Cisco faces fallout from a massive data leak exposing critical files, while China accuses the U.S. of cyber espionage amid rising tech tensions. AI governance sparks debate as Europe enforces strict rules, and ASIC sues HSBC for $23M scam failures. Global cyber affairs take center stage this week.
ASIC is suing HSBC Australia over $23M in scam losses, alleging systemic failures in fraud detection and delays in resolving complaints. Meanwhile, Singapore's proposed anti-scam law aims to freeze accounts of scam victims to prevent further losses, sparking debate on privacy and autonomy.
Broadcom joins Nvidia in the $1 trillion club, reshaping the AI chip race with a 51% revenue surge in Q4 2024 and VMware's $69B acquisition. As China invests $25B to boost semiconductor self-reliance, U.S.-China tensions escalate, redefining global innovation and geopolitical power dynamics.
CISA and International Partners Release New Network Security Guidance
In a significant move towards strengthening global cybersecurity frameworks, the Cybersecurity and Infrastructure Security Agency (CISA), in collaboration with the Federal Bureau of Investigation (FBI), has unveiled new guidance titled "Modern Approaches to Network Access Security."
In a significant move towards strengthening global cybersecurity frameworks, the Cybersecurity and Infrastructure Security Agency (CISA), in collaboration with the Federal Bureau of Investigation (FBI), has unveiled new guidance titled "Modern Approaches to Network Access Security."
This initiative sees a convergence of efforts from international partners including New Zealand’s Government Communications Security Bureau (GCSB), New Zealand’s Computer Emergency Response Team (CERT-NZ), and the Canadian Centre for Cyber Security (CCCS).
This newly released guidance underscores the urgent need for businesses of all sizes to transition to more advanced security solutions, such as Zero Trust, Secure Service Edge (SSE), and Secure Access Service Edge (SASE).
These frameworks aim to enhance visibility into network activities and mitigate risks associated with traditional remote access and VPN configurations, which have become increasingly vulnerable in the face of sophisticated cyber threats.
CISA's Cross-Sector Cybersecurity Performance Goals (CPGs) play a crucial role in this initiative. These goals represent a common set of protections that all critical infrastructure entities—from large to small—should implement to meaningfully reduce the likelihood and impact of known risks and adversary techniques.
Developed through extensive consultation with industry, government, and experts, the CPGs provide a baseline set of cybersecurity practices with high-impact outcomes, serving as a benchmark for critical infrastructure operators to measure and improve their cybersecurity maturity.
By adopting these practices, small- and medium-sized organisations can prioritise essential security actions, thus kickstarting their cybersecurity efforts. The CPGs are unique as they address both individual and national risks, combining recommended practices for information technology and operational technology owners.
Released on November 22, 2023, the 2023-2030 Australian Cyber Security Strategy aims to position Australia as a global leader in cybersecurity by 2030.
The strategy emphasises six key cyber shields: strong businesses and citizens, safe technology, world-class threat sharing and blocking, protected critical infrastructure, sovereign capabilities, and resilient regional and global leadership.
The Australian Government has taken concrete steps by appointing a Cyber Coordinator lead by military intelligence veteran Michelle McGuinness In charge to responding to major cyber incidents and by enhancing cyber incident reporting through Project REDSPICE. The one-stop shop at cyber.gov.au simplifies incident reporting, making it easier for businesses to meet their regulatory obligations.
The release of guidance by CISA and its international partners marks a positive step towards concerted global cybersecurity cooperation.
This collaborative approach helps establish a unified framework for network access security, enhances threat intelligence sharing, and promotes the adoption of cutting-edge security models. As businesses worldwide grapple with evolving threats, adherence to this guidance is crucial in safeguarding network access and maintaining robust security postures.
ASIC is suing HSBC Australia over $23M in scam losses, alleging systemic failures in fraud detection and delays in resolving complaints. Meanwhile, Singapore's proposed anti-scam law aims to freeze accounts of scam victims to prevent further losses, sparking debate on privacy and autonomy.
The Pacific tech war intensifies as Trump's return to power amplifies U.S. export bans, targeting China’s AI progress. ByteDance, Nvidia's largest Chinese buyer, counters with bold strategies like crafting AI chips and expanding abroad. A fragmented 2025 looms, redefining tech and geopolitics.
Australia pushes tech giants to pay for local journalism with new laws as Meta faces a global outage, raising concerns over platform reliability. Meanwhile, Meta joins hyperscalers like Google and Amazon, exploring nuclear energy to power AI ambitions and unveils a $10B AI supercluster project.
Christopher Wray resigns as FBI Director, signaling a shift under Trump. With Kash Patel as a potential successor, concerns grow over the FBI's independence and its impact on cybersecurity, financial crimes, and corporate governance.