Australia: Election latest, tariff twist, Virgin travails
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Techday NZ
2 hours ago
- Techday NZ
Global ransomware attacks drop 43% but threats evolve quickly
Ransomware attacks worldwide declined by 43% in the second quarter, yet threats continue to adapt and evolve according to a new report from NCC Group. The report found a notable decrease in global ransomware activity, with incidents dropping by six percent month-on-month in June, amounting to 371 cases. Over the quarter, attacks fell by 1180 cases compared with the previous quarter. Experts attribute the reduction to seasonal slowdowns, including holiday observances such as Easter and Ramadan, as well as increased law enforcement interventions disrupting key ransomware operators. Analysis suggested the downturn may be temporary, with warnings that cybercriminals are likely to use this time to regroup and adopt more sophisticated social engineering strategies. Key disruptions in the ransomware ecosystem have opened opportunities for emerging groups to exploit gaps and continue targeting organisations. Sectors under attack The industrial sector remained the most targeted, experiencing 27% of all recorded attacks in June. Across the entire quarter, industrials represented nearly 30% of ransomware incidents, reaffirming the sector's prominence as a target for cybercriminals. Attacks on the consumer discretionary sector, which includes retail, dropped notably from 102 incidents in May to 76 in June, coinciding with reduced activity from the Scattered Spider group. Previously, Scattered Spider had claimed responsibility for prominent attacks on major retailers such as Marks & Spencer and the Co-op in May. Healthcare was the third most targeted sector, recording 42 attacks in June, almost double the figures reported in May. The information technology sector followed, with 33 attacks during June. Threat groups' activities In June, the ransomware group Qilin was named the most active, responsible for 16% of all attacks - rising from third place in May - and increasing its activity from 95 incidents in the first quarter to 151 in the second quarter. Qilin has increasingly targeted both industrial and IT sectors and now offers legal assistance to its affiliates, helping them navigate law enforcement risks and improve their ability to pressure victims into paying ransoms. This is seen as indicative of the more structured, business-oriented approach developing within ransomware-as-a-service models. Akira was the second most active group in June with 31 recorded attacks, rising from its fourth-place ranking in May, while the Play group fell to third with 29 incidents. The SafePay group followed, dropping to fourth place with 27 attacks after suspicions of a recent rebranding. Geographical impact North America experienced the highest proportion of ransomware attacks, accounting for 58% of incidents in June and 52% across the entire second quarter. Europe saw a decrease in attacks by 8% to make up 21% of global cases, fewer than half the number reported in North America. Asia was the origin of 12% of attacks, with South America recording the smallest regional share at four percent. Cyber warfare and political motives The report observed that ransomware is increasingly being used as part of political and cyber warfare tactics. In June, the Handala group - a pro-Palestine entity - claimed responsibility for targeting 17 Israeli organisations in the aftermath of significant regional conflict between Iran and Israel. The timing of the attacks, which began immediately following Israeli strikes on Iran, indicated a likely retaliatory motivation and suggested that ransomware could become further entrenched as a political tool. The UK Government's recent Industrial Strategy has highlighted the importance of cybersecurity in protecting vital national interests. Increased cyber warfare activity is leading to more robust state-level responses and driving the adoption of cybersecurity-focused policies globally. "The volume of victims being exposed on Ransomware leak sites might be declining but this doesn't mean threats are reduced. Law enforcement crackdowns and leaked ransomware source code is possibly a contributing factor as to a drop in activity, but ransomware groups are using this opportunity to evolve through rebranding and the use of advanced social engineering tactics. We've already tracked 86 new and existing active attack groups this year, and we're on course to surpass 2024's record. The increased number of attackers means a broader range of attack methods that businesses need to be prepared for. Both organisations and nations should take this as a sign to remain vigilant. Investing in cyber security and intelligence-led defences is the key to staying ahead of increasingly agile threat actors." These comments from Matt Hull, Global Head of Threat Intelligence at NCC Group, reflect ongoing concerns that while raw attack numbers may have declined, the risk from ransomware remains significant due to the continued evolution of both criminal tactics and the number of threat actors.
Otago Daily Times
14 hours ago
- Otago Daily Times
US 'will sell so much' beef to Australia after relaxed restrictions: Trump
The United States will sell "so much" beef to Australia, US President Donald Trump said today after Canberra relaxed import restrictions. He added that other countries that refused US beef products were on notice. Australia on Thursday said it would loosen biosecurity rules for US beef, something analysts predicted would not significantly increase US shipments because Australia is a major beef producer and exporter whose prices are much lower. "We are going to sell so much to Australia because this is undeniable and irrefutable Proof that US Beef is the Safest and Best in the entire World," Trump said in a post on Truth Social. "The other Countries that refuse our magnificent Beef are ON NOTICE," the post continued. Trump has attempted to renegotiate trade deals with numerous countries he says have taken advantage of the United States – a characterisation many economists dispute. "For decades, Australia imposed unjustified barriers on US beef," US Trade Representative Jamieson Greer said in a statement, calling Australia's decision a "major milestone in lowering trade barriers and securing market access for US farmers and ranchers." Australia is not a significant importer of beef, but the United States is, and a production slump is forcing it to step up purchases. Last year, Australia shipped almost 400,000 metric tons of beef worth $US2.9 billion ($NZ4.8 billion) to the United States, with just 269 tons of US product moving the other way. Australian officials say the relaxation of restrictions was not part of any trade negotiations but the result of a years-long assessment of US biosecurity practices. Canberra has restricted US beef imports since 2003 due to concerns about bovine spongiform encephalopathy (BSE), or mad cow disease. Since 2019, it has allowed in meat from animals born, raised and slaughtered in the US but few suppliers were able to prove that their cattle had not been in Canada and Mexico. On Wednesday, Australia's agriculture ministry said US cattle traceability and control systems had improved enough that Australia could accept beef from cattle born in Canada or Mexico and slaughtered in the United States. The decision has caused some concern in Australia, where biosecurity is seen as essential to prevent diseases and pests from ravaging the farm sector. "We need to know if [the government] is sacrificing our high biosecurity standards just so Prime Minister Anthony Albanese can obtain a meeting with US President Donald Trump," shadow agriculture minister David Littleproud said in a statement. Australia, which imports more from the US than it exports, faces a 10% across-the-board US tariff, as well 50% tariffs on steel and aluminium. Trump has also threatened to impose a 200% tariff on pharmaceuticals. Asked whether the change would help achieve a trade deal, Australian Trade Minister Don Farrell said: "I'm not too sure." "We haven't done this in order to entice the Americans into a trade agreement," he said. "We think that they should do that anyway."
NZ Herald
15 hours ago
- NZ Herald
Infratil and Ebos help drive NZ stocks higher
Late in the New Zealand trading day, Australia's S&P/ASX 200 was down 43.10 points at 8,666.30. The index has lost 1.04% for the last five days, but sits just 1.25% below its 52-week high. The main influences on the local S&P/NZX50 index were infrastructure investor Infratil, up 26c or 2.3% at $11.45, and medical supplies distributor Ebos, up 41c at $41.17. On the downside, utilities software provider Gentrack dropped by 61c or 5.5% to $10.52 after announcing it had been informed by an Australian customer it was no longer in the frame for replacing the customer's current platform. 'Whilst the financial impact of this does not warrant disclosure, out of caution we are providing this update to our investors,' Gentrack said. Salt Funds managing director Matt Goodson said Gentrack had lost out to its main competitor, Kraken, which is part of Britain's Octopus Energy. 'It should not have come as a shock because it was suspected by some, but the actual confirmation of it has seen the stock fall,' Goodson said. Sky Network TV fell 8c to $3.06 after spiking higher earlier in the week on news it would buy the troubled Discovery NZ for $1. Among the minor issues, takeover target Metro Performance Glass, which has a market cap of $9m, gained 0.3 of a cent to 5c. Competitor Viridian NZ's 8c per share offer for Metro Glass is before the Commerce Commission, which today issued a 'Statement of Issues' relating to the application. 'The commission has identified potential adverse competitive effects arising from a loss of competition between Viridian and Metro in glass processing, supply and installation markets where they are close competitors,' it said. Goodson said the commission 'clearly has issues' with Viridian buying Metro Glass because they are the two major players in glass processing and installation. 'I guess the question then is if Viridian is not allowed, what becomes of Metro Glass, given their debt levels,' Goodson said. Looking ahead, annual meetings on Wednesday for Ryman Healthcare and Mainfreight should give investors some clues as to how the two leading stocks are tracking in the current financial year. Later in the week, second-quarter results from Apple, Amazon and Microsoft – part of America's so-called Magnificent Seven – are due out. In the big picture, the ongoing spat between US President Donald Trump and Federal Reserve chairman Jerome Powell continues to be a concern for the financial markets as investors worry about the US central bank's independence. Jamie Gray is an Auckland-based journalist, covering the financial markets, the primary sector and energy. He joined the Herald in 2011.
