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Listen to this article in summarized format The company said the incident occurred on May 16, 2026, following which it promptly activated containment and incident response protocols and engaged a specialist firm to assess the extent of the potential impact. Also Read: Cybersecurity breaches emerge as top risk for India Inc: Report While the detailed assessment is still underway, HDFC AMC said preliminary findings indicate that the incident is unlikely to affect business continuity or operations and that there does not appear to be any material impact on the company. The disclosure was made as part of regulatory compliance and good governance practices, the company added. HDFC AMC share price opened lower on Monday and were last trading down 2.3% to Rs 2,645.9, as of 9:16 am. The incident comes at a time when cyber-security risks are emerging as a growing concern for Indian businesses and financial institutions, amid a sharp rise in digital fraud cases across the country. According to official data, high-value cyber fraud incidents in India surged more than fourfold in fiscal 2024, leading to losses of about $20 million, as per a report from Reuters. The number of cases involving amounts of Rs 1 lakh or more jumped to 29,082 from 6,699 in the previous year, underscoring the rapid escalation in scale. With India’s expanding digital payments ecosystem—fuelled by low-cost mobile data and widespread adoption of platforms such as Paytm, Google Pay and PhonePe—the financial system has become increasingly vulnerable to fraud attempts even as transaction volumes surge. Broader industry surveys also highlight the mounting concern. A recent FICCI-EY Risk Survey found that cyber-attacks and data breaches are now among the top risks for Indian companies, with a majority of senior executives flagging them as a key threat to financial and reputational stability. Also Read: Upwind:
EU AI Act leaves agents in regulatory limbo A new paper published by AI ethicists draws attention to a hole in the EU AI Act surrounding high-risk agentic systems. AI agents do not formally exist in the EU’s AI Act, the world’s first comprehensive artificial intelligence legislation. By design, neither the regulation, nor its accompanying harmonized standardization request, include the term, as the law regulates AI systems instead of specific types of models. However, the rapid technological advancement of agents and agentic systems, including increasingly complex multi-agent architectures, raises significant questions for firms’ compliance departments. Whe Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content. To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: https://subscriptions.waterstechnology.com/subscribe You are currently unable to print this content. Please contact info@waterstechnology.com to find out more. You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more. Copyright Infopro Digital Limited. All rights reserved. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy. If you would like to purchase additional rights please email info@waterstechnology.com Copyright Infopro Digital Limited. All rights reserved. You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5. If you would like to purchase additional rights please email info@waterstechnology.com More on Emerging Technologies CME to launch compute futures, agentic AI for capital calls, and more The Waters Cooler: A recap of the major tech and data news from the past week in the capital
This week on the Lock and Code podcast… In May of last year, a warning about AI came from somewhere unexpected: The Auschwitz-Birkenau State Museum. Posting publicly on social media, the museum warned about a Facebook account using generative AI to create fake images of people who died in the Holocaust. Despite using AI to generate fake images, the people in said images were sometimes real. They had real names, birthplaces, and stories of deportation that the Auschwitz-Birkenau State Museum itself had shared before. They had real faces captured in real surviving photographs, which were likely abused to generate the false images. In other words, someone, or some team of people online, was deepfaking the Holocaust. As the Auschwitz museum wrote online: “These are not real photos of the victims. They are digital inventions, often stylized or sanitized, that risk turning remembrance into fictionalized performance. The history of Auschwitz is a well-documented story. Altering its visual record with AI imagery introduces distortion, no matter the intent.” Months later, the public found out what that intent was: money. A BBC investigation found an international network of Facebook accounts posting AI-generated images to earn money from those images’ potential virality. It’s a problem sometimes referred to as “AI slop” but it comes with a major incentive. When accounts that make these kinds of images are invited to Facebook’s content monetization program, they can make $1,000 a month for posting anything that gets clicks. And on Facebook, the BBC found, that means several accounts posting AI-generated images about the Holocaust. As the BBC reported: “AI spammers have posted fake images purporting to be from inside [Auschwitz], such as a prisoner playing a violin or lovers meeting at the boundaries of fences—attracting tens of thousands of likes and shares.” The economics of lying are
France wants The two carmakers âmust play their part on European preference, including in terms of purchases with their suppliers,â French Finance Minister President Learn more about Bloomberg Law or Log In to keep reading: See Breaking News in Context Bloomberg Law provides trusted coverage of current events enhanced with legal analysis. Already a subscriber? Log in to keep reading or access research tools and resources.
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Skip to main content Mobile Menu Icon Thumbnails View Thumbnails More Galleries More Galleries 1/3 Close Close UAlbany cybersecurity student studies how smart device data can fuel targeted attacks UAlbany cybersecurity student studies how smart device data can fuel targeted attacks. (WRGB) Read article Read The Article SHARE Facebook Share Icon X Share Icon Send via Email Share Icon
A computer science lecturer warns that universities are much more vulnerable to having their systems hacked, after the learning portal many use had its security breached last week. Last Friday, the Canvas system was hacked by a "malicious actor", and names, email addresses, phone numbers and messages between students and staff were put at risk. The system, used by about 9000 institutions worldwide, was out of action for about two days, before it was brought back online. University of Auckland computer science lecturer and technology consultant Ulrich Speidel said the system was now far more vulnerable to future hacks, because the hackers had got inside the programme. "The moment you're on the inside and you can actually see the code that's there, it makes it much, much easier to look for security holes." Because of that, he worried the hackers could strike again soon. "We might be seeing those hackers come back in days or weeks to come, once they've looked through the code that they may have been able to look at." Speidel said his department was planning for how it would teach students without Canvas, if there was another hack. He had raised concerns about Canvas in the past, after noticing that students could log into one account from different locations during an exam, allowing them to bring in outside helpers. He said the response from Instructure, which runs Canvas, was to ask him to put it on to the community mailing list and, if enough people supported it, they'd fix it. "That's not really the attitude that I'd expect from a supplier who prides themselves on providing a secure system." Earlier this week, Instructure said it had "reached an agreement" with the hackers. As part of the agreement, the stolen data had been returned, along with digital
Not to ruin, but can i add more reason? Approved budget and FULL COMITMENT SUPPORT. The last part also critical. ~thatsallfornow they should tell that security will use AI. Just saying AI there will get more attention than any chart… Who cares it won’t work later on… I know this is an old video but it warms my heart every time I watch it ❤️ If only ciso had a board seat… Never happens... Great!🙏🌹 Cool.. Eminem and Michael? That moment when a CISO gets budget approval is rarer than most people think. And the pure joy of those kids? That's exactly what it feels like after months of ROI justifications, risk reports, and 'we'll revisit next quarter' promises. But here's what the video doesn't show: the real victory isn't the budget — it's what the CISO does next. Three ways to honor that 'abrazos' moment: 1. Deliver quick wins first. Nothing kills future budget like a program that takes 18 months to show value. Pick a 90-day project (MFA rollout, asset inventory, phishing simulation) and report back early. 2. Thank the board members who championed you. Budget approval is political. Send a personal note to each advocate. They'll remember when next year's request comes. 3. Celebrate with your team. That abrazo shouldn't be solo. Your analysts, engineers and compliance folks bled for those slides. Acknowledge them publicly. Budget is trust in motion. The CISO who runs to their team with that same energy as the kids in the video? That's how you build a security culture that lasts.
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Indiana wants more students to pursue careers in cybersecurity by expanding access to a new pathway that includes advanced technology classes and military mentorship. Launching in June, the cybersecurity pathway’s direct connection to the Indiana National Guard makes it unique both in Indiana and in the nation, allowing students who take it to potentially earn any of the state’s new diploma seals that lead to enrollment, employment, or enlistment. While there has been some overlap in the state’s new diploma requirements for enrollment- and employment-bound Hoosier students, the enlistment pathway has stood apart with an emphasis on JROTC and the military aptitude test, the ASVAB. By taking AP or Project Lead the Way cybersecurity classes, along with work experience opportunities in the cybersecurity sector, and mentorship from the Indiana National Guard, students can earn any one or more of the diploma seals, education officials said. They can then pursue a college degree in the field, a job in the industry, or a cybersecurity specialty in the military. The pathway will be the nation’s first “military aligned cybersecurity pathway,” according to the state’s presentation. The announcement of the new pathway comes in the week after a cyberattack affected a learning management system used at schools like Indiana University. Both education and military officials highlighted a growing need for cybersecurity professionals across industries. Speaking to the state board, Lt. Col. Brent Nelson of the Indiana National Guard said cybersecurity is important not just to national security but in academia, industry, healthcare, and utilities too. “We can have a cyber attack occur from half a world away and it can affect every member of the population in Indiana and across the nation,” Nelson said. “It’s imperative we have a pipeline of strong leaders able to take on that role.” The state’s plan includes
- United States - / - Software - / - NasdaqGS:CRWD CrowdStrike (CRWD) Valuation Check After Analyst Upgrades And New AI Cybersecurity Tools Recent analyst upgrades and fresh product launches have pushed CrowdStrike Holdings (CRWD) back into the spotlight, as new AI driven tools and Falcon OverWatch for Defender sharpen the company’s pitch as a unified cybersecurity platform. See our latest analysis for CrowdStrike Holdings. The share price has recently shown strong momentum, with a 42.06% 1 month share price return and a 38.27% 3 month share price return. The 5 year total shareholder return of 182.09% may be of interest to investors reviewing longer term performance. If AI driven cybersecurity is on your radar, this may be a moment to broaden your watchlist with a curated set of 62 profitable AI stocks that aren't just burning cash With the stock at US$594.08 and trading at a premium to one popular intrinsic value estimate and to the average analyst target, the key question is whether recent AI headlines justify this valuation or whether markets are already pricing in the next leg of growth. Most Popular Narrative: 37.8% Overvalued Compared with the latest close at $594.08, the most followed narrative from Simply Wall St users pegs CrowdStrike Holdings' fair value at $431.24. This creates a wide gap that hinges on how durable the Falcon platform story really is. So he build a fully cloud-based platform, named Falcon. It has a modular concept, and customer pays within an abo model only the contracted modules. At any time they may take modules in or out of scope. Highly flexible, and the changes are nearly instantaneously, because of the cloud native approach. Want to see why this narrative still lands below today’s price even with punchy growth, expanding margins and a long runway for
This commentary was originally published by CalMatters. Sign up for their newsletters. The last message I expected to receive Thursday afternoon, May 7, was a request by a student to postpone an assignment because of a cyberattack. Canvas, the tool where millions of students around the world submit their work, check their grades, watch lectures and take quizzes was inaccessible to faculty and students in the waning days of the school year. About an hour after I got the message, I was trying to assess the damage. For me, it was not that bad. I give paper tests and quizzes and I’ve been regularly creating Slack workspaces for my classes. I mainly use Canvas to link to documents and allow students to check their scores and ponder about their grades. It was a real hassle when the only answers to “How am I doing in this class” sat in a private gradebook in the instructor's office. But I am probably in the minority. Many of my colleagues are heavily dependent on Canvas, especially for bigger or online classes — those that have no live lectures. For them this was “deeply disruptive,” as the California Faculty Association put it. I had never heard of the parent company Instructure before, and until this hack, I didn’t realize Canvas content was centrally stored. It’s been at least a decade-long trend to move services off campus to save on costs. All kinds of records and student databases are offsite now. The pitch is always the same: save money by doing things at scale. Cut out expensive maintenance and data storage. Why pay for servers and IT staff for technology that will be obsolete in a few years? The vendors who contract with university campuses swear up and down that it’s safe, secure and it
This Week's Top Five Stories in Cyber Canvas Hack: Why did Instructure Pay Ransom to ShinyHunters? In a controversial decision in cybersecurity, edtech giant Instructure has paid ransom to ShinyHunters, after the threat group hacked into widely adopted educational software Canvas – twice. The popularity of the tool meant widespread disruption across thousands of institutions in the US, Canada, Australia and the UK with studies affected, exams postponed and sensitive student data stolen. ShinyHunters claimed they stole over 3.5 terabytes of data, which includes personal identifying information such as names, email addresses, student ID numbers and messages between teachers and students. Instructure said the hackers agreed to return the data, prove they destroyed their copies and promise not to bother customers for money. Gallagher: Is AI & Cyber Insurance a New InsurTech Frontier? Cybersecurity professionals are confronting a new reality in 2026 where AI deployment and cyber risk management are no longer separate disciplines. According to the latest Q1 2026 Global InsurTech Report from Gallagher Re, investment into AI-focused insurance companies reached US$1.63bn in the first quarter of the year. This figure represents a marginal decrease from the US$1.67bn recorded in Q4 2025, but shows sustained capital interest in technologies that address digital risk. Freddie Scarratt, Global Deputy Head of InsurTech at Gallagher Re, says: "The accumulation of silent AI risk represents a fundamental threat to underwriting discipline – it creates a scenario where insurers are providing 'accidental' capacity for complex, high-stakes events they have neither modelled nor priced." Daybreak: OpenAI's New Dawn of AI Cyber Defence with GPT 5.5 OpenAI has launched Daybreak, a platform designed to embed AI models into software development and security workflows. The company describes the tool as built to help defenders see risk earlier and act sooner. The premise could appeal to security teams
By Thomas Drohan Liz Kendall’s warning underscores a critical shift: in the age of AI, organisations must look beyond cybersecurity alone as risks increasingly emerge through trusted processes, people and decisions rather than just systems. In a recent letter to British business leaders, Liz Kendall, Secretary of State for Science Innovation and Technology, highlighted a growing concern: AI is changing the risk landscape faster than many organisations are adapting. As she warned, the risks organisations face in cyberspace are evolving, and familiar approaches are no longer keeping pace. Advanced AI tools are accelerating the discovery and exploitation of weaknesses, allowing threats to move more quickly, scale more broadly and remain concealed within legitimate activity. This is not simply an escalation of traditional cyber threats. It represents a shift in where and how harm occurs which is not through obvious system breaches, but though routine processes such as automated approval workflows, AI-assisted decision-making and the misuse of trusted access by people and systems that appear authorised to act. This might involve an AI-generated email that impersonates a senior executive to approve a payment or an AI tool that is legitimately integrated into operations but trained or prompted in ways that expose sensitive information. For business leaders, this creates a more fundamental challenge than improving technical defences. AI‑enabled threats are no longer contained within the IT or security function; they directly affect the organisation’s resilience, decision‑making and ability to operate with confidence. Put simply, cybersecurity capabilities on their own, even when technically strong, are no longer sufficient to manage AI‑driven risk. Security failures now arise as much from misplaced trust, fragmented ownership and slow institutional response as from unpatched systems. Leaders can therefore no longer afford to treat security as a discrete technical problem or rely on incremental improvements to controls. Addressing
First Apple M5 memory exploit discovered using Anthropic AI, gives root access on MacOS — Claude Mythos helps security researchers bypass Memory Integrity Enforcement AI-assisted security research is producing exploits at a frightening rate. Thanks to AI-assisted security research, hackers with hats of various colors are finding exploits everywhere. Linux has had its worst week in years with the CopyFail and Dirty Frag root-gaining vulnerabilities, and things aren't much rosier at Microsoft, thanks to the YellowKey BitLocker bypass, as well as GreenPlasma and RedSun privilege-gaining exploits. Now, it's Apple's turn with a local privilege escalation that gets past the M5 chips' much-vaunted Memory Integrity Enforcement (MIE). There aren't many technical details, but the vulnerability is simple in practice: run a command as a standard user and gain root (administrator) access to the machine. Macs are rarely servers, so the practical impact is limited. However, the exploit remains concerning, as it's relatively easy to trick a user into running it and, with full system control, also hard to find and remove. The research team in question is named Calif, and as far as they know, the boffins there are the only ones making a public disclosure of this issue. Such assumptions are tricky in this day and age, though. Mercifully for Captain Cook's ship, instead of being a zero-day reveal out of nowhere that left systems administrators scrambling, the exploit in question was disclosed to the company in advance (in person, no less). Calif published the vulnerability overview as part of a series of blog posts called the Month of AI-Discovered Bugs, since this new Apple vulnerability falls within a set of security findings aided by AI tools — in this case, Anthropic's Mythos Preview. The researchers tested their code on an Apple M5 machine and macOS 26.4.1. The exploit chain
Helpdesk social engineering has quietly become the highest-leverage attack against modern enterprises, because the password reset call is the one identity-verification step where MFA is not present and the verifier is a human under throughput pressure, a gap a recent BleepingComputer analysis of password-reset practice examines in depth. The April 2025 Marks and Spencer breach is the worked example: attackers tied to Scattered Spider impersonated an M&S employee to a third-party service desk, secured a fresh credential, extracted the NTDS.dit file from Active Directory, cracked hashes offline, and detonated ransomware that suspended online sales for five days at an average cost of GBP 3.8 million ($5.1 million) per day. Why password reset queues became the path of least resistance Forrester research cited in BleepingComputer’s coverage estimates every reset costs about $70 in helpdesk time, which is why most large enterprises moved to self-service tools. The unintended consequence: the cases that still hit the helpdesk are the edge cases where self-service enrollment failed, the user is locked out of their MFA device, or social engineers picked the script that bypasses self-service. Those are precisely the scenarios where a verifier has to use judgment, which is where impersonation lands. Verizon’s 2024 Data Breach Investigations Report attributes 44.7% of breaches to stolen credentials, and a helpdesk-issued credential counts the same as one harvested via infostealer. What the Marks and Spencer chain reveals about service-desk controls The Marks and Spencer chain ran through routine helpdesk procedure end-to-end: a caller passed knowledge-based questions, the agent acted, valid credentials were issued. There was no MFA bypass; there was no zero-day. The verification step assumed that someone who knows the employee’s identifiers IS the employee, which knowledge-based authentication has not been safe to assume since at least the Equifax era. What the BleepingComputer writeup under-emphasizes is the
Tejasvi Manoj, a 17-year-old from Texas, was named in 2025 as Time magazine Kid of the Year. Her claim to fame? Teaching seniors how to avoid cyber scams. Her reasoning for the task was personal — her grandfather was nearly hit by a scammer who was pretending to be a relative demanding money. Thankfully the grandfather called another relative before he hit that “send” button. This is one brilliant young lady. Not only does she teach cyber security at senior centers, but she developed an online teaching program called Shield Seniors at shieldseniors.com. While the site isn’t fully up and running yet, it’s one we will need to keep an eye on when it does start. Have you heard of TED talks? TED is a platform where the best and the brightest among us give short talks on all types of topics. If you want to see this sharp young lady during her TED talk, go online to y2u.be/v3800D3xHQo. If you want to hear more from her while you’re on YouTube, put her name — Tejasvi Manoj — in the search box. You’ll be impressed. Two years ago there were 860,000 scams reported by seniors and $4.8 billion was lost in one year alone. Why is it scammers come after us? They perceive that we have a lot of money. After all, we’re retired, so we must be rich, right? We didn’t grow up in the tech generations — taught to handle digital devices by the age of 3 and able to easily spot scams. We’re also, to our occasional detriment, too polite and trusting when we talk to others. It makes it all too easy for a scammer to manipulate us on the phone. To learn more about how to avoid scams, go online to the Federal Trade Commission
Contractors Should Prepare as NIST Finalizes Enhanced Security Requirements for Protecting Controlled Unclassified Information On May 13, 2026, the National Institute of Standards and Technology (NIST) finalized a revision to Special Publication (SP) 800-172r3 (Revision 3), Enhanced Security Requirements for Protecting Controlled Unclassified Information (CUI), which provides a selection of recommended cybersecurity controls for protecting CUI resident on a nonfederal information system when associated with a “high value asset” or “critical program.” The revised publication highlights the importance of contractors being able to identify CUI and having plans to implement SP 800-172r3 controls even before the revisions are adopted into the Department of War (DOW) Cybersecurity Maturity Model Certification (CMMC) Program. The SP 800-172 controls are tailored to protect CUI and associated systems that may be the target of “Advanced Persistent Threats” (APTs), which are cybersecurity threat actors generally associated with nation-states such as China, Russia, Iran, or North Korea that NIST assesses have the “expertise and resources” to use cyber, physical and deception capabilities to achieve their objectives. SP 800-172 Revision 3 is intended to supplement controls featured in NIST’s SP 800-171 Revision 3 and SP 800-53: Security and Privacy Controls for Information Systems and Organizations. Alongside SP 800-172 Revision 3, NIST revised the companion assessment publication, SP 800-172Ar3: Assessing Enhanced Security Requirements for Controlled Unclassified Information, to reflect new controls added to SP 800-172r3. This publication provides assessment procedures for organizations to determine how effectively an organization is implementing the security controls outlined in SP 800-172r3. These publications do not immediately apply to contractors; however, agencies have required contractors to meet certain SP 800-172 requirements through terms of contracts, grants, or other agreements. For example, DOW selected certain controls from an earlier version (Revision 2) of SP 800-172 for its CMMC Level 3 requirement. The SP 800-172 Controls
- DISA awards By Light nearly $792 million in cybersecurity contracts - Programs support secure internet access and enterprise threat inspection - The CBII contract adds AI-enabled tools for detecting and mitigating cyberthreats The Defense Information Systems Agency has awarded By Light Professional IT Services two cybersecurity contracts, totaling $791.9 million, to strengthen the Department of War’s enterprise cyber defense and secure internet access capabilities. DISA posted award notices on Tuesday on SAM.gov: a $298.1 million Cloud Based Internet Isolation, or CBII, contract and a separate $493.9 million Full Content Inspection, or FCI, managed service contract. Under the CBII award, By Light will provide enterprise-wide remote browser isolation services using Menlo Security’s Cloud Browser platform to support approximately 3.2 million users throughout the DOW. The cloud-based isolation capability is intended to protect personnel from web-based cyberthreats by separating internet activity from endpoint devices through a secure cloud environment. The follow-on contract renews existing Menlo Security subscription licenses, adds new licenses and integrates Menlo’s Highly Evasive and Adaptive Threats Shield artificial intelligence and machine learning capabilities. DISA’s presolicitation notice stated the procurement was limited to authorized Menlo Security resellers with active Secret facility clearances. How Does the FCI Program Expand DISA’s Cyber Defense Architecture? The larger FCI contract requires enterprise managed services designed to inspect, analyze and mitigate cyberthreats traversing the Defense Information Systems Network, or DISN. According to a redacted justification and approval document, the FCI platform combines legacy intrusion prevention system capabilities with newer technologies, including network detection and response and content disarm and reconstruct. DISA said the managed service enables advanced threat detection, real-time mitigation and predictive cyber analytics across DOW networks while supporting inspection of web, email and DNS traffic crossing DISN boundaries. Why Did DISA Pursue Sole-Source Awards? DISA justified the FCI procurement, arguing that Trinity