Tag Archive for: Surge

Tech investors should watch out for surge in cyber attacks from Russia over West’s sanctions, analysts

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A pro-Russian man (not seen) holds a Russian flag behind an armed serviceman on top of a Russian army vehicle outside a Ukrainian border guard post. Baz Ratner/Reuters

A pro-Russian man (not seen) holds a Russian flag behind an armed serviceman on top of a Russian army vehicle outside a Ukrainian border guard post. Baz Ratner/Reuters

  • Watch for a surge in cyberwarfare from Russia as the West imposes sanctions over Ukraine, Wedbush said.
  • Well-positioned vendors in the cybersecurity sector should be a focus for tech investors, the analysts said on Tuesday.
  • “It’s a matter of when, not if, this increased cyber warfare activity begins over the coming weeks,” they added.
  • For more stories go to www.BusinessInsider.co.za.

Tech investors should watch out for a surge in cyber warfare from Russia as the West imposes sanctions over its escalating crisis with Ukraine, Wedbush has warned.

“With the Ukraine conflict now front and centre and poised to widen, we expect a surge of cybersecurity attacks from Russia state-sponsored organisations that could change the game for US/European enterprises and governments over the coming months,” Wedbush analysts Dan Ives and John Katsingris said in a note on Tuesday.

Western powers brought in sanctions after Vladimir Putin on Monday recognised two breakaway regions in Ukraine as independent and ordered Russian troops into the country. US President Joe Biden described the moves as the beginning of a Russian invasion of Ukraine.

Biden on Tuesday imposed US sanctions on a pair of Russian banks, some of the country’s political elites, and Russia’s sovereign debt.

The UK brought in sanctions against five Russian banks and three wealthy individuals. The European Union is close to announcing its own measures, which include restricting the Russian government’s ability to raise money on EU financial markets, the Guardian reported.

The market assessed these moves as relatively measured, as they avoided sanctioning Putin personally and didn’t penalise the most significant Russian banks. 

Based on recent conversations with enterprises and security officers, Wedbush said there are growing chances of cyber attacks that could leave sensitive data vulnerable. It also expects companies to invest in protection against persistent cyberthreats.

“With a significantly elevated level of cyberattacks now appearing on the horizon, we…

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‘Somebody Has to Protect Us:’ CTA Bus Drivers Demand Increased Safety Amid Violence Surge – NBC Chicago

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Hundreds of CTA employees marched through downtown Chicago Saturday afternoon, begging for safety this holiday season following a surge in violence against the agency’s employees.

Keith Hill, president of Amalgamated Transit Union Local 241, which represents a portion of the agency’s employees, says there have been nearly 400 assaults this year on CTA staff.

“Enough is enough,” he said. “Local 241 and 308 is fed up at this point.”

Just last weekend, a 49-year-old CTA bus driver was attacked while driving in the 100 block of North Michigan Avenue.

During the nighttime hours, the driver heard a loud noise and got out of the bus to investigate, according to police. When he did, he was confronted by two individuals. The two individuals then began to repeatedly punch the driver, causing bruises on his body and on his face, authorities said.

Chicago police announced the arrest of a 15-year-old boy the next day.

“We are out here moving this city every day, making sure people get to and from work in a safe manner, but we are getting attacked for doing our jobs,” said Marian Lampkin, a CTA bus operator. “We want to go home the same way we come.”

Union leaders and bus drivers say they’re concerned the trend of violence against transit employees will continue to rise without added security.

“When I think I’m coming to work safe – it’s like I got to pray because I don’t know what the outcome is going to be that day,” said CTA bus operator Tamirra Dixon.

A CTA representative told NBC 5 the agency is working closely with the Chicago Police Department, and the safety and security of its employees are top priorities.

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Report: Fireblocks valuation to surge to $8 billion in $400 million Series E | Ctech – CTech

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Report: Fireblocks valuation to surge to $8 billion in $400 million Series E | Ctech  CTech

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Ransomware attacks surge across UK, new report finds

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“Often attackers also threaten to publish the stolen data online or on the dark web, as a way of adding more pressure to make a payment,” he added.

“The potential business-critical impact of these attacks is a very significant risk to organisations financially and reputationally, and serves as a stark reminder of the need for organisations to get cyber-ready and have rehearsed response and recovery plans in place for when an attack inevitably happens.”

Overall, more than a third (39%) of UK businesses reported a data breach or a cyber attack in the 12 months leading up to March 2021, according to the NCSC report.

It said that 20% of all incidents in 2021 related to the UK health sector and vaccine research – a trend often driven by hostile state-backed actors.

Between January 2020 and July 2021, Protective DNS – software that defends against malware, ransomware, phishing attacks, viruses and spyware – blocked NHS, healthcare and vaccine providers from accessing malicious domains 4.4 billion times.

Failure to defend against cyber attacks can cause serious disruption, the NCSC warned. In May, a successful attack on the Irish Health Service Executive (IHSE) meant tens of thousands of patients temporarily lost access to medical treatment.  In total, the IHSE estimates that the incident cost Irish taxpayers £442 million.

The NCSC report comes as data from insurance group Marsh (20-page/4.99MB PDF) suggested the rising number of ransomware attacks was also driving an increase in cyber insurance pricing.

The overwhelming majority of companies renewing cyber insurance had experienced an increase in premiums in the first half of 2021, and in the first quarter, pricing rose on average by 29%.The rise in prices was largely due to new controls in place, as well as a high volume of claims in the past three years.

Marsh said there was also an increase in the number of companies reviewing their cyber risk controls and carrying out cyber risk assessments to try and better understand their exposure to cyber attacks.

The Pinsent Masons cyber team will launch their 2021 cyber report at an event at Lloyd’s of London on 2 December.

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