RidgeBot Penetration Testing Supports Compliance with SEC’s New Breach-Reporting Rule

by | Dec 19, 2023 | RidgeBot

On July 26, 2023, the Securities and Exchange Commission (SEC) adopted a new rule requiring public companies to disclose cybersecurity breaches. Starting December 18, publicly traded companies that incur a “material” cyberattack must file details with the SEC within four working days. The ruling also requires companies to disclose more information about their cybersecurity risk management and governance annually. The purpose of the rule is to increase transparency and standardize breach reporting.

RidgeBot automated penetration testing boosts compliance with the new SEC ruling by providing public companies with the following:

Fast and accurate identification of material cyberattacks

RidgeBot scans the company’s entire network for vulnerabilities and risks and exploits them to simulate real cyberattacks. RidgeBot detects and documents known threats, such as software vulnerabilites, remote command execution, credential disclosure, sensitive information exposure, and database manipulation, providing clear evidence of the attack’s impact. RidgeBot can perform these tasks within hours, depending on the network size and complexity, and generate prioritized risk assessment reports with zero false positives.

Comprehensive and detailed disclosure of cyberattacks

RidgeBot can provide public companies with the necessary information to disclose cyberattacks promptly and transparently, as the SEC requires. RidgeBot includes information such as the attack topology, attack path, attack surface, vulnerability details, risk details, and fix solutions. It can provide information on the attack mechanism, such as the payload, exploit code, and attack snapshot. 

Enhanced and standardized cybersecurity risk management and governance

RidgeBot helps companies improve their cybersecurity posture and resilience by providing information and recommendations on cybersecurity risk management, strategy, and governance. It includes information such as the CVSS score, severity rank, description, and reference of each vulnerability and risk. It also provides recommendations on how to fix, mitigate, or prevent each vulnerability and risk using patching, updating, configuring, or encrypting methods. RidgeBot can also provide information on the security policies, rules, and configurations of the network and how to optimize them using reinforcement learning and advanced algorithms.

Learn how RidgeBot can ensure your company meets the new SEC breach reporting rule requirements.