As we close the book on 2024, we welcome you to our Holiday Edition, where we unwrap the biggest stories that defined a whirlwind year in AI and cyber affairs—a celebration of relentless innovation, jaw-dropping rivalries, and high-stakes power plays that kept us captivated all year round.
Cisco faces fallout from a massive data leak exposing critical files, while China accuses the U.S. of cyber espionage amid rising tech tensions. AI governance sparks debate as Europe enforces strict rules, and ASIC sues HSBC for $23M scam failures. Global cyber affairs take center stage this week.
ASIC is suing HSBC Australia over $23M in scam losses, alleging systemic failures in fraud detection and delays in resolving complaints. Meanwhile, Singapore's proposed anti-scam law aims to freeze accounts of scam victims to prevent further losses, sparking debate on privacy and autonomy.
LockBit's leader Dmitry Khoroshev faces U.S. indictment and global sanctions, marking a unified crackdown on cyber threats. The RSA 2024 Conference strengthens global efforts to combat such threats.
LockBit, a notorious ransomware group, recently saw its leader, Dmitry Khoroshev, identified and indicted.
Known by the pseudonym LockbitSupp, Khoroshev faces a 26-count indictment in the U.S. for his role in developing and operating LockBit, which has been described as one of the most destructive ransomware groups worldwide.
This revelation came as financial sanctions were imposed by the United States, United Kingdom, and Australia.
The LockBit ransomware group has been particularly damaging, and prolific ransomware-as-a-service (RaaS) organisation in operation over the past four years causing significant disruptions worldwide, including major organisations like Boeing, Chinese institutional bank ICBC and the Royal Mail.
The attacks have not only been financially draining but also endangered lives by targeting critical infrastructure such as hospitals.
U.S. authorities, in collaboration with international partners, have been proactive in tackling LockBit.
The FBI's Brett Leatherman emphasised that no Russian hacker should feel secure, highlighting the focused efforts to identify and charge cybercriminals.
The recent actions reflect a commitment to dismantling ransomware operations and holding those responsible accountable.
The indictments and financial sanctions are part of a broader strategy to deter cybercrime by impacting the personal freedoms of those indicted, affecting their ability to travel and conduct business internationally.
The RSA 2024 conference has presented a significant opportunity for authorities to strengthen partnerships with the industry.
This global platform can facilitate discussions on innovations in cybersecurity, share best practices, and enhance cooperative efforts to combat threats like LockBit.
It's an ideal venue for fostering international collaboration and developing new strategies to tackle cyber threats effectively.
Despite the progress, the battle against LockBit is not over. Authorities continue to track down affiliates and attempt to recover extorted funds.
The RSA conference could further spotlight the importance of international cooperation in cyber defence, offering a platform to discuss challenges and explore technological advancements.
The identification and indictment of Dmitry Khoroshev mark a significant victory in the fight against cybercrime. As authorities worldwide continue their efforts, the RSA 2024 conference will likely play a crucial role in shaping future strategies against such global cyber threats.
China’s "Salt Typhoon" hackers have breached U.S. telecoms, raising cyber tensions. Experts warn of the threat to international stability, emphasizing the need for collaborative strategies to prevent escalation amid ongoing economic competition.
Chinese hackers allegedly breached U.S. telecoms tied to Harris and Trump campaigns, highlighting election security gaps. AI-driven deepfakes and disinformation also surge on social media, raising risks to democracy as voters near Election Day.
CrowdStrike's disastrous July 19 software update crippled Jetstar and exposed vulnerabilities, causing a global IT outage. Competitors like SentinelOne exploited the chaos, shaking customer trust and eroding CrowdStrike's market value by 25%.
This week, the cybersecurity world is in turmoil following a massive data breach at National Public Data. The breach, involving 2.9 billion records, has exposed sensitive information spanning decades.
