In July of this year, the Office of the National Cyber Director (ONCD) stated in its release of an RFI on regulatory harmonization that: “When cybersecurity regulations of the same underlying technology are inconsistent or contradictory—or where they are duplicative but enforced differently by different regulators … consumers pay more, and our national security suffers.” This is an understatement. SecurityScorecard agrees and was happy to share our comments with ONCD today.

In cybersecurity, the terms “trust” and “transparency” are often mentioned. And while they should no doubt be a priority, they can also be difficult to quantify. Good CISOs recognize that transparency in cybersecurity isn’t a one-time effort. It’s a continuous process that involves a near-constant state of evolution. But with the right tools and systems in place, it’s possible to not only measure trust and transparency but improve them as well.

CISOs and security leaders are constantly being reminded that cyber risk is now a business risk. And at the same time, organizations are realizing the financial implications of not having cyber expertise on their boards.

Cloud platforms offer unparalleled scalability, flexibility, and cost-efficiency. However, the convenience and advantages of the cloud are accompanied by significant security challenges. Hackers are constantly trying to exploit weak cloud configuration settings, which is why it’s important to have visibility into the security of your organization’s cloud infrastructure.

Cybercrime is on the rise. By 2025, the cost of cybercrime around the world is estimated to escalate to $10.5 trillion, based on a year-over-year increase of 15%. This number represents the potential for the largest transfer of economic wealth in history and exceeds even the total global profits from the illegal drug trade.

The traditional enterprise risk model is a thing of the past. Cybersecurity risk cascades into almost every part of an organization, triggering legal fallout, technology risk, compliance issues, and more. Bottom line, third-party cyber risk is a material business risk. A recent report found that 80% of organizations experienced at least one data breach caused by a third party last year.

SecurityScorecard is proud to announce that it has achieved the Ready Designation under the Federal Risk and Authorization Management Program (FedRAMP). This designation demonstrates SecurityScorecard’s commitment to the rigorous security standards required by the U.S. government for cloud service providers, and it will enable the company to meet growing demand from U.S. federal agencies for its Third-Party Cyber Risk Management Platform. U.S.

In late August, Microsoft published its analysis of espionage activity tied to a new threat actor group called Flax Typhoon, which is believed to operate on behalf of the People’s Republic of China (PRC). The group mainly targets Taiwanese critical infrastructure, including: government, education, manufacturing, and information technology sectors.

With the average cost of a data breach now at $4.35 million, it’s time for organizations to take proactive measures to protect themselves against cyber threats. By conducting thorough security testing, organizations can gain a deeper understanding of their security posture and make informed decisions about where to allocate their resources to improve their overall cybersecurity readiness.