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Cyber Espionage
#Cybersecurity has been a major concern. Cyber espionage is now becoming more sophisticated and widespread both on the international and domestic stages. #Hackers, especially those backed by the Chinese government, are making all efforts to breach top global telecom firms.
Hello and welcome to VARINDIA news hour
Cyber espionage is a form of #cyberattack that steals sensitive data or intellectual property to gain an advantage over a competitive company or government entity. The cyber-espionage campaign lasts at least two years. The campaign’s success shows how dangerous software faults can be, even years after they’ve been identified and made public.
As per US Cyber Advisory, there is a very large size of espionage attack by the Chinese government-backed hackers who have broken into a number of major telecom businesses throughout the world by exploiting known software flaws in routers and other popular networking gear.
The Chinese hackers allegedly exploited networking devices from key vendors such as Cisco, Citrix, Zyxel, QNAP, DrayTek, MikroTik, D-Link, and Netgear in the recently disclosed cyber assault.
The US officials said that the hackers utilised the stolen devices to acquire full access to the network traffic of several private companies and government agencies once they had a foothold within their targets. However, the advisory did not list the identities of persons who were impacted by the campaign, nor did it describe the campaign’s impact. But the US authorities did point out the specific networking devices, such as routers and switches, that Chinese hackers are suspected of routinely targeting, exploiting severe and well-known flaws that basically gave the attackers free reign over their targets.
All of the flaws were in public knowledge, including a five-year-old severe hole in Netgear routers that let attackers circumvent authentication checks and execute any code they want, giving them complete coBy VARINDIA| 31 views
The future of payment is going to be open banking & open finance
#OpenBanking #OpenFinance #DigitalIndia
Open Banking & Open Finance - Future payment system
The push from open banking towards the more encompassing approach of open finance is being driven by several elements, from consumer pressure to regulatory obligations to greater awareness around privacy concerns. However, there is by no means a unanimous approach to open banking, and certain players believe that we are at different stages of completion on the open banking roadmap. Over the last decade we have seen that regulatory requirements are increasing, especially in the areas of privacy, payment services, and financial reporting. A more agile, nimble, proactive approach by regulators has been seen against this backdrop, does this equate to innovative supervision, or simply more regulations? However, the Covid-19 pandemic has increased the perceived importance of having 24/7 online access, frictionless mobile payments, and ensuring fully remote access to banking services.
It is clear that policymakers and regulators are well aware of the negative effects of having too much red tape, country-specific interpretations of regulation and different regulatory treatment of seemingly identical financial services. We have also witnessed recent efforts aimed at solving this issue, which build greater clarity across complex financial regulatory frameworks, and address new digital-specific issues as they emerge - the Digital Markets Act is a good example of this. There are corporates who are looking for technology - especially open banking and APIs - to assist with their digital transformation. They are also seeking banking partners that are focused on innovation and can assist with the transformation journey.
Today's Headline in NewsHours
0:00 Intro
2:02 #PM to interact with beneficiaries of various schemes of #DigitalIndia
2:41 Malicious use of #CobaltStrike by threat actor campaigns is increasing
3By VARINDIA| 29 views
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VENUNADA GOVARDHANALILA || RAMACHANDRA BHADRAVATHI || RAAG BHIMPALASI || ABHANG TAALBy V4 News| 16248 views
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