While the problems of money laundering and mule accounts continue to haunt the financial industry, fintechs are using AI to a large extent to mitigate the problem, said Kawin Boonyapredee, a member of the Cyber Risk Subcommittee for the Singapore FinTech Association.
Japanese government investigators say cybercriminals are employing a new technique that tricks users into downloading malicious Word files disguised as harmless PDFs. Japan's Computer Emergency Response Team warned that the "maldocs" attack can bypass traditional malware detection.
The BlackCat group on Monday claimed responsibility for a ransomware attack on Japanese watchmaker Seiko, publishing samples of stolen data files as proof of its exploit. Seiko Group Corp. announced earlier this month that it had detected unauthorized users accessing of some of its servers.
North Korean espionage group Kimsuky used a combination of spear-phishing and info-stealer malware infection in an attempt to access information about a joint exercise between U.S. and South Korean military forces. Authorities said the group stole personal information of all employees.
A growing number of Asia-Pacific countries are greenlighting digital-only banks to meet customer needs for access to fast, mobile-friendly services, but persistent cybersecurity threats and hackers’ growing capabilities could hurt the success of this emerging market segment.
India's defense ministry will replace the Microsoft Windows operating system with a locally built operating system to enhance cybersecurity in the face of persistent cyberattacks. India is also pursuing a set of laws to create the necessary legal space to secure critical infrastructure.
India's data protection bill, which sets a maximum fine of $30 million for privacy violations, passed both houses of Parliament this week and awaits presidential approval to become the country's first data privacy law. Final changes eased data localization requirements for most companies.
Three Asia-Pacific countries were among the hardest hit by cyberattacks in the world between March and May this year, researchers at BlackBerry reported in the company's latest Global Threat Intelligence Report. Geopolitical attacks accounted for hundreds of cyberattacks in early 2023.
Indonesia has faced the highest number of cyberattacks in the Southeast Asian region over the last six months, with an average of 3,300 cyberattacks per week. Analysts say Indonesia's growing economy and low level of spending on cybersecurity make it a prime target for hackers.
Malaysia's Securities Commission on Tuesday released new cybersecurity guidelines calling for stronger oversight and management of technology risks by investment and capital markets firms. The commission expects the new guidelines to go into effect in Q3 2024.
Email-based phishing attacks in Southeast Asia rose sharply in 2022, marking a growing trend in social engineering attacks with hackers using new techniques to fool victims, according to a recent Kaspersky Labs report. Countries across the region are trying to respond to this growing threat.
President Xi Jinping directed state agencies to strengthen the government’s control over the internet and information technology sector, potentially discouraging investment in the country. Among the obstacles is a new Counter-Espionage Law focused on investigating foreign companies.
Ransomware and malicious cyber activity are growing in the Asia-Pacific region. Anshuman Sharma, associate director of Asia-Pacific at Verizon, dissects the regional impact of ransomware attacks and explains how Asia-Pacific organizations have responded to recent supply chain attacks.
CISOs aspiring to climb the corporate ladder need to look at their role holistically and become more versatile in influencing teams and leading organizational change, ensuring all stakeholders are part of creating a cyber-safe enterprise, said Vishal Salvi, CEO of Quick Heal.
Countries in the Asia-Pacific region so far have not followed the West's lead in banning TikTok from government agency devices, except for special circumstances. But individual nations are pursuing a variety of strategies based on their specific perceptions of the threats they face.