emfizz.com
emfizz.com May 23, 2017


European and Asian businesses lack the cyber insurance to protect against ransomware

19 May 2017, 09:19 | Todd Saunders

Worldwide 'WannaCry' cyberattack: What we know

Ransomware 'WannaCry' spreads to thousands more computers at start of workweek

Not to mention the fact that those responsible were able to borrow weaponized software code apparently created by the U.S. National Security Agency to launch the attack in the first place.

However, can investors also profit from cyber attacks, something long identified as a "megatrend" alongside the likes of demographics, climate change and urbanisation?

In a blog post on Sunday, Microsoft President Brad Smith appeared to tacitly acknowledge what researchers had already widely concluded: The ransomware attack leveraged a hacking tool built by the U.S. National Security Agency, that leaked online in April.

The company's top lawyer said the government should report weaknesses they discover to software companies rather than seek to exploit them.

"We have seen vulnerabilities stored by the Central Intelligence Agency show up on Wikileaks, and now this vulnerability stolen from the NSA has affected customers around the world", Smith said in a statement. Thankfully, a young security researcher accidentally activated the WannaCry's kill switch by registering the nonsensical domain name it uses to call home.

In Hong Kong, Gazeley said his team had found a new version of the worm that didn't use e-mail to lure victims.

“I think theres going to be a lot of infections Monday morning, ” said Ofer Israeli, chief executive of Tel Aviv-based cybersecurity firm Illusive Networks. "We haven't fully dodged this bullet at all until we're patched against the vulnerability itself".

The attack has left many victims wondering if they should pay the ransom, which in most cases amounts to about $300.

You'll soon be able to dump your mobile provider by text
The body has also introduced a ban on charges after the switch date, which it says will save customers around £10m per year. This means customers would no longer have to pay for their old and new service at the same time after they have switched.


New Threats Fuel Fears of Another Global Cyberattack
The malware spread quickly on Friday, with medical staff in the United Kingdom reportedly seeing computers go down "one by one". The WannaCry pandemic is thus a win-win situation for Microsoft, which will only end up minting more money from the fiasco.


Antonio Conte Won't Confirm Whether John Terry Will Start Against Sunderland
But, despite this, Clement says he will try to bring the 36-year-old former England captain to Wales. It's important to finish the season, to concentrate and reach our target.


He said an increasing number of healthcare providers are becoming aware of the risks and trying to take action. "We've seen that the slowdown of the infection rate over Friday night, after a temporary fix around it, has now been overcome by a second variation the criminals have released".

Other high-profile victims include hospitals in Britain, the Spanish telecoms giant Telefonica, French carmaker Renault, US package delivery company FedEx, Russia's interior ministry and the German rail operator Deutsche Bahn.

One of the first "attacks" on the internet came in 1988, when a graduate student named Robert Morris Jr. released a self-replicating and self-propagating program known as a "worm" onto the then-nascent internet. Many may click infected email attachments or bad links and spread the virus further.

It was too early to say who was behind the onslaught, which struck 100,000 organizations, and what their motivation was, aside from the obvious demand for money.

Trying to instil confidence among people, electronics and information technology minister Ravi Shankar Prasad on Monday said the ongoing cyberattack by ransomware WannaCrypt had almost zero impact in India. Smith noted that the company released a security update to patch the flaw exploited by the WannaCry virus back in March.

Microsoft took the unusual step late Friday of making free patches available for older Windows systems, such as Windows XP from 2001. Once installed, the malware just locks up that computer without spreading to other machines. "They're just a huge organisation which has had insufficient investment in computer security over the years".

That flaw was exploited by a tool called EternalBlue and patched by Microsoft in mid-March, but those who did not apply the update were still open to attack, resulting in the mammoth attack starting Friday that infected 48 UK National Health Service trusts, FedEx, Telefonica, Renault and Nissan vehicle manufacturing plants, U.S. universities, Russian governments and Chinese ATMs, among many other systems across 150 countries, Bloomberg reported.



Other News

Trending Now

Bangladesh arrests 27 men on suspicion of being gay
He had founded the country's only LGBT magazine Roopbaan and was a leading organizer of gays, who are ostracized in Bangladesh. Their crime? They're suspected of being gay.

Chinese state media says USA should take some blame for cyber attack
This vicious piece of code is a type of a Trojan encryptor created to extort money from users by holding their data to ransom. The WannaCry pandemic is thus a win-win situation for Microsoft , which will only end up minting more money from the fiasco.

2 men convicted of hate crimes in Sikh man's assault
When he put his hand out to stop them, his pinky finger was cut so badly that doctors were forced to amputate the digit. Along with the financial and physical toll, Khalsa said he suffers from anxiety, depression and post-traumatic stress.

Sell-Side Analyst's Predictions: Fitbit, Inc. (FIT), Kate Spade & Company (KATE)
The company's current price-earnings ratio amounts to 16.78 times earnings, below the average P/E ratio of 106.05 times earnings. Finally, California State Teachers Retirement System raised its stake in shares of Kate Spade & Co by 0.8% in the third quarter.

Why Trump's combative trade stance makes US farmers nervous
His decision triggered a 90-day consultation period among his administration, Congress and businesses. Lori Wallach, director of Public Citizen's Global Trade Watch, called it "markedly vague".

Volvo Says That They Will Stop Making Diesel Engines, Thanks to Tesla
Some 90 percent of XC90s sold in Europe are diesels, but that sounds like it's going to change in the future. Volvo introduced new-generation diesel engines in 2013 and is planning to use these powerplants till 2023.

Better hope there are no 'tapes' of talks
They can make recommendations, but the president will ultimately make the hiring decision. John Cornyn of Texas, the No. 2 Senate leader and a former Texas attorney general.

Democrats Slam Trump's Criticism of Stepped-up Russia Probe
The revelation further confuses the murky timeline laid out by the White House following Mr Comey's surprising dismissal. She addressed reporters after a closed-door meeting where Rosenstein briefed senators. "This was a very good first step.

United States extends Iran nuke sanctions relief, adds other sanctions
It said Ruan had supplied missile-related technology and goods to an Iranian military technology company. Another Iran-based entity known to support Iran's missile program also was hit with sanctions.

Growth Analysis of Mondelez International, Inc. (NASDAQ:MDLZ)
The stock of Digital Turbine Inc (NASDAQ:APPS) has "Neutral" rating given on Monday, September 26 by Roth Capital. Middleton & Co Inc MA's holdings in Mondelez International were worth $334,000 as of its most recent SEC filing.