CYBERSECURITY CHALLENGES FOR SMALL AND MIDSIZE BUSINESSES
48 Treasury Department Report to the President on Cybersecurity Incentives Pursuant to Executive Order 13636, 24 (2014), available at http://www.treasury.gov/ press-center/Documents/Supporting%20Analysis%20 Treasury%20Report%20to%20the%20President%20 on%20Cybersecurity%20Incentives_FINAL.pdf 49 FireEye, Cybersecurity Strategies for Small to Medium-Sized Businesses, 3 (2014), available at https://www2.fireeye. com/WEB2013WPCybersecurityStrategiesforSMB_ closing-critical-security-gaps.html. 50 Javier Ortiz, Cyber Espionage should concern us all, The San Diego Tribune (July 4, 2015), available at http:// www.sandiegouniontribune.com/news/2015/jul/04/cyberespionage-should-concern-us-all/. 51 United Kingdom Department for Culture, Media & Sport
ABOUT THE AUTHOR
and Ed Vaizey MP, New £5000 Government grant for small businesses to boost cyber security (July 16, 2015), available at https://www.gov.uk/government/news/new5000-government-grant-for-small-businesses-to-boostcyber-security. 52 In addition to prosecuting cybercriminals, government agencies can address systemic cybersecurity risks by using their regulatory authority to ensure that firms adopt a cybersecurity posture that will protect both themselves and their customers. For example, as discussed in footnote 35, supra, the Federal Trade Commission has authority to bring enforcement actions against companies that fail to implement reasonable and appropriate cybersecurity protocols for consumers’ sensitive personal information. 53 Testimony of Richard Bejtlich, Chief Security Strategist, FireEye, Inc., before the U.S. House of Representatives Committee on Oversight and Government Reform Subcommittee on Information Technology (Mar. 18, 2015), available at http://docs.house.gov/meetings/GO/ GO25/20150318/103183/HHRG-114-GO25-WstateBejtlichR-20150318.pdf. 54 The FBI’s recent announcement of a $3 million bounty for information leading to the arrest of a Russian hacking suspect who stole more than $100 million since 2011 is one example of how the FBI is actively pursuing the most dangerous cybercriminals. See Conor Gaffey, FBI Issues $3 million Bounty for Russian Hacker, Newsweek (Feb. 25, 2015), available at http://europe.newsweek.com/fbiissues-3-million-bounty-russian-hacker-309288.
48 CYBER SECURITY REVIEW, Autumn 2015
Luis A. Aguilar has been a Commissioner at the U.S. Securities and Exchange Commission since July 31, 2008. He was appointed by President George W. Bush and reappointed by President Barack Obama. Prior to his appointment, his practice included matters pertaining to general corporate and business law, international transactions, investment companies and investment advisers, securities law, and corporate finance. Commissioner Aguilar represents the Commission as its liaison to the North American Securities Administrators Association. Commissioner Aguilar has received numerous awards in recognition of his work as an attorney and for his efforts in promoting diversity. He is a graduate of the University of Georgia School of Law, and also received a master of laws degree in taxation from Emory University. Commissioner Aguilar serves as sponsor of the SEC’s Hispanic and Latino Opportunity, Leadership, and Advocacy Committee, the African American Council, and the Caribbean American Heritage Committee.