HeyWhatsNew: Financial Services Companies Are the Biggest Victims of Ransomware, and Satellites Will Soon Be Used to Detect Wildfires
What’s happening, Heyuppers? Welcome back to HeyWhatsNew, your weekly dose of the latest tech news and updates. Let’s take a look at what went down in the week beginning 07/22/2024.
About 65% of Financial Services Companies Are Affected by Ransomware Attacks
According to a report by Sophos, 65% of financial services organizations were hit by ransomware in 2024, which is higher than the global average across all sectors. The median ransom demand in this sector is $2 million, and the average recovery cost is about $2.6 million, up from $2.2 million in 2023.
When it comes to recovery time, the article on SCMagazine reports that the survey found that 46% of the affected firms took a week to recover, while 25% took more than a month. The Sophos report was based on a survey of about 5,000 IT and cybersecurity leaders from 14 countries, including 592 from financial services. The results of the survey underscores the ongoing ransomware threat and the need for strong cybersecurity measures.
The U.S. Government Will Use Satellites to Detect Wildfires
This week, the presidential administration announced new measures to protect western communities from increasingly severe wildfires by using satellite technology for advanced wildfire detection.
Supported by a $20 million investment from the President’s Bipartisan Infrastructure Law, the initiative will enhance the speed and accuracy of wildfire detection through advanced remote sensing capabilities. This effort aligns with recommendations from the Wildland Fire Mitigation and Management Commission, established by the Bipartisan Infrastructure Law to improve federal wildfire policies.
Apple Maps Is Now Available on the Web
Apple has launched a public beta of Apple Maps on the web. It works in Safari and Chrome, allowing users to get directions without opening the Maps app. Like the app, the web version provides driving and walking directions, place ratings, hours, and curated Guides. Users can also order food and discover places to eat, shop, and explore.
According to the report on MacRumors, features like Look Around will be added soon. Apple Maps on the web aims to compete with Google Maps and is available at Maps.Apple.com. Developers can link to it from their apps for driving directions and location information.
iPhone 16 Launch Date Approaching, Here’s What We Know
The iPhone 16 is still one of the most highly anticipated smartphones of this year. And with September fast approaching, the launch date is nearing. Major changes like a radically different design, enhanced cameras, or a 120Hz display aren’t expected for the standard iPhone 16 or iPhone 16 Plus.
As usual, the standout upgrades will likely be in the iPhone 16 Pro and iPhone 16 Pro Max. Some sources suggest the iPhone 16 could be more expensive than its predecessor, likely due to increased manufacturing costs for Apple.
Malicious AI Like FraudGPT Are on the Rise
According to a report in the Asia Times, one of the most dangerous uses of current AI is the creation of "dark LLMs" . These uncensored versions of AI systems like ChatGPT are repurposed for criminal activities, operating without ethical limits and with high efficiency. Cybercriminals use dark LLMs like FraudGPT and WormGPT to automate phishing, create advanced malware, and generate scam content.
Despite these threats, there is hope. As challenges grow, so do our defenses. AI-based threat detection tools can better monitor and respond to cyber attacks. However, human oversight is still crucial to ensure these tools work correctly and to address any vulnerabilities.
Google Says Cookies Are Staying On Chrome
In a significant change of plans, Google is no longer eliminating cookies in its Chrome browser after four years of trying. The company first announced this in 2020, but advertisers pushed back. Google even disabled cookies for 1% of Chrome users in January as part of its delayed phase-out plan.
The decision to keep supporting third-party cookies has drawn criticism from both privacy advocates and ad industry professionals who were preparing for the change. Google is yet to release more details on its decision to continue supporting third-party cookies, its future plans for user tracking options, and its response to critics who claim this undermines privacy.
That wraps up all the tech news updates for the month of July. The next time we link up, we’ll be at the beginning of August, and we’ll have all the latest tech news updates of the week. Until then…
