Global ransomware attack could leave $166bn ‘insurance gap’

Businesses around the world could be exposed to losses totalling $166 billion in the event of a major ransomware attack, and the cost to insurers of paying out on claims covered by cyber insurance policies could exceed what the total value of the premiums they collect from those policyholders, according to a new report.

US again demands North Korea offer full disclosure on nukes, risking angering Pyongyang even as Trump hails ‘progress’

The US special envoy for North Korea laid out an extensive list of demands for North Korean denuclearisation on Thursday that is likely to anger Pyongyang, even as President Donald Trump said the date and place for a second summit was set and hailed “tremendous progress” in his dealings with the country.
In a speech at Stanford University in Palo Alto, California, envoy Stephen Biegun called for North Korea to declare all its nuclear and missile programmes and warned that Washington…

Chinese students at a US university were told to speak English. Simple racism, or something more?

The now notorious incident in which Duke University biostatistics graduate students from China were told by their programme director that they should speak English “100 per cent of the time” while on departmental premises deservedly attracted condemnation in the United States higher-education community, and among Chinese in the US and China. As a professor of ethnic Chinese origin myself (I am Singaporean) with 35 years’ experience teaching at the University of Michigan…

Nine killed, 20 injured after militants attack Pakistan police station with grenades and guns in Balochistan, the country’s poorest region

A shoot-out between police and armed gunmen killed nine people and injured 20 others in southwestern Pakistan on Tuesday, said police.
The firefight occurred after three gunmen entered police offices in the province of Balochistan, Loralai district, and threw hand grenades.
“Senior police officials were busy selecting candidates for different categories of civilian jobs when these terrorists entered the compound and hurled hand grenades,” said Balochistan police chief Mohsin Butt….

Bangladesh to sue Manila bank over US$81 million cyber heist

Bangladesh will file a lawsuit in a court in the United States on Wednesday against a Philippine bank over its role in one of the world’s biggest cyber heists, said the governor of Bangladesh’s central bank.
In February 2016, unknown perpetrators used fraudulent orders on the SWIFT payments system to steal US$81 million from the Bangladesh central bank account at the Federal Reserve Bank of New York.
The money was sent to accounts at the Manila-based Rizal Commercial Banking Corp (…

As Muslims vote on self-rule in Philippines, Duterte’s legacy is in God’s hands

More than two million Filipinos flocked to polling stations this month in a historic referendum that will determine the future of the southern Philippine island of Mindanao. Residents of Muslim-majority regions are deciding on the establishment and precise composition of the so-called “Bangsamoro” (nation of Moros). As the first Filipino president from Mindanao, Rodrigo Duterte has staked his political legacy on the successful establishment of the new political entity….