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Experts at the WEF presentation said that the massive cyberattack can snowball into an apocalypse.
Cyber security has become a huge issue in the past few years with several companies and countries falling victim to  cyber attacks. Everyone who has been affected or is at risk of being affected by cyber attacks has been trying to deal with the problem. Now, a new report on cyber security has warned that in the coming two years cyber attacks might pose an unprecedented threat.  
The World Economic Forum (WEF) Global Security Outlook Report 2023 has predicted that a “catastrophic cyber event” is on the way and will hit us in the “near future”. WEF managing director Jeremy Jurgens, during a presentation, said that “geopolitical instability makes a catastrophic cyber event likely in the next two years”. Jurgens said that the prediction comes from 93 per cent of cyber leaders, and 86 per cent of cyber business leaders. “This far exceeds anything that we’ve seen in previous surveys.”
Talking about cyber security, Jurgens referred to a recent cyberattack that aimed to shut down Ukrainian military abilities, but unexpectedly led to closing off of parts of electricity production across Europe. 
Secretary-General of Interpol, Jürgen Stock, was also present and called it “a global threat”. “It calls for a global response and enhanced and coordinated action.” He urged multiple bad “actors” who benefit from cybercrime to encourage world leaders to work together to thwart all such efforts. 
Also Read | Russia accuses US of training ‘Ukrainian IT Army’
Albania, one of the countries that fell prey to a massive cyberattack recently, has now been working with larger allies to fight cyber criminals. Edi Rama, Albania’s prime minister, came up with some shocking numbers at the presentation, saying that if cybercrime was a state, it would be the third largest global economy after the US and China. Rama said that the cybercrime industry stood at $3 trillion in 2015 and is expected to grow to $10.5 trillion in 2025. 
Rama compared the predicted cyberattack to a virus like Covid-19 and how it can turn to an “apocalypse”.
“Let’s imagine an exponential multitude of viruses that mutate everyday exponentially while not threatening our body, but the bodies we live in, our organisations, our countries, our system, then, you know, it could be just apocalypse. It’s about viruses that can not only block our way of living, but can control it and deviate it.”
(With inputs from agencies)
 
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Experts across various sectors of economy in Africa are poised to discuss ways to reduce cybercrime that fuel technology disruption of African economies.
The technologists who would be addressing the issues and challenges impeding growth in financial inclusion at the 2023 RegtechAfrica Conference in Africa would speak on policies that would ensure consumer protection against cyber crime is upheld in the continent.
According to the chief executive officer, RegtechAfrica, Cyril Okoroigwe, said the conference would focus on ways to reduce cybercrime in Nigeria.
The conference, he said, is scheduled to hold in Nigeria from 24th to 26th May, 2023, in  Lagos, would be a forum for regulators, regulated and key Industry stakeholders to engage collaborate and share knowledge around new technologies and practices that support better regulations.
He stated that the digital revolution in financial sector has seen increasing changes with a new move towards technology driven delivery channels. This holds great promise as a means to enable financial inclusion and thus help improve citizens lives.
Okoroigwe, however, stated that cybercrime has become a key concern in developing and emerging key countries’ financial markets and is threatening to hinder consumer trust and other global advances in building more inclusive financial sectors.
His words, “harnessing the power of big data, artificial intelligence and even block chain, regulatory technology is poised to reduce financial risk, increase regulatory compliance and stamp out laundering and fraud, all of which contribute to an estimated $2 trillion yearly loss for the global economy.”
The RegtechAfrica boss, assured that the  conference would therefore reveal how governments in emerging markets are raising the bar in implementation of policies and strategies with the aim of setting innovative standard for risk management aimed at providing clarify and engendering prosperity.
Some speakers who already confirmed attendance at the event include Phillip Chitalu, Chief Executive Officer, Securities and Exchange Commission, Zambia; Kashifu Inuwa Abdullahi, Director General, National Information Technology Development Agency (NITDA); Ayisat Agbaje, Senior Special Assistant to the Governor on Development Partnership and Economic Planning, Lagos State and Yilebes Addis, CEO of EthSwitch S.C, Ethiopia.
The conference will feature an expansive line-up of stellar speakers, case studies, panel discussions, presentations providing access to a wealth of industry-leading knowledge sharing best practices and experiences, spotlighting trends, information exchange, insights and outlooks with actionable take-aways.
The event is focused on attracting top professionals with interest In regulations, compliance, technology, fraud, risk, monitoring, reporting, financial crime, cyber security, data management and identity management.
Technology service providers will share their knowledge, invited agencies of government at federal and state levels will share insights and showcase use cases in their domains, while international experts will provide perspectives on international best practices and use cases.
With 50 speakers and over 1,000 industry experts across the world, the conference is a platform to engage with the industry stakeholders to drive business growth and stay ahead of the curve.
The maiden edition of the conference held in partnership with the Bill & Melinda Gates Foundation, was hugely successful and boasts of high-level representation of businesses and regulators across key sectors such as financial services, technology, telecommunications and Venture Capital companies.
 

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Centre launches ‘hackathon’ to identify ideas, solutions to tackle cyber threats  Hindustan Times
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SYDNEY, Feb 27 (Reuters) – The Australian government on Monday said it planned to overhaul its cyber security rules and set up an agency to oversee government investment in the field and help coordinate responses to hacker attacks.
The move follows a rise in cyber attacks since late last year with breaches reported by at least eight companies, including health insurer Medibank Private Ltd (MPL.AX) and telco Optus, owned by Singapore Telecommunications Ltd (STEL.SI).
Current cyber security rules, government policies and regulations "are simply not at the level that we need them to be," Prime Minister Anthony Albanese said during a meeting with industry leaders and experts.
"This is really fast moving. It's a rapidly evolving threat, and for too many years Australia has been off the pace," Albanese said.
The government will set up a coordinator for cyber security, supported by a national office within the department of home affairs, tasked with ensuring government agencies work together during cyber incidents.
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The coordinator will also oversee the government's investment strategies on cyber security and help lead the response when hackers attack.
The government has published a discussion paper on a new cyber security strategy, which it aims to implement next year, and is seeking feedback on how businesses can improve their cyber security in partnership with the government.
Though the government and the private sector are undertaking critical security measures, the current rules do not ensure smooth coordination during cyber incidents, Minister for Home Affairs, Clare O'Neil said, blaming the previous government for implementing them.
"That law was bloody useless, like not worth being printed on the paper when it came to actually using it in a cyber incident," O'Neil told ABC Radio in an interview. "They're not fit for purpose at the moment, and I do think they need reform."
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February 12, 2023 01:47 pm | Updated 04:03 pm IST – Jaipur
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A social media post warning people against fake social media profiles.
From quoting iconic Bollywood songs and dialogues to sharing memes, the Rajasthan Police is using popular culture as a tool to raise awareness among youngsters about online luring and fake social media profiles during the ongoing Valentine's week.
डिजिटल वर्ल्ड में हैकर्स कभी भी आपके 'गले पड़' सकते हैं। #Hackers के बचने के लिए एंटीवायरस और ऑपरेटिंग सिस्टम रखें अपडेट।

किसी भी #App से निजी जानकारी साझा ना करें। #Hug करें लेकिन सुरक्षा को हैकर्स को नहीं। #HugDay#ValentineWeek#RajasthanPolicepic.twitter.com/lXzLvKZ3co
The creative messages, with a twist of humour, are being shared by the State police force on its official Facebook account and Twitter handle to grab the attention of youngsters who might easily fall prey to scamsters.
The social media posts are also being used to desist the youth from following gangsters on social media.
A tweet shared on 'Chocolate Day' (February 9) was the iconic poster from the blockbuster film '3 Idiots'.
राजस्थान पुलिस का डिजिटल चॉकलेट डे

इंटरनेट की दुनिया चॉकलेट सी लुभाती है। इसकी मिठास खटास में ना बदलें, यह आप पर निर्भर है।

ऑनलाइन फ्रॉड से बचना है तो, रखिए साइबर सेफ्टी का ध्यान। #ChocolateDay#ChocolateDay2023#ValentinesWeek#RajasthanPolicepic.twitter.com/WncXGUhTTK
Captioned "jahapanah tussi great ho, chocolate kubool karo," a famed dialogue from the film, it alerted people to stay away from "digital chocolate" and adopt cyber safety to ensure "all is well" — a catchphrase of one of the lead protagonists as well as a hit song from the 2009 movie.
Warning people against sharing their OTPs with anyone, a post on 'Rose Day' (February 7) had the image of a WhatsApp inbox with two people chatting about how one of them lost all savings due to an online scam.
A caption at the bottom of the image read, "roz roz tum jo sanam aisa karoge, paise lut jayenge to aahen bharoge (If you keep on doing this, you will lose all your money)" — a parody of a song from the 1996 Bollywood blockbuster "Saajan Chale Sasural".
And for girls, Police came up with a creative message to caution them about how fake profiles on social media can harm them.
"Kal aaj aur kal, kabhi bhi aa sakta hai fake proposal," the post read.
कल, आज या कल~
आपके पास भी आ सकता है कोई #FakeProposal.

ध्यान रखें,#Proposal देने वाला कहीं फेक आइडेंटिटी तो नहीं कर रहा यूज।

रहें #Alert, लुभावने प्रस्ताव से ना हों #Confuse.#proposeday2023#Propose_day#ValentinesWeek#K3G#KKKG#RajasthanPolicepic.twitter.com/lPN6nqIheB
Additional Director General (Technical Services) Sunil Dutt said the plans of cyber criminals can be thwarted if there is awareness among the masses.
And linking Valentine's week with cyber crime is an effort in that direction, he said.
Though it is a long-term campaign of Rajasthan Police to make people aware about cyber crimes, we picked Valentine's week to reach out to youngsters, Mr. Dutt said.
Talking about the force’s latest post shared on ‘Promise Day’ on Saturday, the officer said a poster from the cult film ‘Gangs Of Wasseypur’ has been used to desist people from getting influenced by gangsters through social media posts.
"Hazrat, hazrat, hazrat, aaj ka pakka promise, na gansgters ko karenge follow na kisi ko karne denge (let's promise not to follow gangsters and discourage others from doing so)," read the caption accompanying the poster depicting actor Manoj Bajpayee.
According to officials, the social media team of the Rajasthan Police has been quite active for some time now and similar creative campaigns have been launched from time to time over the last one-and-a-half years.
Film songs, poetry, punchlines, and dialogues from popular Hindi movies are being used in the campaigns, they said.
Interesting messages are easily understood by the common man. Earlier, on occasions like Holi, and New Year's Eve, such campaigns were launched and proved to be very popular, the officer said.
Meanwhile, people too are appreciating the innovative initiative albeit with some suggestions.
"It is a humble request to put a ban on all kinds of songs and events that promote gun culture. Also, instructions should be given to You Tube and Instagram to not encourage them," tweeted Dharm Bainada.
Another social media user, Vishwadeep said, "Rajasthan Police is doing a great job to reform youngsters who have deviated from the path of goodness. I would like to thank the officers running this campaign and also the entire Police department."
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Ioanna is a writer at TNW. She covers the full spectrum of the European tech ecosystem, with a particular interest in startups, sustainabili (show all) Ioanna is a writer at TNW. She covers the full spectrum of the European tech ecosystem, with a particular interest in startups, sustainability, green tech, AI, and EU policy. With a background in the humanities, she has a soft spot for social impact-enabling technologies.
In a coordinated action with US authorities, the UK has imposed sanctions on seven Russian cyber criminals associated with the deployment of the Conti and Ryuk ransomware as well as the Trickbot banking trojan. This follows a thorough investigation led by the National Crime Agency (NCA) and marks the UK’s first-ever joint cyber crime sanctions.
According to the British government, ransomware is a “tier one national security threat” that’s increasingly used to attack businesses and public sector organisations.
Ransomware groups known as Conti, Wizard Spider, UNC1878, Gold Blackburn, Trickman, and Trickbot have been responsible for the deployment of ransomware strains including Conti, Ryuk, and Trickbot.
The groups target organisations they expect would pay the most and time their attacks to cause the maximum damage. Conti and Ryuk alone have affected 149 UK individuals and businesses, extracting at least an estimated £27 million.
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Conti’s recent victims in the UK include the Scottish Environment Protection Agency, food distribution firm Reed Boardall, Cleveland Council, and forensic laboratory Eurofins.

“These criminals and those that support them are not immune to UK action.
And although the group was disbanded in May 2022, government reporting suggests that members continue to be involved in threatening UK security with new ransomware strains.
“The sanctions are the first of their kind for the UK and signal the continuing campaign targeting those responsible for some of the most sophisticated and damaging ransomware that has impacted the UK and our allies,” Graeme Biggar, NCA’s General Director, said in a statement.
“The United States and the United Kingdom are taking coordinated action targeting cyber criminals who launched assaults against our critical infrastructure,” Antony J. Blinker, US Secretary of State, highlighted in an associated press release. “We will continue to work with the United Kingdom and with other international partners to expose and disrupt cyber crime emanating from Russia.”
The people sanctioned include the following individuals:
The seven individuals are now subject to travel bans and asset freezes. In addition, making funds available to them, such as paying ransomware — including crypto assets — has been strictly prohibited.
The US Treasury Department warned that “any foreign financial institution that knowingly facilitates a significant transaction, or provides significant financial services for any of the individuals or entities designated today could be subject to US correspondent or payable-through account sanctions.”
Through their collaboration, the UK and US authorities said they will continue to expose cyber criminals associated with the ransomware groups and crack down on their activities, aiming to reinforce their cyber security.
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How To Earn An Associate in Cybersecurity – Forbes Advisor  Forbes
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Comments Due:  February 22, 2023
Reply Comments Due: March 24, 2023
On January 6, 2023, the FCC released a Notice of Proposed Rulemaking that seeks to update and strengthen the Commission’s rules concerning data breaches implicating customer proprietary network information (CPNI), including breaches impacting Telecommunications Relay Service (TRS) providers. On January 23, 2023, a summary of the Notice was published in the Federal Register, which establishes the comment due dates.
More specifically, with respect to TRS, the item proposes:
Additionally, the item seeks comment on the following issues as they relate to TRS providers:
Interested parties may file comments by accessing the Electronic Comment Filing System at https://www.fcc.gov/ecfs/filings.  All filings must reference WC Docket No. 22-21. People with disabilities who need assistance to file comments may request assistance by email to FCC504@fcc.gov. 
Links to the item:
URL:  https://www.fcc.gov/document/fcc-proposes-updated-data-breach-reporting-requirements  
Text:  https://docs.fcc.gov/public/attachments/FCC-22-102A1.txt
Word:  https://docs.fcc.gov/public/attachments/FCC-22-102A1.docx  
PDF:  https://docs.fcc.gov/public/attachments/FCC-22-102A1.pdf
For general information about CPNI, visit: https://www.fcc.gov/enforcement/areas/privacy.  For specific information about this item, contact Melissa Kirkel, Competition Policy Division, Wireline Competition Bureau, at (202) 418-7958 or melissa.kirkel@fcc.gov.  Individuals who use videophones and are fluent in American Sign Language (ASL) may call the FCC’s ASL Consumer Support Line at (844) 432-2275 (videophone).

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