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<ul class="summary-list"><li>Ransomware attacks cost local governments and public colleges the most money, a new study found.</li><li>Lower education and central and federal governments reported an average of $6.6 million in payouts.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/infamous-hacker-gang-pharmacy-prescription-backlogs-2024-2">Ransomware attacks</a> are getting expensive. And it's local governments and public colleges that are handing over the most cash.Sophos, a UK-based software security company, released its annual <a target="_blank" class="" href="https://www.sophos.com/en-us/content/state-of-ransomware">ransomware report</a> this week. It details a steep increase in payouts for ransomware attacks in recent years.Ransomware attacks typically come from <a target="_blank" class="" href="https://www.businessinsider.com/ransomware-attacks-corporations-children-executives-mandiant-google-cyber-security-2024-5">criminals who hack into companies to steal data</a>, which they hold <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/ransomware-payments-increase-500-in-the-last-year-finds-sophos-state-of-ransomware-report-1033305236">until the victim agrees to pay a fee</a>. The attacks leave the victims unable to access the stolen data, which can cripple the institution until the ransom is paid.Almost 60% of respondents told Sophos that ransomware attackers had targeted their organization this year. That's a slight decrease from 66% for the same period in 2023. But the companies that do fall victim to ransomware attacks are paying out more money than ever, the study found.More than 1,000 of the surveyed organizations said they paid the ransom after hackers compromised their data.IT and telecom companies reported the lowest median ransom payment at $300,000, while lower education and government agencies posted the highest with a median of $6.6 million.Professional business and financial services were the most likely to successfully reduce ransom demands through negotiation. Higher education institutions, on the other hand, were the most likely to pay more than the original demand."It may be that these industries are less able to access professional ransom negotiators to help reduce their costs," the study's authors said. "They may also have a greater need to recover the data 'at any cost' due to their public remit."Researchers say advancements in <a target="_blank" href="https://www.businessinsider.com/ai-phishing-scams-automation-detection-2024-6">AI will likely increase the scale of ransomware attacks</a>. In April, researchers from the Institute for Security and Technology told the House Financial Services subcommittee that they have "tremendous concern" about the role AI could play in future attacks, <a target="_blank" class="" href="https://thehill.com/homenews/house/4599587-ai-ransomware-easier-committee/">according to The Hill</a>.Typically, ransomware groups target large companies with revenue greater than $5 billion, but smaller organizations are starting to become more likely targets, according to the study. In the last year, organizations with less than $10 million in revenue made up about 47% of those hit by ransomware attacks, Sophos found."While many ransomware attacks are executed by sophisticated, well-funded gangs, the use of crude, cheap ransomware by lower-skilled threat actors is on the rise," Sophos says.

The price of ransomware attacks is skyrocketing and government agencies are paying the most

<keyword id="19955648" type="General" weightage="20" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="261" meta.entityid="Adani Group">Adani group</keyword> plans to invest about Rs 1.3 lakh crore across its portfolio companies in this financial year, as it doubles down on its $100 billion investment guidance over the next 7-10 years to grow businesses, the group's CFO said. The investment will range from ports to energy, airports, commodities, cement and media. 70% of this will met through internal cash generation and the remaining will be taken care through debt, group CFO Jugeshinder 'Robbie' Singh noted. The group will look to refinance $3-4 billion of debt maturing in the year and raise an additional $1 billion in project financing, he said, adding the annual $2-2.5 billion of equity infusion by bringing in new investors is also likely to continue. "This year will be more about asset completion," the CFO continued. <keyword id="34553" type="General" weightage="20" keywordseo="Renewable-energy" source="Orion">Renewable energy</keyword> firm <keyword id="19898586" type="General" weightage="20" keywordseo="Adani" source="keywords">Adani</keyword> Green will complete 6-7 GW project, while the solar wafer manufacturing unit will also attain scale. Also, the new airport at Mumbai will be completed. The projected capital expenditure or capex for 2024-25 (April 2024 to March 2025) fiscal is 40% higher than what the portfolio is estimated to have incurred in FY24. The group had previously guided a $100 billion capex over the next 7-10 years. Most of this investment is going to go into the group's fast growing businesses -- renewable energy, <keyword id="8411893" type="General" weightage="20" keywordseo="green-hydrogen" source="Orion">green hydrogen</keyword> and airports and infrastructure. As much as 70% of the planned capex will go into its green portfolio - primarily <keyword id="19904987" type="General" weightage="20" keywordseo="renewable-power" source="keywords">renewable power</keyword>, green hydrogen, green evacuation. Of the remaining 30%, the majority will be spent towards airports and ports businesses. Adani group companies posted a record 45% rise in pre-tax profit (Ebitda) to Rs 82,917 crore (about $10 billion) in FY24, Singh said. Emerging from a damning report of a US short seller <keyword id="191733" type="General" weightage="20" keywordseo="Hindenburg" source="Orion">Hindenburg</keyword>, which hit the market value of its listed companies, Adani group in 2023-24 focused on containing debt, reducing founder share pledge and consolidating the business in core competencies. The five-year CAGR (compound annual growth rate) for profit growth was 54% A school drop-out, group chairman <keyword id="19929098" type="General" weightage="100" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword> started out as a commodities trader and rose to be counted amongst world's richest with an empire spanning across ports, power generation, airports, mining, renewables, gas, data centres, media and cement. Today, Adani group is the world's second largest solar power company, it is the largest airport operator with 25% of passenger traffic and 40% of air cargo, the largest ports and logistics company with 30% market share, largest integrated energy player, and the country's second largest cement manufacturer. With strong emphasis on <keyword id="19895435" type="General" weightage="20" keywordseo="green-energy" source="keywords">green energy</keyword> transition, it will be allocating more than 70% of this $100 billion to its green businesses including renewable power, green hydrogen, and green evacuation transmission lines. The conglomerate is building the world's largest renewable park at Khavda, Gujarat, spanning over 530 square kilometers, which is about five times the size of the city of Paris. A large portion of total investments is earmarked for expansion and development of its fast-growing airports business and ports business. With a portfolio boasting eight airports including the upcoming <keyword id="57321" type="General" weightage="20" keywordseo="navi-mumbai" source="Orion">Navi Mumbai</keyword> airport and 14 domestic ports, Adani wants to further solidify its presence in these sectors.

Adani to invest Rs 1.3 lakh crore in FY25 across its companies

Dear reader, As another week draws to a close, the financial world is abuzz with excitement, with markets hitting all-time highs and raising questions for investors on how to best navigate this promising terrain. We explored some strategies for <keyword id="20223034" type="General" weightage="20" keywordseo="mutual-fund" source="keywords">mutual fund</keyword> investors looking to capitalise on India’s robust growth, despite some experts warning of overvalued conditions. But it was not all about numbers; the <keyword id="20665553" type="General" weightage="20" keywordseo="remote-work" source="keywords">remote work</keyword> debate also heat up again this week. A former <keyword id="19904608" type="General" weightage="100" keywordseo="Amazon" source="keywords" meta.keywordsubtype="org" meta.entityname="Amazon" meta.hostid="261" meta.entityid="Amazon">Amazon</keyword> employee had even spilled the beans on creative tactics used by workers to skirt the company's recent office mandate. Meanwhile, in a tech-savvy twist, Bengaluru's traffic police have deployed AI-powered cameras to ensure that rule-breakers aren't slipping through the cracks, whether or not an officer is present. This innovative move raises the stakes for those who might think twice about cutting a red light or using their phones while driving. In a more personal journey, a 41-year-old bank worker reveals how simple dietary changes and a straightforward workout technique transformed his physique, proving that it’s never too late to make positive lifestyle changes. And for music lovers, the excitement surrounding <keyword id="20399945" type="General" weightage="20" keywordseo="Coldplay" source="keywords" meta.keywordsubtype="org" meta.entityname="Coldplay" meta.hostid="261" meta.entityid="Coldplay">Coldplay</keyword>'s upcoming performance in India is palpable! However, with scalpers jacking up prices to exorbitant levels, we highlight how it may actually be cheaper to catch the band live in Abu Dhabi instead of facing the steep markups in Mumbai. Join us as we unpack these intriguing stories and more, ensuring you stay ahead of the curve in today's rapidly changing landscape. <h2>Top stories from the week</h2> With markets hitting all-time highs, how should you position yourself as a mutual fund investor? Despite experts currently pegging the market to be in over-brought category, with elevated valuations, India will continue to be amongst the world's fastest growing economies in the medium term. Per <keyword id="23344116" type="General" weightage="20" keywordseo="goldman-sach" source="keywords">Goldman Sach</keyword>'s India strategy, companies operating in the auto, chemicals, real estate, FMCG and other consumer durables may observe a large surge in their profits, with consumer durables registering the highest growth in this cycle. So, how can investors make the most of this uptrend? We decode that for you. <a href="https://www.businessinsider.in/stock-market/article/with-markets-hitting-all-time-highs-how-should-you-position-yourself-as-an-mutual-fund-investor/articleshow/113662022.cms?upcache=2&amp;utm_source=BI_newsletter&amp;utm_medium=newsletter&amp;utm_campaign=weekly_digest&amp;ncode=eac724db06a1b423589790353cd35d8482c05a95522ed6abfc285ccd372de143c1b9eb738a682068e6154cea1ecc535b90f24d3e6a144cc072a4cef9bdd7e86aa61f0a704e77dfb4465e87c057ec6b95&amp;nl_id=6638a138c5fe91bbf47baa33" data-type="tilCustomLink" target="_blank">Read more</a> Rename home Wi-Fi, leave badge at office: <keyword id="23344115" type="General" weightage="20" keywordseo="ex-amazon" source="keywords">Ex-Amazon</keyword> employee reveals tricks used by employees to not work from office Amazon's recent decision to end remote work and require employees to return to the officesparked controversy. A former AWS engineer shared tactics employees used to dodge the mandate, including badging in briefly, renaming home Wi-Fi networks, and using colleagues to clock in. These tricks highlight ongoing debates about remote work's future. <a href="https://www.businessinsider.in/tech/news/rename-home-wifi-leave-badge-at-office-ex-amazon-employee-reveals-tricks-used-by-employees-to-not-work-from-office/articleshow/113619411.cms?upcache=2&amp;utm_source=BI_newsletter&amp;utm_medium=newsletter&amp;utm_campaign=weekly_digest&amp;ncode=eac724db06a1b423589790353cd35d8482c05a95522ed6abfc285ccd372de143c1b9eb738a682068e6154cea1ecc535b90f24d3e6a144cc072a4cef9bdd7e86aa61f0a704e77dfb4465e87c057ec6b95&amp;nl_id=6638a138c5fe91bbf47baa33" data-type="tilCustomLink" target="_blank">Read more</a> Hopping signals or using phones when cops aren’t there? You’re still going to get instant-fined, thanks to Bengaluru’s new AI cameras If you've ever found yourself sheepishly glancing around after cutting a red light or using your phone while driving, only to relax because "no cops in sight," think again! In Bengaluru, the traffic police have gone tech-savvy, and they're now leveraging AI to keep an eye on you – whether or not there’s an officer standing by. <a href="https://www.businessinsider.in/tech/news/hopping-signals-or-using-phones-when-cops-arent-there-youre-still-going-to-get-instant-fined-thanks-to-bengalurus-new-ai-cameras/articleshow/113733172.cms" data-type="tilCustomLink" target="_blank">Read more</a> A 41-year-old transformed his body with 2 diet changes and 1 simple workout technique A bank worker in his 40s got more defined muscle with simple tweaks to his routine. He burned fat by paying attention to portion sizes and setting a daily protein goal. <a href="https://www.businessinsider.in/science/health/news/a-41-year-old-transformed-his-body-with-2-diet-changes-and-1-simple-workout-technique/articleshow/113532951.cms" data-type="tilCustomLink" target="_blank">Read more</a> It is cheaper to watch Coldplay perform in Abu Dhabi than to pay scalpers for Mumbai tickets Grammy-winning pop band Coldplay is all set to perform in India in January 2025 and the tickets went on sale recently. While excited fans rushed to book the tickets, most fans unfortunately couldn’t get their hands on them despite the band adding an extra show due to overwhelming demand. Not all tickets were booked by fans as a lot of tickets showed up on re-selling platforms and social media, with scalpers charging a bomb for these tickets. With tickets costing as much as ₹3.65 lakh on re-selling platforms such as Viagogo, there’s another option for Coldplay fans to see their favourite band perform without burning a hole in their pocket. <a href="https://www.businessinsider.in/entertainment/news/it-is-cheaper-to-watch-coldplay-perform-in-abu-dhabi-than-to-pay-scalpers-for-mumbai-tickets/articleshow/113665893.cms" data-type="tilCustomLink" target="_blank">Read more</a> <h2>Top Web stories </h2> <a href="https://www.businessinsider.in/science/health/food/webstories/saffron-to-caviar-9-of-the-worlds-most-expensive-food-items/slidelist/113671583.cms" data-type="tilCustomLink" target="_blank">Saffron to Caviar: 9 of the world's most expensive food items</a> <a href="https://www.businessinsider.in/thelife/webstories/work-smart-stay-sane-9-tips-to-combat-stress-and-burnout/slidelist/113671839.cms" data-type="tilCustomLink" target="_blank">Work smart, stay sane: 9 tips to combat stress and burnout</a> <a href="https://www.businessinsider.in/travel/india/webstories/10-serene-coastal-villages-in-india-to-visit-this-october/slidelist/113687424.cms" data-type="tilCustomLink" target="_blank">10 serene coastal villages in India to visit this October</a>

Weekend wrap: Amazon employee reveals tricks to avoid working from office, markets hit all-time highs

India is on the brink of a significant medical innovation with the upcoming launch of <keyword id="23029757" type="General" weightage="20" keywordseo="PresVu-eye-drops" source="keywords">PresVu eye drops</keyword>, a groundbreaking treatment aimed at reducing dependency on <keyword id="23034012" type="General" weightage="20" keywordseo="reading-glasses" source="keywords">reading glasses</keyword>. Developed by Mumbai-based <keyword id="20007796" type="General" weightage="20" keywordseo="Entod-Pharmaceuticals" source="keywords" meta.keywordsubtype="org" meta.entityname="Entod Pharmaceuticals" meta.hostid="261" meta.entityid="Entod Pharmaceuticals">Entod Pharmaceuticals</keyword>, PresVu has recently received approval from the Drug Controller General of India (DCGI) and is scheduled to hit the market in early October 2024. <h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;">What is PresVu?</h3>PresVu eye drops are designed to treat <keyword id="23035383" type="General" weightage="20" keywordseo="presbyopia" source="keywords">presbyopia</keyword>, a common age-related condition that affects the eye's ability to focus on nearby objects. This condition, which typically begins in the early 40s, leads to a gradual decline in <keyword id="23035385" type="General" weightage="20" keywordseo="near-vision" source="keywords">near vision</keyword>, making reading glasses a necessity for millions. As per estimates, nearly one third of Indian adults suffer from the condition. PresVu offers a novel solution, aiming to restore visual independence to those suffering from mild to moderate presbyopia. <div type="Article" hostid="261" msid="112800837" title="Scientists want to help drug addicts recover — by giving them psychedelics" mstype="2" mssubtype="0"></div><h2>How does it work?</h2>The drug contains <keyword id="23035386" type="General" weightage="20" keywordseo="pilocarpine-hydrochloride" source="keywords">pilocarpine hydrochloride</keyword> — a plant-derived compound that has been used for decades to treat various eye conditions and dry mouth. The drops are intended for daily use, with effects lasting several hours, allowing users to perform tasks like reading without the need for glasses. As per the company, the effects of the drops will be apparent within 15 minutes, but complete benefits are only apparent after 15 days of use. The treatment has been thoroughly tested in clinical trials across India and has shown promising results in improving near vision. <div type="Article" hostid="261" msid="112738885" title="India bans 156 commonly used combination drugs citing possible risks to humans" mstype="2" mssubtype="0"></div><h2>Market impact and accessibility</h2>The introduction of PresVu is expected to make a significant impact in India, where the prevalence of presbyopia is rising. As per media sources, each vial will be priced at Rs 345, making it an affordable alternative to reading glasses. Each vial is designed to last about a month, making it a cost-effective solution for long-term use. Entod Pharmaceuticals has ambitious plans for PresVu, targeting not just the Indian market but also emerging markets in Africa and Southeast Asia. The company sees this as a step towards becoming a global innovator in ophthalmology, with future plans to out-licence products in the US market. (Editor's note: PresVu eye-drops have since been suspended by the DCGI for making exaggerated marketing claims related to the product)

Say bye-bye to reading glasses! Mumbai drug-maker to soon introduce eye drops to treat presbyopia in India

Indian firms paid over Rs 8 crore ransom on average to mitigate the impact of <keyword id="6362094" type="PERSON" weightage="20" keywordseo="Ransomware">ransomware</keyword> on its operations and overall, 82 per cent Indian firms were hit by ransomware in the past 12 months, a 15 per cent increase from 2017, a new report said on Tuesday. Two out of three (66 per cent) organisations hit by ransomware in India admitted paying the ransom. Data was encrypted in 91 per cent of attacks that successfully breached an organisation in India. The average cost of addressing the impact of such an attack in India, including business downtime, lost orders, operational costs, and more, was a little over Rs 8 crore. Delhi topped the list as 85 per cent organisations in the national capital were hit by ransomware attacks in the past 12 months, followed by Bengaluru (83 per cent) and Kolkata (81 per cent). At fourth spot was Mumbai-based firms (81 per cent), Chennai (79 per cent) at sixth place and Hyderabad (74 per cent) seventh, according to the "state of ransomware 2020" global survey by cybersecurity firm Sophos. Ransomware is a form of malware that encrypts a victim's files. The attacker then demands a ransom from the victim to restore access to the files. According to Chester Wisniewski, principal research scientist, Sophos, organizations may feel intense pressure to pay the ransom to avoid damaging downtime. "On the face of it, paying the ransom appears to be an effective way of getting data restored, but this is illusory. Paying the ransom makes little difference to the recovery burden in terms of time and cost," he said. This could be because it is unlikely that a single magical decryption key is all that's needed to recover. "Often, the attackers may share several keys and using them to restore data may be a complex and time-consuming affair," said Wisniewski. According to the report, only 8 per cent of victims in India were able to stop the attack before their data could be encrypted, compared with a global average of 24 per cent. Nearly 29 per cent of the IT managers surveyed were able to recover their data from backups without paying the ransom. Globally, the average cost of recovery is $1.4 million if organisations pay the ransom and $730,000 if they don't. The survey polled 5,000 IT decision makers in organisations in 26 countries across six continents. Every organization in India that paid the ransom got their data back, although this was not always the case elsewhere. Globally, nearly 5 per cent of public sector organizations paid the ransom but didn't get their data back. In fact, 13 per cent of the public sector organizations surveyed never managed to restore their encrypted data, compared to 6% overall. "An effective backup system that enables organizations to restore encrypted data without paying the attackers is business critical, but there are other important elements to consider if a company is to be truly resilient to ransomware," informed Wisniewski. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/cognizants-ransomware-attack-is-making-peers-like-tcs-and-infosys-nervous-and-they-are-beefing-up-security/articleshow/75271532.cms">Cognizant's ransomware attack is making peers like TCS and Infosys nervous — and they are beefing up security</a> <a href="https://www.businessinsider.in/tech/enterprise/news/cognizant-ransomware-attack-impact-to-get-worse-in-q2-and-coming-quarters/articleshow/75644164.cms">The Cognizant Maze ransomware saga will show its full impact for many months to come</a> <a href="https://www.businessinsider.in/tech/news/priyanka-chopra-lady-gaga-and-madonna-ransomware-attack-by-revil-known-to-follow-through-on-blackmail-threat/articleshow/75708155.cms">Ransomware attack puts Priyanka Chopra, Lady Gaga, Madonna and other celebrities’ data at risk — and REvil hackers are known to follow through on their threats</a>

82% of companies in India were hit by ransomware — they paid ₹8 crore on average to save themselves

<ul><li>A third-party cloud service provider <keyword id="9634302" type="UNKNOWN" weightage="20" keywordseo="blackbaud">Blackbaud</keyword> was hacked in May but only disclosed the breach on July 23. </li><li>It manages the IT services for the University of York, University of London, <keyword id="312623" type="ORGANIZATION" weightage="20" keywordseo="Oxford-College">Oxford college</keyword> and other educational institutions. </li><li>Blackbaud claims it was able to get the hackers out of its system but only after “a subset of data” was copied off the servers, which is why they had to pay the ransom.</li></ul>One of the world’s leading non-profit software companies was the target of a <keyword id="6465154" type="UNKNOWN" weightage="20" keywordseo="ransomware-attack">ransomware attack</keyword>. A fact they only revealed in July even though the attack was originally detected in May by the company. The hack has reportedly affected universities, non-profit organisations, and foundations. Blackbaud claims that once it spotted the cybercriminals, the company’s IT experts were able to expel the hackers from the system. Blackbaud pays the <keyword id="6362094" type="PERSON" weightage="20" keywordseo="Ransomware">ransomware</keyword> Before the hackers got locked out, the attackers were able to remove “a copy of a subset of data”. The group behind the attack then asked for compensation with the threat of releasing the data to the public. “Because protecting our customers’ data is our top priority, we paid the cybercriminal’s demand with confirmation that the copy they removed had been destroyed,” said Blackbaud in a <a href="https://www.blackbaud.com/securityincident">statement</a>. The payment was made to ensure that the data will not be circulated, misused, or otherwise be made publicly available, according to the company. The company asserts that no credit card, bank account, or social security information was stolen by the hackers. List of universities that have confirmed being a target of the attack: <ol><li>University of York </li><li>Oxford Brookes University </li><li>Loughborough University </li><li>University of Leeds </li><li>University of London </li><li>University of Reading </li><li>University College (Oxford) </li><li>Ambrose University (Canada) </li><li>Rhode Island School of Design (US) </li><li>University of Exeter </li></ol>There has been a 20% jump in ransomware attacks globally, second only to Internet-of-Things malware as per SonicWall’s <a href="https://www.sonicwall.com/2020-cyber-threat-report/">Cyber Threat Report 2020</a>. The attack on Blackbaud is inline with more operators increasing their focus on ‘soft targets’ like education, hospitals and public administration agencies. The two-month wait The bigger issue to be addressed is that the General Data Protection Regulation (GDPR) has asserted that companies must report data breaches to authorities within 72 hours of discovery — or face the consequences in the forms of fines. The <a href="https://www.bbc.com/news/technology-53516413">BBC</a> reports that the UK's Information Commissioner's Office (ICO), as well as the Canadian data authorities, were only informed about the breach last weekend, which is much later than when Blackbaud originally uncovered the threat. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/news/82-of-companies-in-india-were-hit-by-ransomware-they-paid-rs-8-crore-on-average-to-save-themselves/articleshow/75827204.cms">82% of companies in India were hit by ransomware — they paid ₹8 crore on average to save themselves</a> <a href="https://www.businessinsider.in/tech/enterprise/news/cognizant-ransomware-attack-impact-to-get-worse-in-q2-and-coming-quarters/articleshow/75644164.cms">The Cognizant Maze ransomware saga will show its full impact for many months to come</a> <a href="https://www.businessinsider.in/tech/news/priyanka-chopra-lady-gaga-and-madonna-ransomware-attack-by-revil-known-to-follow-through-on-blackmail-threat/articleshow/75708155.cms">Ransomware attack puts Priyanka Chopra, Lady Gaga, Madonna and other celebrities’ data at risk — and REvil hackers are known to follow through on their threats</a>

Ransomware hits IT services giant — they paid the ransom even after locking hackers out of the system

<a href="https://www.businessinsider.com/category/cybersecurity-briefing"></a><div type="image" title="Cybersecurity experts working on protecting company from digital attacks and keeping their information and networks safe." height="2683" width="4022" msid="87721102" hostid="261"></div><ul class="summary-list"><li><keyword id="12048078" type="UNKNOWN" weightage="60" keywordseo="ransomware" source="Orion">Ransomware</keyword> attacks are becoming more sophisticated and effective.</li><li>The first time your company is hit by a <keyword id="6465154" type="UNKNOWN" weightage="60" keywordseo="ransomware-attack" source="Orion">ransomware attack</keyword> is unlikely to be the last.</li><li>Paying a ransom might violate federal antiterrorism laws.</li></ul>Ransomware attacks are when malicious actors use malware to encrypt and often steal corporate and private data while extorting funds in the form of cryptocurrency from the victim. Typically this extortion includes financial demands for the initial decryption key to recover a company's data and systems, as well as ongoing demands for payments to stop attackers from releasing corporate data to the public or onto the <a href="https://www.businessinsider.com/dark-web-changed-the-world-black-markets-arab-spring-2020-3">dark web</a>.Because these attacks are becoming more aggressive and common, companies of all sizes must reevaluate their <keyword id="6361948" type="UNKNOWN" weightage="60" keywordseo="cybersecurity" source="Orion">cybersecurity</keyword> defenses, policies, and procedures. Just this year, several <a href="https://www.businessinsider.com/cyberattacks-are-on-the-rise-in-the-us-experts-say-2021-6">high-profile ransomware attacks</a> have wreaked havoc across North America. These include the <a href="https://www.businessinsider.com/solarwinds-hack-explained-government-agencies-cyber-security-2020-12">SolarWinds attack</a>, which was said to have affected thousands of victims; the <a href="https://www.businessinsider.com/colonial-pipeline-ransomware-cisa-gas-crisis-agencies-hackers-2021-5">Colonial Pipeline attack</a>, which led to a massive run on gasoline; and the <a href="https://www.cbc.ca/news/canada/newfoundland-labrador/nl-cyber-attack-worst-canada-1.6236210">attack</a> on <a href="https://www.gov.nl.ca/">Newfoundland and Labrador's</a> health-system data centers, which knocked out one of the province's most crucial healthcare IT facilities."More and more, attacks are a question of when and not if - but every business can start preparing today," said Patrick McNally, an attorney and a <a href="https://iapp.org/certify/cipp/">certified information privacy professional</a> with the law firm <a href="https://www.beckage.com/">Beckage</a> in Buffalo, New York.A ransomware attack can be triggered by an employee deliberately or accidentally engaging with something suspicious, such as clicking on an email link to a compromised site or opening an infected attachment, by a disgruntled employee or outsider planting malware in a corporate network, or by lapses in software security patches or use of out-of-date hardware. According to IBM, data-breach costs <a href="https://www.ibm.com/security/data-breach">rose</a> to $4.24 million in 2021, the highest average cost in the past 17 years. In its January report "<a href="https://www.gartner.com/en/documents/3995229/detect-protect-recover-how-modern-backup-applications-ca">Detect, Protect, Recover: How Modern Backup Applications Can Protect You From Ransomware</a>," Gartner estimated that at least 75% of IT organizations would experience one or more cyberattacks. And researchers have described a dramatic increase in ransomware attacks in 2020. In a <a href="https://www.cybereason.com/press/new-cybereason-ransomware-study-reveals-true-cost-to-business">survey</a> conducted earlier this year by <a href="https://www.cybereason.com/">Cybereason</a>, 80% of organizations that reported having previously paid ransom demands said they'd been exposed to a second attack. Nearly half of those companies targeted twice said they were attacked by the same actors that initiated the first strike. Selim Aissi, the chief information security officer in residence and chairman of the board of the <a href="https://www.ntsc.org/">National Technology Security Coalition</a>, sees ransomware as more than just a technical challenge. Ransomware attacks could drive a company out of business if the response is ineffective, he said."A ransomware attack can bring any organization to a grinding halt - and the potential consequences can be even worse for a midsize business," McNally said. "Too often, smaller and medium-sized businesses lose access to their data, their backups, and the critical systems that allow their day-to-day activities to continue."<h1>Ransomware Rapid Response</h1>If your company is the victim of a ransomware attack, Aissi suggested taking these initial steps to reduce the attack's effectiveness and begin remediation. <ul><li>Have an organized and calm response. To avoid rash decisions, incorporate a playbook that explains exactly what actions are needed.</li><li>Put together a well-represented task force with a "commander" to manage the incident. Group members should include people from the board of directors, information <keyword id="11893017" type="UNKNOWN" weightage="100" keywordseo="technology" source="Orion">technology</keyword>, risk, compliance, legal, human resources, and public relations.</li><li>Isolate the infected network segments, systems, and other IT resources.</li><li>Force a password reset across the organization for privileged and unprivileged users, service accounts, and other systems.</li><li>Leverage external help, such as a specialized service provider, specialized legal firm, and forensics teams.</li><li>Work with a cybersecurity insurance provider.</li><li>Never unplug the affected systems; essential forensic data could be lost when the power goes off. To prevent a larger risk, isolate the system from the network.</li></ul>The damage from ransomware attacks can have a lasting impact on a company. Attackers can access or steal sensitive data, which can mean the company has a legal obligation to notify the affected individuals. And while companies must balance the cost of remediation against paying the ransom - and hopefully reclaim their data - the repercussions of sending funds to a sanctioned entity could be severe. <a href="https://home.treasury.gov/">The US Treasury Department</a> says that if a company pays a ransom to a US-sanctioned country, threat actor, or other named group or individual, the company could be in violation of laws against funding terrorism. In September, the department's <a href="https://home.treasury.gov/policy-issues/office-of-foreign-assets-control-sanctions-programs-and-information">Office of Foreign Assets Control</a> updated its ransomware advisory to say that the government "strongly discourages all private companies and citizens from paying ransom or extortion demands and recommends focusing on strengthening defensive and resilience measures to prevent and protect against ransomware attacks."

What to know about the growing threat of ransomware attacks and their impact on companies of all sizes

<a href="https://www.businessinsider.com/category/cybersecurity-briefing"></a><div type="image" title="Cybercriminal experts solving IT problems" height="2652" width="3975" msid="87992348" hostid="261"></div><ul class="summary-list"><li>The corporate world must prepare for what comes after a cyberattack. </li><li>A <keyword id="6465154" type="UNKNOWN" weightage="60" keywordseo="ransomware-attack" source="Orion">ransomware attack</keyword> might risk a company's valuation.</li></ul>Cybersecurity in the corporate environment is an enigma. In some companies, it's seen as an obstacle to smooth sales operations, as security can cause delays and impose impediments to fast-moving sales opportunities. In other companies, it's a business imperative and a top concern for the board of directors as well as a focus when it comes to acquiring and managing talent. For the rest, cybersecurity is somewhere in the middle — companies need it to meet regulatory and legal requirements for governance, risk, and compliance, while others see it as a distraction. In a recent <a href="https://www.cnbc.com/2021/08/10/main-street-overconfidence-small-businesses-dont-worry-about-hacking.html">CNBC and Momentive survey</a> of 2,000 small businesses, 56% of respondents said they were not concerned about being hacked in the next 12 months, while 24% said they were "not concerned at all." That said, Verizon's <a href="https://www.verizon.com/business/resources/reports/dbir/">2021 Data Breach Investigation Report</a> found that 28% of data breaches in 2020 involved small businesses.Industry reports <a href="https://www.inc.com/joe-galvin/60-percent-of-small-businesses-fold-within-6-months-of-a-cyber-attack-heres-how-to-protect-yourself.html">indicate</a> that 60% of businesses go out of business within six months of a <keyword id="11965160" type="UNKNOWN" weightage="60" keywordseo="data-breach" source="Orion">data breach</keyword> or cyberattack, according to the National <keyword id="11908960" type="UNKNOWN" weightage="60" keywordseo="cyber-security" source="Orion">Cyber Security</keyword> Alliance. This comes as cybercriminals improve their effectiveness and expand their capabilities.In many organizations, the responsibility of cybersecurity lies with the technical staff, including the chief information officer and chief information-security officer (CISO). <h1>What the board wants to know</h1>When making a presentation to the board of directors about a cybersecurity incident or data breach, it's best to avoid technical jargon. Here are the top cybersecurity topics boards want to know: <ol><li>What is the cost — in staff hours — to recover from an incident?</li><li>How long will it take to restore services to affected staff and/or users?</li><li>How will a cybersecurity breach influence the company's reputation?</li><li>What are the legal-compliance implications of disclosing or not disclosing a breach?</li></ol>Cyber threats affect more than data infrastructure. <keyword id="12243909" type="UNKNOWN" weightage="60" keywordseo="cyberattacks" source="Orion">Cyberattacks</keyword> also threaten reputation, mergers and acquisitions, corporate valuation, the ability to raise or obtain funding, and other business-centric functions that are outside the purview of the technical teams."When a cyber incident hits, it affects the whole business, and critical decisions need to be made within hours — not days — of an incident," said Kevin Breen, the director of cyberthreat research at <a href="https://www.immersivelabs.com/">Immersive Labs</a>, a cybersecurity-preparedness company.As part of this response, there needs to be a rapid understanding of the broader risk, governance, and legal requirements. "It's critical that a CISO breaks down the technical jargon into clear, concise, and actionable decision points" for the board of directors, Breen said, adding: "Context is arguably the most important piece of information you need, and that must involve all stakeholders at the earliest stage."For example, if a company is planning a merger or acquisition, a cyberattack might influence the value of the asset being acquired or the amount of money the company can raise. In 2017, after Yahoo disclosed two major data breaches, Verizon's <a href="https://www.businessinsider.com/yahoo-verizon-revised-deal-2017-2">acquisition</a> offer for the company dropped from $4.75 billion to $4.48 billion, a whopping $350 million decrease.<h2>The importance of cybersecurity due diligence </h2>An often overlooked component of a merger or acquisition is how both corporate entities' cybersecurity tools, policies and procedures, and operations will come together. Incompatible systems, software, and the implementation of security protocols can lead to data leaks and holes in the different security systems."It's not just an attacker you have to worry about — you could have to deal with human error, too," Breen said. "Before joining two networks, a full inventory of infrastructure should be done to understand what assets are in place and who has ownership. It would be easy, for example, to lose track of a development or testing network, leaving it unpatched and exposed as a hidden weak spot."<h2>Cyber-insurance requirements</h2>While it's important to have a comprehensive cybersecurity strategy, cyber-insurance vendors require a list of components for policy eligibility. While these checklists can vary from vendor to vendor, many of the must-have items are similar. They often include:<ul><li>A written incident-response plan</li><li><a href="https://ironcladapp.com/journal/contracts/what-is-an-msa/">Master services agreements</a> and service-level agreements</li><li>Multifactor authentication</li><li>Third-party risk management</li><li><a href="https://www.rapid7.com/fundamentals/patch-management/#:~:text=Patch%20management%20is%20the%20process%20of%20distributing%20and%20applying%20updates%20to%20software.&amp;text=Common%20areas%20that%20will%20need,be%20used%20to%20fix%20it.">Patch management</a></li><li>Vulnerability management </li><li><a href="https://www.mcafee.com/enterprise/en-us/security-awareness/endpoint/what-is-endpoint-detection-and-response.html">Endpoint detection and response</a></li></ul>Often, attorneys who specialize in cybersecurity check whether companies have <keyword id="12635551" type="UNKNOWN" weightage="60" keywordseo="cyber-insurance" source="Orion">cyber insurance</keyword> to partly protect against financial losses.It's common for companies in the current cyber-insurance environment to be at risk of losing their protection. Carriers and brokers are more closely reviewing policies up for renewal because of significant financial losses over the past year. In Canada, for example, cyber insurers are seeing a loss ratio of 113%, according to <a href="https://www.canadianunderwriter.ca/insurance/how-much-canadian-insurers-have-lost-on-cyber-liability-so-far-in-2021-1004211880/">Canadian Underwriter.</a>

Cyberattacks threaten the corporate world. Here's what companies need to know about what comes next.

<ul><li>The <keyword id="11930600" type="UNKNOWN" weightage="60" keywordseo="us-treasury" source="Orion">US Treasury</keyword> reminded <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> companies of their growing responsibility to not enable <keyword id="12048078" type="UNKNOWN" weightage="60" keywordseo="ransomware" source="Orion">ransomware</keyword> payments, and to sanction evaders.</li><li>Ransomware payments have been on the rise this year as <keyword id="11895317" type="UNKNOWN" weightage="60" keywordseo="cryptocurrencies" source="Orion">cryptocurrencies</keyword> make payments by companies held hostage hard to trace.</li><li>"We need partners in the private sector to help prevent this illicit activity," the US Treasury said.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul>Crypto companies have a growing responsibility to help prevent ransomware payments and sanction evaders, the Treasury said in a statement on Friday.Ransomware payments have surged in 2021 as cyber criminals take company data hostage and demand payment in the form of cryptocurrencies to unlock it. This makes payments both harder to trace and easier to make for companies looking to get their data back quickly.Suspected ransomware payments hit $590 million in the first six months of the year, well above the $416 million paid in all of 2020, according to the Treasury department.A <a href="https://www.businessinsider.com/colonial-pipeline-us-issues-emergency-measures-after-fuel-cyberattack-2021-5">ransomware attack against the Colonial Pipeline</a> led to temporary gas shortages in the southeast earlier this year after the oil and gas company's pipeline was shutdown for days. Colonial <a href="https://www.businessinsider.com/colonial-pipeline-ransomware-cisa-gas-crisis-agencies-hackers-2021-5">paid the ransomware attackers in cryptocurrency</a> to remedy the situation. "The virtual currency industry, including technology companies, exchangers, administrators, miners, wallet providers, and users, plays an increasingly critical role in preventing sanctioned persons from exploiting virtual currencies to evade sanctions and undermine U.S. foreign policy and national security interests," the <a href="https://nationalpost.com/pmn/news-pmn/crime-pmn/u-s-treasury-warns-crypto-industry-on-preventing-sanctions-violations">Treasury said</a> in a statement. This is the Treasury department's first overt outreach to the crypto industry to help in preventing US sanction evaders and criminal activity that is enabled by cryptocurrencies, such as ransomware payments."Treasury is helping to stop ransomware attacks by making it difficult for criminals to profit from their crimes, but we need partners in the private sector to help prevent this illicit activity," Deputy Treasury Secretary <a href="https://www.reuters.com/business/finance/us-treasury-warns-crypto-industry-preventing-sanctions-violations-2021-10-15/">Wally Adeyemo said.</a>

US Treasury alerts crypto companies to their growing role in preventing ransomware payments and sanctioning evaders

India has been the worst hit by <keyword id="6362094" type="PERSON" weightage="20" keywordseo="Ransomware">ransomware</keyword> in the Asia Pacific (APAC) region, with 74 per cent of organisations having suffered a ransomware attack this year, as compared to 67 per cent in Australia, 52 per cent in Japan and 46 per cent in Singapore, said a survey on Wednesday. About 34 per cent Indian respondents shared that they have paid between $1 million-$2.5 million as a result of malware attacks in the last 12 months as compared to 21 per cent in Japan, 69 per cent in Singapore and 23 per cent in Australia, showed the survey by US-based cybersecurity company CrowdStrike. Indian organisations feel most threatened by eCrime groups (90 per cent), hacktivists (77 per cent) and insider threats (66 per cent) followed by threats from nation states (64 per cent), according to the "2020 CrowdStrike Global Security Attitude Survey." The results showed that 76 per cent respondents feel most threatened by cyberattacks originating from China followed by Pakistan (48 per cent) and Russia (43 per cent). China has been a common threat across regions with 75% in Japan, 72% in Singapore and 72% in Australia. More than half of Indian organisations feel that nation state attacks will be the biggest concern for 2021. "This year has been especially challenging for organisations of all sizes around the world, with both the proliferation of ransomware and growing tensions from nation-state actors posing a massive threat to regions worldwide," Michael Sentonas, Chief Technology Officer, CrowdStrike, said in a statement. "Now more than ever, organisations are finding ways to rapidly undergo digital transformation to bring their security to the cloud in order to keep pace with modern-day threats and secure their 'work from anywhere' operations." The Covid-19 pandemic catalysed increasing concerns around <keyword id="2989696" type="PERSON" weightage="20" keywordseo="ransomware-attacks">ransomware attacks</keyword>, with many organisations resorting to paying the ransom. The global attitude has shifted from a question of if an organisation will experience a ransomware attack to a matter of when an organisation will inevitably pay a ransom. The APAC region is suffering the most when paying the ransom with the highest average payout at $1.18 million, followed by EMEA (Europe, the Middle East and Africa) at $1.06 million and the US at $0.99 million. The study surveyed 2,200 senior IT decision-makers and IT security professionals in the US, the UK, France, Germany, Spain, Italy, the Netherlands, Middle East, India, Japan, Singapore and Australia across major industry sectors. The report details the attitudes and beliefs of those in charge of cybersecurity, and tracks how they are faring against sophisticated and pervasive cyberattacks. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/capgemini-hr-head-explains-why-the-french-it-major-is-going-crazy-hiring-in-india-and-around-the-world/articleshow/79277396.cms">EXCLUSIVE: Capgemini HR head explains why the French IT major is going crazy hiring in India and around the world</a> <a href="https://www.businessinsider.in/business/news/indiamart-and-justdial-in-legal-battle-over-copyright-violations/articleshow/79275178.cms">IndiaMart and JD Mart gear up for a legal battle over copyright infringement — even as Justdial calls IndiaMart’s allegations ‘baseless’</a> <a href="https://www.businessinsider.in/india/news/cipla-launches-a-new-rapid-antibody-detection-test-for-covid-19-which-will-give-you-results-in-less-than-10-minutes/articleshow/79275894.cms">Cipla launches Covi-G — a new rapid antibody detection test for COVID-19 which will give you results in less than 10 minutes</a>

Indian businesses hit by more ransomware attacks than Australia, Japan and Singapore reveals new survey

<ul class="summary-list"><li>Friday's <keyword id="1898030" type="PERSON" weightage="60" keywordseo="darkside">DarkSide</keyword> attack took down a major oil pipeline that supplies the US East Coast.</li><li>A cybersecurity expert said such <keyword id="6362094" type="PERSON" weightage="60" keywordseo="Ransomware">ransomware</keyword> attacks tend to target municipal governments.</li><li>The expert's kids were out of school for four days last year after Baltimore's school system was hacked.</li></ul>The <a href="https://www.businessinsider.com/pipeline-cyber-attack-darkside-hacker-group-shutdown-ransomware-money-politics-oil-2021-5">hacking of a major US oil pipeline Friday</a> is the latest in a string of cyberattacks under federal investigation.The stories read like movie loglines: A reportedly Russia-backed group <a href="https://www.businessinsider.com/solarwinds-hack-explained-government-agencies-cyber-security-2020-12">slowly burrowed its way into US digital infrastructure</a>, gaining access to important government accounts. An unknown cyber-assailant <a href="https://www.businessinsider.com/hacker-tried-to-poison-water-supply-in-oldsmar-florida-2021-2">tried to poison a Florida town's water supply</a>. And now, a group of veteran cybercriminals <a href="https://www.businessinsider.com/pipeline-cyber-attack-darkside-hacker-group-shutdown-ransomware-money-politics-oil-2021-5">took down an East Coast oil pipeline and held it ransom</a>.Ransomware attacks are common and are the cyberattack with the most potential to wreak havoc on everyday life, according to Ben Miller, an executive at the industrial cybersecurity firm Dragos Inc.Miller had firsthand experience with a ransomeware attack in November, when <a href="https://www.baltimoresun.com/education/bs-md-baltimore-county-schools-ransomware-20201130-20201130-7cymrekdpfhyjccotvyzrn6amq-story.html">hackers took over Baltimore's school system</a> and forced it to shut down for four days."My kids didn't have any snow days this year because they had school from home," Miller told Insider. "They had ransomware days."There are two major types of cyberattacks, according to Miller: attacks like the one on US information <keyword id="6355118" type="UNKNOWN" weightage="60" keywordseo="technology">technology</keyword> firm <keyword id="609247" type="UNKNOWN" weightage="60" keywordseo="SolarWinds">SolarWinds</keyword>, <a href="https://www.businessinsider.com/us-intelligence-agencies-solarwinds-hack-was-likely-russian-in-nature-2021-1">which US intelligence agencies say Russia was behind,</a> that seek some kind of geopolitical advantage. Then there is smaller-scale ransomware, where - normally private actors that may or may not work with tacit government permission - go after companies and other institutions and then extort them to ease up on the attack.The DarkSide attack against the <keyword id="1968507" type="PERSON" weightage="60" keywordseo="Colonial-Pipeline">Colonial Pipeline</keyword> was a <keyword id="6465154" type="UNKNOWN" weightage="60" keywordseo="ransomware-attack">ransomware attack</keyword>. The hacking group <a href="https://www.businessinsider.com/pipeline-cyber-attack-darkside-hacker-group-shutdown-ransomware-money-politics-oil-2021-5">shut down a major pipeline</a> that runs from Texas to New York, demanding money in order to restore its service in what Miller said was an example of how cyberattacks are increasingly affecting the "real world."Some of the most common targets of ransomware are municipal governments that are "under-resourced and under-managed" when it comes to cybersecurity, Miller said. Several other school systems in the US <a href="https://www.nbcnews.com/tech/security/parents-end-chain-ransomware-hit-rcna646">were hit by ransomware attacks in the past year</a>. In April, the Justice Department <a href="https://www.wsj.com/articles/ransomware-targeted-by-new-justice-department-task-force-11619014158">announced a new task force</a> to address ransomware attacks across the US. Ransomware gangs also go after hospitals, as in <a href="https://www.theguardian.com/technology/2017/aug/03/wannacry-hackers-withdraw-108000-pounds-bitcoin-ransom">the 2017 Wannacry hack</a> that shut down parts of Britain's National Health Service.The hackers typically want to cause as much pain as possible so that they can get paid quickly, Miller said, making critical infrastructure an appealing target."When they can have a direct impact on their business - like shutting down a pipeline or impact to some facility - it does ring a chord with the victims and how they respond to that," Miller said.Miller said cyberattacks are so commonly directed at US companies because they're wealthy enough to pay off ransomware attackers. Ransomware hacking groups view themselves as businesses, he said, and target companies and institutions in countries where they're likely to make money: The United States, Britain, and Germany."The industry in the US would be more likely to pay an extortion of a couple of hundred thousand dollars or whatever," Miller said. "Not to say that they should, or do - but they're perceived that way, compared to firms in South America or Africa where that would literally, in many cases, put these firms out of business."

Ransomware attacks hit 'under-resourced' city governments hardest, says cybersecurity expert whose kids' school was shut down by hackers for 4 days

Hackers broke into the servers of news agency Press Trust of India (PTI) over the weekend, crippling its service for hours on Saturday night before they were resumed. According to a company spokesperson, "The computer servers suffered a massive <keyword id="6465154" type="UNKNOWN" weightage="20" keywordseo="ransomware-attack">ransomware attack</keyword>, disrupting operations and the delivery of news to hundreds of subscribers across India for several hours before they were restored after an all-night effort by engineers". According to sources, no ransom was paid and the engineers worked through the night to restore the services by Sunday morning. The ransomware was identified as <keyword id="10172081" type="UNKNOWN" weightage="20" keywordseo="lockbit">LockBit</keyword> that encrypted data and applications, crippling the news delivery to subscribers. LockBit functions as ransomware-as-a-service (RaaS). According to cyber security firm Kaspersky, LockBit ransomware is a malicious software designed to block user access to computer systems in exchange for a ransom payment. LockBit will automatically vet for valuable targets, spread the infection, and encrypt all accessible computer systems on a network. This ransomware is used for highly targeted attacks against enterprises and other organisations. LockBit is a new ransomware attack in a long line of extortion cyberattacks. Formerly known as "ABCD" ransomware, it has since grown into a unique threat within the scope of new extortion tools. Attacks using LockBit originally began in September 2019, when it was dubbed the ".abcd virus." The moniker was in reference to the file extension name used when encrypting a victim's files. "Notable past targets include organisations in the United States, China, India, Indonesia, Ukraine. Additionally, various countries throughout Europe (France, the UK, Germany) have seen attacks," according to Kaspersky. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/kotak-mahindra-bank-q2-results-show-profit-up-by-27/articleshow/78869757.cms">Kotak Mahindra Bank still on ‘alert’ as profit improves 27% over the last three months</a> <a href="https://www.businessinsider.in/defense/news/nsa-ajit-doval-new-india-doctrine-declared-ahead-of-mike-pompeo-visit-to-india/articleshow/78868816.cms">National Security Advisor lays ‘New India’ doctrine ahead of Pompeo’s visit to India</a> <a href="https://www.businessinsider.in/finance/banks/news/indusind-bank-shares-rally-4-after-rumours-of-kotak-mahindra-bank-merger/articleshow/78867706.cms">IndusInd Bank shares rally 4% after promoters refute reports of merger with Kotak Mahindra Bank</a>

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