Potential global cyber attack could cause $85 billion-$193 billion worth of damage: report

(Reuters) - A co-ordinated global cyber attack, spread through malicious email, could cause economic damages anywhere between $85 billion and $193 billion, a hypothetical scenario developed as a stress test for risk management showed.

Insurance claims after such an attack would range from business interruption and cyber extortion to incident response costs, the report jointly produced by insurance market Lloyd’s of London and Aon said on Tuesday.

Total claims paid by the insurance sector in this scenario is estimated to be between $10 billion and $27 billion, based on policy limits ranging from $500,000 to $200 million.

South Africa is most spammed country in Africa

Truecaller has released findings from its Truecaller Insights report, a look into the top 20 countries affected by spam calls in 2018. Nuisance and unsolicited calls are on the rise around the globe, with Truecaller Insights report revealing that within large markets such as South Africa, Brazil, and India, the average Truecaller user receives more than 22 spam calls each month.

South Africans are not far behind and are some of the most spammed in the world, the insights study has revealed that the 5.3 million Truecaller app users receive a total of 21 spam calls monthly. This puts South Africa as the fourth most-spammed country, a staggering 71.4% increase in spam compared to findings from last year.

Dark web criminals 'forced' bank worker to embezzle

A bank worker has avoided jail after claiming he was forced by "dark web" criminals to embezzle £75,000 from his employer.

Dayne Lynn said he fell prey to unknown individuals after becoming curious about the online underworld after watching a TV show.

The 22-year-old claimed he was ordered to swindle from two accounts and transfer cash to a mystery crime gang.