Cyber Financial News

Paris Summer Olympics expect a flurry of cyberattacks, and with good reason. Russia is shut out of the Games; geopolitical tensions in the Middle East and the South China Sea are running high; cybercriminals continue to bombard computer networks with hacking attempts.

Wiz, a cloud security firm based in New York, has rejected a proposed $23 billion acquisition deal offered by Google parent Alphabet, according to a Wiz memo seen by CNBC

Your company may be sufficiently insured if your business is interrupted due to data breaches or hacking incidents. But does it also cover losses due to software updates, especially in a world of interconnected devices, where a buggy software update on a central server could impact multiple devices like computers, smartphones, smart kiosks, ATMs, smart TVs, etc., and hence impact many business channels, simultaneously? Under normal circumstances, such a question would sound odd since one would assume that most companies would have insured themselves against data breaches, ransomware attacks, cyberattacks and other such business interruptions or even power outages.

Niti Aayog has said. Niti Aayog, in a report titled 'Domestic Manufacturing Capacity & Potential Cyber Security Challenges in the Wind Sector and Way Forward', said wind turbines' capability to exchange information through power plant controllers (PPC) poses a significant cybersecurity threat. «The PPC software is of critical importance and associated with risks — used in the device which connects the wind farm directly to the national/state grid. »PPC OEMs of foreign origin, especially neighbouring countries, need to be examined, and a call needs to be taken for their suspension while not adhering to the protocol," it said.

scammers are winning. Sophisticated overseas criminals are stealing tens of billions of dollars from Americans every year, a crime wave projected to get worse as the U.S. population ages and technology like AI makes it easier than ever to perpetrate fraud and get away with it. Internet and telephone scams have grown «exponentially,» overwhelming police and prosecutors who catch and convict relatively few of the perpetrators, said Kathy Stokes, director of fraud prevention at AARP's Fraud Watch Network.

cybersecurity professionals, especially at the leadership level, are more in demand than before. Organisations have started to consider cyber as a key enterprise-wide risk that can not only pose financial losses but also tarnish reputations, destroy customer trust, and even threaten public safety, says Anand Venkatraman, Partner, Deloitte India. The stakes are higher in today’s interconnected digital landscape, and this calls for robust cyber defences and risk management strategies. There is a clear surge in demand for cyber insurance so that organisations can offset or transfer some financial damage from this risk. The areas of demand

Taiwanese at a villa in Bali over alleged cyber fraud, authorities said Friday. The proliferation of cyber fraud groups in Southeast Asia has become a growing concern in recent years, and authorities in countries including China, Indonesia and Malaysia have stepped up efforts to stop them.

cyber-attacks in recent times on the critical water infrastructure in the US has exposed its gaps in cyber security. These attacks carried out allegedly by Russia, China and Iran have added to the stress on the system as well as lowered the public confidence. It has been reported that the US National Security Advisor Jake Sullivan has also issued a note to all stake holders to take note and work towards stepping up security on various networks which are connected to the water infrastructure. There is an increasing tendency to use AI in carrying out various cyber-crimes.

Mumbai/New Delhi: Millions of students vying for coveted colleges and courses makes India's vast education sector a prime target for cybercrime, experts said, at a time authorities have pointed to leaked question papers appearing in the so-called dark net. Besides, data of innumerable students may also be vulnerable to unauthorized access and misuse. Amid widespread student protests over the past two weeks, the government has raced to withdraw grace marks in the pre-medical entrance exam for MBBS and related courses, cancelled an exam for junior research fellowships at universities, and postponed another exam to admit students to post-graduate medical courses.

Indonesia's national data centre and asked for an $8 million ransom, the country's communications minister was quoted by state news agency Antara as saying on Monday. The attack disrupted some government services, most notably at airports last week, though automated machines were now functional, the communications ministry said on Monday.

India's first-world digital infrastructure and financial inclusion, which has brought access to digital banking, payments, health, and credit services to almost 500 million people, are widely acknowledged. However, this technological progress has also led to a new threat: cyber fraud. India now ranks among the largest victims and perpetrators of cyber fraud worldwide.

RBI) Governor, Shaktikanta Das, on Friday announced establishing a digital payments intelligence platform owing to recent surge in bank, digital frauds.

top 10 cybersecurity courses, helping aspirants narrow their choices and find the ideal course to advance their careers.1. Advanced Executive Program in Cybersecurity from IIITB and NPCI2. Bachelor of Science Cyber security3.

cybercrime complaints being registered on the National Cybercrime Reporting Portal run by the ministry of home affairs between January to April 2024. According to Indian Cyber Crime Coordination Centre (I4C), on an average 7,000 cybercrime complaints were registered per day in May 2024, a jump of 113.7% between 2021-2023 and 60.9% from 2022-2023, and 85%of them were financial online frauds. I4C is a body established by the MHA to provide a framework for law enforcement agencies to deal with cybercrime. The massive rise in number of cases can be seen between 2019 to 2024 with 26,049 complaints being registered in 2019, 2,57,777 in 2020, 4,52,414 in 2021, 9,66,790 in 2022, 15,56,218 complaints in 2023 and 7,40,957 in 2024 in the first four months of the year. Most victims were targeted using online investment fraud, gaming apps, algorithm manipulations, illegal lending apps, sextortion, and OTP forwards among others. Over 1 lakh investment scam cases were reported in 2023, according to I4C. In cases of digital arrests, Indians lost ₹1.2 billion in 4,599 cases in the first four months of 2024. Trading scam accounted for 20,043 cases in which ₹14.2 bn were lost to cyber criminals during the same period.

A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and consumer.  Sign up  to receive future editions, straight to your inbox.

Google is betting Microsoft Corp's very public cybersecurity failures — along with deep discounts — will persuade corporate and government customers to use the search giant's productivity software rather than Office.

Telecom operators are likely to disconnect a record 1.8 million or so mobile connections at one go as part of the government's first countrywide operation to curb cybercrime and online fraud, officials said. This follows a comprehensive investigation by various law enforcement agencies to track misuse of mobile connections for committing cybercrime and financial fraud. «During investigations, it was detected that in many instances, a single handset was used with thousands of mobile connections,» an official privy to the details told ET.

banana peel that Indian banks were slipping on, recalling that in 2020, RBI had put restrictions on HDFC Bank for technological inadequacies. Another article about the cost of digital banking, while failing to highlight its significant benefits in reducing transaction costs and enhancing financial inclusion, quoted various bankers who put the technology spend of banks at around 10% of their overall expenses.

cybersecurity talent. Amid data breaches, progressive regulatory expectations and introduction of generative artificial intelligence platforms making security controls and processes vulnerable, companies are beefing up their cybersecurity teams across levels. They are hiring experts in threat intelligence, security operations, incident response, cloud security, network security, data archival and compliance, among other areas.

money was deposited into your bank account? Be cautious, as this could be a scheme by cybercriminals aiming to take your money. A techie from Bengaluru has recently took to social media to share such an incident. Aditi, a tech entrepreneur based in Bengaluru, shared in a detailed post on X (formerly known as Twitter) how she narrowly avoided falling prey to a new financial scam. The scam involves using deceptive SMS messages to cause confusion and steal money.

Wiz said Tuesday it raised $1 billion in a deal valuing the fast growing cloud security startup at $12 billion. Wiz said the funding round, which brings the company’s total funding to $1.9 billion, was led by Andreessen Horowitz, Lightspeed Venture Partners and Thrive Capital. Greylock Partners, Wellington Management and existing investors Cyberstarts, Greenoaks, Index Ventures, Salesforce Ventures, Sequoia Capital and former Starbucks chief executive Howard Schultz also participated.