Facebook to pay a whopping $5 billion penalty in final settlement with FTC

Indian enterprises were flooded with a whopping 14.6 crore malware threats in 2019 - a growth of 48 per cent (year-on-year) compared to 2018, a new report said on Friday.

Manufacturing, BFSI (banking, financial services and insurance), education, healthcare, IT/ITES, and the government were the most at-risk industries in the country, said the report from Seqrite, the enterprise arm of Pune-based IT security firm Quick Heal Technologies.

Interestingly, almost a quarter (23 per cent) of the threats were identified through 'Signatureless behaviour-based' detection by Seqrite, indicating how a growing number of cybercriminals were deploying new or previously unknown threat vectors to compromise enterprise security.

"With the latest Seqrite annual threat report, we want to empower CIOs, CISOs, business leaders and all key public stakeholders with the insights they need to combat the growing complexity of the threat landscape," said Sanjay Katkar, Joint Managing Director and CTO, Quick Heal Technologies.

The most prominent trend was the drastic increase in the volume, intensity, and sophistication of cyber-attack campaigns targeting Indian enterprises in 2019.

The rapid integration of IoT devices, BYOD (bring your own device), and third-party APIs into enterprise networks has created newer security vulnerabilities that might go unnoticed until a major breach occurs.

Threat researchers at Seqrite observed several large-scale advanced persistent threats (APT) attacks deployed against organisations in the government sector.

"The entry of nation-states and organised cybercrime cells into the fray is expected to add more complication to this situation and will require Indian government bodies and corporate enterprises to shore up their cyber defence strategies in 2020 and beyond," the report noted.

More alarming, however, was the continued lack of security awareness amongst enterprises and government organisations.

"Unsecured Remote Desktop Protocol (RDP) and Server Message Block (SMB) protocols continued to be targeted through brute-force attacks," said the report.

Spear phishing attack campaigns leveraging Office exploits and infected macros were also used extensively by cybercriminals to gain access to enterprise networks and steal critical data.

"India's digital journey depends on ensuring robust cybersecurity for all stakeholders within the enterprise ecosystem," said Katkar.

The sharp spike should be a cause of concern for CIOs and CISOs in the country, especially given the growing digital penetration within their enterprise networks.

"With network vulnerabilities and potential entry points increasing at a rapid pace, threat actors are expected to leverage artificial intelligence (AI) capabilities to power their malware campaigns in the future to capitalise on newer attack vectors," the report added.

The Brazilian government said that the Amazon rainforest witnessed deforestation of a record 829 sq km in May, the highest monthly level since 2015.

On Friday, the National Institute for Space Research (INPE) said that deforestation in the Amazon increased by 91 sq km compared to the same period last year, reports Xinhua news agency.

Between January and April, destruction of the forest by illegal loggers and ranchers rose 55 per cent, or a total of 1,202 sq km was wiped out, it said.

The Real-time Deforestation Detection system, a federal project created to monitor human activity in the Amazon, alerted authorities to the increase in the rate of destruction of the rainforest.

A recent study by the Amazon Environmental Research Institute (IPAM) warned that deforestation in 2020 could reach 11,900 sq km if the pace of May, June, and July follows the historical average.

Deforestation in the region has soared since President Jair Bolsonaro took office last year, according to conservation groups.

He has argued that more farming and mining in protected areas of the forest were the only way to lift the region out of poverty.

Bolsonaro's environmental policies have been widely condemned but he has rejected the criticism, saying Brazil remains an example for conservation.

New Delhi, Jun 18: Vodafone Idea on Thursday told the Supreme Court that it has incurred Rs 1 lakh crore losses as it insisted it is not in a position to furnish bank guarantees.

A bench comprising Justices Arun Mishra, S. Abdul Nazeer, and M.R. Shah, taking up the adjusted gross revenue (AGR) matter through video conferencing, directed the telecom companies to submit their financial documents and books for the last 10 years.

Asking Vodafone if it was a foreign company, the bench said that how can the company say it would not furnish any bank guarantee.

"What if you fly away overnight in future without paying anything?" it asked.

Senior advocate Mukul Rohatgi, representing Vodafone Idea, denied his client is a completely foreign firm and cited before the bench its tie-ups and investments.

Vodafone owes over Rs 58,000 crore as AGR dues and so far, has paid close to Rs 7,000 crore.

Rohatgi contended before the court that the telecom company is in a tough situation, and cannot furnish any fresh bank guarantee, as profits have eluded the company in past many quarters. He submitted before the bench that Rs 15,000 crore bank guarantees are lying with the government, and his client's losses are over Rs 1 lakh crore.

"I cannot offer any more surety," he informed the bench.

Justice Mishra noted that this is public money and these dues should be recovered. "Do not tell us that you will pay if you were to make profits... the money must come," he noted.

Justice Shah observed that the telecom industry is the only industry which earned during the Covid-19 pandemic. "After all, this money will be used for public welfare", he said.

Rohatgi argued that his client would have to fold up if orders were issued to clear dues tomorrow. "11,000 employees will have to go without notice, as we cannot pay them," he added.

Senior advocate Abhishek Manu Singhvi, appearing for Bharti Airtel, contended before the court that out of Rs 21,000 crore AGR dues, the company has already deposited a sum of Rs 18,000 crore.

He argued that his client has given a bank guarantee, in excess of demand, to DoT, and supported the proposal for phased repayment of remaining AGR dues. He insisted that the company needs to sit down with the government and calculate the dues. Airtel owes Rs 25,976 crore after paying Rs 18,000 crore, as per the government.

Senior advocate Arvind Datar, representing Tata Telecom, informed the bench that his client has paid Rs 6,504 crore in AGR dues so far, and furnishing a bank guarantee may adversely impact investments in the sector.

The total AGR dues are close to Rs 1.5 lakh crore.

The top court will now take up the matter in the third week of July.