Cyber Security breach at Australian Securities and Investments Commission (ASIC)

The Australian Securities and Investments Commission (ASIC) reported a cyber security breach related to its use of a file sharing software.

The Australian regulator in a notification said: “This incident is related to Accellion software used by ASIC to transfer files and attachments. It involved unauthorised access to a server which contained documents associated with recent Australian credit licence applications.”

While the investigation is ongoing, it appears that there is “some risk” that some limited information may have been viewed by the threat actor. At this time ASIC has not seen evidence that any Australian credit licence application forms or any attachments were opened or downloaded, it added. ASIC’s IT team and cyber security advisers engaged by ASIC are undertaking a detailed forensic investigation.

Interestingly the Accellion file sharing software was recently at the centre of a similar incident at the Reserve Bank of New Zealand. As a precaution, and to protect information and systems, ASIC has disabled access to the affected server. The regulator is working on alternative arrangements for submitting credit application attachments which will be implemented shortly. No other ASIC technology infrastructure has been impacted or breached, it pointed out.

Meanwhile, relevant agencies and those impacted have been notified, it said.

Recently, the SUNBURST malware attacks against SolarWinds have heightened companies’ concerns about the risk to their digital environments. Malware installed during software updates in March 2020 had allowed advanced attackers to gain unauthorized access to files that may include customer data and intellectual property.

Matt Gyde, President and CEO, Security Division at NTT Limited had recently said that threat actors have exploited disruption during the COVID-19 crisis to launch an accelerated wave of cyberattacks around the world. The SolarWinds incidents were orchestrated by sophisticated operators and exploit the broad distribution of commonly-used software packages, he said.

Lincode partners with Global Automotive Alliance

Lincode has entered into partnership with Global Automotive Alliance, Switzerland to form an ecosystem that promotes and empowers Smart  Automotive Manufacturing.

The automotive industry is witnessing a bullish trend in adopting smart manufacturing. The industry is making large investments in smart technologies such as AI, Industrial IoT, Automation, Big data, 5G, amongst others, to streamline and scale-up the automotive manufacturing process for higher efficiency and production capacity.

By the end of 2022, automotive manufacturers expect that 24% of their plants will be smart factories and 49% of automakers have already invested more than $250 million in smart factories. However, few automotive manufacturers have translated this enthusiasm into real progress – 42% of smart factory initiatives are struggling and the digital maturity of their manufacturing operations is below par.

The Indian automotive sector has seen growth in its sales and increased adoption of critical manufacturing technologies is an important driving factor. It has led to delivering a best-in-class quality of products that are made available to the market in tandem with the demand due to better production capacity.

Rajesh Iyengar, CEO, Lincode said: “The automotive industry has shown an impressive adoption of manufacturing technologies. The manufacturers are not hesitant to deploy technology or a solution that they know will bring them high ROI. For instance, our AI-backed visual inspection solution has made the inspection of the production lines much more efficient than the traditional vision systems. The manufacturers have seen a drastic difference with our solution. They see that microscopic surface defects were detected with the highest precision and accuracy within the established time cycles and now we have seen an ever-growing demand amongst the automotive manufacturers. I certainly believe the industry is now more than ready to invest in manufacturing technologies. The future of smart automotive manufacturing is very promising.”

Ralf Mueller, Managing Director, Global Automotive Alliance: “Digitalization and continuing pressure in the automotive industry with regards to quality, efficiency, and product/process-optimization are a daily challenge to OEMs, System Suppliers, and component manufacturers. All players along the supply chain are aware of the necessity to identify suitable smart manufacturing (industry 4.0) tools, however, in many cases the global overview, in-house knowledge, experiences, and internal resources are limited to successfully scout, develop & implement tailored solutions in the own facilities. This is why GAA has selected a group of unique smart manufacturing (industry 4.0) innovation providers that can be accessed by the automotive industry as part of the “GAA Smart Manufacturing Toolbox. Lincode, as a smart manufacturing solution provider, offering a unique Visual Inspection Technology with Computer Vision and Artificial Intelligence was chosen by the GAA specialists to cover the visual inspection tasks & challenges of the industry.”

You can glean more insights on IoT, smart manufacturing and such tech during W.Media’s Digital Week 2021, from February 23-26. https://w.media/digital-events/

Cognizant to acquire Servian, an Australian data and analytics consulting firm

Cognizant will acquire Servian, a Sydney-based, private enterprise transformation consultancy specializing in data analytics, artificial intelligence, digital services, experience design and cloud.

Servian is Cognizant’s 10th digital-focused acquisition announced since January 2020, showing Cognizant’s strategy to accelerate capabilities and growth in priority areas of data and artificial intelligence, digital engineering, cloud, and Internet of Things across the globe, the company said.  Financial details of the transaction were not disclosed.

Cognizant expects the acquisition of Servian to expand its integrated, end-to-end digital transformation capabilities in Australia and New Zealand (ANZ) to help clients move to the cloud, build digital products and services, unlock value from data, modernize enterprise applications, and achieve operational efficiency.

“Enterprises in Australia and New Zealand are at an inflexion point in their digital adoption,” said Jane Livesey, CEO, Cognizant Australia and New Zealand. “Cognizant’s extensive digital expertise combined with Servian’s strengths as the premier technology partner in the region will open up the full power of digital transformation for our Australasian clients. We look forward to welcoming Servian’s talented digital-native professionals to Cognizant.”

“Enabling clients to leverage their data assets for accelerating business transformation and driving competitive advantage is at the heart of our success,” said Tony Nicol, Founder and CEO, Servian. “We share Cognizant’s passion for innovation powered by digital technologies. With Cognizant’s deep industry expertise and global scale, we will be able to apply our strengths in strategic advisory, engineering delivery, and managed services across an even broader spectrum of challenges and opportunities presented by the digital economy.”

The transaction is expected to close in the first quarter of 2021, subject to regulatory clearance and other closing conditions.