WyzGuys Tech Talk

A quick Saturday digest of cybersecurity news articles from other sources.

LLC Costs: How Much It Costs to Form an LLC Today

Bob says As many of my readers know, I started my own business in 2001, worked it part time or full-time as corporate IT jobs came and went. Eventually in 2006 I took the business full-time.

There is a guide that can help you do the same thing if you are interested.  LLC Costs: How Much It Costs to Form an LLC Today covers a lot of ground on the legal requirements of a business formation.

By Samantha Taylor

Forming a limited liability company (LLC) allows cybersecurity consultants and service providers to limit personal liability and obtain tax advantages. However, business owners should factor in both initial filing costs and ongoing maintenance fees required for an LLC. According to recent data, filing fees to establish an LLC range from $40-$220 depending on the state. Many states also require annual report fees from $0-$300 per year to keep the LLC active and maintain its protections.

While LLC costs are relatively small compared to other startup expenses, they should not be overlooked in the budgeting process. Cybersecurity entrepreneurs should research the specific fees in their state and factor them into financial planning. The ongoing yearly or biennial state fees may need to be accounted for as long as the LLC remains active. Planning for these costs from the start when forming an LLC can prevent financial issues down the road.  Follow the link to find out How Much Does Forming an LLC Really Cost?

Russian and Chinese Disinformation Campaigns Target US Presidential Elections

Russia is not the only global problem that democracy has to deal with. The Chinese regime ran large influence campaigns, attempting mass social engineering in the U.S. 2022 midterm elections, according to a declassified intelligence report and multiple private-sector investigations. We can expect the same in 2024.

The intelligence report has shed light on the Chinese regime’s involvement in the U.S. 2022 midterm elections, where they reportedly used various tactics to influence the outcome.

According to the findings, these tactics ranged from retaliation against specific U.S. lawmakers to promoting divisive content online, and even impersonating American voters. This multifaceted strategy aimed to sway public opinion and election results in favor of candidates who might support China’s policies, regardless of their political party.  More…

Canada’s New Cybersecurity Law

Work on the second plank of the Liberal government’s cybersecurity and privacy strategy started Monday afternoon.

That’s when the House of Commons Standing Committee on Public Safety and National Security opened hearings on Bill C-26, which amends legislation governing telecommunications companies and creates the Critical Cyber Systems Protection Act (CCSPA).

“This legislation is among the most important safety and regulatory regimes of a generation,” says David Shipley, head of New Brunswick’s Beauceron Security and co-chair of the Canadian Chamber of Commerce’s cyber council.

“We have to both get it right and get it done. We’ve mostly gotten it right, with a few surgical tweaks needed. We’ve been abysmal at getting it done.

“Canada is woefully behind the United States, Australia and Europe when it comes to the protection of our critical infrastructure,” he said. “We had the airport equivalent of a near miss between two planes last year where an amateur Russia hacking team almost made a Canadian pipeline explode. They had access and were given the green light by their GRU handler. It was good fortune that saved us, not good defences and good planning.

“We don’t want to see what happens when good fortune runs out.”

If C-26 passes, for the first time there will be legislated security obligations for “high-risk firms” in six of Canada’s critical infrastructure sectors — telecommunications providers, banks, financial clearing systems, interprovincial energy providers, nuclear energy stations, and transport companies.  More..

Agencies: Chinese drones may pose security risks

DJI, the biggest manufacturer of drones, issued a rebuttal to guidance from the Cybersecurity and Infrastructure Security Agency and FBI on drones from China that had expressed concerns about national security and infrastructure. DJI pointed to security protections and third-party audits that prioritize security and data privacy.  More..

Data shows ransomware with exfiltration more effective

Researchers looked at data on nearly 500 ransomware attacks from 2019 to 2023 and found those with data exfiltration resulted in a higher payment probability and amounts than those with just encryption. Organizations that had backup data were less likely to pay off attackers and those with insurance coverage paid more ransom, the researchers found.  More…