German insurance major HanseMerkur has been targeted by the Russia-aligned Dragonforce ransomware gang, which claims to have stolen 97GB of data. The attack on the €3 billion firm highlights the escalating threat of ransomware to the global financial services and insurance sectors.
San Francisco-based AI startup Fieldguide has closed a $75 million Series C funding round led by Goldman Sachs Alternatives' growth equity group, achieving a $700 million post-money valuation. The raise brings total venture funding to $125 million as the firm expands its AI enterprise platform.
Ivanti has confirmed actively exploited, pre‑authentication remote code‑execution flaws in its Endpoint Manager Mobile platform, allowing attackers to hijack internet‑facing MDM servers, push malicious device profiles, and exfiltrate sensitive mobile data at enterprise scale
Business - Tech trends and economic shifts
Microsoft is investing $2.9 billion to expand its cloud and AI infrastructure in Japan, marking its largest investment in the country. This initiative includes establishing a new Microsoft Research Asia lab in Tokyo, focusing on AI and robotics, and training three million individuals in AI skills.
Indonesia's banking sector faces rising cyber threats, with an 85% increase in email attacks in Q3 2023. Bank Syariah Indonesia (BRI) has been criticized for inadequate security, as customers report significant losses from digital fraud, highlighting the need for stronger protections.
Apple CEO Tim Cook stressed China's importance at the 2024 China Development Forum, focusing on AI growth and easing US-China tensions. He unveiled Apple's largest store in Asia, reinforcing commitment to the region amidst challenges in the smartphone market.
Microsoft reached a $3.19T valuation this week, driven by AI advances and a partnership with Nvidia. Key moves include launching AI-powered Surface PCs and hiring from Inflection AI, highlighting Microsoft's aggressive push to lead in AI.
TikTok faces a critical juncture in the U.S. as Congress pushes a bill that could force its parent company, ByteDance, to divest within 180 days or face a ban. With bipartisan support and growing security concerns, TikTok's future in the U.S. hangs in the balance.
Politically driven cyberattacks, particularly DDoS, are rising in the financial sector, with a 154% increase in 2023. Hacktivists target banks in conflict zones, highlighting the urgent need for stronger cybersecurity to protect against these growing threats.
Abu Dhabi's G42 divests from Chinese tech investments to ease US tensions and strengthen alliances. This strategic shift reflects the geopolitical pressure faced by Gulf States as they navigate US-China tech rivalry, aiming to balance economic growth with diplomatic alliances.
SolarWinds denies SEC charges over the 2020 Sunburst cyberattack, claiming the lawsuit unfairly penalizes the company. The SEC alleges SolarWinds failed to disclose cybersecurity risks. This case could set a precedent for how companies manage and disclose cyber risks to investors.
Scams are rising in Australia, targeting younger Australians. Measures like the "confirmation of payee" system aim to boost security, but evolving tactics like AI highlight the need for better public awareness and global action against cyber threats.
Where cybersecurity meets innovation, the CNC team delivers AI and tech breakthroughs for our digital future. We analyze incidents, data, and insights to keep you informed, secure, and ahead. Sign up for free!
