DUAL Europe’s Post

Alone in the first half of 2023, tens of billions of cyber attacks were performed or generated -comprising almost ¾ of digital traffic-. Having an internet presence of your business in 2024 requires cybersecurity measures and constant monitoring against all kinds of threats. Skyflare offers online shops access to a holistic protection so your business and your customer journey remain safe.

Last month, our Group CEO, Aki Hussain, visited our team in Munich and spoke to German newspaper Frankfurter Allgemeine Zeitung (FAZ) about the specialist nature of our business, how the cyber risk has evolved since we first introduced cyber insurance to the German market, and the opportunities surrounding AI and the ways we are already exploring some of its potential applications. You can read the full article here: https://lnkd.in/eXcfVvD3

Thank you for posting Olaf Classen. One does not think the challenge is one of perpetrators being afraid of the German Justice system, or nation state justice systems in general. Cyber is an international problem and there is little will, or coordination, between international law enforcement to effect change on hacking groups. The cyber problem is to big and complex. However, it's not the hackers that should be concerned about the justice system in the short term. Cyber regulation transfers cyber risk into the board rooms of covered organisations, placing civil and criminal liability at the feet of boards. Regulation that the EU justice system is gearing up to implement and enforce. Regulators won't have to go far to demonstrate compliance, with EU NIS 2 and DORA only 11 months away and the frequency and severity of hacks increasing. It may not take long to find a CNI provider or FI to question about cyber risk management compliance and test the justice system. Ted Dziekanowski Brian D. McCarthy George Sawyer Rich Waite, M.Ed. Veritas GRC #cybersecurity #cyberriskmanagement #cyberregulation

📢 Ferrari Narrowly Escapes Sophisticated AI-Based Identity Fraud Attempt! Ferrari recently averted a highly sophisticated AI-driven scam that targeted the company's financial assets. The attackers employed advanced deepfake technology to impersonate Ferrari's CEO, aiming to authorize a substantial financial transaction. This case exemplifies the escalating threat posed by AI-based fraud, which is becoming increasingly difficult to detect and counteract. The Incident: In this audacious attempt, cybercriminals used AI to create a highly convincing replica of Ferrari's CEO's voice and communication style. The fraudsters then initiated a request for a large financial transfer, hoping to exploit the company's trust in its leadership and the seamless execution of internal protocols. Fortunately, Ferrari's security measures and the vigilance of its staff prevented the fraudulent transaction from occurring. The Growing Threat of Deepfake Technology: Deepfake technology, which leverages machine learning and AI to create realistic but fake audio, video, and images, is evolving rapidly. These advancements make it easier for cybercriminals to deceive even the most cautious and well-prepared organizations. As demonstrated in the Ferrari case, the stakes are high, with potential financial losses, reputational damage, and operational disruptions. Why This Matters: Increased Sophistication: As deepfake technology becomes more refined, the potential for high-stakes corporate fraud rises. This incident underscores the need for businesses to recognize and mitigate these risks proactively. Economic Impact: Successful AI-driven fraud can result in significant financial losses. The potential for such scams to impact global markets and corporate stability is substantial. Trust and Security: Maintaining trust in digital communications and transactions is paramount. Incidents like this erode confidence and necessitate robust verification and security protocols. How DeepDetectAI Can Help: At DeepDetectAI, we specialize in detecting and preventing AI-based fraud. Our cutting-edge solutions are designed to stay ahead of emerging threats, ensuring your business remains secure. We offer: Advanced Deepfake Detection: Utilizing sophisticated algorithms to identify and neutralize deepfake content. Comprehensive Fraud Prevention: Implementing multi-layered security measures to protect against various forms of identity fraud. Continuous Monitoring and Support: Providing real-time monitoring and support to maintain the integrity of your operations. Investing in robust cybersecurity measures is no longer optional—it's essential. Stay protected with DeepDetectAI. Ferrari #CyberSecurity #AI #Deepfake #FraudPrevention #DeepDetectAI #Ferrari For more details: Ferrari entgeht raffiniertem KI-basierten Identitätsbetrug. ( https://lnkd.in/efqz6Gi3)

While catching up with the online world after a two-week holiday, I wondered about the CrowdStrike event that hit the internet so hard while I was away. I was surprised because CrowdStrike is not a name one would associate with cyber attacks, but rather, the name of a software supplier in the cybersecurity space. I learned that they made a big mistake by shipping software that is deployed automatically on customers' systems, causing Windows machines to go into a crash loop. In my opinion, it would take just a little common sense to have a tested and staged roll-out of the "Rapid Response Content." I question if executable code is necessary in the "Rapid Response Content." It appears common sense was overruled by the requirement to roll these updates out, as soon as possible. Another highlight is that CrowdStrike is ISO 27001 certified and lists 27 "compliance certifications" on its web page. https://hubs.ly/Q02KbW4y0 Even with all those compliance certificates, they still caused a global outage of Windows servers that insurance companies estimate will cost US Fortune 500 companies $5.4 billion. https://hubs.ly/Q02Kc5H30 However, these regulations, like ISO 27001, ISO 27015, and all the others, are probably precisely what CrowdStrike and its competitors use to sell their services and solutions. CrowdStrike offers a simple answer to the "cyber threat" for its customers. Ironically, the "protection" turned back on those customers and morphed into the ultimate strike. Who should take responsibility for the damage? Countless canceled flights, delayed surgeries, and an endless list of damage and annoyance. The world sees the guilty entity. CrowdStrike has protected itself with "general business terms" protecting it from liabilities and publishes, following the language of the regulations, a "Post Incident Review," saying as little as possible. Well, the law is above contracts and overrules "general business terms." I am not a lawyer and do not understand the details. Still, I am eager to see if airlines and others will receive reimbursement for damages caused by CrowdStrike if these lawsuits find different judgments in different Countries. Remember, Lufthansa tried to get its damage paid from the Last Generation activists that caused some canceled flights recently. https://hubs.ly/Q02Kc6fk0 I am underwhelmed by this behavior and see no excuse for such an epic failure. Others manage to create much larger software projects and have the necessary processes, CI test loops, automatic static analyzer runs, and so forth in place to avoid such failures. With enough effort, one can squeeze a reasonable process into a 60-minute release cycle. I believe this was negligent behavior on CrowdStrike's part.

The latest situation report on #cybersecurity (known as “Lagebericht) by German Ministery of Interior Bundesministerium des Innern und für Heimat summarizes that the following 4 sectors were primarily targeted by cyber attacks in 2023: Healthcare, education, finance and IT service providers. The latter sector has led to disruptions in public administration with 72 municipalities in total. Additionally the 28 % increase in foreign #cybercrime offense is alarming. A Security Operations Center (#SOC) with its staff detects and isolates attacks and sabotage at an early stage.

Read the post from my cousin Brad and if you need help ensuring your US Based business is secure reach out to Brad Chapman and he can ensure you are.

Data theft, blackmail, sabotage – attacks by hackers are becoming more frequent and trickier. Prevention and cyber insurance protect against the often enormous damage. Experts such as Carsten Dreyer (TAS Touristik Assekuranz-Service GmbH), Frederik C. Köncke (VVDG Verlags- und Industrieversicherungsdienste GmbH/ENUR Expertennetzwerk) und Stefan Winiarski (MDT travel underwriting GmbH) explain which insurance is best for travel agencies, small, medium-sized and large tour operators. #cyberinsurance #cyberprotection #cybercrime #cyberfraud #enur #fvwtraveltalk

The BKA provided interesting insights here, which Daniel Schrader condensed nicely. For non-native German-speaking people, use the translation button to view the condensed information. A great recommendation also is to use an LLM that can handle PDFs, e.g., Gemini. #BKA #CyberSecurity

Cybersecurity is emerging from the shadows! Unseen and costly the measures of cybersecurity protect a company. If cybersecurity rises to awareness it is usually because of an even more expensive incident... Successfully tackled *cybercrime* is in the spotlight here! This sure makes the world a safer place to be :-) That does not mean that you can take down your guards... others are still out there! *BETTER SAFE THAN SORRY!* Keep investing into your cybersecurity posture. It pays to invest!