A significant increase in Distributed Denial of Service (DDoS) attacks has been reported by Zayo, with the telecommunications sector suffering the most. According to the company’s annual DDoS Insights Report, the past year saw a dramatic rise in both the frequency and severity of these cyber assaults. Businesses found themselves paying an average of £4,700 for every minute under attack, culminating in an average total cost of £325,000.
LogRhythm, the company helping security teams stop breaches by turning disconnected data and signals into trustworthy insights, has expanded its partnership with e-finance, a subsidiary of e-finance Investment Group to deliver secure digital transformation in Egypt. The strategic expansion of the partnership sees the integration of LogRhythm into e-finance’s cloud computing platform. e-finance’s customers across critical industries including fintech, government, and healthcare gain access to LogRhythm SIEM to uncover threats, mitigate attacks, and scale their business with confidence.
In a significant move against the rising menace of spyware, representatives from various countries recently convened in London for the UK – France Cyber Proliferation conference. This gathering underscored the urgent need for international cooperation against the malicious use of cyber tools, an issue that transcends national borders. UK Deputy Prime Minister Oliver Dowden highlighted the importance of joining forces with allied nations to combat cyber threats, positioning the UK as a leader in this global fight.
In the fast-evolving realm of cybersecurity, hackers are displaying remarkable agility in adapting their techniques to exploit technological advancements. The frequency and cost of cyber attacks employing social engineering tactics have witnessed a surge in 2023, and experts predict an even greater volume of such incidents in 2024. GlobalData, a prominent data and analytics company, forecasts a trend where cybercriminals will rapidly innovate and extend the use of methods like social engineering and deceptive practices designed to manipulate individuals into divulging sensitive information.
In a recent security breach, Comcast has alerted millions of Xfinity customers about potential compromises to their passwords and portions of social security numbers. The breach, linked to a known vulnerability affecting major companies, including Boeing and Toyota, has been dubbed “CitrixBleed.”
In a groundbreaking trial, SK Telecom (SKT) and Thales have successfully tested the encryption and decryption of identity data on a 5G network, aiming to safeguard user privacy from potential quantum threats. The experimentation utilized Thales’ cutting-edge 5G Post Quantum Cryptography (PQC) SIM cards within a trial 5G standalone network environment provided by SKT.
In an ambitious collaboration, Ericsson is partnering with Concordia University, the University of Manitoba, and the University of Waterloo to bolster cybersecurity for 5G networks, utilizing AI and automation solutions. Their objective: foreseeing and mitigating network breaches for both current 5G and upcoming 6G networks while navigating increasing network stress and complex security requirements.
Under the Online Safety Act, UK’s telecoms regulator Ofcom, gears up to reinforce online safety, focusing on protecting vulnerable users, especially children. Their proposed laws call for tech firms’ accountability, ensuring a thorough content governance to curb harmful material. They seek stakeholder feedback on their initial codes against illegal harms online, marking the end of harmful content and the dawn of user safety.
In a push for universal cybersecurity standards, the EU faces backlash from global telecommunications titans like Ericsson and Nokia, who warn of supply chain disruptions akin to those experienced during COVID-19. Striking a balance between stringent security measures and smooth product availability is crucial, prompting these industry leaders to suggest increased self-assessment and more lenient implementation timeframes. However, the underpinning question remains – who should ensure industry compliance, the vendors or third parties? Amidst the surge in cybercrime, a secure, streamlined approach is paramount.
The UK’s newly-sealed Online Safety Act transforms Ofcom into a powerful Internet watchdog. However, its journey has sparked both acclaim and apprehensions concerning children’s online protection and potential privacy infringements, respectively. Crucially, the legislation’s implementation might take a couple of years.