Safety of CBDC from vulnerability and cyber attacks | VARINDIA explained | VARINDIA News Hour
#CBDC is a digital form of central bank money that can be accessible to the general public; essentially, it consists of individuals and firms having access to transaction and savings accounts with their home country’s central bank. The Government of India has proposed to issue CBDC, ‘Digital Rupee’ during the FY2022-23 which would be a digital avatar of India’s Fiat Currency, controlled and monitored by the Reserve Bank of India (RBI). CBDC will be a legal tender, being a revamped version of the physical currency, which will eventually reduce cost of currency management. CBDC could help policy-makers achieve goals around payment efficiency, financial inclusion, banking and payment competitiveness, access to safe central bank money in the era of digital payments, and more. People can convert digital currency to physical currency and vice-versa with ease. As per RBI, the digital rupee blockchain being developed by the RBI would be able to trace all transactions, unlike the current system of mobile wallets offered by private companies. The units issued in the digital rupee would be included in the currency in circulation, it added. The RBI's digital currency is likely to debut by early 2023. Currently, the bitcoin blockchain supports up to seven transactions per second and then there are some others that let a few thousand transactions per second. However, security aspects involved in constructing and deploying a central bank digital currency (CBDC).
It is a matter of great concern on the Security part, which is an essential element in the CBDC system. In addition to securing the underlying storage and transfer of value, security involves
aspects of privacy and resilience. Threats must be mitigated to protect the integrity of funds and the confidentiality of users. A secure CBDC system will retain public trust in the central bank. Under an ac.
Safety of CBDC from vulnerability and cyber attacks | VARINDIA explained | VARINDIA News Hour
#CBDC is a digital form of central bank money that can be accessible to the general public; essentially, it consists of individuals and firms having access to transaction and savings accounts with their home country’s central bank. The Government of India has proposed to issue CBDC, ‘Digital Rupee’ during the FY2022-23 which would be a digital avatar of India’s Fiat Currency, controlled and monitored by the Reserve Bank of India (RBI). CBDC will be a legal tender, being a revamped version of the physical currency, which will eventually reduce cost of currency management. CBDC could help policy-makers achieve goals around payment efficiency, financial inclusion, banking and payment competitiveness, access to safe central bank money in the era of digital payments, and more. People can convert digital currency to physical currency and vice-versa with ease. As per RBI, the digital rupee blockchain being developed by the RBI would be able to trace all transactions, unlike the current system of mobile wallets offered by private companies. The units issued in the digital rupee would be included in the currency in circulation, it added. The RBI's digital currency is likely to debut by early 2023. Currently, the bitcoin blockchain supports up to seven transactions per second and then there are some others that let a few thousand transactions per second. However, security aspects involved in constructing and deploying a central bank digital currency (CBDC).
It is a matter of great concern on the Security part, which is an essential element in the CBDC system. In addition to securing the underlying storage and transfer of value, security involves
aspects of privacy and resilience. Threats must be mitigated to protect the integrity of funds and the confidentiality of users. A secure CBDC system will retain public trust in the central bank. Under an ac
Technology video | 180 views
China has emerged as the leader in vulnerability exploitation | CrowdStrike | VARINDIA News Hour
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There are countries which are increasingly turning to #cyberattacks and data theft - and the rise of cloud services is helping them. Crowdstrike's 2022 Global Threat Report details how the cyber-threat landscape has evolved during the past year. The report says, it had confirmed the exploitation of two vulnerabilities published in 2020 by China-nexus advanced persistent threat (APT) actors – in Oracle WebLogic and Zoho ManageEngine, respectively – but that last year it was able to confirm 12 vulnerabilities and nine different products being exploited, linked to 10 known APTs, including the infamous Wicked Panda (aka APT41 or Barium). The analysts said that although Chinese APTs have long developed and deployed their own exploits in the targeted intrusions, 2021 saw an increased volume of activity from Chinese APTs, highlighting an evolution in how these groups go about their work. These countries are seeing that cyber campaigns can be easier to conduct than traditional espionage and are investing in these techniques. “In contrast, exploits deployed by these actors in 2021 focused heavily on vulnerabilities in internet-facing devices or services. Among the vulnerabilities favoured by Chinese APTs in 2021 were the Microsoft Exchange bugs collectively known as ProxyLogon and ProxyShell, and other networking products such as VPNs and routers. They are also increasingly looking to enterprise software products hosted on internet-facing servers.
The team of #CrowdStrike assessed that these exploits are largely being independently developed in-house or, in a new twist, acquired from legitimate sources in China. Exploits submitted at the Tianfu Cup have later been acquired by Chinese targeted intrusion actors for use in their operations. In several 2021 incidents, Chinese actors demonstrated an ability t
Technology video | 219 views
While the volume of attacks has only risen marginally, we have witnessed several sophisticated campaigns from #cybercriminals who are finding ways to weaponize legitimate tools for malicious gains.
Recent examples include using #ChatGPT for code generation that can help less-skilled threat actors effortlessly launch cyberattacks, Trojanizing 3CXDesktop app for a supply chain attack, and leveraging the critical unauthorized RCE Vulnerability in the “Microsoft Message Queuing” service (commonly known as MSMQ).
The CheckPoint Research team also discovered the fastest ever encrypting ransomware ever seen, all of which demonstrates how attackers are continuing their rampant crimes and never looking back.
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Surge in Weekly Cyber Attacks | The Alarming Surge in Cyber Attacks: A Weekly Report |
Technology video | 255 views
Increasing social engineering attacks - Smishing, vishing, and phishing | VARINDIA News Hour
We live in a world that’s becoming more digitally dependent. Right from our social interactions to professional interchanges and financial transactions, most take place digitally. Smishing and vishing are two types of fraud that use SMS (smishing) and voice (vishing) to trick people into giving up money or personal information. They’re “social engineering attacks,” meaning that in a smishing or vishing attack, the attacker uses impersonation to exploit the target’s trust. Because 96% of phishing attacks arrive via email, the term “phishing” is sometimes used to refer exclusively to email-based attacks. A recent survey revealed some alarming numbers about Indian companies managing personal identifiable data and electronic health records. While digital resources are enabling, they also leave us vulnerable to cyber criminals as a lot of information regarding our personal and professional lives rests in the digital domain. Cyber insurance or cyber security insurance provides coverage from activities such as identity theft, unauthorized transactions, and more. Buying a cyber insurance policy can safeguard against online frauds. The policy can be bought by anyone who is 18 years and above and can be bought for family members. Nearly 58% of Indian companies have not opted for cyber insurance yet, indicating lack of awareness about cyber-attacks and cyber risk management strategies. The survey by RIMS and JB Boda Group says, as more attacks on utilities and industrial systems emerge, with Ransomware involved, it no longer is an IT related issue, but of the CFO and board.
The COVID-19 pandemic has triggered digital transformation across companies, leading to the creation of a complex IT landscape in the form of public clouds, unfamiliar home networks, external systems connected through APIs, along with a plethora of access points into their sphere of monitoring and
Technology video | 195 views
Data Breaching | Cyber Insurance Opportunities | VARINDIA News Hour
We live in a world that’s becoming more digitally dependent. Right from our social interactions to professional interchanges and financial transactions, most take place digitally. While digital resources are enabling, they also leave us vulnerable to cyber criminals as a lot of information regarding our personal and professional lives rests in the digital domain. Cyber insurance or cyber security insurance provides coverage from activities such as identity theft, unauthorized transactions, and more with rapidly increasing digitalisation, cyber risks and loss scenarios keep changing quickly. For all risk owners this makes it even more important to learn from past incidents and identify upcoming cybersecurity trends, threats and vulnerabilities. Cyber insurers have already proven that they can be part of the solution when it comes to building up resiliency and preparedness across all industries. The total global economic damage of cybercrime is a controversial issue. Cybersecurity Ventures estimates global economic cybercrime costs to grow by 15% per year over the next five years, reaching $10.5 trillion annually by 2025. In 2021, the number is expected to be $6 trillion up from $3 trillion in 2015. This is no surprise as the cybercriminal world is advancing at a fast pace.
Having cyber insurance is a good idea if the costs make sense — it could be the difference between going out of business and staying afloat. Even if you can afford and qualify for coverage, you should know that cybercriminals like to attack companies with cyber insurance. According to a recent survey, these organizations are over two times more likely to pay ransoms than those without it. Hackers even find out the value of potential victims' coverage by breaking into the insurance companies first so they can demand the highest possible ransom. Once they've extorted organizations with cyber insurance, the
Technology video | 189 views
Emotet banking Trojan attack in 2022 | Cyber Security | VARINDIA News Hour
The actor behind Emotet is a hacker group known as Mealybug. Since starting in 2014 with the first and simplest version of the Trojan, they have turned their operation into a successful crimeware rink that provides Malware-as-a-Service (MaaS). The group achieved this by creating a botnet of infected computers on Emotet malware infrastructure, which they then sold access to. The botnet runs from three clusters of servers known as Epoch 1, Epoch 2, and Epoch 3. They rented this framework to various ransomware ventures, including the infamous Ryuk gang. The distribution mechanism of Emotet is through malspam. Emotet ransacks your contacts list and sends itself to your friends, family, coworkers and clients. Since these emails are coming from your hijacked email account, the emails look less like spam and the recipients, feeling safe, are more inclined to click bad URLs and download infected files. If a connected network is present, Emotet spreads using a list of common passwords, guessing its way onto other connected systems in a brute-force attack. If the password to the all-important human resources server is simply “password” then it’s likely Emotet will find its way there.
Emotet continues to be among the most costly and destructive malware affecting SLTT governments. Its worm-like features result in rapidly spreading network-wide infection, which are difficult to combat. Emotet infections have cost SLTT governments up to $1 million per incident to remediate. Emotet malware infiltrates computers through a network spreader component which consists of several spreader modules. The infrastructure that was used by EMOTET involved several hundreds of servers located across the world, all of these having different functionalities in order to manage the computers of the infected victims, to spread to new ones, to serve other criminal groups, and to ultimately make the network mor
Technology video | 177 views
Increasing Concerns On Cloud Services Are Under Attack | Cyber Attack | VARINDIA News Hour
With the new hybrid-working model we see organizations increasingly moving more of their workload settings to the cloud. While this transformation offers great agility and scalability benefits, it comes with inherent and increased risks to security and compliance. A simple configuration error can result in your entire organization being exposed to threat actors who no longer need to break into your data center to access your critical data or conduct ransomware attacks. As per Gartner by 2025, 99% of cloud security issues will be a result of human error when configuring assets and security in the cloud. At a time when organizations are becoming increasingly dependent on third-party cloud vendors such as AWS, Microsoft Azure, IBM and Google Cloud Platform to securely manage their data, concerns around misconfigurations and other vulnerabilities in the cloud are likely to amplify quickly. What’s more, many of the organizations finding themselves at risk have had to accelerate their digital transformation initiatives at an uncomfortable pace over the past two years, resulting in knowledge and talent gaps that only add to their fears around cloud security.
Under the shared responsibility model - a security framework designed to ensure accountability for compromised data and other incidents - the cloud provider will offer basic cloud security, but it's up to businesses themselves to secure their own data within the cloud. To put it in another way, if cloud providers ensure the town gates are locked and the perimeter is well guarded, it’s still up to businesses to ensure their own doors are locked. That’s no mean feat, particularly when you consider that many large enterprises now rely on three or four cloud platforms as part of a multi-cloud strategy. Attacks on cloud service providers are ramping up. As outlined in Check Point 2022 Security Report, the previo
Technology video | 145 views
The Growing Trickbot Attacks | Trickbot Malware | Posing Concerns | VARINDIA News Hour
TrickBot attack, the Windows services and the activities of Windows Defender or other antivirus software are first terminated. Various methods are then used to extend privileges. The cybercrime operators behind the infamous TrickBot malware have as soon as once more upped the ante by fine-tuning its strategies by including a number of layers of protection to slide previous anti-malware merchandise. The resulting administrative rights can then be used by further plug-ins, which the malware loads automatically. Subsequently, TrickBot spies on both the system and the networks and collects data from the user. The information gathered by the malware is then forwarded to external devices, or to the cybercriminals behind the attack. As per Kaspersky, initially, TrickBot often found its way into the system through phishing emails. This involves sending deceptively genuine fake emails from well-known institutions and companies, which often have an attachment. Victims of a TrickBot attack are requested in the email to open the attachment or link, which leads to the infection of the device. Opening the attachments causes the malware to be downloaded. A TrickBot infection can also occur, through malicious updates or through malware that is already on the end device. Once the malware has made it onto the computer and is able to save the user's data, one of its main goals is to remain undetected for as long as possible.
A Research on Trickbot says, the malware targeting companies in retail, building materials, manufacturing, insurance, and construction with phishing emails are designed to steal credentials. The Trickbot malware is designed to build a botnet—a network of hundreds or sometimes thousands of hacked and connected devices used to launch attacks on organizations and individuals. Russian-based criminals behind the notorious malware known as Trickbot appear to b
Technology video | 144 views
Criminals escalating SIM swap attacks to steal millions of dollars: FBI | VARINDIA News Hour
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#Ransomware continues to be an ongoing problem with protecting users’ data, there is a cell phone scam the public needs to be aware of as well. The FBI says criminals have escalated SIM card swap attacks to hijack victims’ phone numbers and steal millions of dollars from fiat and virtual currency accounts. “Both people and companies have become conditioned to being able to verify identity through simple questions like social security number or mother’s maiden name. Unfortunately, this falls apart completely when data breaches affecting millions of people routinely occur. Now information that was previously assumed to be relatively private is in the hands of malicious parties who can leverage it to easily impersonate their victims.” SIM swapping is a scam in which malicious parties target cell phone carriers to gain access to victims’ bank accounts, virtual currency accounts and additional sensitive information by using social engineering, insider threat or phishing techniques. Social engineering involves a criminal to impersonate the victim’s mobile number by tricking the cell phone carrier into switching the victim’s mobile number to a SIM card that is in the criminal’s possession, allowing the malicious party to access the victim’s calls, texts and other data, but this is only one of the three methods used to steal funds from victims.
FBI encourages mobile users to first contact their mobile carriers immediately to regain control of their phone number, then accessing their online accounts to change their passwords that protect their sensitive data. Insider threat takes place when a criminal actor pays off a mobile carrier employee to switch the victim’s SIM to a card currently in the criminal’s possession. Malicious parties can also employ phishing techniques to access victims’ sensitive data, and ste
Technology video | 223 views
Your Gmail account may not stop the attacks the way you think | Hacked | VARINDIA News Hour
There are millions of enterprises that have been integrated into the Google ecosystem with Android, Gmail, Search, Docs, Maps, YouTube, and many more products that the search giant has to offer. Google's G Suite brings much-needed convenience and organization to the enterprise cloud. But, can a Google Drive account be hacked? All of these things are controlled using one Gmail account. Due to such high-level integration, it becomes mandatory to keep your Gmail account secure and protected, because if it is compromised, then your whole Google ecosystem will be at risk. A report says, about 92% of startups are using Gmail; 60% of mid-sized businesses use it as well. More than 5 million businesses use Gmail. So far, Gmail has established itself as the popular email service for businesses of all sizes. Now the cyber attackers are not only targeting email, but the entire Google Workspace, including popular apps like Docs and Slides. Without full-suite security, your Google Workspace is at risk. When Avanan, acquired by Check Point Software, published an attack brief about the Google Docs comment exploit. The attack occurs when a threat actor adds a comment to a Google Doc (or any part of the Google Workspace). The target is mentioned with an @ sign. By doing so, an email is automatically sent to that person’s inbox. In that email, which comes from Google, the full comment, including the bad links and text, is included. Further, the email address isn’t shown, just the attackers’ name, making this ripe for impersonators.
The researchers say, Google is about the middle of the road when it comes to preventing phishing emails from reaching the inbox: But the question is, can a ransomware use the entire G-Suite as a weapon, and how to stop the attacks that Gmail and others miss. Although Google scans for known malware uploaded to Drive, it has no way to identify Ze
Technology video | 157 views
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Bigg Boss 18 LIVE: Vivian Ka Breakfast Janbuzkar Kha Gaya Digvijay
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Bhagya Lakshmi | On Location | Naman Ne Anushka Ko Kiya Blackmail #bhagyalakshmi
Cameraman: Anil Vishwakarma
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Bhagya Lakshmi | On Location | Naman Ne Anushka Ko Kiya Blackmail
Entertainment video | 12 views