China's banking regulator to step up protection after cyber attack

19 May, 2017, 13:31 | Author: Leticia Walters
  • Bitcoin: Hackers' 'anonymous' currency

Speaking about the same, Dinesh Yadav, Centre for Cyber Crime Investigation, Noida told Indian Express, "WannaCry encrypts core system files and the operating system stops functioning".

One theory suggested that 90 percent of NHS trusts across the United Kingdom were using Microsoft's 16-year-old OS Windows XP, which could leave them susceptible to attacks.

The WannaCry ransomware that has spread to computers in 150 countries may end up benefiting Microsoft's stock price. The malware primarily targeted users of Windows XP, which was launched by Microsoft in 2001.

Blaming Microsoft for not providing free custom support to its customers who were using old Windows software that may have slowed down "WannaCrypt" attack, a media report has said the tech giant charged a fortune for the custom support for older versions, including Windows XP that was discontinued in 2014.

When it comes to Windows, most firms are using XP, Vista, Windows 7, Windows 8, or Windows 10.

"You can point a lot of fingers, but I think given that this was not a zero-day vulnerability (for which no patch is available), the people hacked are to blame", said Robert Cattanach, a partner at the global law firm Dorsey & Whitney and an expert on cybersecurity and data breaches. Microsoft requires Windows 10 customers to automatically update their computers, but some people with older PCs disabled automatic updates.

Michael Mitchell, spokesman for Oreo cookie maker Mondelez International, said the company is not aware of any incidents from the attack, though it did alert employees. "When you click on anything, a pop-up window opens where the attacker asks for more ransom to decrypt files". They were faced with the most devastating attack on IT systems that they had ever seen.

Microsoft is pointing its finger at the US Government, while many experts say the software giant is also accountable.

Microsoft has sent sounded out a warning to establishments worldwide, urging them to treat this malware attack as a "wake-up call", but hasn't taken responsibility for exposing hundreds of thousands of users to extortion by cyber attackers such as ShadowBrokers.

Meanwhile, Reuters reported US President Donald Trump's Homeland Security Adviser, Tom Bossert, said less than $70,000 (£55,000 approx.) was paid in ransom after the cyber attack, adding that none of these payments led to any recovery of data.

"Repeatedly, exploits in the hands of governments have leaked into the public domain and caused widespread damage".

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