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In an article posted this past month, we discussed Proposition 24 and the California Privacy Rights Act (CPRA) and how this changed and expanded California’s data privacy legislation. California is merely one of the first states to enact such legislation, however. The legality surrounding the cyber environment is changing nationwide as state governments are developing bills to pass similar rules and regulations. While some of the bills currently in committee may fail, looking at the consistencies between these bills and what is approved can give us a better understanding of where the United States’ cyber environment is headed from a legal standpoint.
Secuvant™ (“Secuvant” or the Company”), a leader in strategic managed security and risk advisory services, today announced its Board of Advisors, which is composed of world-class cybersecurity and technology experts whose role is to help further the Company’s continued success by providing high-level guidance and expertise on Secuvant’s strategy and offerings.
“We are proud and honored to have such a prestigious group of professionals who bring valuable insight into the ever-evolving world of cybersecurity,” said Ryan Layton, Secuvant Founder and CEO. “From health care to transportation to agriculture and construction equipment, their expertise spans a multitude of industries, helping us further expand on our goal of providing widespread peace of mind when it comes to managing cyber risk.”
When it came to cyber risk in 2020, ransomware reigned supreme. Instances of ransomware grew by more than 150% in 2020 alone, and this trend doesn’t look to be going anywhere. There was also a notable increase in the severity of attacks based on a few metrics. For 2020, the average ransom demanded increased by over twofold and amounted to $170,000 on average. Affected organizations also experienced 18 days of downtime on average due to attacks, and before encrypting data for impact, ransomware operators spent on average 13 days in compromised networks.