known or suspected cyber threats.
Concerns extend beyond economic considerations to potential national security risks associated with cyber threats and criminal activities.
With OpenAI’s shift to a $157 billion for-profit model, CEO Sam Altman maintains its mission to "benefit humanity." However, as investors seek high returns and Altman stands to gain equity, doubts arise over who truly benefits from OpenAI’s growth—society or its shareholders?
Google is investing $1 billion in Thailand to expand AI and cloud infrastructure, while Meta is setting up manufacturing for its Quest 3S in Vietnam. Both moves position Southeast Asia as a key player in the global AI arms race, with tech giants racing to dominate the region’s digital economy.
Governor Gavin Newsom vetoed Senate Bill 1047, which would have enforced strict safety measures for AI models with over $100M in funding. He argued the bill’s focus was too broad and advocated for more targeted AI regulations that address risks from smaller, less costly systems.
Europe faces a critical choice: embrace AI innovation or enforce restrictive regulations? Fragmented rules risk leaving Europe behind in AI advancements and economic growth. Clear, unified policies are key to keeping Europe competitive in the global AI race.