And the repercussions can be devastating and could lead to US Financial instability. According to a paper released by the security researchers related to the financial exchange, a well planned cyber attack on the US banking system is due to be launched in mid-2020.
Now the third news is related to a cyber alert issued by the Federal Reserve Bank of New York. As they are seen first infecting the database, siphoning a portion of data and then encrypting the database till a ransom is paid. However, the developers of ransomware have evolved differently nowadays. Picanol Group which is basically into cloth weaving industry has made all arrangements to lessen the impact on its production units and minimize the impact on a financial note.Ī ransomware attack is a kind of malware attack where hackers manage to infiltrate a network database with malware and encrypt data until a ransom is paid. The statement says that the company fell victim to a cyberattack on January 13th,2020 and all its services based in Romania, China and Ypres were reported to have been disrupted due to the attack. But in years to come, adding allies such as Canada to the data exchange alliance related to Cybersecurity might be explored.Ĭoming to the second Cybersecurity related news which is trending on Google, Belgian based company Picanol has released a press statement early today that it has become a victim of a ransomware attack.
Formerly, the system will be used by only two countries.
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