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CBC: The number of "high impact" cyber incidents reported by Canada's banks nearly tripled last year, according to the industry's watchdog. The increase comes as a federal bill meant to protect Canada's critical systems — including financial systems — has been sitting idle in parliamentary limbo for months.
Yahoo Finance: Just two years ago, VC funding to cybersecurity startups was on fire. Indeed, $23 billion flooded the sector, per Crunchbase. But in 2023, cybersecurity upstarts only saw a third of that -- the result of the exceptional surge in 2021, bloated valuations and investors wary of market instability.
US News: Fortinet reported fourth-quarter profit above analysts' estimates, as enterprises spent more to safeguard their digitized operations against the rising risk of attacks, sending the cybersecurity company's shares up 10.4% in extended trading.
Nasdaq: ZeroFox Holdings, Inc., a provider of external cybersecurity, said it has agreed to be acquired by Haveli Investments, a technology-focused private equity firm, in an all-cash transaction with an enterprise value of about $350 million.
US News: Countries led by Britain, France and the United States and tech firms including Google, Microsoft and Meta signed a joint statement recognising the need for more action to tackle malicious use of cyber spying tools.
Dark Reading: Deepfake creation software is proliferating on the Dark Web, enabling scammers to carry out artificial intelligence (AI)-assisted financial fraud with previously unheard of creativity and scope.
BNN Bloomberg: A US operation disrupted a Chinese state-sponsored hacking effort in which spies hijacked a large network of devices to target water facilities and the power grid, among other targets, officials from the Federal Bureau of Investigation and the Department of Justice said.
SecurityWeek: The sanctioned individuals are both Egyptian nationals. One of them is Mu’min Al-Mawji Mahmud Salim, the creator of a platform named Electronic Horizons Foundation (EHF), which provides cybersecurity training and guidance to ISIS supporters.
Dark Reading: In a new filing with the US Southern District Court of New York, SolarWinds argued that the Securities and Exchange Commission was outside of its depth of expertise as well as its scope of authority in charging SolarWinds and its chief information security officer with mishandling the now-infamous, 2020, Russian-backed cyber espionage attack on its Orion platform.
CSO Online: It is as if a light went on within the Canadian government this month as it took steps to tighten control over the risk presented by China, Russia, and Iran to sensitive research being funded by the federal government.
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