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.
Broadcom joins Nvidia in the $1 trillion club, reshaping the AI chip race with a 51% revenue surge in Q4 2024 and VMware's $69B acquisition. As China invests $25B to boost semiconductor self-reliance, U.S.-China tensions escalate, redefining global innovation and geopolitical power dynamics.
Lt. General Michelle McGuinness, a 30-year military intelligence veteran, is appointed as Australia’s national cyber security coordinator. She aims to strengthen business-government collaboration against rising cyber threats.
Military intelligence veteran Michelle McGuinness has been appointed national cyber security coordinator by the Department of Home Affairs, formally replacing Air Marshall Darren Goldie, who was recalled last year following allegations about a workplace matter.
"I’m excited to get started and continue to ensure that Australia is best positioned to respond to threats of the digital age," McGuinness said in a post on X (formerly Twitter).
Mcguinness has served the defence force for 30 years in several roles,and most recently was deputy director for Commonwealth integration (DDCI).
"Previously, while serving in the Defence Intelligence Organisation, she led interagency intelligence efforts supporting whole-of-government counter-proliferation initiatives, as well as Australia’s Strategic Health Intelligence capability during the COVID-19 pandemic," Clare O'Neil, Minister for Home Affairs of Australia said in a statement.
"With the National Office of Cyber Security, the coordinator drives forward the necessary work to ensure Australia is best positioned to respond to the opportunities and challenges of the digital age.”
Praised for her extensive experience, McGuinness takes on a crucial position amid a surge in cyber attacks. Her challenge includes persuading major businesses to collaborate with government cyber defence experts to address escalating threats effectively.
McGuinness aims to position Australia strategically in navigating the opportunities and challenges of the digital age, building on her previous roles, including leading intelligence efforts during the COVID-19 pandemic.
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.
Australians face rising cyber scams during holiday shopping, with scammers using AI-driven tactics like phishing and deepfakes. Spending $70B online puts consumers at risk, as reports show $30.7K average losses. Visa's new measures push beyond SMS OTPs to combat fraud. Stay vigilant.
In this Cyber Bites edition: North Korean IT workers resort to extortion, Singapore tightens chatbot controls, Casio faces a ransomware setback, and China challenges Intel amid U.S. tech rivalry. The stakes in cybersecurity are higher than ever!
Cisco faces a major data breach, AT&T agrees to a $13M settlement for mishandling customer data, and Notion’s founders are revolutionising enterprise operations with AI-driven tools. Discover the latest developments impacting cybersecurity and business tech innovation.
