Meet the seven people who hold the keys to worldwide internet security

From: The Guardian

It sounds like the stuff of science fiction: seven keys, held by individuals from all over the world, that together control security at the core of the web. The reality is rather closer to The Office than The Matrix

In a nondescript industrial estate in El Segundo, a boxy suburb in south-west Los Angeles just a mile or two from LAX international airport, 20 people wait in a windowless canteen for a ceremony to begin. Outside, the sun is shining on an unseasonably warm February day; inside, the only light comes from the glare of halogen bulbs.

California to step up cybersecurity efforts after hundreds of data breaches

From: Contra Costa Times/AP

By Don Thompson, Associated Press

SACRAMENTO — California businesses and government agencies have experienced 300 separate data breaches exposing the personal information of more than 20 million customer accounts during the past two years, leading state Attorney General Kamala Harris on Thursday to elevate cybersecurity as a key focus of the state’s top crime-fighting agency.

Harris said the California Department of Justice will begin playing a more active role in advising employers about cybersecurity, while her office will be taking the lead on a previously announced state-level investigation into some of the most significant nationwide data breaches.

President Xi: Efforts needed to make China a cyber power

From: Xinhuanet

Chinese President Xi Jinping will head a central government leading group on cyber security and Internet development. The announcement was made after the first meeting of the group on Thursday.

During the meeting, Xi stressed that Internet security is a major strategic issue that concerns the country’s security and its development. The president said China has to balance the need to develop IT technologies and safeguard Internet security.

He also called for greater independent innovation in core technologies and the construction of infrastructures. He said an enhanced ability to collect, process, spread, utilize and secure information will benefit the general public. The meeting also discussed the need for new legislation and regulations on managing online information and protection of key infrastructure facilities.

Survey finds auditors’ concerns

From: The Nation

Sirivish Toomgum

Regulation, uncertainty and volatility are the top concerns of members of audit committees worldwide, according to a recent survey by KPMG.

The audit committee’s job continues to grow more difficult. Nearly half of committee members surveyed by KPMG indicated that, given their expertise and heavy agenda, it is “increasingly difficult” to oversee major risks, risk-management processes and global compliance, besides the committee’s core responsibilities.

The risks include cyber risk and IT.

Japan says any bitcoin regulation should be international

Editor’s Note: An investor’s guide to bitcoins is available here.

From: Reuters

By Sophie Knight

(Reuters) – Any regulation of the bitcoin crypto-currency should involve international cooperation to avoid loopholes, Japanese vice finance minister Jiro Aichi said on Thursday.

Commenting on the closure this week of Tokyo-based Mt. Gox, once the world’s biggest exchange for the bitcoin virtual currency, Aichi said the ministry would respond to the problems “if necessary”, after finding out exactly what happened.