U.S. President Joe Biden has signed the Better Cybercrime Metrics Act, aiming to improve how the federal government tracks, measures, analyzes and prosecutes cybercrime.
Endorsed by the National Fraternal Order of Police and several national law enforcement organizations, the act will build a system to track cybercriminal incidents to combat rising cyber and cyber-enabled crimes.
Better categorization, says Archie Agarwal, Founder and CEO at ThreatModeler, will, in turn, standardize the kinds of threats organizations face: the adversaries that promulgate attacks, as well as the nature and impact of a successful attack. “As the government mandates and recommends more reporting, organizations will have more examples that mirror their own exposure, as well as associated damages and costs. Disclosure, generally, is something that government departments and private industry fear alike. A mandated reporting standard and taxonomy will make it harder for firms to pave over detail and magnitude of their security incidents using their own marketing and language,” Agarwal explains.