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Companies used to be afraid to share cybersecurity information because of antitrust regulations. Today they can, say the Federal Trade Commission (FTC) and the Justice Department. They decided yesterday to exclude sharing cybersecurity data from antitrust concerns. Sharing cybersecurity data helps companies to be better prepared to combat a variety of security threats.
Companies Allowed to Share Cybersecurity Data
FTC and Justice Department officials decided to allow sharing cybersecurity data. They informed companies that they would not be charged based on antitrust regulations.
Lately there has been news of increased server compromise, data breaches and malware that destroys encryption. This prompted the two groups to make an exception for cybersecurity data sharing. Hackers have been stealing data from companies for years. And security experts have recommended sharing cybersecurity data for years. But companies have expressed that they are afraid of antitrust regulations. They don’t want to get into trouble, even if they know they are doing the right thing.
The FTC added that they did not want antitrust laws to become an impediment. They exist to protect data, but are hindering efforts to improve cybersecurity. Companies can now freely share the data that they have collected. This will greatly improve their chances of combating the different threats that they face. For instance, the recent scare over Heartbleed can be more easily fought off if companies work together. Massive data breaches similar to what happened at Target can also be avoided.
Cybersecurity Data Sharing Promotes Web Security
Many security experts believe that freeing companies to share cybersecurity data promotes web security. FTC and Justice Department officials have decided that they are correct. Companies can now take a combined approach to security threats. They can work together and share the working defenses that they develop individually. They can warn each other about any attacks that they have detected. They can be faster and more effective in facing security challenges.