The Federal Reserve has launched a sophisticated AI-driven tool called the ScamClassifier model, aiming to bolster the fight against financial fraud. This new initiative is designed to enhance scam reporting, detection, and mitigation within the payments industry.

The manufacturing sector saw a significant rise in ransomware attacks in 2023, with two-thirds of organizations affected.

Brad Smith, Microsoft's President and Vice Chair, vows to fully address security failures outlined in a March Cyber Safety Review Board report during his April 12, 2023 testimony at the Semafor World Economic Summit in Washington D.C. He acknowledges Microsoft's pivotal role in global cybersecurity, operating data centers in 32 countries and collaborating closely with the U.S. government and allies.

Organizations are struggling to detect increasingly sophisticated breaches, with over one-third reporting their security tools fail to identify breaches, according to Gigamon.

Security firm Kaspersky warns that 45% of passwords can be cracked within a minute using brute force or smart guessing attacks. Analyzing 193 million English passwords from the darknet, Kaspersky found 87 million could be broken within 60 seconds. Another 14% could be cracked in under an hour, while only 23% could last over a year.

Australian rare earth mining company Northern Minerals reported that cybercriminals stole sensitive corporate secrets from its systems shortly after the government forced several Chinese investors to divest their shares.

Hackers are attempting to sell what they claim are the bank account details of 30 million Santander customers for $2 million.