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.
PATENTS: MediaTek Inc said it would not comment on ongoing legal cases, but does not expect the legal action by Huawei to affect its business operations Smartphone integrated chips designer MediaTek Inc (聯發科) on Friday said that a lawsuit filed by Chinese smartphone brand Huawei Technologies Co (華為) over alleged patent infringements would have little impact on its operations. In an announcement posted on the Taiwan Stock Exchange, MediaTek said that it would not comment on an ongoing legal case. However, the company said that Huawei’s legal action would have little impact on its operations. MediaTek’s statement came after China-based PRIP Research said on Thursday that Huawei filed a lawsuit with a Chinese district court claiming that MediaTek infringed on its patents. The infringement mentioned in the lawsuit likely involved
Taipei is today suspending work, classes and its US$2.4 trillion stock market as Typhoon Gaemi approaches Taiwan with strong winds and heavy rain. The nation is not conducting securities, currency or fixed income trading, statements from its stock and currency exchanges said. Authorities had yesterday issued a warning that the storm could affect people on land and canceled some ship crossings and domestic flights. Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) expects its local chipmaking fabs to maintain normal production, the company said in an e-mailed statement. The main chipmaker for Apple Inc and Nvidia Corp said it has activated routine typhoon alert
GROWTH: TSMC increased its projected revenue growth for this year to more than 25 percent, citing stronger-than-expected demand for AI devices and smartphones The Taiwan Institute of Economic Research (TIER, 台灣經濟研究院) yesterday raised its forecast for Taiwan’s GDP growth this year from 3.29 percent to 3.85 percent, as exports and private investment recovered faster than it predicted three months ago. The Taipei-based think tank also expects that Taiwan would see a 8.19 percent increase in exports this year, better than the 7.55 percent it projected in April, as US technology giants spent more money on artificial intelligence (AI) infrastructure and development. “There will be more AI servers going forward, but it remains to be seen if the momentum would extend to personal computers, smartphones and
Catastrophic computer outages caused by a software update from one company have once again exposed the dangers of global technological dependence on a handful of players, experts said on Friday. A flawed update sent out by the little-known security firm CrowdStrike Holdings Inc brought airlines, TV stations and myriad other aspects of daily life to a standstill. The outages affected companies or individuals that use CrowdStrike on the Microsoft Inc’s Windows platform. When they applied the update, the incompatible software crashed computers into a frozen state known as the “blue screen of death.” “Today CrowdStrike has become a household name, but not in