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Riyadh cuts ties with Iran following embassy attacks

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Riyadh: Saudi Arabia’s foreign minister Adel al-Jubeir announced to cut diplomatic ties with Iran and asked all Iranian diplomats to leave within 48 hours, local media reported.

The minister said he informed the UN Security Council of the attack on the Saudi diplomatic mission in Iran late Saturday, adding that those Saudi diplomats reached Dubai, the UAE, safely. He accused the Iranian authorities of not taking any measure to prevent the attacks against the embassy in Tehran and the consulate in the Iranian city of Mashhad.

On Saturday, enraged Iranian protesters stormed the Saudi diplomat mission against the Saudi execution of 47 individuals over terrorism charges, including a Saudi Shia cleric, Namir Al Namir, a member of Saudi Shia community.

The minister said while referring to the Iranians’ previous attacks on the US and British embassies that the attacks were a violation to the international agreements. He also accused Iran of providing protection for Al-Qaeda through weapon trafficking.

The relationship between the middle eastern countries is filled with tension. Both countries are the follower of the different set of ideologies in Islam, Iran a Shia country and Saudi Arabia is the leader of the Sunni world.

This tension might lead to more unrest in the already troubled middle east.

(IANS)

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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)

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