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North Korea’s Ballistic Missile Launch Unsuccessful, says Pentagon

North Korea tried to launch an intermediate-range ballistic missile Saturday, but the effort failed

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People at a train station in Seoul, South Korea, watch a TV news report on a North Korea missile launch, Sept. 5, 2016. The Pentagon said a failed launch was detected early Saturday local time in northwestern North Korea. Share. VOA
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October 16, 2016: South Korea has strongly condemned North Korea’s latest missile launch attempt. The South Korean Joint Chiefs of Staff said in a statement Sunday the launch was “a clear violation of U.N. Security Council resolutions” and an “illegal act of provocation.”

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Earlier, the U.S. military reported that North Korea tried to launch an intermediate-range ballistic missile Saturday, but the effort failed.

The U.S. Strategic Command said its monitoring systems detected the launch attempt at midday Saturday in northwestern North Korea (at 0333 UTC Saturday / 2333 EDT Friday), and NORAD, the North American Aerospace Defense Command, said analysts determined the missile did not pose any threat to North America.

Officials in Washington, however, stressed the United States’ continuing vigilance “in the face of North Korean provocations,” and the nation’s “iron-clad” commitment to working together with U.S. allies South Korea and Japan to maintain security in northeast Asia.

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U.S. military officials said the North Korean missile was presumed to be a Musadan intermediate-range rocket, and its launch point was near the city of Kusŏng.

“We strongly condemn this and North Korea’s other recent missile tests,” said U.S. Navy Commander Gary Ross, a Pentagon spokesman. “We intend to raise our concerns at the U.N. to bolster international resolve in holding the DPRK accountable for these actions.”

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In addition to already conducting an unprecedented two nuclear tests this year, Pyongyang has advanced its land-based and submarine-based ballistic missile capabilities with numerous launches in the last six months. (VOA)

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Cybercrimes cost businesses $600 billion globally: McAfee report

Cybercrime losses are greater in richer countries; however, the countries with the greatest losses are mid-tier nations that are digitised but not yet fully capable of cybersecurity, the report noted.

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Russia, North Korea and Iran are the most active in hacking financial institutions, while China is the most active in cyber espionage.
Russia, North Korea and Iran are the most active in hacking financial institutions, while China is the most active in cyber espionage. Wikimedia Commons

Cybercrimes have cost businesses close to $600 billion globally — or 0.8% the global GDP — which is up from $445 billion reported three years back, a report said on Thursday.

The report by the global cybersecurity firm McAfee, prepared along with the Centre for Strategic and International Studies (CSIS), said that over the last three years, cybercriminals have quickly adopted new technologies to ease the process of engaging in cybercrimes.

“Ransomware-as-a-Service Cloud providers efficiently scale attacks to target millions of systems, and attacks are automated to require minimal human involvement,” Steve Grobman, Chief Technology Officer for McAfee, said in a statement.

Also Read: Indian companies more prone to cyber attacks

“Add to these factors cryptocurrencies that ease rapid monetisation, while minimising the risk of arrest, and you must conclude that the $600 billion cybercrime figure reflects the extent to which our technological accomplishments have transformed the criminal economy as dramatically as they have every other portion of our economy,” he added.
The report, titled “Economic Impact of Cybercrime — No Slowing Down”, said that banks remain the favourite target for cybercriminals.

McAfee, Inc. is an American global computer security software company.
McAfee, Inc. is an American global computer security software company. Wikimedia Commons

Russia, North Korea and Iran are the most active in hacking financial institutions, while China is the most active in cyber espionage.

“Our research bore out the fact that Russia is the leader in cybercrime, reflecting the skill of its hacker community and its disdain for Western law enforcement,” said James Lewis, Senior Vice President at CSIS.

“North Korea is second in line, as the nation uses cryptocurrency theft to help fund its regime, and we’re now seeing an expanding number of cybercrime centres, including not only North Korea but also Brazil, India and Vietnam,” Lewis added.

Cybercrime losses are greater in richer countries; however, the countries with the greatest losses are mid-tier nations that are digitised but not yet fully capable of cybersecurity, the report noted. (IANS)