Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
»
1-min read

Cybercrime Set to Rise With New EU Privacy Laws: Report

The GDPR regulation by the European Parliament comes into force on May 25 this year.

IANS

Updated:February 21, 2018, 3:33 PM IST
facebookTwitterskypewhatsapp
Cybercrime Set to Rise With New EU Privacy Laws: Report
Two Out of Three Hotels Accidentally Leak Guests' Personal Data - Symantec (Representative Image)
Loading...

As businesses try to comply with new European Union privacy laws that come into force this year, they are set to face increased ransomware, cryptocurrency mining and business email compromise (BEC) extortion attacks, a report said on Wednesday.

Cybercriminals will try to extort money from enterprises by first determining the General Data Protection Regulation (GDPR) penalty that could result from an attack, and then demanding a ransom of slightly less than that fine, which CEOs might opt to pay, said the report from global cybersecurity leader Trend Micro. ATM attacks, BEC and targeted attacks were some of the stealthier security challenges faced by enterprises in 2017.

"With more people using online transactions, there has been a growth in the number of hackers. We have seen an increase in those vulnerabilities being announced and lot of them getting compromised," Nilesh Jain, Vice President, South East Asia and India, Trend Micro, said in a statement. "Major outbreaks that caused global infections made headlines well into the year, proving that ransomware was still a burdensome threat for individuals and enterprises," he added.

The GDPR regulation by the European Parliament comes into force on May 25 this year.

The new report, titled "The Paradox of Cyberthreats", revealed a 32 percent increase in new ransomware families from 2016 to 2017. It also highlighted a doubling of BEC attempts between the first and second half of 2017 and soaring rates of cryptocurrency mining malware, peaking at 100,000 detections in October last year.

"The report reveals a threat landscape, with cybercriminals increasingly finding they're able to gain more -- whether it's money or data or reputation damage -- by strategically targeting companies' most valuable assets," added Jon Clay, Director of Global Threat Communications for Trend Micro. "Businesses need a cross-generational security solution that uses a blend of proven security protections with the best new defences to mitigate risk effectively," he added.

Vulnerable IoT devices are also a major security risk across several trending threats.

Trend Micro detected more than 45.6 million cryptocurrency mining events during the year, representing a large percentage of all IoT events observed.

Watch: Tech and Auto Show Ep 31 | Auto Expo 2018 Special | Unveilings & Launches

 

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

| Edited by: Sarthak Dogra
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results