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Global Security Issues
last updated 27-Mar-2016
 
 
  News articles and special reports related to cyber crime, including criminal activities such as large-scale hacking, industrial espionage, (corporate and personal) identity theft, and large-scale denial of service attacks. There is a thin line separating some large scale cyber attacks targeting particular countries or national institutions and what could be at some point in the future be considered "acts of cyber warfare," thus please also browse the cyber warfare section.  
CYBER CRIME
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IOSCO Securities Market Risk Outlook 2014-15. more than half of exchanges responding to a cyber-crime survey noted having suffered cyber-attacks in 2012-2013. Madrid,  L'Organisation internationale des commissions de valeurs-International Organization of Securities Commissions (OICV-IOSCO), October 2014: PDF

Market watchdog warns on danger of cyber attack. The next big financial shock – or “black swan event” – will come from cyber space, following a succession of attacks on financial players, Greg Medcraft (IOSCO chairman). By Sam Fleming, The Financial Times, August 24, 2014: TEXT

Net Losses: Estimating the Global Cost of Cybercrime Economic impact of cybercrime II. We estimate that the likely annual cost to the global economy from cybercrime is more than $400 billion - the maximum could be as much as $575 billion. This is more than the national income of most countries and governments and companies underestimate how much risk they face from cybercrime and how quickly this risk can grow. McAfee and the Center for Strategic and International Studies, June 2014: PDF (full report) | PDF (summary)

South Africa: ‘National crisis’ of cybercrime poses major threat to SA business. According to a study by cybersecurity firm Wolfpack Information Risk, the three sectors hardest hit by cybercrime in South Africa were government, banking and telecommunications. They were conservatively estimated to have lost R2.6bn between January 2011 and August last year. By Johan Burger, BusinessDay, September 18, 2013: TEXT

Expect more Web hacking if U.S. strikes Syria: cybersecurity expert. In the attack on the New York Times website, which was down for large parts of Tuesday and into Wednesday, the Syrian Electronic Army used a tactic known as "spear phishing." By Jim Puzzanghera, Los Angeles Times, August 28, 2003: TEXT

Pro-Syrian group hacks U.S. Marines website. The hack included pictures of people wearing U.S. military uniforms holding signs reading "I didn't join the Marine Corps to Fight for Al Qaeda in a Syrian civil war." By John Bacon, USA Today, September 2, 2013: TEXT | PHOTO

Microsoft and FBI take down global cybercrime ring. Microsoft and the FBI say they have taken down a sophisticated ring of cybercriminals responsible for over $500 million in financial fraud. By Alanna Petroff, CNN Money, June 6, 2013: TEXT

Obama meets with CEOs to push cyber-security legislation. The closed-door session at the White House came a day after the nation's top intelligence officials warned in a Senate hearing that cyber attacks and digital spying have eclipsed terrorism as the top threat to national security. By Ken Dilanian and Jessica Guynn, Los Angeles Times, March 13, 2013: TEXT

Office of the President of the United States. Administration’s Strategy on Mitigating the Theft of U.S. Trade Secrets. Washington, D.C. February 2013: PDF (Hosted by the Wall Street Journal).

Mandiant. APT1. Exposing One of China’s Cyber Espionage Units. Our analysis has led us to conclude that APT1 is likely government-sponsored and one of the most persistent of China’s cyber threat actors. . In seeking to identify the organization behind this activity, our research found that People’s Liberation Army (PLA’s) Unit 61398 is similar to APT1 in its mission, capabilities, and resources.Alexandria, VA, February 19, 2013: PDF

China military linked to hacking attacks. By Geoff Dyer, Kathrin Hille, and Patti Waldmeir. APT1 - a group of hackers it observed attacking at least 141 companies in the US and 15 other countries over the past seven years - was in fact a PLA group called Unit 61398. The Financial Times, February 19, 2013: TEXT | PHOTO

Obama Order Gives Firms Cyberthreat Information. The order promotes increased information sharing about cyberthreats between the government and private companies that oversee the country’s critical infrastructure. By Michael S. Schmidt and Nicole Perlroth, February 12, 2013: TEXT

Gulf oil industry at risk of cyber attack. Recent attacks on oil infrastructure in Saudi Arabia and Qatar bear the hallmarks of so-called “hacktivists”, say information security researchers. By Simeon Kerr, The Financial Times, October 23, 2012: click here

Bank group warns of cyber attacks. The move by FS-ISAC came just two days the FBI published a “fraud alert” advising financial services firms that cyber criminals may be disrupting service to their websites in a bid to keep banks from noticing a recent surge in fraudulent large-sized wire transfers. By Reuters, Independent Online, September 20, 2012: TEXT

Internet Crime Complaint Center (IC3): Fraud Alert – Cyber Criminals Targeting Financial Institution Employee Credentials to Conduct Wire Transfer Fraud, 17 September 2012: PDF

Qatar group RasGas falls victim to virus attack. RasGas is one of the world’s largest producers of natural gas. Group named Cutting Sword of Justice claimed responsibility. apparently By Camilla Hall and Javier Blas, The Financial Times, August 30, 2012: click here

Saudi Oil Producer Saudi Aramco’s Computers Restored After Virus Attack. Saudi Aramco isthe world’s biggest oil producer and the virus attack infected about 30,000 of its workstations. Group named Cutting Sword of Justice claimed responsibility. By Reuters, The New York Times, August 26, 2012: click here

 

 

 
 
 

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