SEC Regulation Changes, Deepfake Detection Surge, and Microsoft's MFA Enforcement

The Security and Exchange Commission (SEC) has recently adopted changes to Regulation S-P, which now requires financial institutions to disclose security breaches within 30 days of learning about them. These amendments also expand safeguards and disposal rules, mandate written compliance records, and extend the rules to transfer agents. The primary goal of these new requirements is to protect the privacy of customers' financial data and ensure prompt notification in case of a breach.The EPA has issued an enforcement alert warning about the increasing frequency and severity of cyber attacks against water utilities in the U.S. The agency found that about 70 percent of utilities inspected in the past year violated standards meant to prevent breaches. Recent attacks by groups affiliated with Russia and Iran have targeted smaller communities. The EPA urged water systems to improve protections against hacks, including changing default passwords and cutting off system access to former employees.Microsoft's decision to enforce multi-factor authentication (MFA) for all accounts by the end of the year is a significant step towards enhancing cybersecurity measures. The episode highlights that over 99.99% of MFA-enabled accounts have successfully resisted hacking attempts, emphasizing the effectiveness of this security measure. Admins are encouraged to enable MFA in their tenants before the rollout, and they can monitor MFA registration using authentication methods, registration reports, and PowerShell scripts. Three things to know today00:00 SEC Adopts Changes to Regulation S-P: Strengthening Privacy and Data Protection03:40 Surge in Untested Deepfake Detection Services without High Accuracy 05:59 Microsoft to Enforce Multi-Factor Authentication for All Accounts by Year-End   Supported by:  https://huntress.com/mspradio/ All our Sponsors:   https://businessof.tech/sponsors/     All our Sponsors:   https://businessof.tech/sponsors/ Do you want the show on your podcast app or the written versions of the stories? Subscribe to the Business of Tech: https://www.businessof.tech/subscribe/Looking for a link from the stories? The entire script of the show, with links to articles, are posted in each story on https://www.businessof.tech/ Support the show on Patreon: https://patreon.com/mspradio/ Want to be a guest on Business of Tech: Daily 10-Minute IT Services Insights? Send Dave Sobel a message on PodMatch, here: https://www.podmatch.com/hostdetailpreview/businessoftech Want our stuff? Cool Merch? Wear “Why Do We Care?” - Visit https://mspradio.myspreadshop.com Follow us on:LinkedIn: https://www.linkedin.com/company/28908079/YouTube: https://youtube.com/mspradio/Facebook: https://www.facebook.com/mspradionews/Instagram: https://www.instagram.com/mspradio/TikTok: https://www.tiktok.com/@businessoftechBluesky: https://bsky.app/profile/businessoftech.bsky.social