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ClearBank, a UK banking rails provider, raises $230M from Apax to expand into Europe and the US – TechCrunch

ClearBank a UK fintech that has built a new set of cloud-based financial rails that allows banks and other customers real-time clearance on payment transactions and other financial services has closed a big round of funding, money it will be using to take its services beyond its home market and move into newer areas such as cryptocurrency exchanges. The company has raised 175 million ($230 million at todays conversion rates), from a single investor, the PE firm Apax Partners.

The startup founded in 2015 and launched in 2017 is not disclosing its valuation, but CEO Charles McManus said that the company had prior to this raised 195 million from investors that include Canadian businessman John Risley and PE firms PPF Group and Norther Private Capital, and that its new valuation after Apaxs investment is a significant increase. PitchBook notes that as of the end of December, ClearBanks valuation was just under 274 million, which likely puts the current valuation at $590 million at its most conservative estimate.

But the companys current size and ambitions speaks to potentially larger numbers.Originally founded by Nick Ogden, who was also the founder of WorldPay (which Fidelity acquired for $43 billion, which was at the time the biggest deal ever made in international payments sector), ClearBank currently has 200 customers large financial institutions and fintechs using its infrastructure to enable faster transactions with the list including UK businesses like Tide and Oaknorth, but also international companies like Coinbase, which uses ClearBank for clearing and payments services for its UK customers. Those customers cover some 13 million bank accounts and 3 billion (nearly $4 billion) in assets.

The tech world has been awash in fintech for a number of years with a wide swathe of challenger banks; businesses built on the concept of APIs and cloud computing and embedded financial services from third parties; artificial intelligence, personalization and mobile apps; and a number of other tech-led innovations, all corralled in the call to disrupt incumbents with new and arguably better and easier to use approaches to spending, saving and investing money. The growth of e-commerce and other services on digital platforms has further spurred that trend.

But ClearBanks existence underscores one of the untold truths amid all of that innovation: many of these new services have been built on top of legacy infrastructure. Some companies like Stripe have built tech to get around some of the hurdles that arise as a result of this: for example, it can take typically days to reconcile and settle a transaction on traditional payment rails. Fintechs like Stripe will offer faster processes not because they have rebuilt that infrastructure, but because they have used tech to assess the overall risk of any single transaction getting rejected and is taking the calculated risk itself, charging extra fees to provide that service (and to in aggregate make money from those transactions that offsets any one of them not going through).

Europe and and the U.S. have been very slow in modernizing, McManus said 26 countries are only just implementing the Faster Payment scheme that the UK has had for some time. Just look at the discussions on SWIFT and cutting off Russia, and how slow that has been moving.

The alternative is to build a new version of that infrastructure from the ground up that just works faster, which is what ClearBank says that it has done.

ClearBank describes itself as the first clearing bank to have launched in the U.K. in 250 years the big four that have ruled the clearing roost in the country up to now being Barclays, Lloyds, HSBC and NatWest and its aim is to use the rails it has built to run payments services in the U.K. faster than those incumbents, and continue to expand it to more services in its home market, as well as take them abroad.

Our aim is to provide real-time services for everything, McManus said. As he explains it, ClearBank has built everything into one stack, which not only means that money moving is going through a single system rather than through several different channels, but also lets those plugging into its system better visibility into how funds are moving. That means a greater level of comfort, visibility and faster transactions, he said.

The company today provides banking-as-a-service to its customers both for their needs as businesses, and for them to in turn provide to their customers. It also provides links to the four main channels that are used in UK to handle payments, Faster Payments, BACS, CHAPS and direct debit.

The company launched multi currency and foreign exchange services several months ago to UK customers, and plans for the investment will include expanding that to other currencies and facilitating interbank payments, both to provide the services to existing customers that have international footprints, and to work with customers in other markets.

One of the big changes that fintech has brought is that its become significantly easier for non-financial companies to move into financial services, and in the bid to grow revenues and touchpoints with customers, many have. That spells opportunity for companies that are enabling that adoption.

All companies are becoming fintech companies, and ClearBank is providing the clearing and embedded banking infrastructure for them starting with fintechs themselves, saidMark Beith, a partner at Apax Digital, in a statement. Weve seen the power of its platform first-hand, and we are excited to partner with Charles and the existing shareholders to take ClearBank global.

ClearBanks rise points to how, as fintech continues to mature, were starting to see a new generation of startups emerging that are willing to tackle that last front tier of infrastructure. Just earlier this week, a startup out of Germany called Payrails (the ambition is spelled out in its name) also launched with funding from a16z with its own ambitions to build new infrastructure to handle payments specifically for marketplace and other businesses that sit in the middle of complex transaction architectures.

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Global Cloud Computing Security Software Market Revenue Analysis and Industry Forecast, 2022 to 2028 Top Most Key Players AT The Bite – The Bite

Global Cloud Computing Security Software Market from 2022 to 2028 has a new research paper from MarketQuest.biz. The report includes self-explanatory tables and charts in an easy-to-read format. The research provides a market overview, as well as an official abstract that highlights the key market developments. It also provides readers with information relating to the markets volume, value, and growth rate. Each market category has been thoroughly investigated and given in the study in terms of market segmentation.

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The segmentation analysis includes a complete description of the segments, a review of the market shares held by each segment, the rate of increase for each segment, and the viability of each segment in terms of revenue. The geographic segments are determined using production and consumption figures. A thorough PESTEL overview of the market, the growth rate of each region, detecting patterns based on historical data, and a regional market analysis are all included in the regional research.

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Report give the insight about the key are such as, the factors which govern the internal performance of companies include manufacturing capabilities, revenue generation, profitability, etc., the effect of external factors such as economic situation, currency rate fluctuation, technological advancements, the intensity of competition, etc. are also taken into consideration in the Cloud Computing Security Software market and the report focuses on the research of previous and current market trends.

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Contact UsMark StoneHead of Business DevelopmentPhone: 1-201-465-4211Email: sales@marketquest.biz

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Global Cloud Computing Security Software Market Revenue Analysis and Industry Forecast, 2022 to 2028 Top Most Key Players AT The Bite - The Bite

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Global Healthcare Cloud Computing Market Expected to Reach Highest CAGR During COVID 19 crisis- MicroSoft, IBM, Oracle, Amazon Web Services The Bite…

According to MarketsandResearch.biz study, the Global Healthcare Cloud Computing Market is expected to increase considerably between 2022 and 2028. This research looks at market dynamics, market trends, current trends, issues, challenges, competition analysis, and active firms.

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A rigorous assessment of key primary and secondary data is conducted to create such a comprehensive perspective of both the industrys current business climate. Porters analysis, SWOT analysis, and other specialised analytical approaches are used to complete this one. The segments were analysed using a top-down and bottom-up information synthesis technique. To identify all or most of the elements that impact a choice, the tip-down technique is applied. It evaluates the entire market before descending to lower levels. The basic facts and industry growth prospects are indeed the foundations of the Healthcare Cloud Computing survey that was conducted.

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Which factors, such as drivers, threats, obstacles, entry barriers, opportunities, challenges, competitive approach, and market growth-boosting, are influencing the growth of the Healthcare Cloud Computing market, and provides the reader with a string judgement that can help them develop their business plans and strategies.

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This report can be customized to meet the clients requirements. Please connect with our sales team (sales@marketsandresearch.biz), who will ensure that you get a report that suits your needs. You can also get in touch with our executives on 1-201-465-4211 to share your research requirements.

Contact UsMark StoneHead of Business DevelopmentPhone: 1-201-465-4211Email: sales@marketsandresearch.biz

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Amazon CloudFront Consulting Service Market 2022 Latest Driving Factors, Technology & Applications, Industry Outlook to 2028 Arvato, CyberDuo,…

A SWOT analysis of the global Amazon CloudFront Consulting Service market research report reveals important development opportunities as well as company optimization approaches to improve market growth, constraints, and limitations. The current study examines a variety of topics, including key business trends and future developments, driving forces and barriers, and regional growth scenarios.

The purpose of this study on Amazon CloudFront Consulting Service market research is to help readers gain a better understanding of the market, as well as to identify market potentials and challenges faced by major regions and emerging countries. Statistics and market data have been acquired from trustworthy sources and reviewed by industry experts.

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The report leverages valuable research to gain a competitive advantage. The study focuses on market dynamics by region, type, and application in terms of revenue and forecasting for the period. The current situation and future prospects for major applications, as well as consumption (sales), market share, and growth rate, are all examined in the report.

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This market research covers the global Amazon CloudFront Consulting Service markets current market position, previous performance, supply and demand graphs, production and consumption trends, sales channels, and growth potential. Important trends, fundamental market barriers, primary growth deterrents, and challenges are identified, as well as constant vendor reforms and distinctive growth tactics to resurrect growth, according to the report.

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Want to Partner with the Top Data Science Companies in Mumbai? Here are Top 10 – Analytics Insight

Explore the best data science companies in Mumbai for 2022 for better working standards

Analytics, data science, and the big data industry in India are currently estimated to be Rs 17,615 crore annually (FY18) in revenues (Dataquest estimates), growing at a healthy rate of 33.5% CAGR. Of the annual inflow to the analytics industry, almost 11% can be attributed to advanced analytics, predictive modeling, and data science. A sizable 22% can be attributed to big data. The analytics, data science, and big data industry in India are expected to grow seven times in the next seven years. It is estimated to become a Rs 1,30,000 crore industry in India by 2025. Here are the top 10 data science companies in Mumbai for 2022.

OpenGeeks Labs is focused on offering end-to-end software solutions such as web development, mobile apps development, custom software services, and UI/UX design. It has covered a lot of projects known as Experience Jesus, the H Hub, GOeureka, Solid Fit, Terox, Queen Car, and many more. These are all-powerful, flexible, mobile-friendly solutions, as per the goals, budgets, and timelines of any business.

NGenious Solutions, Inc. is one of the fastest-growing and global enterprise solutions providers to deliver technology-enabled services and solutions. It is popular for being a Microsoft Gold partner as well as a Microsoft cloud solution provider to successfully implement digital transformation strategies. It offers cloud computing, enterprise solutions, process automation, business intelligence, managed support, as well as application development with intranet solutions.

Exponentia.ai is a well-known data science company with a wide range of solutions regarding data science and artificial intelligence such as data solutions, business solutions, AI solutions, and managed services. It is also popular for its unique and customized products namely unified analytics consumption platform, ONE TAP, Engagely.ai, and customer intelligence.

Virtuosity Consulting is focused on executing digital transformation with cutting-edge technologies, as per business models. There are more than 25 million lines of code through digital engineering, digital platform, cryptocurrency, blockchain, and digital intelligence. It helps to develop code easily to deliver world-class technology while simplifying complicated and custom data and software integration challenges. Business intelligence solutions analyze business-centric data to drive in-depth insights to clients efficiently and effectively.

Polestar Solutions & Services is known for unlocking the potential of real-time data to drive innovative technology solutions with consulting and technology expertise. It offers a wide range of services such as MS Power BI, MSBI, SAS, Qlik, and many others with a long product line as well including Mashup Generator, Qlik Buzz, CFO Cockpit, Chaplin AI, Inphinity Forms, and so on.

Happiest Minds is focused on allowing digital transformation for companies by delivering seamless customer experience, business efficiencies as well as in-depth insights. The capabilities of this company cover digital solutions, infrastructure, product engineering, and security. It offers services such as digital business services, product engineering services, agile infra and security services, digital process automation, and analytics. The digital insights services are designed to deliver cutting-edge data analytics solutions, derive in-depth insights, realize digital capital, and many more.

HData Systems is known for its services focused on data science, data warehousing, data analytics, data visualization, data migration, big data implementation, predictive analytics, IoT analytics, and many more. It provides businesses to obtain in-depth insights to make effective data-driven strategies with reliable analysis. It follows a specific path understands the objective, imports the data, explores and cleans the data, models the data, and communicates the outcomes.

Umbrella Infocare offers a wide range of cloud services including AWS data engineering and analytics to take control of real-time data efficiently and effectively. It helps to structure data to make smart decisions, transform real-time raw data into in-depth business insights, as well as visualize data for risk analysis and decision-making. It is known for providing customer-centric and leading-edge solutions for optimizing data to plan business growth with petabytes of data.

Cloud design Technology Solutions is helping in digital transformation with IT consulting and services with domain-centric solutions across all kinds of industries in the world. It has successfully delivered over 500 projects with its automation hub. The products include cloud track and RPA anywhere while being focused on ingesting relevant information out of real-time data. It develops and deploys strong AI strategies to leverage data science and drive in-depth insights for businesses.

Quantiphi is one of the top data science companies offering solutions in AI, data, and cloud including custom AI, conversational AI, data and analytics, marketing analytics, infrastructure modernization, and many more. It helps to harness the power of real-time data with an analytics-driven approach to gain in-depth insights efficiently. It provides database migrations, data lake implementation, enterprise data warehouse modernization, analytics, and BI modernization, and managed services provider.

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Women make up just 24% of the cyber workforce. CISA wants to fix that. – CBS News

As the race to recruit female talent in STEM continues moving ahead with steady progress, stunning statistics still wrack the cybersecurity sector: Women working in cybersecurity currently account forless than one quarter of the overall workforce.

Megan Rapinoe. Sister Rosetta Tharpe. Shirley Chisholm. Donning jeans and a Ukrainian flag t-shirt, the director of the nation's lead cybersecurity agency ticked through PowerPoint slides of women "who took a sledgehammer to the glass ceiling."

"I need your help," said Jen Easterly, director of the Cybersecurity and Infrastructure Security Agency, on Friday to an audience of 1,700 female cybersecurity professionals assembled for a three-day technical conference in Cleveland. "We need to get to 50% of cybersecurity by the year 2030. Think we can do it?" Someone whistled. ACDC pulsed through the speakers. "Come on!" Easterly rallied.

After exiting the stage, Easterly told CBS News she has become accustomed to setting "unreasonable" goals. "That's been sort of my [modus operandi] my entire life," she quipped. "And I honestly believe if you set a super ambitious goal, and you as a leader inspire and empower people, and look at that goal as something that may be challenging, highly ambitious, but is in fact achievable, you can get there."

Pressed on how close America's cyber defense agency is to "getting there," Easterly responded down to the decimal. "Right now, we're at 36.4% women at CISA's workforce, but I think we can get to 50% before 2030." She paused before adding, "Actually, I'm hoping we can get there before 2025."

Easterly says she hopes colleagues across the federal workforce including FBI, NSA, U.S. Secret Service make similar pledges. The Army veteran-turned-corporate leader came close to "getting there" in her previous stint as head of Firm Resilience at Morgan Stanley, where she oversaw a team that was roughly 48% women.

Currently, there's just one woman serving as chief information security officer, or "CISO," among the top 10 largest companies nationwide: Chandra McMahon, CISO of CVS Health. The former executive at Verizon and Lockheed Martin can remember what it was like to be the only woman in the room.

"Cybersecurity is not well understood as a career or as an opportunity," McMahon said during an interview with CBS News on Friday. "What most people don't realize is that there's a spectrum of roles and careers that you can have." McMahon rattled them off: "Penetration testers, ethical hackers, the cyber security engineers and architects."

But the gender gap marks just one of the cybersecurity workforce's persistent challenges. Hispanic, African American, Asian and American Indian/Native Alaskan workers made up just 4%, 9%, 8% and 1% respectively of the cyber security workforce, according to the Aspen Institute.

An estimated 3.7 million cybersecurity jobs are available but unfilled, according to the latest (ISC) Cybersecurity Workforce Study, with 377,000 of those vacancies located in the United States. By that measure, the global cybersecurity workforce will need to grow 65% in 2022 to effectively defend organizations' critical assets.

Last week, Microsoft called recruitment of women "mission-critical" to filling the worldwide cyber vacancies. A survey commissioned by Microsoft Security found that only 44% of female respondents felt sufficiently represented in their industry.

Not all "black hoodies" and "dungeons"

Part of the federal government's cyber strategy is just showing up. Easterly, who ditched plans to appear via video at Friday's Women in Cybersecurity Conference only to instead dance onto stage to the tune of ACDC, recounted the thrill of manning CISA's booth at the conference.

"At the end of the day, if people can see me as the director of America's Cyber Defense Agency, then there are women out there who can say I can be her," she told CBS News.

A decade ago, that lack of visibility in a security field known for operating behind the scenes served as the inspiration for the group behind Friday's conference, Women in Cybersecurity, or "WiCyS."

"I think people have to understand that even though cybersecurity works best when it's invisible, there are so many people behind it," said WiCyS founder Dr. Ambareen Siraj.

"There's this stereotypical notion about cybersecurity that it's all about fighting. And we're all working in some sort of dungeon in black hoodies. But it is really not the case," Siraj said.

Unclogging the cyber talent pipeline will require more than just breaking a stereotype though, with experts advocating for more outreach to non-traditional candidates.

"Some of the best talent we have in cyber did not come from a background in cybersecurity," McMahon said.

Just 38% of women came from an IT background, compared to half of men in today's cybersecurity workforce. According to the (ISC) report, women also have higher rates of entry from self-learning (20%) compared to male counterparts (14%).

"We're now seeing an opening in the market for cyber skills. It's not so siloed in that you must have a cybersecurity degree," McMahon added.

Mind the gap: reshaping the federal workforce

Just 25.2% of the full-time federal cyber workforce is female, compared to 43.6% of government workers nationwide, according to the non-profit Partnership for Public Service, which assesses data from the U.S. Office of Personnel Management and U.S. Census Bureau.

The federal cybersecurity workforce is also decades older than the U.S. labor force. The percent of full-time cyber employees under the age of 30 steadily increased from 4.1% to 6.3% between September 2014 and September 2021. But it still lags behind the almost 20% of the employed U.S. labor force in 2021 that is under age 30. In the federal IT workforce, there are 15 times more employees over the age of 50 than under age 30.

"I think the most fundamental problem in the federal workforce is the lack of generational diversity," said Max Stier, head of the Partnership for Public Service. "There are very, very few young people in the federal technology and cyber workforce. And it becomes this self-fulfilling prophecy: the absence of young talent makes it harder for new young talent to want to come in or stay."

Data on the federal government's cybersecurity workforce vacancies remains scarce, but Stier estimates a "minimum of tens of thousands of jobs" is needed to bolster U.S. cyber defenses.

A 47-page audit by the Senate Homeland Security Committee last year found federal agencies responsible for safeguarding the security and personal data of millions of Americans earned a C- report card in talent recruiting.

Since 2014, the Department of Homeland Security has received a whopping $76 million to create a new cyber talent recruiting system, which launched with 150 job postings, last November. DHS received 650 applications in its first 48 hours of operation but has not released further progress reports on hiring. There are currently five positions posted on the Cyber Talent Management System's dashboard.

Easterly says CISA, an agency of approximately 5,000 full and part time employees, plans to hire between 500-1000 more in the next few years.

In an effort to reach young talent, the agency has also formed partnership programs with the Girl Scouts, Cyber Corps, and Historically Black Colleges and Universities.

But among career leaders in the government's Senior Executive Service (SES), just 28% of STEM leaders are female, and only 19% are people of color.

"It's not just women, but it's all types of diversity. Whether that's neuro diversity, diversity of gender identity, of sexual orientation of race, of national origin," Easterly said.

Leaders from across the federal government and private sector have likened diversity initiatives to a national security imperative.

"What we would like to see is a strong, adequate cybersecurity workforce that has people of all kinds, different racial backgrounds, ethnicity, gender," said Siraj. "When we have diverse people working in cyber, which is an extremely complex place, then it is more likely that we are going to bring the different perspectives and skills necessary to solve complex problems."

No room for "vigilance fatigue" amid Ukraine-Russia crisis

As information warfare plays out in the shadows of the Ukraine-Russia crisis, Easterly worries about "vigilance fatigue."

"It is hard to maintain a very high tempo of extreme preparedness," she conceded. "But we are not even a month into this unjust illegal, unprovoked invasion of a democracy and we need to continue to keep our shields up," Easterly told CBS News.

CISA and the FBI have released two alerts this week alone, including a joint bulletin to satellite communication (SATCOM) networks just days after the hack of telecommunications firm Viasat by unidentified actors disrupted broadband satellite internet access at the start of the Russian invasion.

That fatigue is further punctuated by a cybersecurity workforce shortage that sees more than just the federal government working overtime to monitor potential threats.

CISA and FBI "have not identified cyber activity in the US Homeland attributable to Russian state actors since the invasion commenced," an NYPD intelligence bulletin obtained by CBS News and published last week indicated.

But since November, the Department of Homeland Security has overseen more than 80 briefings, table exercises and informational sessions with the private sector designed to bolster U.S. cyber defenses in the event of Russian malicious cyber activity.

Through its Joint Cyber Defense Collaborative, CISA administers a Slack channel dedicated to information sharing with tech and cybersecurity giants, including Cloudflare, CrowdStrike, Mandiant, Microsoft, Verizon, Google, and Amazon Web Services, along with the NSA, the FBI, and US Cyber Command.

Still, cybersecurity advocates worry that a lack of investment in cybersecurity extends to the larger workforce, with compromises a few clicks away from unwitting employees scanning through email inboxes. "You actually need the broader workforce familiar and capable of addressing these cyber challenges in the context of their normal, daily jobs," Stier said. "Consider the classic phishing incident."

"We are putting out more and more information so that the public understands the nature of the threat environment," Easterly said, Friday. "We have said consistently, that every business large and small remains at risk and is vulnerable to Russian malicious cyber activity. That's why we need to continue to keep our shields up to be prepared to be vigilant, to keep our thresholds low for sharing information about anomalous activity, and to ensure that we are working together for the collective cyber defense of the nation."

Catherine Herridge contributed to this report.

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Telecoms security and the Russia-Ukraine crisis – Capacity Media

Michaela Lodlov, consultant at Wiggin LLP, a UK-based law firm that specialises in media, technology and IP, explains that new telecoms security & cybersecurity obligations caused by the ongoing conflict may result in increased compliance costs for operators.

"Since 2019 we have witnessed, as part of our detailed monitoring of the international regulatory landscape, increasing nationalisation and tight national security restrictions in the communications regulatory and wider technology space in Russia," says Lodlov.

By May 2019, the country adopted a law on Russian Internet (Runet) that laid the foundations for isolating internet traffic in Russia from the rest of the world, as evidenced by the recent blocking of certain social networks.

"This has allowed full scope filtering of the Internet content with the Russian regulator Roskomnadzor requiring all ISPs to interconnect technically with its facilities and run all traffic destined to the World Wide Web via it," adds Lodlov.

At the same time, strict requirements were put in place for pre-installed Russian software on all devices imported and sold, including PCs, laptops and handsets. By 11th March, all servers and domains were due to be transferred to the Russian zone in readiness for of the cut off from the global Internet.

"We expect that western foreign operators will now face their licences being reworked, their assets nationalised or expropriated, and their operations effectively ceased," explains Lodlov.

"Furthermore, telecommunications operators offering global or international services to Russia (or countries that may yet fall under similar international sanctions), will face challenging situations. This is especially true as they try to comply with the constantly increasing sanctions, comprising of bans on technologies and services including entities with Russian ownership or capital (where such fact may be far from obvious)."

She adds that there is also the perennial issue of which services to take down, as one circuit to one sanctioned customer may be fairly simple but taking down a common network element can be very challenging. As such, "a lot of work will be needed to coordinate network and sanctions teams in order to ensure pragmatic decisions are made".

This will require significant work on the part of "key individuals" as well as import teams who will need to adapt to and keep up to date with the increasing restrictions on the types of equipment/ technology that can be imported into the countries.

Sanctions and networking aside, Lodlov says that the home countries of large, international organisations that provide telecoms services are also likely to tighten national security and cybersecurity requirements to protect against cybercrime.

"This includes targeted attacks on critical infrastructure in these countries, the spread of fake news and the prevalence of propaganda. Tightened cyber security rules are well under way in the Western world and will intensify," she says.

This will result in additional costs in not only reinforcing critical infrastructure but also in "ensuring the administration of content mediation, filtering and blocking services that the service providers already face. We are seeing large numbers of new rules in this regard appearing across multiple jurisdictions".

Interestingly, Lodlov points to subsea cables as an area of particular concern describing it as "essential communication pathways from the East to the West and especially between Europe and Northern America".

In light of these repercussions, its unsurprising to learn that new compliance rules and legislation are likely to come about as a result of these threats.

Firstly, Lodlov says that eome countries that were traditionally very open to the global economy, like the UK, the Netherlands or Denmark, recently introduced government scrutiny of foreign direct investment in strategic infrastructure sectors like communications networks & services, data centres or infrastructure for digital and cloud services.

"This will, in our view, gain momentum and more European countries will follow suit," she says. "We also expect that there will be further scrutiny and new rules regarding anonymous use of services and many jurisdictions which currently do not have strict rules on customer or SIM registrations will introduce these in some shape or form."

There is also scope for similar discussions in the areas of social networks, particularly regarding fake accounts, sponsored by state terrorism or aimed at incentivising hatred or harmful content.

Data sovereignty is also likely to be affected, with Lodlov having seen an increasing trend of data localisation in Russia and other countries in the region over the last two years.

"This is likely to continue, with more countries imposing strict data localisation rules not only for the communications sector but for wider personal data processing requirements," she adds.

"We expect to see more national versions of the global Internet as seen in other regions, like the Middle East or China, where a significant portion of information & content is either blocked or filtered."

For its part, she says that Russia has already introduced full-scope data sovereignty for all communications sector data and any personal data processing.

If data sovereignty is likely to become more prevalent, then countries and jurisdictions that are governed by GDPR, UK GDPR regime or similar regimes, "will impose absolute restrictions on data transfers to jurisdictions like Russia. This will increase the geopolitical isolation and economic sanctions put on the nation," Lodlov says.

The downside to this as she points out, is that data protection rules in different countries are likely to become more "incompatible" and "giving rise to new partitioning in the digital space".

What is further concerning is that this could lead to technical and other incompatibility issues regarding standards "which would break the current globalised world into nationsal or regional silos limiting the scope for big data, data economy or open data initiatives".

With a plethora of clients and partners across the TMT space, Lodlov says that the firm has already begun seeing a number of the aforementioned topics being discussed as areas of concern, indicating that many are preparing for what likely to come.

Of the ones not previously mentioned these include, greater restrictions on network service offerings requiring more filtering and blocking as well as more foreign direct investment rules.

Regulation failing to keep pace with new technologies leading to ever increasing rules on enterprise customers, which are more customer centric and the expansion of some of those rules to OTT providers but little consistency on some.

And an ever more patchwork quilt of regulation requiring hugely detailed analysis to allow any cross-border application and risk of more fines for any cross jurisdictional service offering.

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Telecoms security and the Russia-Ukraine crisis - Capacity Media

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Anonymous declared a ‘cyber war’ against Russia. Here are the results – CNBC

Though a flood of claims by hacking groups followed Russia's invasion of Ukraine, one study shows most made by Anonymous check out.

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More than three weeks ago, a popular Twitter account named "Anonymous" declared that the shadowy activist group was waging a "cyber war" against Russia.

Since then, the account which has more than 7.9 million followers, with some 500,000 gained since Russia's invasion of Ukraine has claimed responsibility for disabling prominent Russian government, news and corporate websites and leaking data from entities such as Roskomnadzor, the federal agency responsible for censoring Russian media.

But is any of that true?

It appears it is, says Jeremiah Fowler, a co-founder of the cybersecurity company Security Discovery, who worked with researchers at the web company Website Planet to attempt to verify the group's claims.

"Anonymous has proven to be a very capable group that has penetrated some high value targets, records and databases in the Russian Federation," he wrote in a report summarizing the findings.

Of 100 Russian databases that were analyzed, 92 had been compromised, said Fowler.

They belonged to retailers, Russian internet providers and intergovernmental websites, including the Commonwealth of Independent States, or CIS, an organization made up of Russia and other former Soviet nations that was created in 1991 following the fall of the Soviet Union.

Many CIS files were erased, hundreds of folders were renamed to "putin_stop_this_war" and email addresses and administrative credentials were exposed, said Fowler, who likened it to 2020's malicious "MeowBot" attacks, which "had no purpose except for a malicious script that wiped out data and renamed all the files."

Another hacked database contained more than 270,000 names and email addresses.

"We know for a fact that hackers found and probably accessed these systems," said Fowler. "We do not know if data was downloaded or what the hackers plan to do with this information."

Other databases contained security information, internal passwords and a "very large number" of secret keys, which unlock encrypted data, said Fowler.

As to whether this was the work of Anonymous, Fowler said he followed Anonymous' claims "and the timeline matches perfect," he said.

The Twitter account, named @YourAnonNews, has also claimed to have hacked into Russian state TV stations.

"I would mark that as true if I were a factchecker," said Fowler. "My partner at Security Discovery, Bob Diachenko, actually captured a state news live feed from a website and filmed the screen, so we were able to validate that they had hacked at least one live feed [with] a pro-Ukrainian message in Russian."

The English-language Russian news website RT "is for a western audience, and so what what's being shown on RT is not what's being told in Russia," said Security Discovery's Jeremiah Fowler.

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The account has also claimed to have disrupted websites of major Russian organizations and media agencies, such as the energy company Gazprom and state-sponsored news agency RT.

"Many of these agencies have admitted that they were attacked," said Fowler.

He called denial of service attacks which aim to disable websites by flooding them with traffic "super easy." Those websites, and many others, have been shuttered at various points in recent weeks, but they are also reportedly being targeted by other groups as well, including some 310,000 digital volunteers who have signed up for the "IT Army of Ukraine" Telegram account.

Fowler said he didn't find any instances where Anonymous had overstated its claims.

But that is happening with other hacktivist groups, said Lotem Finkelstein, head of threat intelligence and research at the cybersecurity company Check Point Software Technologies.

In recent weeks, a pro-Ukrainian group claimed it breached a Russian nuclear reactor, and a pro-Russian group said it shut down Anonymous' website. Check Point concluded both claims were false.

"As there is no real official Anonymous website, this attack appears to be more of a morale booster for the pro-Russian side, and a publicity event," CPR said, a fact which did not go unnoticed by Anonymous affiliates, who mocked the claim on social media.

Groups are making fake claims by posting old or publicly available information to gain popularity or glory, said Finkelstein.

Fowler said he feels Anonymous is, however, dedicated more to the "cause" than to notoriety.

"In what I saw in these databases, it was more about the messaging than saying 'hey, you know, Anonymous troop No. 21, group five, did this,'" he said. "It was more about the end result."

Hacktivists who conduct offensive cyber warfare-like activities without government authority are engaging in criminal acts, said Paul de Souza, the founder of the non-profit Cyber Security Forum Initiative.

Despite this, many social media users are cheering Anonymous' efforts on, with many posts receiving thousands of likes and messages of support.

"They're almost like a cyber Robin Hood, when it comes to causes that people really care about, that no one else can really do anything about," said Fowler. "You want action now, you want justice now, and I think groups like Anonymous and hacktivists give people that immediate satisfaction."

Many hacktivist groups have strong values, said Marianne Bailey, a cybersecurity partner at the consulting firm Guidehouse and former cybersecurity executive with the U.S. National Security Agency. Cyber activism is a low-cost way for them to influence governmental and corporate actions, she said.

"It is protesting in the 21st century," said Bailey.

Yet cheering them on can be dangerous in the "fog of war," she said.

"A cyberattack has the potential for such an immediate impact, in most cases well before any accurate attribution can be determined," she said. "A cyber strike back or even kinetic strike back could be directed to the wrong place.And what if that misattribution is intentional? What if someone makes the attack appear from a specific country when that's not true?"

She said cyber warfare can be cheaper, easier, more effective and easier to deny than traditional military warfare, and that it will only increase with time.

"With more devices connected to this global digital ecosystem the opportunity for impact continues to expand," she said. "It will undoubtedly be used more often in future conflicts."

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Internet Of Things (Iot) Security Market by Top Manufacturers with Production, Price, Revenue (value) and Market Share to 2029 The Sabre – The Sabre

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What Higher Education Institutions Need to Know About Cyber Insurance – EdTech Magazine: Focus on K-12

Colleges and universities have a great deal of valuable and private data in their systems. Personnel, academic, financial and administrative systems hold everything from research data to student medical records. It all adds up to a lot of sensitive information that requires protection.

This is where cyber insurance comes in: an insurance product that shields the school from the financial disaster that comes with data breach lawsuits, liability findings, regulatory failure fines, and huge legal costs associated with a failure to protect that information and keep it private. Read on for some facts and fallacies about cyber insurance.

DISCOVER: What one university learned after a ransomware attack.

Cyber insurance isnt designed to handle the case of someone losing a laptop or having it stolen. Cyber insurance covers the case in which the laptop loss turns into a data breach and then the university must pay for fraud monitoring for 3,000 students who had their personal financial information exposed as part of the breach.

Of course, cyber insurance isnt all the same, and every institution will have a policy customized for its own requirements. The point of cyber insurance is to cover the cases that are handled poorly by other types of insurance, such as paying for legal costs and fines related to a regulatory action that came out of a cyber incident: device loss, system break-in, the wrong email going to the wrong person, and so on. Cyber insurance policies can cover liability costs, costs to replace lost data, even loss of income.

One of the most popular coverages in cyber insurance is for ransomware attacks. This insurance is designed to reduce financial risk related to cyber extortion.

Click the banner belowfor exclusive insights about cybersecurity in higher ed.

Cyber insurance isnt like fire or theft insurance you dont just pick a dollar amount and send in a check. Because the cyber risk landscape is constantly changing and because cyber security is such a complicated area for IT teams, cyber insurance doesnt come with a one-size-fits-all rate sheet.

To make a fair price, the insurance company needs to be able to estimate the risk: the likelihood of loss and the amount of money at stake. That means the process of buying cyber insurance is going to require a lot of in-depth disclosure from your institution, along with very clear lines delineating what kind of coverage is needed and what is excluded.

FIND OUT: How to support mental health for university cybersecurity professionals.

In fact, the exact opposite is true. When you buy cyber insurance, the underwriter becomes very interested in your security profile and the attack surface you present to the world. Insurance companies may perform regular vulnerability scans permitted as part of the policy on all your internet-connected systems. If they find something they dont like, youll hear about it, first from an automated system and, if you dont do anything about it, from a human who wants to know when youre going to solve the problem thats been identified.

Your security team will be partially beholden to the standards set by the insurance company as well. What your team may have considered reasonable configurations or optimizations for usability, such as allowing old encryption algorithms, may suddenly show up on the insurance companys radar as a problem that you must solve, lest you see higher premiums or even lose insurance entirely. Cyber insurance underwriters will also want to look at your incident response plan and may insist on changes, especially in areas such as reporting and timelines.

The percentage of education IT decision-makers who falsely believe cybersecurity insurance protects them from ransomware (insurance helps cover the cost of an attack but does not stop the attack itself)

Source: Sophos, The State of Ransomware in Education 2021, July 2021

Theres a good side to all this too: Cyber insurance underwriters are interested in reducing risk, so youll gain a new partner when it comes to implementing these new security controls. Consulting services, training and automated assessments may all be part of the benefits that come with cyber insurance.

When its time to measure risk and make decisions about security investments, insurance companies have in-house experts that you can call on to help understand what types of investments have the best cybersecurity cost-benefit ratios.

EXPLORE: How to avoid security breaches within the IT department.

Insurance is all about risk transfer: A breach may or may not happen, but if it does, it will be expensive, so youll pay an insurance company to take that risk off your shoulders. This means that its the CFO who is responsible for buying insurance of all types. Insurance doesnt solve any problem other than a financial one, so the CFO is the person most interested in reducing the risk to the institution.

However, CIOs and their teams are the ones with the expertise and knowledge in this area. The CIO and CISO will be able to read policies and understand the specific terms of art used in a way that the CFO cant. The security team will be able to understand what is and isnt excluded and put it into context for the CFO. Thats a critical step, because if the important risks are not covered properly, then the insurance isnt meeting the goals of the institution or the CFO.

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