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IMF says investigating a cyber-security incident

Reuters · 1y ago

IMF says investigating a cyber-security incident

The International Monetary Fund (IMF) has announced that it is currently investigating a cyber incident that occurred on February 16, 2024. The investigation has revealed that eleven IMF email accounts were compromised, but the affected accounts have since been secured. The IMF has not provided further details about the nature of the incident or the potential impact. The investigation is ongoing.

Related News

Microsoft server hack has hit about 100 victims, researcher says - The Economic Times

Economic Times

Economic Times · 1m ago

Microsoft server hack has hit about 100 victims, researcher says - The Economic Times

A cyberespionage campaign has compromised roughly 100 organizations by exploiting Microsoft SharePoint server vulnerabilities, according to Eye Security. The operation utilizes a "zero day" exploit, allowing continuous unauthorized access. The hack targets various entities, including government agencies and businesses. Microsoft issued security updates, urging users to install them. The FBI and UK’s National Cyber Security Center are involved in investigating the attack, while experts recommend a comprehensive security approach beyond patching.

MGM Resorts says regulators probing September cyberattack

Reuters · 1y ago

MGM Resorts says regulators probing September cyberattack

MGM Resorts has revealed that state and federal authorities are investigating a cyber attack that occurred in September. The incident resulted in a $100 million loss for the company in its third-quarter results. MGM Resorts has stated that it will cooperate with the inquiries. Following the attack, the company halted its systems, causing disruptions at Las Vegas hotels and resulting in error messages on slot machines. Hacking group AlphV claimed responsibility for the breach, with reports suggesting it collaborated with another group called Scattered Spider for the data theft.

IMF chief says AI holds risks, 'tremendous opportunity' for global economy

Economic Times

Economic Times · 1y ago

IMF chief says AI holds risks, 'tremendous opportunity' for global economy

According to the IMF chief, artificial intelligence (AI) poses risks to job security but also offers a tremendous opportunity to boost productivity and global growth. Approximately 60% of jobs in advanced economies will be affected by AI, while around 40% globally will be impacted. Higher-skilled jobs will experience a greater impact. However, the IMF report suggests that only half of the jobs impacted by AI will be negatively affected, with the rest possibly benefiting from enhanced productivity gains. The IMF emphasizes the importance of helping low-income countries to capitalize on AI's opportunities.

AWS unveils new service to counter cybersecurity threats

Economic Times

Economic Times · 8m ago

AWS unveils new service to counter cybersecurity threats

Amazon Web Services (AWS) has launched AWS Security Incident Response, a new service that helps users streamline incident-related communications and reduce recovery time after a cyber attack. The service aims to assist security teams in combatting breaches, account takeovers, ransomware attacks, and other intrusions. Currently, many organisations lack follow-through on their incident response plans, with only 37% conducting regular drills. The consequences of ineffective incident response are costly, with cyberattacks projected to cost the world over $23 trillion by 2027. Customers can access AWS Security Incident Response through the AWS management console and service-specific APIs.

Cybersecurity startup Mitigata raises $5.9 million from Nexus Venture Partners, others - The Economic Times

Economic Times

Economic Times · 24d ago

Cybersecurity startup Mitigata raises $5.9 million from Nexus Venture Partners, others - The Economic Times

Bengaluru-based Mitigata, a cyber resilience startup, raised $5.9 million from Nexus Venture Partners and other investors. As India’s only full-stack cyber resilience platform, Mitigata integrates cybersecurity, compliance, and insurance. The funds will enhance its AI-backed security tools and expand its services and market presence. Serving over 500 enterprises across 25 sectors, Mitigata plans to establish global security centers and enhance its team, emphasizing cyber risk quantification, 24x7 monitoring, and incident response.

Skill gap in workforce, AI advancements make cyber attacks more threatening in India

Economic Times

Economic Times · 1y ago

Skill gap in workforce, AI advancements make cyber attacks more threatening in India

The demand for cyber security professionals is set to boom in India as the country grapples with a rise in cyber attacks. The industry currently faces a 30% supply gap, with projections indicating a need for one million professionals by 2025. Companies are incorporating artificial intelligence (AI) to enhance cyber security efforts and bridge the skills gap. The most sought-after skills in the field include cloud security, threat intelligence, incident response and management, ethical hacking, and data security. Companies are expanding their search for talent beyond domestic markets and investing in skilling initiatives to meet the growing demand.

Singapore facing 'serious' cyberattack, says minister - The Economic Times

Economic Times

Economic Times · 1m ago

Singapore facing 'serious' cyberattack, says minister - The Economic Times

Singapore is facing a serious cyberattack on its critical infrastructure, allegedly by the UNC3886 espionage group linked to China. This Advanced Persistent Threat (APT) could disrupt essential services and negatively impact the economy. Coordinating Minister for National Security K. Shanmugam highlighted the significant risks posed by this ongoing threat. China's embassy in Singapore has denied any connection to the attack. The incident underscores the increasing challenges posed by sophisticated cyber attackers.

Microsoft could have prevented Chinese cloud email hack, US cyber report says

The Verge

The Verge · 1y ago

Microsoft could have prevented Chinese cloud email hack, US cyber report says

A report by the US Cyber Safety Review Board has found that Microsoft's failure to prioritize enterprise security investments and rigorous risk management contributed to Chinese hackers breaching US government emails through its Microsoft Exchange Online software. The incident affected over 500 people, including US government employees working on national security. The report calls for an overhaul of Microsoft's security culture, highlighting the need to prevent such intrusions. This comes as Microsoft faces ongoing attacks from Russian state-sponsored hackers, with the same group behind the SolarWinds attack spying on executive email inboxes and accessing the company's source code repositories and internal systems.

Infosys subsidiary hit by cyber security attack; investigation underway

Livemint

Livemint · 1y ago

Infosys subsidiary hit by cyber security attack; investigation underway

Infosys has reported that its US subsidiary, Infosys McCamish Systems, experienced a cyber security incident, leading to the unavailability of certain applications and systems. The company is working with a cyber security firm to resolve the issue and is conducting an investigation to determine the impact on systems and data. Data protection and cybersecurity are a top priority for Infosys, and the company is taking measures to address the situation.

Global outage hits cybersecurity firm Crowdstrike: report

Economic Times

Economic Times · 1y ago

Global outage hits cybersecurity firm Crowdstrike: report

A major cyber outage affecting Australian media, banks, and telecoms companies is believed to be related to an issue at global cybersecurity firm Crowdstrike. Outages were reported by several banks and telecoms companies, with no indication of a cyber security incident. Australia's National Cyber Security Coordinator stated that the outage was caused by a technical issue with a third-party software platform. State broadcaster ABC also experienced a network outage, with no reason provided. A Sky News correspondent confirmed that the outage was not thought to be a result of a hack.

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