Cybercrime wave sweeps Canada with 12 billion attacks in first half of 2025
security
firm
Fortinet
reporting more than 12 billion malicious attempts in just the first six months of 2025.
From its Burnaby campus, one of Fortinet's largest global hubs, hundreds of cybersecurity analysts work around the clock to track, block, and investigate threats. The company says cybercriminals are evolving rapidly, and in many cases, they no longer even need to write their code.
Finance
Value and Valuation Masterclass - Batch 4
By CA Himanshu Jain
View Program
Artificial Intelligence
AI For Business Professionals Batch 2
By Ansh Mehra
View Program
Finance
Value and Valuation Masterclass - Batch 3
By CA Himanshu Jain
View Program
Artificial Intelligence
AI For Business Professionals
By Vaibhav Sisinity
View Program
Finance
Value and Valuation Masterclass - Batch 2
By CA Himanshu Jain
View Program
Finance
Value and Valuation Masterclass Batch-1
By CA Himanshu Jain
View Program
'We're on the dark web every day, we're threat-hunting, we're creating those protections,' said Derek Manky, Fortinet's chief security strategist, in an interaction with CTVNews. 'The business model now is crime-as-a-service, and it's making criminals faster and more sophisticated.'
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Play War Thunder now for free
War Thunder
Play Now
Undo
The crime-as-a-service model would allow hackers to buy ready-made
ransomware
or
data theft
tools online, enabling attacks at scale. Manufacturers have been the top targets so far this year, followed closely by health-care providers and critical infrastructure sectors once considered off-limits by many hackers.
'When you have more affiliates working for you, everyone has a different mentality,' Manky said. 'The ethics start to go out the window, and it becomes more competitive.'
Live Events
AI on the frontlines
The flood of attacks has left cybersecurity teams drowning in alerts. Fortinet says artificial intelligence is now essential for triaging threats, automating routine work, and flagging the most urgent cases.
'It's avoiding analyst burnout and allowing cybersecurity professionals to get new skills and embrace the technology,' Manky said.
The company's latest threat report also highlights a spike in automated scans targeting industrial control systems and Internet-of-Things devices, along with a surge in stolen credentials being sold on underground forums.
Founded in 2000, Fortinet's Burnaby facility now serves as a research, product development, and training hub, linking more than 500 threat researchers worldwide. Collectively, they analyze millions of events every minute, blocking the vast majority before they ever reach their intended targets.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
26 minutes ago
- Time of India
Annual FASTag pass of Rs 3,000 for private vehicles goes live from Friday
The annual highway toll pass of Rs 3,000 for private cars, jeeps, and vans will be rolled out from Friday. Independence Day 2025 Before Trump, British used tariffs to kill Indian textile Bank of Azad Hind: When Netaji gave India its own currency Swadeshi 2.0: India is no longer just a market, it's a maker Ahead of the roll out, the government has opened the pre-booking window for FASTag-based annual passes that allow users to cross up to 200 highway toll booths on a single recharge of Rs 3,000 within a year. A dedicated link for activation of the annual pass is available on the Rajmarg Yatra app . by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Secure Your Child's Future with Strong English Fluency Planet Spark Learn More The link would also be available on the official websites of National Highways Authority of India (NHAI) and the Ministry of Road Transport and Highways ( MoRTH ). The annual pass will be applicable only for non-commercial private vehicles such as cars, jeeps, and vans. It will allow seamless travel across National Highways without the need for repeated recharging of FASTag cards for toll payments. Live Events In closed tolling highways such as Delhi-Mumbai Expressway - where toll collection occurs exclusively at exit points - a single trip includes both entry and exit points. On the other hand, on open tolling routes like Delhi-Chandigarh, each toll plaza crossing would constitute a separate trip. The pass can be recharged again once the 200-trip limit in a year is reached. According to the MoRTH, those who already have a FASTag on their vehicles will not need to purchase a new FASTag. The annual pass will be valid only at National Highway (NH) and National Expressway (NE) fee plazas. At fee plazas on Expressways, State Highways (SH) managed by state governments or local bodies, the FASTag will operate as a regular one, and applicable user fee charges may apply. FASTag - the electronic toll collection system - uses Radio Frequency Identification (RFID) technology to automatically deduct toll charges from a prepaid account linked to the vehicle. Over 10.1 crore FASTags were issued till December 1, 2024, according to the road transport ministry's 2024 year-end review.
Time of India
43 minutes ago
- Time of India
India Exim Bank projects merchandise exports to amount to USD 108.1 bn in Q2 of FY26
New Delhi, Export-Import Bank of India ( India Exim Bank ) forecasts total merchandise exports to amount to USD 108.1 billion, a growth of 4.5 per cent, while non-oil exports are forecast to amount USD 92.1 billion, with a growth of 5.2 per cent, during July-September of FY26. Independence Day 2025 Before Trump, British used tariffs to kill Indian textile Bank of Azad Hind: When Netaji gave India its own currency Swadeshi 2.0: India is no longer just a market, it's a maker Non-oil and non-gems and jewellery exports are forecast to amount USD 82.7 billion, with a year-on-year growth of 2.3 per cent, during the second quarter, India Exim Bank said in a statement. Growth in India's exports could be as a result of base effect, along with expected continued buoyancy in manufacturing activity supported by increased capacity utilisation and congenial financial conditions, favourable prospects of current trade negotiations with several countries, and an expansionary monetary policy in India, it said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Could Be the Best Time to Trade Gold in 5 Years IC Markets Learn More Undo The outlook is, however, subject to risks of higher tariffs and global trade policy uncertainty affecting global demand, rising geo-economic fragmentation and persisting geo-political tensions, it said. Forecast of growth in India's total merchandise exports, non-oil exports, non-gems and jewellery exports are released by Exim Bank on a quarterly basis, during the first fortnight of the months of May, August, November, and February for the corresponding quarters, based on its Export Leading Index (ELI) model, it said. Live Events The next growth forecast for India's exports for the third quarter of FY26 (October-December 2025) would be released during the first fortnight of November 2025, it added.
Time of India
44 minutes ago
- Time of India
Spandana Sphoorty posts Rs 360 crore Q1 loss on bad loan impact
Microfinance company Spandana Sphoorty Financial suffered a consolidated net loss of Rs 360 crore in the first quarter of the fiscal, making it the fourth consecutive quarterly loss, on account of high asset quality stress and drop in business volume as well as income. The lender had earned a consolidated net profit of Rs 56 crore in the year ago period. Thereafter, it reported losses in every quarter. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Its consolidated income fell 59% year-on-year at Rs 304 crore against Rs 734 crore. Provisions to cover bad loans were higher at Rs 422 crore as compared with Rs 209 crore. "The losses for the quarter ended June 30, 2025 were mainly due to significant impairment losses (including technical write offs) arising from credit deterioration of loans to customers," the company said in a stock exchange filing. Live Events It wrote off loans to the tune of Rs 581 crore in the June quarter, contributing to the elevated credit costs. "This will be improved going forward by strengthening on-ground recovery. Accordingly, the Company expects to generate sufficient taxable profits to fully utilize the losses," the company said in a joint statement by chairperson Abanti Mitra and interim chief executive officer Ashish Kumar Damani. The consolidated loss before tax for the June quarter was Rs 481 crore. Spandana recognized a deferred tax asset of Rs 544 crore to the extent it is considered recoverable, based on probable future taxable income supported by revised approved business plans and budgets. The lender's standalone loan book contracted to Rs 3877 crore at the end of June from Rs 5555 crore three months prior to that. Gross non-performing assets ratio was at 4.88% at the end of June as compared with 4.85% three months back. Net NPA remained at 0.96%. The company's consolidated assets under management stood lower at Rs 4958 crore, as compared with Rs 11723 crore a year back. The GNPA for the consolidated balance sheet was 5.49% against 2.60% a year back. Spandana was non-compliant with certain covenants related to portfolio at risk, gross NPA, tangible net worth , and quarterly profitability as of and for the quarter ended June 30. It has obtained waivers in respect of such non-compliant covenants from few of the lenders. "The company has been in constant communication with its lenders and is confident that no demand for immediate repayment of borrowed funds will be made due to non-compliance with the covenants," it said. The company management is of the view that it would be able to realise all its assets and discharge all its liabilities in the normal course of business. "There are no material uncertainties on the company's ability to continue as a going concern," it said. It has a strong capital position, with tier I capital of ₹1,245.53 crores and a capital to risk-weighted assets ratio of 37%. It has successfully raised fresh investment of Rs 200 crore through a partly paid rights issue of shares. The balance Rs 200 crore of the Rs 400-crore rights issue will be realised at a later date.
