APAC accounted for 31% of cyberattacks globally in 2022: IBM Security

Asia-Pacific felt the brunt of cyberattacks in 2022: IBM

The annual X-Force Threat Intelligence Index from IBM Security found the Asia-Pacific region retained the top spot as the most attacked region in 2022 for the second consecutive year, accounting for 31% of all incidents remediated worldwide.

According to the 2023 report, last year the deployment of backdoors, which allow remote access to systems, emerged as the top action by attackers (31% of cases) followed by ransomware (13% of cases). The majority of the backdoor attempts observed globally were failed ransomware attempts, where defenders were able to detect the backdoor before the ransomware was deployed.

The uptick in backdoor deployments can be partially attributed to their high market value. X-Force observed threat actors selling existing backdoor access for as much as $10,000, compared to stolen credit card data, which can sell for less than $10 today.

“Businesses in Asia-Pacific including India will continue to face growing numbers and sophistication of cyber threats as bad actors take advantage of economic and geopolitical disruptions. Hence, it is imperative that business leaders take immediate action to prepare and secure against these malicious threats,” said Viswanath Ramaswamy, Vice President, Technology, IBM India and South Asia.

IBS Software completes acquisition of AFLS

IBS Software, the Kerala-headquartered solutions provider for the travel industry, has completed a transaction to acquire Accenture Freight and Logistics Software (AFLS).

AFLS provides technology platforms to help airline and ocean transportation companies manage their freight operations and grow through digital transformation and innovation. The acquisition will strengthen IBS Software’s leadership as a technology provider to the airfreight industry by bringing together complementary solutions and a shared vision for innovating and transforming the air cargo businesses.

The acquisition is also a strategic step in recognising IBS Software’s vision to establish itself as an end-to-end player in the global freight supply chain. AFLS has a strong heritage in ocean freight innovation with a suite of new-generation platforms that enable ocean carriers to automate critical business functions and make data-led decisions for commercial operations. Further, the transaction helps IBS Software to deploy its cargo and logistics management expertise in the ocean transportation sector.

NEC elevates India head to a global role

NEC Corporation India, a wholly-owned subsidiary of global technology company NEC Corporation, has announced the elevation of Aalok Kumar, Chairman, President and CEO, NEC Corporation India to Corporate Officer and Senior Vice President—Head of Global Smart City Business.

According to a statement, Aalok will continue to lead the India business and further strengthen India’s strategic positioning for NEC Group as a whole. He will continue to forge partnerships with the government and private sector.

Aalok will take over a new global role as Corporate Officer and Senior Vice President and Head of the Global Smart City Business. As part of NEC’s Corporate Management Team, he will be responsible for building a global business, drawing on his unique learnings from his global experience.

NEC aims to build a robust Global Smart City vertical, represented by talent from all over the world with deep technological know-how and experience. In the long run, Aalok is also expected to set up a global Smart City Centre of Excellence in India.

Finastra partners with Integro Technologies

Finastra, a provider of financial services software applications and marketplaces, has announced a partnership with Integro Technologies, a subsidiary of Aurionpro—a provider of high-end lending platforms.

The partnership will see a joint offering of their solutions with Integro’s SmartLender Trade Limits and Finastra’s Trade Innovation product. This combination will provide banks with advanced exposure risk capabilities along with frictionless trade and supply chain finance.

“With SmartLender Trade Limits and Trade Innovation in a single offering, not only will banks be able to reap the benefits of end-to-end digitalisation, but they will also gain the ability to manage exposure risk throughout the trade finance process,” Iain MacLennan, Vice President, Trade and Supply Chain Finance, Finastra said.