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Daily Archives: September 21, 2016

Paper – Examining the costs and causes of cyber incidents

Examining the costs and causes of cyber incidents, Sasha Romanosky, Journal of Cybersecurity, DOI: http://dx.doi.org/10.1093/cybsec/tyw001. First published online: 25 August 2016.

“In 2013, the US President signed an executive order designed to help secure the nation’s critical infrastructure from cyberattacks. As part of that order, he directed the National Institute for Standards and Technology (NIST) to develop a framework that would become an authoritative source for information security best practices. Because adoption of the framework is voluntary, it faces the challenge of incentivizing firms to follow along. Will frameworks such as that proposed by NIST really induce firms to adopt better security controls? And if not, why? This research seeks to examine the composition and costs of cyber events, and attempts to address whether or not there exist incentives for firms to improve their security practices and reduce the risk of attack. Specifically, we examine a sample of over 12 000 cyber events that include data breaches, security incidents, privacy violations, and phishing crimes. First, we analyze the characteristics of these breaches (such as causes and types of information compromised). We then examine the breach and litigation rate, by industry, and identify the industries that incur the greatest costs from cyber events. We then compare these costs to bad debts and fraud within other industries. The findings suggest that public concerns regarding the increasing rates of breaches and legal actions may be excessive compared to the relatively modest financial impact to firms that suffer these events. Public concerns regarding the increasing rates of breaches and legal actions, conflict, however, with our findings that show a much smaller financial impact to firms that suffer these events. Specifically, we find that the cost of a typical cyber incident in our sample is less than $200 000 (about the same as the firm’s annual IT security budget), and that this represents only 0.4% of their estimated annual revenues.”

Kaiser – How Much Has Medicare Spent on the EpiPen Since 2007?

Kaiser Data Note: “The latest example of high and rising prescription drug prices to attract significant media and public attention relates to the EpiPen, an auto-injector containing the drug epinephrine which is used to reverse the effects of severe allergic reactions. Since Mylan acquired the EpiPen from Merck in 2007, the company has increased the… Continue Reading

The Atlantic – What Congress Is Actually Good at

Michelle Cottle is a contributing editor at The Atlantic: “Because while some of Congress’s flashier oversight crusades reek of politics, the committees are in many ways doing the Lord’s work. It’s just that no one hears much about the not-so-sexy, not-so-partisan probes that actually seek to improve government. “No doubt there have been some abuses… Continue Reading

Federal Reserve issues FOMC statement September 21 2016

Release Date: September 21, 2016: “Information received since the Federal Open Market Committee met in July indicates that the labor market has continued to strengthen and growth of economic activity has picked up from the modest pace seen in the first half of this year. Although the unemployment rate is little changed in recent months,… Continue Reading

Duke University Libraries receive grant to transform prison into farm and education center

News release: “The Duke University Libraries have received a $52,647 grant from the State Farm Youth Advisory Board to help transform an abandoned prison into a sustainable farm and education center through the magic of virtual reality. “It’s not easy to visualize how an abandoned and unused prison can be repurposed to help a struggling… Continue Reading

Researching Current Federal Legislation and Regulations: A Guide to Resources for Congressional Staff

Researching Current Federal Legislation and Regulations: A Guide to Resources for Congressional Staff, Jerry W. Mansfield, Lead Information Services Coordinator. September 19, 2016. “This report is designed to introduce congressional staff to selected governmental and nongovernmental sources that are useful in tracking and obtaining information on federal legislation and regulations. It includes governmental sources, such… Continue Reading

World University Rankings 2016-2017 results announced

News release: “The University of Oxford has become the first UK university to top the Times Higher Education World University Rankings in the 12-year history of the table. It knocks the five-time leader, the California Institute of Technology, into second place in the World University Rankings 2016-2017. World University Rankings 2016-2017: Standing still is not… Continue Reading

CRS – Nanotechnology: A Policy Primer

Nanotechnology: A Policy Primer. John F. Sargent Jr., Specialist in Science and Technology Policy. September 15, 2016. “Nanoscale science, engineering, and technology—commonly referred to collectively as “nanotechnology”—is believed by many to offer extraordinary economic and societal benefits. Congress has demonstrated continuing support for nanotechnology and has directed its attention particularly to three topics that may… Continue Reading