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Optus hack – which businesses are at the highest risk of hacks?

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A hacker has threatened to release the private information of millions of Optus customers, this includes passports, medicare numbers, drivers licenses and banking information

If you’re one of the millions of Australians affected by the recent Optus data breach, you may be wondering what to do next.

Fortunately, the government has announced that Optus will be footing the bill for anyone who needs to change their driver’s licence number and get a new card.

This process is expected to cost the telco millions of dollars.

In the meantime, if you are concerned about your identity being compromised, experts recommend taking steps to protect yourself such as monitoring your credit report and changing your passwords and identity documents.

Optus has also set up a dedicated hotline for customers who want to know more about the data breach and what it means for them.

The hacker claimed to have accessed Optus customer names, addresses, dates of birth, driver’s licence numbers and credit.

They demanded a $1m ransom in cryptocurrency and threatened to release the data otherwise.

Now, they claim the data has been deleted, but there is no proof of this.

Can the hacker be found?

Susie Jones, Chief Executive at Cynch Security says it can be incredibly difficult to find cybercriminals “which is why it’s such a large market these days unfortunately.”

However, the the actions that they’re taking “certainly does indicate that they’re getting cold feet and certainly becoming a lot more nervous about the attention”.

“So whilst the pessimist cyber CEO hitting me says that they won’t be found. The optimistic Australian certainly hope they will be,” Susie says.

How long do people have to worry about hackers using their stolen ID information?

Good news – It’s not too late.

“The first step that they should be doing is really remaining vigilant and making sure that they’re scrutinising all of their bank accounts, all of their phone records, making sure that they’re really staying on top of what it is that is going on in their accounts and their personal data and personal lives,” Susie says.

“Being very, very careful around scam phone calls and emails. cyber attackers are very good at that now and they will be actively exploiting this opportunity.”

Susie says to make sure that you’re remaining vigilant and stay on top of what the latest scams are, so that you can spot them and delete them straight away.

Optus is in the business of dealing with people’s data and tech as one of Australia’s largest telco’s – what businesses are at the highest risk of ransomeware attacks?

“Businesses of every size, doesn’t matter if you’re a sole trader right up to the likes of Optus, are actively being attacked by cyber criminals every minute of every day.”

“But that’s just a reality. What this does do is raise awareness that personal data that is this is collect, even if it might seem small to yourself, and to the likes of hope this can be incredibly valuable and also from hands can be very, very damaging,” Susie says.

“So for those businesses that are not having to respond directly to this attack, they should be actively reviewing their own processes reviewing what personal information do they collect and store and making sure that they’re keeping it safe.

Money

Stocks rally ahead of Thanksgiving as markets log four days of gains

Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.

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Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.


Markets are moving into the Thanksgiving break with strong momentum, as stocks notch four straight days of gains. The Dow Jones Industrial Average jumped 388 points, while the S&P 500 added 0.9%, pushing both indexes toward their best week since June.

Oracle led major movers, rising more than 4% after Deutsche Bank reaffirmed its bullish outlook on the tech giant. Broad investor optimism continues building across sectors as economic data softens and earnings remain resilient.

All eyes are now on the Federal Reserve and what potential shifts in interest-rate policy may mean for the markets. U.S. markets will close Thursday for the Thanksgiving holiday and reopen Friday for a shortened trading session.

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#Markets #Stocks #Thanksgiving #DowJones #SP500 #Oracle #FederalReserve #FinanceNews


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Dow surges 500 points amid rate cut optimism

Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism

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Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism

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In Short:
– Dow Jones rose 569 points, reflecting optimism for a Federal Reserve interest rate cut.
– Alphabet’s stock increased as Meta may invest in AI chips, but Nvidia’s declined amid market concerns.
The Dow Jones Industrial Average increased by 569 points or 1.2% on Tuesday, reflecting investor optimism for an upcoming Federal Reserve interest rate cut. The S&P 500 and Nasdaq Composite also posted gains, up 0.8% and 0.4% respectively. This represented a recovery from earlier losses, where the S&P 500 briefly fell by 0.7%.Banner

Markets anticipate an 85% chance of a quarter-point rate cut in December, driven by comments from New York Fed President John Williams, who indicated the possibility of lower rates soon. Investor sentiment strengthened following reports that Kevin Hassett may be appointed as the next Fed chair, potentially resulting in a more lenient monetary policy.

Tech Sector

Alphabet saw its stock rise by over 1% after reports indicated that Meta Platforms might invest in its AI chips. This could signal increased demand for AI technology, benefiting the sector overall. However, Nvidia’s stock fell more than 3%, suggesting concerns about its dominance in the AI chip market.

Investors are also wary of the valuation of tech stocks. Despite recent gains, the S&P 500 and Nasdaq remain down over 1% and 3%, respectively, for November, while the Dow has lost more than 1% this month. The broader market’s performance indicates ongoing scrutiny regarding tech valuations amid changing economic expectations.


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Gold prices surge as Central Banks buy big, but risks grow ahead

Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.

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Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.


Gold prices are climbing fast as central banks ramp up buying, pushing demand to its highest levels in years. The metal’s reputation as a safe haven is strengthening, especially amid rising geopolitical tensions and global financial uncertainty.

But experts warn the shine could fade. A stronger US dollar and the possibility of rising interest rates may weigh on momentum, making investors question how long the rally can last.

Dr Steven Enticott from CIA Tax breaks down the drivers behind gold’s surge—from ETF inflows to physical bar demand—and what could send the price sharply higher… or lower.

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#gold #markets #centralbanks #economy #finance #investing #interestRates #usdollar


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