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Cyberattacks cost US up to $109 billion in 2016 report

WASHINGTON: Cyberattacks cost the United States between $57 billion and $109 billion in 2016, a White House report said Friday, warning of a "spillover" effect for the broader economy if the situation worsens. A report by the White House Council of Economic Advisers sought to quantify what it called "malicious cyber activity directed at private and public entities" including denial of service attacks, data breaches and theft of intellectual property, and sensitive financial and strategic information. It warned of…

‘Too early’ to say who is behind cyberattacks: Europol

THE HAGUE: The European police agency said Tuesday it was still too early to determine who was behind a massive cyberattack which has caused global computer chaos, as researchers reported signs of a possible North Korean link. "We are open to investigate in all directions, but we don't speculate and we cannot confirm this. It's still too early to say anything," said senior spokesman for Europol, Jan Op Gen Oorth. "We are working on it. The investigation is ongoing," he told a wire service. "It could come from…

World braces for more cyberattacks as work week begins

LONDON: Governments and computer experts girded Monday for a possible worsening of the global cyberattack that has hit more than 150 countries, as Microsoft warned against stockpiling vulnerabilities like the one at the heart of the crisis. European policing and security agencies said the fallout from a ransomware attack that has already crippled more than 200,000 computers around the world could deepen as people return for another work week. The indiscriminate attack began Friday and struck banks, hospitals and…