Government Contractors are Forced to Develop Cyber Security

Wednesday February 17, 2016

Wendy600px"Does your business work as or with a government contractor? President Obama's spending on cyber security will put a spotlight on the security programs that are in place for government contractors." Wendy Light | wlight@peabodyinc.com Article Courtesy of: Samuel Rubenfeld and The Wall Street Journal The Morning Risk Report: Federal Cyber Spending Increases Company Oversight President Barack Obama‘s big requested increase in federal spending on cybersecurity will generate a lot more attention on government contractors, forcing them to work harder on their own security to keep government business, experts told Risk & Compliance Journal. Federal agencies would, under the request, receive billions to upgrade their information systems in the wake of massive attacks on the Office of Personnel Management, and more recently on the Departments of Homeland Security and Justice, noted Ari Schwartz, managing director of cybersecurity services at law firm Venable. In the past, he said, most federal spending on cybersecurity went to Homeland Security and Justice to help protect the other agencies, but now the agencies themselves will improve their own systems. “For government contractors, there’s been a major effort to step up [cyber] compliance within the supply chain,” said Mr. Schwartz. But Joseph DeMarco, an attorney with the law firm DeVore & DeMarco LLP, said it’s important to spend smartly, because it’s easy to spend big and spend dumb on something like cybersecurity. “In the rush to deal with cybercrime, billions will be wasted on utterly feckless cybersecurity initiatives and that’s a real concern. I tell my clients: Before you think about spending big, spend smart,” he said. Article Courtesy of: Samuel Rubenfeld and The Wall Street Journal