Australia probe foreign influence efforts through social media platforms

On Thursday, Australia started an investigation into the potential usage of foreign influence using social media platforms such as WeChat, Facebook, and Twitter. The development comes in the wake of heightened concerns in the country that China is seeking to cast its influence in Canberra’s affairs. In the past, Russia had used social media to…

Cyber attack on Asian ports could cost $110 billion: Lloyd’s of London

A report prepared by University of Cambridge Centre for Risk Studies, on behalf of the Cyber Risk Management (CyRiM) project, in partnership with Lloyd’s, a cyber insurer. On Wednesday, a report backed by Lloyd’s of London stated, a cyber attack on Asian ports could cost a whopping $110 billion equivalent to half of the total…

All insurance policies should provide clarity on cyber attacks: Lloyds Bank

A coordinated global cyber attack could cause economic damage anywhere between $85 billion and $193 billion. Britain’s retail and commercial banking giant Lloyds Bank Plc stated, all insurance and reinsurance policies should clearly state whether they will cover losses caused by a cyber attack; this would be in the best interest of customers and brokers.…

Cyber attack traced back to China: Bayer

In February, Germany’s cybersecurity agency had stated, the country had experienced a big increase in the number of security incidents hitting critical infrastructure, including power grids and water suppliers. German broadcasters BR and NDR had reported on these incidents. In a significant development, Germany’s largest drugmaker, Bayer stated it had mitigated a cyber attack on…

Aluminum producer Norsk Hydro hit by cyber attack

The operations of Norsk Hydro, one of world’s biggest producers of aluminum, have been affected. On Tuesday, Norsk Hydro, one of the world’s biggest producers of aluminum, stated it was subject to a sustained cyber attack that affected its operations. The development sent its shares plummeting downwards, “IT-systems in most business areas are impacted and…