Department of Energy Makes $201 Million Request To Congress For Cybersecurity Measures
A total of $201 million has been requested to congress by the Department of Energy. The request has been made in an effort to address vulnerabilities in digital for fiscal 2022. The department had requested $157 million in fiscal 2021. The Department of Energy is hoping that the money will give them a much-needed boost to enhance cybersecurity 2021 efforts. This has proven to be one of the biggest cybersecurity news stories.
As technology becomes more advanced, cybersecurity efforts have needed to be tightened up over the years. Many websites and apps have confidential information on file. Cybercriminals attempt to gain access to this data. Many companies have been victims of data breaches. This can lead to stolen credit card information and even identity theft. Some of the companies that have been impacted by data breaches are Yahoo! and Sony.
Jennifer Granholm, Secretary of Energy, admitted that more funding is needed for software upgrades, the development of new cyber policies, and the hiring of extra professionals in cybersecurity. Granholm says that while the department has standards in its electricity sector, it does not when it comes to cyber. There has been an uptick in ransomware attacks when it comes to the gasoline pipeline.
Congress received a request for $9.8 billion by the Biden administration. This was almost 15 percent more than the request made for fiscal 2021. The funding would go towards federal civilian cybersecurity 2021. The Pentagon has also made a request for $10.4 billion. The increase in ransomware attacks has resulted in the requests being at a higher price than last year.
Ransomware encrypts files that are found on a network or device. This renders the system inoperable. Usually, cybercriminals demand payment for the release of these encrypted files. Colonial Pipeline ended up paying criminals $5 million to have important data freed from encryption. Law enforcement officials from the United States ended up getting $2.3 million back from the people involved in the hacker group.
Ultimately, companies are investing in cybersecurity now more than ever. The government is well aware of the dangers of ransomware, which has proven to be costly. POTUS Joe Biden has said that some businesses should simply be off-limits due to how crucial these businesses are. The best cybersecurity news for businesses would be a sharp decline in cybercrime. In the meantime, companies will continue to make efforts to protect their personal data and systems.