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☆ Malicious actors trying to exploit global tech outage for their own gain
▼ + stars: | 2024-07-20 | by ( ) www.cnbc.com time to read: +1 min

As the world continues to recover from massive business and travel disruptions caused by a faulty software update from cybersecurity firm CrowdStrike , malicious actors are trying to exploit the situation for their own gain. "We know that adversaries and bad actors will try to exploit events like this," Kurtz said in a statement. Microsoft said 8.5 million devices running its Windows operating system were affected by the faulty cybersecurity update Friday that led to worldwide disruptions. That's less than 1% of all Windows-based machines, Microsoft cybersecurity executive David Weston said in a blog post Saturday. He also said such a significant disturbance is rare but "demonstrates the interconnected nature of our broad ecosystem."

Persons: George Kurtz, Kurtz, David Weston Organizations: Changi Airport, Microsoft, Government cybersecurity, Cyber Security Center Locations: Changi, Singapore

☆ Warren Buffett is worried about potential for 'huge losses' in booming, but still tiny insurance market
▼ + stars: | 2024-05-31 | by ( Kevin Williams | ) www.cnbc.com time to read: +11 min

Cyber insurance has become "a very fashionable product," Jain said at the annual meeting. Shokrai says categorizing how to attribute an event is the topic of much debate between insurance companies. "That is a big debate between insurance companies; it is an important distinction that needs clarity," Shokrai said. "I will tell you that most people want to be in anything that's fashionable when they write insurance. "Probably Warren Buffet would have called cybersecurity insurance an opportunity when he was younger," he said.

Persons: Buffett, Glombicki, Gerald Glombicki, Fitch, Berkshire Hathaway, Chubb, Jain, it's, Warren Buffett, Ajit Jain, Michael Chertoff —, Mark Friedlander, Friedlander, " Friedlander, Monica Shokrai, Warren Buffet, Shokrai, isn't, Josephine Wolff, Steve Griffin, they'll, They're, Charlie, Munger, Griffin, Warren Organizations: Industry, AIG, Berkshire Hathaway's, Berkshire, Homeland Security, Insurance, Google, The Fletcher School, Tufts University, L3 Networks Locations: Fitch Rating's, Berkshire, Omaha, California, . Berkshire

☆ TPG to buy Forcepoint unit from Francisco Partners for $2.45 billion, Wall Street Journal reports
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +1 min

July 9 (Reuters) - Buyout house TPG is buying a business unit of software provider Forcepoint for $2.45 billion from Francisco Partners, the Wall Street Journal reported on Sunday citing people familiar with the matter. TPG is acquiring Forcepoint's government cybersecurity business, known as Forcepoint Global Governments and Critical Infrastructure, according to the report. TPG and Francisco Partners declined to comment while Forcepoint did not immediately respond to a request for comment. Austin, Texas-based Forcepoint develops and creates computer security software, data protection, and firewall solutions. Forcepoint is exploring sale of its governments security unit for more than $2 billion as part of its strategy to focus on growing its commercial business, sources told Reuters in April.

Persons: Francisco, Forcepoint, Akanksha, Jacqueline Wong, Diane Craft Organizations: TPG, Francisco Partners, Wall Street, Forcepoint Global, Raytheon Technologies, Reuters, Thomson Locations: Austin , Texas, Bengaluru

☆ TPG to buy Forcepoint unit from Francisco Partners
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +1 min

July 10 (Reuters) - Forcepoint said on Monday buyout firm TPG (TPG.O) would purchase its government cybersecurity business from parent Francisco Partners. The deal was for $2.45 billion, the Wall Street Journal had reported over the weekend, citing people familiar with the matter. Forcepoint, TPG and Francisco did not immediately respond to requests for details on the deal value. The unit, Forcepoint Global Governments and Critical Infrastructure (G2CI), is focused on critical infrastructure for U.S. government and federal agencies. Francisco, which bought Forcepoint from Raytheon Technologies (RTX.N) in 2021, will retain a minority stake in G2CI and will continue as a controlling shareholder in Forcepoint Commercial business, the software company said.

Persons: Forcepoint, Francisco, Samrhitha, Shweta Agarwal Organizations: TPG, Francisco Partners, Wall Street Journal, Forcepoint Global, Raytheon Technologies, Forcepoint, Thomson Locations: G2CI, Bengaluru

☆ Trump White House Aides Subpoenaed in Firing of Election Security Expert
▼ + stars: | 2023-05-31 | by ( Maggie Haberman | Jonathan Swan | ) www.nytimes.com time to read: +1 min

The special counsel investigating former President Donald J. Trump’s efforts to cling to power after he lost the 2020 election has subpoenaed staff members from the Trump White House who may have been involved in firing the government cybersecurity official whose agency judged the election “the most secure in American history,” according to two people briefed on the matter. The team led by the special counsel, Jack Smith, has been asking witnesses about the events surrounding the firing of Christopher Krebs, who was the Trump administration’s top cybersecurity official during the 2020 election. Mr. Krebs’s assessment that the election was secure was at odds with Mr. Trump’s baseless assertions that it was a “fraud on the American public.”Mr. Smith’s team is also seeking information about how White House officials, including in the Presidential Personnel Office, approached the Justice Department, which Mr. Trump turned to after his election loss as a way to try to stay in power, people familiar with the questions said. The investigators appear focused on Mr. Trump’s state of mind around the firing of Mr. Krebs, as well as on establishing a timeline of events leading up to the attack on the Capitol by a pro-Trump mob on Jan. 6, 2021. The latest subpoenas, issued roughly two weeks ago, went to officials in the personnel office, according to the two people familiar with the matter.

Persons: Donald J, Jack Smith, Christopher Krebs, ” Mr, Trump, Krebs Organizations: Trump White, Trump, White, Justice Department Locations: Trump’s

NEW YORK, April 19 (Reuters) - Cybersecurity firm Forcepoint is exploring a sale of its government security unit for more than $2 billion, five people familiar with the matter said. Forcepoint is looking to offload the unit as part of its strategy to focus on growing its commercial business, which caters to large corporations, the sources added. Austin, Texas-based Forcepoint develops and creates computer security software, data protection, and firewall solutions. Last year, Forcepoint won an $89 million contract from the U.S. Department of Defense to provide software solutions that would help monitor user activity. Forcepoint also counts the likes of International Business Machines Corp (IBM.N), CVS Health Corp (CVS.N), Microsoft Corp (MSFT.O) and Qualcomm Inc (QCOM.O) as customers.

BELFAST, April 19 (Reuters) - China is aiming for "global technological supremacy" in cyberspace and is using its cyber capabilities to conduct intelligence and surveillance campaigns, Britain's cyber chief said on Wednesday. Lindy Cameron, director of the National Cyber Security Centre (NCSC), part of Britain's GCHQ eavesdropping spy agency, said Britain had a "legitimate concern" about the effects Chinese technology may have on cybersecurity. "China is not only pushing for parity with Western countries, it is aiming for global technological supremacy," Cameron told an annual government cybersecurity conference in Belfast. China is also using its cyber capabilities to acquire intellectual property, achieve its strategic geopolitical goals, and conduct global spying campaigns, Cameron added. Last month, Britain banned the use of TikTok on government phones, following other Western countries in barring the Chinese-owned video app over security concerns.

☆ Micron says operations normal in China amid government review
▼ + stars: | 2023-04-04 | by ( Stephen Nellis | ) www.reuters.com time to read: +1 min

April 3 (Reuters) - Micron Technology Inc (MU.O) on Monday said that its business operations in China are normal while it is cooperating with a Chinese government cybersecurity review of its products. Last week, the Cyberspace Administration of China said it would conduct a security review of Micron's products sold in the country. The move comes amid a deepening rift between the United States and China over chip technology that has left companies caught in the crossfire. Micron is the only U.S.-based player in the global market for memory chips and is building a new $15 billion factory in upstate New York. Chinese companies have also been working to break into the memory market, but the U.S. last year restricted export of chipmaking tools to the country.

☆ North Korean cyber spies deploy new tactic: tricking foreign experts into writing research for them
▼ + stars: | 2022-12-12 | by ( Josh Smith | ) www.reuters.com time to read: +7 min

The sender was actually a suspected North Korean spy seeking information, according to those involved and three cybersecurity researchers. The email is part of a new and previously unreported campaign by a suspected North Korean hacking group, according to the cybersecurity experts, five targeted individuals and emails reviewed by Reuters. MSTIC said it had identified "multiple" North Korea experts who have provided information to a Thallium attacker account. North Korea's embassy in London did not respond to a request for comment, but it has denied being involved in cyber crime. DePetris said the hackers asked him about issues he was already working on, including Japan's response to North Korea's military activities.

☆ Australia pathology data stolen as hacking epidemic widens
▼ + stars: | 2022-10-27 | by ( Byron Kaye | ) www.reuters.com time to read: +3 min

SYDNEY, Oct 27 (Reuters) - One of Australia's largest pathology providers said hackers stole medical data of thousands of patients, the country's second such breach in two weeks, deepening fears about how companies collect sensitive customer information. 1 health insurer Medibank Private Ltd (MPL.AX) said criminals took data of all 4 million of its customers. [ read more read moreACL said it first knew of unauthorised access to the IT system of its pathology unit, Medlab, in February and received advice that no information was compromised. 1 grocery chain Woolworths Group Ltd (WOW.AX) then revealed that the data of millions of customers using its bargain shopping website had been compromised. Australia has said it plans to fine companies up to A$50 million ($32 million) for failing to prevent data breaches, but Christie said damages awarded for thefts of medical data were typically higher than for other personal data because of non-economic harm like mental health repercussions.

☆ Paying off hackers is common, says top Australian govt cybersecurity firm
▼ + stars: | 2022-10-25 | by ( Byron Kaye | ) www.reuters.com time to read: +3 min

SYDNEY, Oct 25 (Reuters) - Corporate insurers routinely pay hackers a ransom for the return of stolen customer data, a top Australian government cybersecurity provider said on Tuesday, as the country's biggest health insurer revealed the growing scale of a recent breach. "In what other sphere of life do you see reputable corporates pay millions of dollars to criminals and somehow it's all okay?" On Tuesday, Medibank said the criminal had shown data of another 1,000 customers and added that the number was likely to grow. 2 telco, Singapore Telecommunciations Ltd-owned (STEL.SI) Optus, said last month about 10 million customer accounts, equivalent to 40% of the Australian population, had data taken by a hacker demanding payment. The federal government has meanwhile said it would introduce fines of up to A$50 million for companies on the receiving end of data breaches.

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