Taiwan was one of the countries worst hit by ransomware attacks last year, falling victim to millions of attacks, according to Trend Micro Inc’s (趨勢科技) annual security roundup.
Global software security company Trend Micro found in its 2017 Annual Security Roundup: The Paradox of Cyberthreats that companies worldwide lost up to US$5 billion due to massive ransomware outbreaks.
That is four times the level recorded in 2016, although the number of ransomware-related threats decreased from 1.078 billion in 2016 to 631 million last year.
Although there were fewer ransomware attacks last year, they had greater impact, the company said.
These included the WannaCry ransomware attack, which is estimated to have affected more than 200,000 computers in 150 countries in May last year.
Taiwan was heavily affected by the malware, with the National Security Bureau reporting that 185 computers were infected.
Other features of last year’s attacks were the tendency to use business e-mail compromises — scams targeting companies in which the hacker impersonates an executive and requests wire transfers or sensitive information via e-mail — and the focus on cryptocurrencies, such as bitcoin.
The growing popularity and profitability of cryptocurrencies has led cybercriminals to target the field, Trend Micro said.
Companies that need to comply with the EU’s newly passed General Data Protection Regulation (GDRP) should double down on cybersecurity measures, as cybercriminals could target them knowing they would have to pay a fine for any instances of leaked data, it said.
Cybercriminals could steal data from such companies and charge a ransom just below the fine they would be required to pay based on the GDRP, it added.
Cybercriminals are developing new ways to make money from cyberattacks — methods that are targeted and specific so they can optimize the profitability of each attack, Trend Micro marketing manager Jon Clay said.
Companies need to protect themselves with the newest versions of cyberprotection software to minimize risks, he added.
HANDOVER POLICY: Approving the probe means that the new US administration of Donald Trump is likely to have the option to impose trade restrictions on China US President Joe Biden’s administration is set to initiate a trade investigation into Chinese semiconductors in the coming days as part of a push to reduce reliance on a technology that US officials believe poses national security risks. The probe could result in tariffs or other measures to restrict imports on older-model semiconductors and the products containing them, including medical devices, vehicles, smartphones and weaponry, people familiar with the matter said. The investigation examining so-called foundational chips could take months to conclude, meaning that any reaction to the findings would be left to the discretion of US president-elect Donald Trump’s incoming team. Biden
INVESTMENT: Jun Seki, chief strategy officer for Hon Hai’s EV arm, and his team are currently in talks in France with Renault, Nissan’s 36 percent shareholder Hon Hai Precision Industry Co (鴻海精密), the iPhone maker known as Foxconn Technology Group (富士康科技集團) internationally, is in talks with Nissan Motor Co’s biggest shareholder Renault SA about its willingness to sell its shares in the Japanese automaker, the Central News Agency (CNA) said, citing people it did not identify. Nissan and fellow Japanese automaker, Honda Motor Co, are exploring a merger that would create a rival to Toyota Motor Corp in Japan and better position the combined company to face competitive challenges around the world, people familiar with the matter said on Wednesday. However, one potential spanner in the works is
HON HAI LURKS: The ‘Nikkei’ reported that Foxconn’s interest in Nissan accelerated the Honda-merger effort out of fears it might be taken over by the Taiwanese firm Nissan Motor Co has become the latest buyout target in Japan as it explores a merger with Honda Motor Co and faces an overture from Hon Hai Precision Industry Co (鴻海精密), known as Foxconn Technology Group (富士康科技集團) internationally. Shares in Nissan yesterday jumped 24 percent, the most on record, to hit the daily limit, after the two Japanese automakers acknowledged that talks are ongoing to better position themselves for competitive challenges during a time of upheaval in the global auto industry. Foxconn — a Taipei-based manufacturer of iPhones, which has been investing heavily in factories to build electric vehicles — has also
CHIP SUBSIDY: The US funding would help alleviate the financial pressure from building two fabs in the US and should lift gross margins in 2026, the company said GlobalWafers Co (環球晶圓), the world’s third-largest silicon wafer supplier, yesterday said it is to receive US$406 million in subsidies from the US Department of Commerce for two new US fabs under the CHIPS and Science Act, with the first batch of the funds likely coming next year. The grant represents 10 percent of the planned investments of US$4 billion in advanced semiconductor wafer manufacturing facilities in Texas and Missouri, GlobalWafers said. The commerce department is to disburse the funds based on the completion of project milestones over a multiyear timeframe, the company said. Along with the tax credit, which is equal to
RSS