Cybersecurity

Experts gather in Malta to address digital risks in insurance

Malta is leading in the insurance sector’s response to digital transformation and emerging global risks.

At the centre of this push was a high-level forum, Innovating Insurance: Malta’s Digital Shift and Emerging Risks, hosted by FinanceMalta and the University of Malta’s Department of Insurance and Risk Management.

The event gathered regulators, professionals, academics, and students from across Europe and beyond to examine the future of insurance.

Two panel sessions addressed how technological innovations are reshaping the insurance landscape, focusing on the role of AI, cyber threats, and climate-related risks.

Speakers praised AI’s ability to enhance fairness and transparency by processing large data sets, warning of the need to retain human oversight for accountability.

Cyber insurance was highlighted as a fast-growing necessity, though panellists underlined it should complement—not replace—strong internal risk management and resilience strategies.

Regulatory authorities welcomed a growing cultural shift towards more proactive risk governance, encouraging businesses to match their investment in digital tools with equal commitment to cybersecurity.

Discussions also explored new digital models’ legal and regulatory consequences, reaffirming Malta’s role as a serious contributor to global insurance dialogue.

The event formed part of an international course on insurance regulation, underlining Malta’s strong academic–industry–regulator collaboration.

Organisers and speakers expressed confidence that Malta, despite its size, is playing a meaningful part in shaping a resilient and future-oriented insurance ecosystem.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!

Scammers shift focus to businesses amid surge in attacks

Businesses increasingly fall prey to scams, with more than 74,000 attacks reported to the FBI between 2023 and 2024. The Better Business Bureau (BBB) warns that companies face significant threats from data breaches, impersonation, and fake services.

In the US, losses from data breaches alone averaged $4.9 million per company in 2024, up to $1.4 billion. Scammers use familiar tactics, such as posing as trusted individuals and making urgent demands for payment or sensitive data.

Smaller businesses are especially at risk, often lacking dedicated IT support or robust security teams. Juggling multiple responsibilities makes them easier targets for sophisticated scam operations.

The BBB advises businesses to train staff to recognise suspicious behaviour and to enforce secure payment processes. Strengthening cybersecurity with tools like firewalls and multi-factor authentication can also reduce the attack risk.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!

Survey reveals sharp rise in cyberattacks on Japan’s small businesses

A May 2025 survey by Teikoku Databank reveals that nearly one in three Japanese companies have experienced a cyberattack. The survey targeted over 26,000 businesses and received 10,645 valid responses.

Among respondents, 32% reported having been targeted by cyberattacks. Large firms in Japan were more likely to be affected at 41.9%, compared to 30.3% for small and medium-sized businesses and just 28.1% for small firms.

Interestingly, while larger firms showed a higher lifetime rate, cyber incidents over the past month were more common among smaller enterprises. Around 6.9% of SMEs and 7.9% of small firms were affected, compared to the overall rate of 6.7%.

Teikoku Databank warned of a sharp increase in risk for small businesses, which often lack the robust cybersecurity infrastructure of larger corporations.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!

Inside Visa’s war room: How AI battles $15 trillion in threats

In Virginia’s Data Centre Alley, Visa operates a high-security fraud command centre to protect $15 trillion in annual transactions — nearly 15% of the global economy. With cybercrime growing more sophisticated, the company has spent $12 billion in five years to bolster its AI-powered defences.

‘From lone hackers to criminal syndicates generating hundreds of millions, fraud today is highly structured,’ said Michael Jabbara, Visa’s global head of fraud solutions. Some groups now operate like corporations, with risk managers and customer support.

Much of today’s fraud preys on emotions. Scammers trick people into making payments by posing as romantic interests or sellers. Victims are often lured into schemes run by trafficked workers in scam centres in Myanmar.

Once card details are stolen, criminals test them across websites using recurring micro-charges. These fly under the radar for months, draining money slowly but steadily. Some operations mimic tech firms, offering fraud-as-a-service tools on the dark web.

‘You can buy a full toolkit — the software, instructions, bot access and even a mule network,’ Jabbara said. Brute-force payment attacks are now industrial in scale, enabled by the same cloud infrastructure that powers startups.

Visa’s defence includes round-the-clock global monitoring centres in Virginia, London and Singapore. Inside its Cyber Fusion Centre, teams handle millions of threats daily, mostly stopped automatically. But it’s an arms race — one that never sleeps.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!

Ukraine strengthens cybersecurity ties with EU

Ukraine participated for the first time in the EU National Cybersecurity Coordination Centers meeting and the European Cybersecurity Competence Centre (ECCC) Steering Board in Rome.

The event, supported by Italy’s National Agency for Cybersecurity, focused on enhancing cooperation among EU member states and fostering a unified cyber community.

Natalia Tkachuk, Secretary of Ukraine’s National Coordination Center for Cybersecurity, highlighted the nation’s challenges and experiences in countering cyber threats amidst ongoing conflict.

She emphasized Ukraine’s role in both receiving and sharing cybersecurity knowledge to strengthen collective European security.

Discussions included the establishment of a joint Center of Competence for Cyber Resilience in Ukraine, aiming to counter Russian cyberattacks, disinformation, and sabotage.

The center will utilize artificial intelligence trained on unique Ukrainian data to enhance response capabilities.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!

WSIS+20 panel urges smarter digital governance

At the WSIS+20 High-Level Event 2025 in Geneva, global leaders and experts gathered to reflect on the two-decade legacy of the World Summit on the Information Society (WSIS) and chart a course for the future of digital cooperation. Moderated by Anriette Esterhuysen of the Association for Progressive Communications, the panel underscored how the WSIS process helped connect over 5.6 billion people to the internet and solidified the importance of multistakeholder governance.

Speakers lauded successes in infrastructure and inclusion but were clear-eyed about persistent gaps, especially the 2.5 billion people who still lack connectivity.

Thailand’s Minister of Digital Economy, Prasert Jantararuangtong, showcased national broadband access and cybersecurity achievements through initiatives like the Anti-Online Scam Operation Centre. Meanwhile, Ambassador Janis Karklins of Latvia, a central figure in WSIS’s 2005 Tunis phase, warned of growing digital fragmentation.

He expressed concern over the drift from WSIS’s original vision of a global information society toward digital sovereignty, urging participants to stay true to a collaborative global model.

Experts emphasised the need for future frameworks to evolve without duplicating efforts. Professor Kathleen Kramer of the Institute of Electrical and Electronics Engineers highlighted the urgency of strong STEM education and technical standards to scale emerging technologies like AI and quantum computing responsibly.

Pierre Bonis of AFNIC and Maria Fernanda Garza of the International Chamber of Commerce both called for pragmatic integration of the WSIS legacy with the upcoming Global Digital Compact, stressing stability, innovation, and the inclusion of pressing challenges such as climate change.

The session closed with a renewed commitment to WSIS’s people-centred, inclusive values, even as the digital landscape becomes increasingly complex. With reflections on past achievements and a unified call for non-duplicative, collaborative governance, panellists offered a hopeful yet pragmatic vision for the next chapter of global digital development.

Track all key events from the WSIS+20 High-Level Event 2025 on our dedicated page.

Global instability fuels surge in cyberattacks

A surge in cyberattacks is fuelled by global instability, with businesses worldwide now facing heightened risks. A new report by GlobalData warns that rising geopolitical tensions are giving state actors, terrorists, hacktivists and cybercriminals more opportunities to strike.

Conflicts in Ukraine and the Middle East have created a volatile digital landscape. Cyberattackers are exploiting weakened defences, targeting both national infrastructure and private enterprises.

‘Those not after money are often motivated by revenge,’ the report states. The key perpetrators are disgruntled employees, unhappy customers, and ideologically driven hackers. While some attackers aim to cause reputational harm or attract attention, others seek to turn off critical systems.

Nation states, in particular, use cyberwarfare as a strategic tool against rival governments. Businesses are warned to prepare for disruption as cyber threats become more frequent and sophisticated. The report concludes that no organisation is immune in today’s digital and geopolitical uncertainty climate.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!

Regions seek role in EU hospital cyber strategy

The European Commission’s latest plan to strengthen hospital cybersecurity has drawn attention from regional authorities across the EU, who say they were excluded from key decisions.

Their absence, they argue, could weaken the strategy’s overall effectiveness.

With cyberattacks on healthcare systems growing, regional representatives insist they should have a seat at the table.

As those directly managing hospitals and public health, they warn that top-down decisions may overlook urgent local challenges and lead to poorly matched policies.

The Commission’s plan includes creating a dedicated health cybersecurity centre under the EU Agency for Cybersecurity (ENISA) and setting up an EU-wide threat alert system.

Yet doubts remain over how these goals will be met without extra funding or clear guidance on regional involvement.

The concerns point to the need for a more collaborative approach that values regional knowledge.

Without it, the EU risks designing cybersecurity protections that fail to reflect the realities inside Europe’s hospitals.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!

Secret Service step up crypto enforcement with major recoveries

Authorities in the United States have confiscated close to $400 million in digital currencies tied to criminal investigations over the last ten years. The bulk of these assets is secured in a government-controlled cold wallet.

A significant portion, worth $225 million, was recovered in June through a joint operation involving the FBI and legal offices. The effort reflects growing proficiency in tracking crypto-linked criminal activity across blockchain networks.

Secret Service has delivered cryptocurrency crime training in more than 60 countries to support global cooperation. These educational efforts are part of a broader strategy to strengthen international capabilities against financial fraud and cybercrime.

The agency also collaborates with private companies to improve its crypto crime efforts. Coinbase has assisted in tracing transactions, while Tether recently granted freezing access to the Secret Service and FBI.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot! 

FBI issues warning as airline cyberattacks rise, posing national security threat

Less than a year after the cyberattack that shut down Sea-Tac Airport, the FBI has issued a stark new warning: America’s airlines are now targets. The agency confirmed that the cybercrime gang Scattered Spider is actively attacking aviation systems.

This group, known for crippling MGM Resorts, uses social engineering to bypass security. By posing as airline staff, they access systems, steal data and deploy ransomware within hours of a breach.

WestJet, Hawaiian Airlines and Qantas have all been hit in the last two months alone. Qantas reported a data breach affecting more than six million passengers.

Today’s airlines depend on interconnected digital infrastructure. Disruption to crew scheduling, flight planning or maintenance can trigger chaos across entire networks.

The FBI says these attacks are shifting from isolated incidents to coordinated campaigns. Experts fear that state and non-state actors are watching closely, ready to exploit aviation vulnerabilities.

Aircraft are now flying data centres. Their connectivity brings both efficiency and risk. Flight safety could be at stake if attackers compromise weather feeds or ground systems.

Sea-Tac was a warning. What happens when multiple airports are targeted at once? Fictional scenarios are edging closer to reality.

Previous attacks — from Warsaw to London — exposed system weaknesses. The threat has only grown. It is no longer a question of if, but when.

The industry must act decisively. Stronger identity checks, hardened systems, and real-time intelligence sharing are no longer optional. Cybersecurity must become as essential as flight safety.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!