Regulation

Stronger cybersecurity regulations expected this year

Companies are expected to comply with more stringent cybersecurity regulations this year amid workforce challenges, The Wall Street Journal reports.

The widespread SolarWinds and Microsoft hacks in early 2021 which have been attributed to Russian and Chinese state-sponsored threat actors, respectively, have prompted President Joe Biden to issue a presidential executive order in May that mandates cyberattack reporting among some critical infrastructure sectors. Last year also saw the confirmation of National Cyber Director Chris Inglis, who will be leading the cybersecurity efforts of the government.

"The recognition of the impact that a ransomware attack on a commercial critical infrastructure sector can have on our nation, I think accelerated the need for the government to have a more coordinated and focused response," said Booz Allen Hamilton Executive Vice President Brad Medairy.

However, significant ransomware attacks against Kaseya and food processing firm JBS SA are poised to prompt increased cyber requirements for critical infrastructure firms, according to Sidley Austin LLP Partner Sujit Raman.

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