When CIOs talk about platforms, they’re usually referring to digital rather than political ones. But as Americans head to the polls, corporate tech leaders should be paying close attention to what a second Trump administration, or a first Biden one, could have in store for them.



The outcome of the contest will have profound consequences for skilled immigration, data privacy regimes, the regulation of AI and other issues such as cybersecurity that all matter to CIOs. It will also shape how America deals with China as a competitor and trading partner—a fraught relationship that’s sparked concerns over high-tech supply chains and the security of 5G communications networks<a href="https://www.forbes.com/sites/davidjeans/2020/10/09/huawei-rivals-nokia-ericsson-27-billion-us-sanctions/#7249ea2bde48">&nbsp;using equipment from Huawei and other Chinese firms</a>.



The election will also help determine whether America can sustain its role as a global innovation leader. The Information Technology and Innovation Foundation (ITIF), a think tank with close links to the tech industry, points out that the U.S. would need to spend at least an additional $100 billion a year, or an increase of around 80% over current spending levels, just to match what it was investing in research as a percentage of GDP back in the 1980s.



“The reality is that America is no longer the global innovation leader, at least on a per capita basis, and it risks losing out to China over the next decade or two,” the ITIF wrote in a recent study of the likely impact of the upcoming election on tech policy. “Whether or not the two major parties understand this threat and want to prioritize it is unclear.”



<h3 class="wp-block-heading">Tackling China</h3>



What is clear is that tensions over high-tech trade with China are likely to remain high under either a second Trump administration or a first Biden one. But the tactics a Biden presidency would adopt are likely to be quite different to those of its predecessor.



Speaking at the<a href="https://www.forbes.com/connect/event/forbes-cio-next-virtual-episode1/">&nbsp;Forbes&nbsp;CIO Next virtual summit</a>&nbsp;held on October 27, Darrell West, an expert on technology policy at the Brookings Institution, said that if President Trump is re-elected, he’s likely to continue his aggressive and unpredictable, go-it-alone policy towards pressuring China for trade concessions. “A company may wake up one day thinking they are a friend of the administration and the next day become a target,” said West.



A Biden presidency is likely to keep up the pressure on China, too, but will almost certainly create a clear set of processes for handling trade negotiations on high-tech and other issues. West thinks it will also want to forge a more united front with the European Union on dealing with the Chinese. While this approach may make it easier for CIOs and other executives to assess supply chain risks in dealing with Chinese manufacturers, both presidential candidates are likely to maintain U.S. efforts to keep hardware from China and other suppliers out of 5G networks in America and other countries on national security grounds.



With Chinese companies pulling ahead in areas such as<a href="https://www.forbes.com/sites/anthonytrippe/2020/08/31/china-is-gunning-to-be-the-world-leader-in-ai-chips-while-restricting-exports/#392b0c186d4e">&nbsp;chips that power artificial intelligence (AI) applications</a>, the issue of how the U.S. government can better support domestic innovation will be on the table no matter who becomes president. Neither candidate looks likely to bring government spending as a percentage of GDP back to 1980s levels, but the Biden camp has pledged to invest an additional $300 billion over four years to help close some of the gap. If he is re-elected, President Trump is likely to continue his current policy of reducing overall government support on R&amp;D while boosting investment<a href="https://www.forbes.com/sites/martingiles/2020/08/14/us-to-boost-ai-quantum-funding-in-2021/#291bef1521dd">&nbsp;in some key areas such as AI, quantum information science and advanced manufacturing</a>.



On cybersecurity, both candidates would likely step up efforts to protect U.S. companies and critical infrastructure such as electrical grids from cyberattacks. West thinks a Biden administration could press for a kind of Geneva convention on cyber arms control, whereas if President Trump is re-elected his administration will keep pursuing a more unilateral approach. If the Democrats win the presidency and perhaps carry the Senate too, they may also push for a mandatory regime that requires companies to report hacks to a national database. Republicans, on the other hand, are more likely to leave breach reporting requirements to individual states.&nbsp;



<h3 class="wp-block-heading">Importing talent</h3>



Finding enough skilled workers is one of CIOs’ biggest concerns, so they will be hoping for an easing of restrictions on H1-B visas and other channels that the present Trump administration has been restricting.



Robert Atkinson, the president of the ITIF, thinks a Biden administration will expand skilled immigration whereas a second Trump one is likely to extend the current crackdown. However, he cautions that if Biden wins, companies can’t count on a swift increase in H1-Bs. “There are a lot of folks on the left [of the Democratic party] who have pushed back on H1-Bs because these are seen as undermining U.S. wages,” he says. “You could instead see an expansion of other avenues and vehicles to bring in high-skilled workers.”



Atkinson also thinks that if Biden carries the White House, CIOs could find<a href="https://www.forbes.com/sites/marksettle/2020/10/20/the-proper-path-to-achieving--automation-at-scale/#2f8df7ef2a4a">&nbsp;robotic process automation (RPA) strategies</a>, which use software to take over tasks from workers, under intense political scrutiny because of fears these will destroy jobs and crater wages. “In a Biden administration, companies will have to be much more careful and cautious about how they portray this. Trump doesn’t mind automation; he minds offshoring.”



Companies’ automation drives could be blunted in other ways. For instance, tax reforms in 2018 made it possible for businesses to immediately deduct the entire cost of equipment purchases from taxable income; previously, they had generally only been allowed to write off a portion of the cost in a single year. This encouraged CIOs and other executives to accelerate purchases of everything from robots to servers. However, the changes will come up for review in a couple of years and a Biden administration would be less likely to push for an extension.



If Biden wins the election, CIOs will almost certainly face tougher rules on data privacy. Both candidates are in favor of a national consumer privacy regime to replace the present mix of different state ones, but the Democrats are more likely to push for<a href="https://www.forbes.com/sites/waynerash/2020/06/29/ccpa-enforcement-to-begin-on-wednesday-july-1-2020--steps-to-get-ready/#5650f7475f8b">&nbsp;a California-style framework</a>&nbsp;with significant compliance costs and hefty fines for rule-breakers. They are also more likely to support a national regime to regulate the use of artificial intelligence for things such as facial recognition systems.



<h3 class="wp-block-heading">Tech under the microscope</h3>



No matter which of the presidential candidates ends up in the White House after the election, it’s clear that the world of technology is going to face more intense scrutiny than ever before.



CIOs will want to keep an especially close watch on who ends up leading key government agencies, such as the Federal Trade Commission and the Department of Justice, which are responsible for oversight on antitrust policy. The Justice Department’s recent move to sue Google<a href="https://www.forbes.com/sites/alisondurkee/2020/10/20/justice-department-suing-google-for-antitrust-violations/#7e1f4243dbb8">&nbsp;for alleged antitrust violations</a>&nbsp;is likely to be followed by actions against Facebook and possibly other tech firms. It will also be important to watch who is chosen to sit on key congressional bodies such as the House Judiciary Committee’s Antitrust Subcommittee, which issued a report earlier this month<a href="https://www.forbes.com/sites/rachelsandler/2020/10/06/long-awaited-house-report-recommends-breaking-up-big-tech/#46776205c831">&nbsp;flagging multiple potential areas of potential concern</a>, including Amazon’s significant share of the cloud computing market.



The Brookings Institution’s West neatly encapsulated where things stand in his closing remarks at the Forbes CIO Next event. “Over the last 30 years, the mantra has been ‘permissionless innovation,’” he said, referring to a relatively laissez-faire view of technology’s impact on the economy and society. “That era is coming to an end. We’re going to have more public engagement [on tech issues], more public oversight, and more public regulation.”



-By Martin Giles, Forbes Staff

Man voting online

Here’s How The U.S. Election Could Impact Automation, Cybersecurity, Data Privacy And Other Key Issues CIOs Care About

The many ways in which it is now rife in South Africa.



In August 2020, South Africa experienced its largest-ever data leak, which exposed the personal information of around 24 million South Africans and just under 800,000 businesses. The suspected fraudster deceived credit bureau Experian under the guise of being an existing client.



Despite Experian claiming that “no sensitive consumer credit or financial information was obtained by the fraudster in this incident”, the Information Regulator (South Africa) confirmed that the data made its way onto the dark web via a whistleblower.



“The whistleblower has informed the regulator that the information of natural persons that is hosted on the dark web includes their cell numbers, home and work phone numbers, employment details and identity numbers,” it said via a statement.&nbsp;



“The personal information of companies includes the names of the companies, contact details, VAT numbers and banking details.”



Experian is pursuing criminal and civil charges against the fraudster.



Mimecast says cybercriminals are targeting South African public and private sector organizations in orchestrated attacks that could lead to devastating losses in business productivity, reputational damage and revenue.



Brian Pinnock, cybersecurity expert at Mimecast, says the global pandemic only served to accelerate the volume of attacks. It reportedly found a 75% increase in impersonation fraud in South Africa over the first 100 days of the pandemic.



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">“As South African organizations implement systems and policies to ensure compliance to the Protection of Personal Information Act (POPI), which comes into force in July 2021, we are likely to hear about more data breaches.” – Brian Pinnock, a cybersecurity expert at Mimecast</blockquote>



“As South African organizations implement systems and policies to ensure compliance to the Protection of Personal Information Act (POPI), which comes into force in July 2021, we are likely to hear about more data breaches. This is in part because of the legislative requirement to inform customers and regulators of any breach as soon as reasonably possible. The regulator appears to have since indicated that 72 hours is a reasonable period,” says Pinnock.



According to the World Economic Forum (WEF), cybercrime remains one of the greatest threats to global prosperity and is expected to cost the global economy $2.9 million every minute in 2020.



The Covid-19 pandemic has led to a complete digital shift for both business and personal interaction from video calls to collaborative tools and down-time activities such as shopping, streaming or gaming.&nbsp;



Cybercriminals have proven highly adept at exploiting a crisis or global event, and a digital ecosystem where the risk of getting caught remains very low and the potential returns are very high, says the WEF.



Additionally, the profits from these malicious activities allow for continuous improvement in capabilities that often surpass the intensive cybersecurity investments made by government or corporate victims.



Since lockdown began in South Africa, impersonation attacks have escalated as workers are forced into remote work, says Pinnock.



“Home information technology is generally insecure, and most organizations have not planned to securely support remote users at this kind of scale.”



He says criminals will look at trends and popular services, brands or topics and exploit these because they know there’s a greater chance of individuals clicking on links and falling into traps.&nbsp;



John Mc Loughlin, CEO of J2 Software, an African security-focused company based in Johannesburg says cyber security and privacy risks should be top priority for any business at present, especially whilst trying to accommodate all staff in their remote working environments.



“More concerning is the intensification of cyberattacks; unscrupulous cybercriminals are exploiting vulnerable and unsuspecting home workers,” says Mc Loughlin.



The South African Banking Risk Information Centre (SABRIC) says it has already seen an increase in new scams involving personal protective equipment, fake vaccines as well as other phishing scams.&nbsp;



SABRIC CEO Nischal Mewalall says: “Amendments to grant distribution processes, the increased use of deviations in procurement processes and the availability of relief funding to businesses and employers will make South Africa even more vulnerable to corruption, armed robberies, application and procurement fraud in 2020 and beyond.”



SABRIC has warned that cybercriminals are exploiting the spread of the coronavirus by using “coronamania” panic to spread scams through phishing and SMS phishing.&nbsp;



Mc Loughlin says that cybercriminals are using SMS phishing, more commonly known as ‘SMishing’, to trick victims into clicking on a link disguised as information on a coronavirus breakout in their area to steal credentials. “Some of these texts claim to provide free masks or pretend to be companies that have experienced delays in deliveries due to the coronavirus.”



<blockquote class="wp-block-quote is-style-large is-layout-flow wp-block-quote-is-layout-flow">According to the World Economic Forum, cybercrime remains one of the greatest threats to global prosperity and is expected to cost the global economy $2.9 million every minute in 2020.</blockquote>



He adds that cybercriminals will also create fake news, links and stories to incite rage and spread these via platforms such as WhatsApp. “As unsuspecting people share fake news and malicious websites, these criminals expand their reach, which stems back to common attack methods that use our built-in fear and uncertainty to trick us to click.”



While investigations are pending from South Africa’s largest data leak, Experian won’t be held liable as the POPI Act allows companies to comply with its new rules by 1 July 2021. Depending on how serious a breach is, the new Act makes provision for fines of up to R10-million ($597,000) and a jail sentence of up to 10 years.



By Nafisa Akabor

Hacker in front of computer

Cybersecurity: Covid-19 Or Not, Cybercrime Is Here To Stay

For years, security experts warned Africa&#8217;s slumbering companies of cyberattacks. On May 12, many woke up. On this day cyberattacks struck 150 countries,  infecting more than 200,000 computers and holding multi-billion-dollar businesses, like France’s Renault, Britain&#8217;s National Health Service, Spain&#8217;s Telefónica, the United States’ FedEx and Germany’s Deutsche Bahn, to ransom.
<a href="https://www.forbesafrica.com/technology/2017/06/28/petya-notpetya-latest-ransomware-deadlier-wannacry/" target="_blank" rel="noopener noreferrer">Petya Or NotPetya: Why The Latest Ransomware Is Deadlier Than WannaCry</a>
Behind it is <a href="https://www.forbes.com/forbes/welcome/?toURL=https://www.forbes.com/sites/peterlyon/2017/06/22/cyber-attack-at-honda-stops-production-after-wannacry-worm-strikes/&amp;refURL=https://www.google.co.za/&amp;referrer=https://www.google.co.za/" target="_blank" rel="noopener noreferrer">WannaCry</a>. This malicious software (malware) encrypts your computer files until a ransom of $300 is paid in the virtual currency, bitcoins. In simple words, it spreads like worms in a bag of rotten apples.
Experts say the reason why this malware squirmed easily into so many companies is that they see cybersecurity as a joke. Many hadn&#8217;t updated their security in over two months.
This made it easy for hackers to exploit Microsoft Windows XP operating systems by bypassing security checks. Once into the core, the malware can search for other files to exploit.
&#8220;Africa, in fact the whole world, is woefully unprepared. Traditional security measures aren’t keeping up with the emerging threats. And it’s becoming increasingly difficult, economically, to keep throwing money at the problem, when [top level management] doesn’t necessarily understand the difference between defending against attackers versus defending against auditors, all the while, tightening the purse strings and treating security as a grudge purchase or necessary evil,&#8221; says Tim Morty, Cyber Security Specialist at Information Security Architects (ISA).
<a href="http://www.forbesafrica.com/technology/2012/02/01/web-vigilantes/" target="_blank" rel="noopener noreferrer">Web Vigilantes</a>
When your computer is under attack, Morty is the kind of guy you want at you back. For 10 years he has battled cyberattacks on the frontline in Africa, from Botswana and Namibia to Mauritius, Tanzania, Uganda and South Africa.
&#8220;Until not too long ago, the prevalent opinion was that only the big corporate and financial institutions had a need to protect their data against corporate espionage, which many considered the main external threat over and above the usual defences against spam and malware. That has changed in recent times. Cybercriminals have not only expanded their reach, they have also found a ready market in our personal data,&#8221; says Morty.
Often it can be your employees and their cell phones that make you vulnerable.
&#8220;Careless posting on social media is a major concern, as is the use of corporate resources on non-corporate networks. Let’s face it, we all love free WiFi! However, do you really know who is behind the connection, and what are they doing with the information that you are transmitting or receiving?&#8221;
One reason why Africa is so vulnerable is many of its people are still learning how the internet works.
&#8220;We need to begin learning how to survive in the virtual worlds we have created. Cybercriminals have rapidly adapted to the virtual world and are using the advantages they have developed to thrive, while others are still taking their first tentative steps in this new frontier.&#8221;
It was not long ago that businesses, according to <a href="https://home.kpmg.com/xx/en/home/campaigns/2016/06/ceo-outlook.html" target="_blank" rel="noopener noreferrer">KPMG&#8217;s 2016 Global CEO Outlook</a> study, considered cybersecurity as an afterthought. The study found cybersecurity has become a major concern for many CEOs. One in five business leaders now list information security as the risk they are most concerned about, while a third sees cybersecurity as the issue with the biggest impact on their company.
<a href="https://www.forbesafrica.com/focus/2016/03/01/making-millions-paranoia/" target="_blank" rel="noopener noreferrer">Making Millions From Paranoia</a>
The study is made from the views of nearly 1,300 CEOs from companies across 11 industries in 10 countries. Cyberattacks loom larger in Africa when many businesses are on the cusp of the Fourth Industrial Revolution, the age of machine learning, cognitive computing and artificial intelligence, play over the internet.
&#8220;Cyberattack is like cancer, there is not one form of cancer and cybersecurity has a lot of different areas. It&#8217;s one thing for somebody to steal your Mastercard and cause you aggravation, but stealing a vaccine for something like a virus, could be worth billions,&#8221; says J. Patrick Michaels Jr, the founder at Communications Equity Associates (CEA).
Michaels founded CEA in 1973 as a US Cable TV brokerage firm.  Nearly half a century later, it has investments of $1.3 billion in private equity wealth across 60 countries.
Known as a globetrotting investment banker, Michaels learned of cybersecurity in his days as Vice Chairman of the Board of Visitors of the U.S. Naval Academy. Michaels believes small businesses in Africa are prime targets for cyber blackmail.
&#8220;Hackers are starting to target the smaller companies to freeze up their businesses. A lion isn&#8217;t going to attack an elephant, when maybe a water buffalo or springbok is easier prey,&#8221; says Michaels.
&#8220;If you hijack the IT systems for a corporation, the impact on that company&#8217;s shares would be crippling. We could be sitting in Prague, sending a message to this company that to unfreeze their systems, the payment of $100 million to various bank accounts around the world would be appropriate. $100 million would be nothing compared to how much they would lose on the JSE stock markets if they were shut down for just 10 minutes.&#8221;
<a href="https://www.forbesafrica.com/focus/2013/09/01/industrial-thief-line-can-rob/" target="_blank" rel="noopener noreferrer">Industrial Thief On The Line, How Can I Rob You?</a>
On the ground in Africa, Morty warns cyberattacks are on the rise because businesses can’t foot the bill.
&#8220;South Africa is, on average, ahead of the curve, in terms of Africa, although we’ve still got a lot of room for improvement… Economically, it is sometimes prohibitively expensive to keep up with the latest and greatest technologies. For those that can afford it, the next challenge is staff upskilling and, often, retention, in a market where skilled individuals are always sought after,&#8221; says Morty.
&#8220;There have been a few occasions when we have documented some major security concerns while working with a client; from open wireless access points and often basic networking flaws at one financial institution to simple lack of visibility and understanding of the client’s environment, with the security role being taken care of by networking staff with minimal training or understanding of the technologies in use.&#8221;
External threats are only part of the problem. Disgruntled employees or moles find it easy to expose weaknesses from within.
&#8220;The typical image, often conjured by media, of hooded figures hunched ominously over a laptop keyboard, is quite misleading. Threats from within are a reality; sometimes with intent, sometimes through neglect, often by accident, especially due to poor user education about a topic that isn’t always user friendly,&#8221; says Morty.
&#8220;Rapid adoption of social media has contributed to security woes, as its users willingly provide attackers with a wealth of information to use against both organizations and individuals alike, making reconnaissance, planning and execution of social engineering attacks that much easier.&#8221;
According to the 2017 Harvey Nash/KPMG CIO Survey, the world’s largest survey of IT leadership, cybersecurity vulnerability is at an all-time high, with a third of IT leaders (32%) reporting their organization had been subject to a major cyberattack in the past 24 months – a 45% increase on 2013.
Only one in five say they are very well prepared to respond to these attacks, down from 29% in 2014. Despite very visible headline-grabbing attacks, such as the recent WannaCry ransomware attack, the biggest jump in threats comes from insider attacks, increasing from 40% to 47% over the last year.
So should we be spending millions on encrypting our phones and protecting computers from hackers?
&#8220;Oddly enough, I’m inclined to say no. Throwing money at the problem will only help up to a point. What we need to do is change the way we work. Educate our users about what it means to be part of the connected world; illustrate what the risks are as well as what can be done to protect themselves, and teach good security practices rather than dictate an intimidating list of do’s and don’ts,&#8221; says Morty.
It will take a while yet for online security to become second nature. Until then Africa&#8217;s blind spot could be expensive.
Relentless rise of organizations being subject to major cyberattacks during past four years:
2017: 32%
2016: 28%
2015: 25%
2014: 22%
Source: <a href="https://www.hnkpmgciosurvey.com/" target="_blank" rel="noopener noreferrer">The 2017 Harvey Nash/KPMG CIO Survey</a>

Tag: cyberattacks

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Here’s How The U.S. Election Could Impact Automation, Cybersecurity, Data Privacy And Other Key Issues CIOs Care About

Cybersecurity: Covid-19 Or Not, Cybercrime Is Here To Stay

Mayday! Mayday! I’ve Been Hacked