Only about one-quarter of the top companies in Asia plan to integrate generative AI into their security operations centers, according to a recent IDC report. Organizations are looking for a clear return on investment and tangible cyber risk management benefit before investing in AI.
Cyberattacks hit multiple parts of the business - not just IT. For example, a spam attack on a Singapore bank affected both IT infrastructure and overall business operations, said Chee Lung Yuen, CISO at AIA Malaysia. That's why CISOs need to consider all potential risks, he said.
Singapore has urged banks to be cautious when using artificial intelligence tools to forecast inflation and to stick to time-tested structural models. The Monetary Authority said banks must learn from the post-pandemic inflation surge, which everyone failed to predict.
The Conservative government of British Prime Minister Rishi Sunak says it won't champion a reinsurance plan for cyber insurance similar to flood insurance, telling a parliamentary committee it doesn't want to "damage competition." Global ransomware payments surged to record levels during 2023.
A last-ditch attempt by British lawmakers to amend a bill expanding electronic communication interception by the U.K. authorities failed despite concerns over pervasive surveillance. The proposal would authorize interception of bulk personal datasets with "limited or no expectation of privacy."
South Korean intelligence service officials have blamed North Korean hackers for targeting the country's semiconductor manufacturing companies. Hackers who gain access to chip-making technology and product designs could hurt South Korea’s leadership in the semiconductor industry.
An Indian government advisory that requires tech companies to obtain government approval to deploy AI platforms has raised fears that too much regulation could stifle AI development in the country. Union Minister Chandrasekhar clarified that the requirement does not apply to startup companies.
The surge in authorized push payment fraud in APAC underscores the urgent need for enhanced cooperation between banks and telecommunications companies. Both players should tap into AI and ML technologies for better fraud detection and real-time authentication, said Mel Migriño of Gogolook.
Security leaders from a wide range of industries explored the latest cybersecurity trends and issues -including Web 4.0, generative AI, automation, data protection and regulatory compliance - at ISMG's DynamicCISO Excellence Awards and Conference 2024 in Mumbai.
The U.K. telecom regulator Ofcom faces "significant challenges" in implementing the newly passed Online Safety Act, which is intended to protect children from online harm, says analysis by the House of Commons Committee of Public Accounts.
Poor credential management practices hit Australian organizations hard in late 2023, accounting for a majority of cyber incidents affecting millions of people, the Australian Information Commissioner said. Compromised or stolen credentials account for 1 in 4 data breaches.
Australian telecom company Tangerine is blaming the compromise of a third-party contractor's credentials for exposing personal information of 232,000 customers, which had been stored in a legacy database. The breach exposed customers' names, birthdates, mobile numbers, addresses and account numbers.
South Korea's election watchdog warned on Monday that the parliamentary elections in April could be marred by artificial intelligence-generated deepfake campaigns aimed at influencing voters. The country's recently amended Elections Act bans the use of deepfakes for election campaigning.
The South Korean President's Office told local media Tuesday that suspected North Korean hackers had targeted the private email account of an official in November ahead of the president's state visits to the U.K. and France. Local reports suggest the hackers accessed the details of scheduled events.
Large language models may boost the capabilities of novice hackers but are of little use to threat actors past their salad days, concludes a British governmental evaluation. "There may be a limited number of tasks in which use of currently deployed LLMs could increase the capability of a novice."
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