The escalation of Russia’s conflict with Ukraine could spark more “malicious cyber activity” with the potential to inflict significant economic and social costs warned an analyst at Goldman Sachs Group (GSG). According to research, cyberattacks cause about $1 trillion damage to the world economy annually and that two-thirds of them in recent years were allegedly attributed…
Cyberattacks Could Cause Destructive Economic Damage, Warns Goldman Sachs Analyst
China to Impose New Rules on Big Platforms Listing Overseas
January 7, 2022
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Beijing’s cyberspace watchdog said this week that, starting Feb. 15, Chinese platform companies holding the personal data of more than one million users will go through a cyber security review before listing shares overseas. The move comes amid a wave of regulatory changes to tighten the regime’s grip over big tech companies in China. According to a…
Israel’s Finance Ministry Leads 10 Countries in Simulation of Cyber Attack on Global Financial System
December 10, 2021
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The Israeli Ministry of Finance hosted a simulation of a major cyberattack on the global financial system on Dec. 9, with representatives from ten countries and other financial institutions, in a multinational security exercise called “Collective Strength.” The exercise was aimed at increasing international “cooperation that could help to minimize any potential damage to financial markets and banks,”…
Take Steps to Fend Off Ransomware Attacks, Federal Ministers Urge Canadians
OTTAWA—Citing a dramatic increase in ransomware attacks, several federal ministers are urging Canadians to bolster their cybersecurity practices. In an open letter today, the ministers encourage organizations to adopt the latest security measures, build a response plan and ensure information technology staff are well-prepared to respond to incidents. Canada is among the top countries affected…
Australia Prepares to Rapidly Train Cyber Defense Experts
Australia will be bolstering its defence in the digital world by offering paid traineeships for students wanting to fast track their careers as cyber security specialists. Growing rates of criminal and state-linked cyber actors have seen the nation prioritise its defensive and offensive capabilities. In particular, Australia has passed new legislation that could see the…
State-Linked Cyber Actors Could Face Counter-Attack From Australia: Intelligence Boss
The Director-General of Australia’s security and intelligence agency has conveyed a clear message—and threat—that any criminals or state actors seeking to conduct cyber attacks on Australia should be wary of the nation’s counter-offensive capabilities. Rachel Noble, the Director-General of the Australian Signals Directorate (ASD)—a government agency responsible for intelligence, cyber security, and offensive operations—said that…
NL Cyberattack Shows Canada Needs National Rules to Protect Personal Data: Experts
ST. JOHN’S, N.L. _ The cyberattack on Newfoundland and Labrador’s health-care system is yet another urgent signal that Canada needs better rules around protecting personal health information from hackers and needs a unified response plan when health-care services are under siege, experts say. Lives are at stake and action is needed now, said Paul-Emile Cloutier,…
Minnesota Man Charged With Hacking and Extortion of Major Sports Leagues
Federal investigators have charged Joshua Streit, a Minnesota man, with illegally streaming sports games and attempting to extort approximately $150,000 from Major League Baseball. According to a criminal complaint, Streit, 30, is accused of illegally hacking into the league’s streaming websites using login credentials from authorized users. The copyrighted content would then be showcased through…
Hewlett Packard Enterprise Wins $2 Billion Computing Service Deal With NSA
September 1, 2021
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Hewlett Packard Enterprise Co. on Wednesday said it won a 10-year, $2 billion contract to supply high-performance computing systems to the National Security Agency (NSA). The systems will be used for artificial intelligence computing, the company said. The system will be housed in a data center owned by QTS Realty Trust Inc. Under the contract,…
Microsoft Warns Thousands of Cloud Customers of Exposed Databases
SAN FRANCISCO—Microsoft on Thursday warned thousands of its cloud computing customers, including some of the world’s largest companies, that intruders could have the ability to read, change or even delete their main databases, according to a copy of the email and a cyber security researcher. The vulnerability is in Microsoft Azure’s flagship Cosmos DB database….
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