British businesses have lost an estimated £44 billion ($55 billion) in revenue over the past five years due to cyberattacks, with more than half of private sector companies experiencing at least one incident, according to a report by insurance broker Howden. Companies earning over £100 million annually faced the highest risk, with cyberattacks cutting 1.9% of revenue on average.
The report identified compromised emails (20%) and data theft (18%) as the leading causes of cyber incidents. Despite these risks, only 61% of businesses used anti-virus software, and just 55% had network firewalls, with cost and limited IT resources cited as major obstacles to better cybersecurity.
“Cybercrime is rising as businesses rely more on technology, exposing vulnerabilities to malicious actors,” said Sarah Neild, head of UK cyber retail at Howden. The findings are based on a September survey of 905 UK private-sector IT leaders conducted by YouGov.
French IT giant Atos has entered discussions with the government for a potential €500 million ($524 million) acquisition of its advanced computing division. Known for its crucial role in securing communications for the French military and manufacturing supercomputer servers, Atos is restructuring to address its mounting debt. The government has prioritised retaining control over the company’s strategic technology assets to safeguard national interests.
The proposed deal includes an initial payment of €150 million upon signing, expected before the exclusivity period ends on May 31. The offer could rise to €625 million with performance-based earn-outs. French Finance Minister Antoine Armand emphasised the state’s duty to ensure the survival and development of industries critical to national sovereignty. Atos’ advanced computing and cybersecurity unit, employing 4,000 people and generating €900 million annually, is seen as a vital asset.
As part of its restructuring, Atos announced plans to sell its cybersecurity unit’s Critical Systems and Cyber Products. With this deal factored in, the company forecasts its financial leverage for 2027 to be between 1.8 and 2.1 times core earnings. Meanwhile, France‘s parliament is considering an amendment that could pave the way for Atos’ nationalisation, underscoring the government’s commitment to protecting key technologies.
The Federal Communications Commission (FCC) has proposed a $735,000 fine against Chinese video doorbell manufacturer Eken over security issues and false information. Investigations revealed the devices exposed sensitive data, including users’ home IP addresses and WiFi details, while enabling unauthorised access to photos and videos through simple proximity-based actions.
The FCC also flagged that Eken’s registered US agent address was invalid, sparking broader scrutiny. The devices, sold on platforms such as Amazon and Walmart, prompted additional concerns earlier this year when Senator Marco Rubio criticised their lack of adequate security protections. He highlighted the risk of hackers accessing private images and videos from homes.
Eken’s case forms part of wider US efforts to address security risks from Chinese-made technology. FCC Chair Jessica Rosenworcel announced an audit of certifications tied to similar agents, warning about the potential for misuse ranging from domestic abuse risks to state-backed surveillance. Retailers were previously urged to stop selling such insecure Internet of Things (IoT) devices.
The issue comes as US agencies increase scrutiny on Chinese tech firms. A ban on new equipment authorisations for listed Chinese telecom and surveillance firms is already in place, while the Commerce Department has proposed measures to limit Chinese-made vehicle software.
US authorities have revealed a massive cyberattack on American telecommunications networks, describing it as the ‘worst telecom hack in our nation’s history.’ Linked to Chinese hackers, the breach targeted multiple telecom companies and allowed the interception of surveillance data meant for US law enforcement. According to a joint FBI and CISA statement, the hackers accessed sensitive call records and communications, particularly involving individuals in government and political roles.
The attack also raised alarms after reports suggested telephones belonging to Donald Trump, JD Vance, and other high-profile political figures were compromised. Senator Mark Warner, chairman of the Senate Intelligence Committee, warned that China’s long-term efforts to infiltrate global telecom systems pose a grave security risk. Hackers reportedly managed to listen to phone calls and read text messages, going beyond what the Biden administration has publicly acknowledged.
China has consistently denied allegations of hacking foreign systems, and its embassy in Washington declined to comment on the latest claims. Warner criticised the lack of sufficient safeguards, stating, “The barn door is still wide open,” as concerns over US telecom infrastructure security intensify.
Elon Musk has spoken out against Australia’s proposed law to ban social media use for children under 16, calling it a “backdoor way to control access to the Internet by all Australians.” The legislation, introduced by Australia’s centre-left government, includes fines of up to A$49.5 million ($32 million) for systemic breaches by platforms and aims to enforce an age-verification system.
Australia’s plan is among the world’s strictest, banning underage access without exceptions for parental consent or existing accounts. By contrast, countries like France and the US allow limited access for minors with parental approval or data protections for children. Critics argue Australia’s proposal could set a precedent for tougher global controls.
Musk, who has previously clashed with Prime Minister Anthony Albanese’s government, is a vocal advocate for free speech. His platform, X, has faced tensions with Australia, including a legal challenge to content regulation orders earlier this year. Albanese has called Musk an “arrogant billionaire,” underscoring their rocky relationship.
Snap Inc., the parent company of Snapchat, has filed a motion to dismiss a New Mexico lawsuit accusing it of enabling child sexual exploitation on its platform. The lawsuit, brought by Attorney General Raul Torrez in September, claims Snapchat exposed minors to abuse and failed to warn parents about sextortion risks. Snap refuted the allegations, calling them ‘patently false,’ and argued that the state’s decoy investigation misrepresented key facts.
The lawsuit stems from a broader push by US lawmakers to hold tech firms accountable for harm to minors. Investigators claimed a decoy account for a 14-year-old girl received explicit friend suggestions despite no user activity. Snap countered that the account actively sent friend requests, disputing the state’s findings.
Snap further argued that the lawsuit violates Section 230 of the 1996 Communications Decency Act, which shields platforms from liability for user-generated content. It also invoked the First Amendment, stating the company cannot be forced to provide warnings about subjective risks without clear guidelines.
Defending its safety efforts, Snap highlighted its increased investment in trust and safety teams and collaboration with law enforcement. The company said it remains committed to protecting users while contesting what it views as an unjustified legal challenge.
A significant step in financial regulation will see major tech companies processing over 13 billion transactions annually subject to closer oversight. The US Consumer Financial Protection Bureau (CFPB) has finalised a rule bringing digital wallets and payment apps under the same scrutiny as banks. The move aims to enhance consumer privacy protections, combat fraud, and ensure fair account management.
The rule, targeting services like Apple Wallet, Google Pay, and Venmo, signals a shift in recognising digital payments as essential consumer tools. CFPB Director Rohit Chopra emphasised the need for oversight that reflects the growing reliance on these services. The measure, first proposed a year ago, has undergone substantial revisions to refine its scope and application.
Only companies processing over 50 million transactions annually will fall under the rule, a change from the initially proposed threshold of 5 million. Moreover, the regulation focuses solely on transactions in US dollars, excluding digital assets from its purview. Critics, including the Financial Technology Association, argue that the rule lacks a clear justification, though some in the banking industry support its introduction.
Set to take effect 30 days after its publication in the Federal Register, the rule has sparked debate over its future under a changing regulatory landscape. With the growing role of digital payments in daily life, the rule marks a pivotal moment for the industry and consumer protections alike.
The Irish Data Protection Commission (DPC) is awaiting guidance from the European Data Protection Board (EDPB) on handling AI-related privacy issues under the EU’s General Data Protection Regulation (GDPR). Data protection commissioners Des Hogan and Dale Sunderland emphasised the need for clarity, particularly on whether personal data continues to exist within AI training models. The EDPB is expected to provide its opinion before the end of the year, helping harmonise regulatory approaches across Europe.
The DPC has been at the forefront of addressing AI and privacy concerns, especially as companies like Meta, Google, and X (formerly Twitter) use EU users’ data to train large language models. As part of this growing responsibility, the Irish authority is also preparing for a potential role in overseeing national compliance with the EU’s upcoming AI Act, following the country’s November elections.
The regulatory landscape has faced pushback from Big Tech companies, with some arguing that stringent regulations could hinder innovation. Despite this, Hogan and Sunderland stressed the DPC’s commitment to enforcing GDPR compliance, citing recent legal actions, including a €310 million fine on LinkedIn for data misuse. With two more significant decisions expected by the end of the year, the DPC remains a key player in shaping data privacy in the age of AI.
The Philippines’ Department of Social Welfare and Development (DSWD) and the UN Development Programme (UNDP) have formalised a strategic partnership to enhance social protection and poverty reduction efforts in the Philippines. Through a Memorandum of Understanding (MOU) signed on 15 November at the DSWD Central Office in Quezon City, the collaboration focuses on advancing digitalisation, improving monitoring and evaluation systems, and fostering data governance within the DSWD.
As a result, the partnership aims to strengthen digital infrastructure, enhance evidence-based decision-making, and expand social protection services for the country’s poor and vulnerable communities. Additionally, the collaboration will leverage digital tools and robust evaluation practices to ensure that social programs are effective and adaptable to evolving societal needs.
Furthermore, the MOU outlines initiatives to support multistakeholder collaborations, promote continuous learning among government agencies, and improve the DSWD’s capacity to deliver responsive and effective social protection programs. In conclusion, this partnership represents a pivotal step toward institutional development and underscores the commitment of both organisations to building a stronger framework for social development programs and services in the Philippines.
Australia’s government introduced a bill to parliament aiming to ban social media use for children under 16, with potential fines of up to A$49.5 million ($32 million) for platforms that fail to comply. The law would enforce age verification, possibly using biometrics or government IDs, setting the highest global age limit for social media use without exemptions for parental consent or existing accounts.
Prime Minister Anthony Albanese described the reforms as a response to the physical and mental health risks social media poses, particularly for young users. Harmful content, such as body image issues targeting girls and misogynistic content aimed at boys, has fueled the government’s push for strict measures. Messaging services, gaming, and educational platforms like Google Classroom and Headspace would remain accessible under the proposal.
While opposition parties support the bill, independents and the Greens are calling for more details. Communications Minister Michelle Rowland emphasised that the law places responsibility on platforms, not parents or children, to implement robust age-verification systems. Privacy safeguards, including mandatory destruction of collected data, are also part of the proposed legislation. Australia’s policy would be among the world’s strictest, surpassing similar efforts in France and the US.
