China's Banking Regulator to Step Up Protection After Cyber Attack

While banks and critical organisations have tightened their security systems following the global WannaCrypt ransomeware assault of the weekend, there is a blame game brewing in the United States of America over who was responsible.

"There is a lack of transparency in India, in spite of a mandatory requirement for banks and listed companies to disclose cyber-attack, however, very few banks and companies do that", Tushar Ajinkya, Partner, DSK Legal said. It spread to so many computers so rapidly by using an exploit - software capable of burrowing unseen into Windows computer operating systems.

NSA does not discuss its capabilities, and some computer experts say the MS17-010 exploit was developed by unknown parties using the name Equation Group (which may also be linked to NSA).

As per Microsoft, on Friday the malware bout started and it has been related by some virus software company's researchers to earlier hits by a North Korean-run hacking process, controlled the instrument constructed by the National Security Agency that leaked in April month via the Internet.

In an analysis posted today, Finnish cybersecurity firm F-Secure explains that China and Russian Federation are two of the countries most severely hit by WannaCry, and there's a reason why this happened: the big number of computers running pirated Windows.

But with Microsoft making an exception this time and providing the patch free to XP users, it may come under pressure to do the same next time it issues a critical security update.

With WanaCryptor and MS17-010 both "unleashed into the wild", F-Secure said the current problem seems to have combined and magnified the worst of the dangers those programs represent. It appears to have hit first in Britain, where it effectively shut down parts of the #National Health Service.

Because this attack targets the Microsoft Windows operating system, John Raven, President of hosting solutions provider Newtek Technology Solutions, said that scheduled maintenance must be performed to systems used by shared web hosting customers on regular intervals including Windows patch updates; antivirus updates; and updating firewall threat definitions and blocking commonly known high-threat protocols. Late in the day, Home Secretary Amber Rudd said the NHS was again "working as normal", with 97 percent of the system's components now fully restored.

None of the firms targeted indicated whether they had paid or would pay the hackers ransom.

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