Cybersecurity

Ransomware disrupts Ingram Micro’s systems and operations

Ingram Micro has confirmed a ransomware attack that affected internal systems and forced some services offline. The global IT distributor says it acted quickly to contain the incident, implemented mitigation steps, and involved cybersecurity experts.

The company is working with a third-party firm to investigate the breach and has informed law enforcement. Order processing and shipping operations have been disrupted while systems are being restored.

While details remain limited, the attack is reportedly linked to the SafePay ransomware group.

According to BleepingComputer, the gang exploited Ingram’s GlobalProtect VPN to gain access last Thursday.

In response, Ingram Micro shut down multiple platforms, including GlobalProtect VPN and its Xvantage AI platform. Employees were instructed to work remotely as a precaution during the response effort.

SafePay first appeared in late 2024 and has targeted over 220 companies. It often breaches networks using password spraying and compromised credentials, primarily through VPNs.

Ingram Micro has not disclosed what data was accessed or the size of the ransom demand.

The company apologised for the disruption and said it is working to restore systems as quickly as possible.

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Pakistan launches AI customs system to tackle tax evasion

Pakistan has launched its first AI-powered Customs Clearance and Risk Management System (RMS) to cut tax evasion, reduce corruption, and modernise port operations by automating inspections and declarations.

The initiative, part of broader digital reforms, is led by the Federal Board of Revenue (FBR) with support from the Intelligence Bureau.

By minimising human involvement in customs procedures, the system enables faster, fairer, and more transparent processing. It uses AI and automated bots to assess goods’ value and classification, improve risk profiling, and streamline green channel clearances.

Early trials showed a 92% boost in system performance and more than double the efficiency in identifying compliant cargo.

Prime Minister Shehbaz Sharif praised the collaboration between the FBR and IB, calling the initiative a key pillar of national economic reform. He urged full integration of the system into the country’s digital infrastructure and reaffirmed tax reform as a government priority.

The AI system is also expected to close loopholes in under-invoicing and misdeclaration, which have long been used to avoid duties.

Meanwhile, video analytics technology is trialled to detect factory tax fraud, with early tests showing 98% accuracy. In recent enforcement efforts, authorities recovered Rs178 billion, highlighting the potential of data-driven approaches in tackling fiscal losses.

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Samsung profits slump as US chip ban hits AI exports

Samsung Electronics expects its second-quarter operating profits to exceed half, citing Washington’s export controls on advanced AI chips to China.

The company announced a projected 56% year-on-year drop in operating profit, falling to 4.6 trillion won ($3.3 billion), with revenue down 6.5% from the previous quarter.

The semiconductor division, a core part of Samsung’s business, suffered due to reduced utilisation and inventory value adjustments.

US restrictions have made it difficult for South Korea’s largest conglomerate to ship high-end chips to China, forcing some of its production lines to run below capacity.

Despite weak performance in the foundry sector, the memory business remained relatively stable. Analysts pointed to weaker-than-expected sales of HBM chips used for AI and a drop in NAND storage prices, while a declining won-dollar exchange rate further pressured earnings.

Looking ahead, Samsung expects a modest recovery as demand for memory chips, mainly from AI-driven data centres, improves in the year’s second half.

The company is also facing political pressure from Washington, with threats of new tariffs prompting talks between Seoul and the US administration.

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SatanLock ends operation amid ransomware ecosystem turmoil

SatanLock, a ransomware group active since April 2025, has announced it is shutting down. The group quickly gained notoriety, claiming 67 victims on its now-defunct dark web leak site.

Cybersecurity firm Check Point says more than 65% of these victims had already appeared on other ransomware leak pages. However, this suggests the group may have used shared infrastructure or tried to hijack previously compromised networks.

Such tactics reflect growing disorder within the ransomware ecosystem, where victim double-posting is rising. SatanLock may have been part of a broader criminal network, as it shares ties to families like Babuk-Bjorka and GD Lockersec.

A shutdown message was posted on the gang’s Telegram channel and leak page, announcing plans to leak all stolen data. The reason for the sudden closure has not been disclosed.

Another group, Hunters International, announced its disbandment just days earlier.

Unlike SatanLock, Hunters offered free decryption keys to its victims in a parting gesture.

These back-to-back exits signal possible pressure from law enforcement, rivals, or internal collapse in the ransomware world. Analysts are watching closely to see whether this trend continues.

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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.

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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.

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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.

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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.

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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.

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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.

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