Cybersecurity Information Sharing Act Advances in the Senate

In an effort to protect the nation from increasing critical online threats, The Senate Intelligence Committee voted on July 8 to advance a bill that promotes information sharing about cyber threats.

The bipartisan legislation, The Cybersecurity Information Sharing Act (CISA) of 2014, authored by Senate Intelligence Committee chair Dianne Feinstein (D-CA) and vice chair Saxby Chambliss (R-GA), seeks to promote information sharing about cyber threats among government agencies and private sector companies, while offering companies liability protections.

Highly criticized by privacy groups because of the potential implications sharing data would have, opponents are in agreement that legislation such as this will not provide a silver bullet and instead expose those involved to more security risks.

However, it is clear to many in the security industry that this legislation is only a small battle being waged in the monumental war on cybersecurity. The Center for Strategic and International Studies recently released a study sponsored by McAfee Inc. with findings that around $575 billion a year is being lost due to cybercrime.

No corporate entity wants to be source of the next data breach headline, but legislative changes alone will not protect corporations from cyber threats. Operational changes must be implemented in tandem in order to ensure corporations – and their customers – are protected and the nation’s security is not compromised.

As we continue to monitor its progress, contact KoolSpan to find out how you can learn more about how your organization can make the necessary operational changes to mitigate risks of cyber attacks and damaging compliance breaches.

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