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US government tightens grip on corporate cybersecurity

Friday, July 23, 2021


This follows the ransomware attack on Colonial Pipeline in May. As criminal and state-sponsored cyberattacks intensify, the administration is focusing on threats to US critical infrastructure and the financial system, both primarily private sector-run. The new obligations on companies represent a further policy move away from corporate self-management of cyber threats.


  • Corporates hit by a state-sponsored cyberattack will have to coordinate their response closely with the US administration.
  • Public-private partnerships will be key, given the large private sector role in US critical infrastructure and the financial system.
  • Regulators' next concern will be cyber risk in the fast-growing use of artificial intelligence in financial services.

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