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.
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.
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.
Researchers at South Korean cybersecurity company S2W attributed a new malware campaign that targeted South Korean organizations to North Korean cybercrime group Kimsuky. The hackers disguised their malware installer as a security program installation file to deceive victims and steal their data.
Pro-Israel hacktivist group R00TK1T said it breached Malaysian telecom giant Maxis shortly after it promised to target organizations in Malaysia because of the country's stance on the Middle East conflict. The hackers also breached telecom company Aminia and online learning platform Yoututor.
The Filipino government has accused China-based threat actors of hacking into the websites of a half-dozen government entities and infiltrating government email systems. DICT officials said the hackers used China-based IP addresses and the services of Chinese telecom firm Unicom to mount attacks.
Fraudsters used deepfake technology to trick an employee at a Hong Kong-based multinational company to transfer $25.57 million to their bank accounts. Hong Kong Police said Sunday that the fraudsters had created deepfake likenesses of top company executives in a video conference to fool the worker.
South Korean President Yoon Suk Yeol expects North Korea to interfere with the upcoming legislative elections and warned citizens to prepare for waves of cyberattacks, fake news and disinformation. Investigators believe North Korea conducted 80% of the attacks on public sector organizations in 2023.
The FBI and the U.S. Department of Justice used a court order to disrupt a Chinese hacking operation that compromised thousands of internet-connected devices and targeted sensitive areas of U.S. critical infrastructure, according to media reports.
The Australian government plans to adopt a risk-based approach to AI governance modeled after the European Union's Artificial Intelligence Act, which requires strict regulation on any uses of AI systems that could pose risks to national security, violate individual privacy or cause harm to society.
Australian fashion and sports retailer The Iconic has blamed careless customers for a spree of incidents that allowed hackers to access customer accounts and place orders worth thousands of dollars. The firm said customers made themselves easy targets by reusing passwords across multiple websites.
Australian travel company Inspiring Vacations is investigating a misconfigured cloud database that exposed passport details and the personal information of tens of thousands of travelers. Cybersecurity researcher Jeremiah Fowler said the database leaked 112,000 passport scans and identity documents.
Budget cuts and a lack of skilled cybersecurity professionals have forced the country's cybersecurity agency to ask hackers for tips and guidance on emerging threats, a government official told Bloomberg. He said DICT employs only 30 cybersecurity experts but needs 200 people.