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Industry News: ESG5

China Hacked Norway’s Visma to Steal Client Secrets: Investigators

2019-02-06

Reuters: Hackers working on behalf of Chinese intelligence breached the network of Norwegian software firm Visma to steal secrets from its clients, cyber security researchers said, in what a company executive described as a potentially catastrophic attack. The attack was part of what Western countries said in December is a global hacking campaign by China’s Ministry of State Security to steal intellectual property and corporate secrets, according to investigators at cyber security firm Recorded Future..

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Cost of a Cyber Security Breach Reaches a Record High as Canadian Businesses Spend up to $5.8 Million to Recover

2019-02-07

FinancialPostCyber security incidents have become the new normal for Canadian companies, with one hundred per cent of organizations experiencing attacks, according to the findings of a new study from Scalar Decisions Inc. of more than 400 Canadian IT and security workers. Released today, the 2019 Scalar Security Study (commissioned by Scalar and conducted independently by IDC Canada) showed that cyber security incidents are occurring on a regular basis and the cost of these compromises is at an all-time high. The average cost per organization of responding to, and recovering from, cyber security incidents increased to between $4.8 million to $5.8 million, up from $3.7 million last year...

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Federal MPs' computer network hacked in possible foreign government attack

2019-02-08

SMH: National security agencies are continuing to scour the Parliament's computer network for threats to MPs' data after what is being described as a "sophisticated" hack attack that could be the work of a foreign government. The hacking comes just three months ahead of the federal election, prompting fears that if MPs emails or data were stolen they could be used to cause political interference of the style Russia perpetrated against the United States in the 2016 presidential campaign...

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Cyber-warfare Could be Entering a New and Alarming Phase, ex-CIA Analyst tells MPs

2019-02-06

CBC: Online attacks on Canada's financial system could become far more destructive as more militaries around the globe get involved in cyber operations, a security expert and former CIA analyst told a House of Commons committee Wednesday. Christopher Porter, the chief intelligence strategist for the cyber security company Fireeye, Inc., testified that as NATO countries share their expertise on how to defend against and defeat online threats, "major cyber powers outside the alliance" will likely do the same...

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Cyber-Security in New York City, the Financial Capital of the United States

2019-02-05

CyberDefenseMagazineNew York’s position as a financial capital makes the city especially vulnerable to cyber attacks. Although Manhattan is an established gateway for financial services and business in general, it’s still developing as a cyber hub. As hackers’ tools become increasingly sophisticated, it’s no secret that there’s room for improvement in cybersecurity in NYC. To address this urgent need, the New York City Economic Development Corporation (NYCEDC) unveiled Cyber NYC, a huge initiative to transform NYC into a global leader in cybersecurity innovation and talent through collaborations with world-renowned partners in tech, academia, and finance...

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Hackers Targeting Canadian Banks, Mining Companies, Expert Tells MPs

2019-02-07

NationalPost: Foreign hackers have targeted Canadian banks, mining companies and government institutions in recent years to steal valuable secrets and spread malware, a leading cybersecurity analyst warns. In February 2017, multiple major Canadian financial institutions were exposed to the risk of state-sponsored cybertheft from North Korea in a scheme to redirect people to malicious downloads that would seize control of their computer, says Christopher Porter, chief intelligence strategist at California-based security firm FireEye...

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EU Cyber Defense Agency Warns Against Iran's Expansion Of Cyber Espionage

2019-01-28

JPost: Iran is likely to expand its cyber espionage activities as its relations with Western powers worsen, the European Union digital security agency. Online disinformation campaigns in recent years as the country tries to strengthen its clout in the Middle East and beyond, a Reuters Special Report published in November found. This month the European Union imposed its first sanctions on Iran since world powers agreed a 2015 nuclear deal with Teheran, in a reaction to Iran's ballistic missile tests and assassination plots on European soil...

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UAE Used Cyber Super-Weapon To Spy On Iphones Of Foe

2019-01-31

A team of former US government intelligence operatives working for the United Arab Emirates hacked into the iPhones of activists, diplomats and rival foreign leaders with the help of a sophisticated spying tool called Karma, in a campaign that shows how potent cyber-weapons are proliferating beyond the world’s superpowers and into the hands of smaller nations...

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Cyber Attacks Outpacing Physical Terror Attacks

2019-01-27

BusinessStandard: With increasing cases of data breaches and information loss happening on the Internet, cyber attacks are outpacing physical attacks among far-left groups and can cause greater destruction, researchers say. According to lead author Thomas Holt, Professor at the Michigan State University (MSU), the high-profile nature of the internet -- on which the ideological groups can manipulate traffic -- is the ideal platform to attack...

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Mitsubishi Electric Develops Cyber Defense Technology for Connected Cars

2019-01-22

Globalbankingandfinance: Mitsubishi Electric Corporation announced that it has developed a multi-layered defense technology that protects connected vehicles from cyberattacks by strengthening their head units defense capabilities. The technology will help realize more secure vehicle systems in line with the increasing popularity of vehicles that are equipped for connection to external networks...

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