US to treat growing ransomware incidents as terror attacks

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Washington, June 6 | Taking a tough stand on growing ransomware attacks, the Federal Bureau of Investigation (FBI) and US Justice Department have announced to treat such cyber incidents as terror attacks.

Christopher Wray, Director of the FBI, told The Wall Street Journal that the country is facing a similar challenge like 9/11, and the Bureau has identified about 100 different types of ransomware, several of them being traced to Russia.

“There are a lot of parallels, there’s a lot of importance, and a lot of focus by us on disruption and prevention. There’s a shared responsibility, not just across government agencies but across the private sector and even the average American,” Wray told WSJ on Saturday.

President Joe Biden said last week that his administration was “looking closely” at whether to retaliate against Russia for a recent ransomware attack.

“We’re looking closely at that issue,” Biden told reporters at the White House when asked if the US would retaliate against Russia for the latest ransomware attack.

Major meat producer JBS USA said that it suffered a cyberattack and notified the administration that the ransom demand came from a criminal organisation likely based in Russia.

The latest ransomware attack came weeks after a similar cyberattack targeting Colonial Pipeline, which forced the company to shut down approximately 5,500 miles of fuel pipeline for days.

Senior Justice Department officials were quoted as saying in reports that ransomware attacks would be investigated in a manner similar to terror incidents.

Biden said last month that he would raise the cybercrime issue in talks with his Russian counterpart Vladimir Putin when they meet in Geneva on June 16.

Relations between Washington and Moscow have been adversarial in recent years.

The two sides have obvious differences on issues related to Ukraine, cybersecurity, human rights, and US election interference.

Alarmed at repeated cyber-attacks on the country, Biden last month signed an executive order, implementing new policies to improve national cybersecurity.

Admitting that the US is facing persistent and increasingly sophisticated malicious cyber campaigns that threaten the public sector, the private sector, and ultimately the American people’s security and privacy, Biden said that the government must improve its efforts to identify, deter, protect against, detect, and respond to these actions and actors.

Source: IANS

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Does MBA really help in getting a better job offer ?

Does MBA really help in getting a better job offer ?

Most students pursuing an MBA come with the sole objective of having a decent job offer or a promotion in the existing job soon after completion of the MBA. And most of them take loans to pursue this career dream. According to a recent survey by education portal Campusutra.com  74% MBA 2022-24 aspirants said they would opt for education loans.

There are exceptional cases like those seeking master’s degree or may have a family business to take care of or an entrepreneurial venture in mind. But the exception cases are barely 1%. For the rest 99%, a management degree is a ticket to a dream job through campus placements or leap towards career enhancements. Stakes are high as many of them quit their jobs which essentially means loss of 2 years of income, apprehension and uncertainty of the job market. On top of that, the pressure to pay back the education loans. Hence the returns have to be high. There is more than just the management degree. Colleges need to ensure that they offer quality management education which enables them to be prepared for not just the demands of recruiters and for a decent job but also to sustain and achieve, all along their career path.

  • So, what exactly are the B Schools doing to prepare their students for the job market and make them industry ready ?
  •  Are B schools ready to deliver and prepare the future business leaders to cope up with the disrupted market ?  

These are the two key questions every MBA aspirant needs to ask, check and validate before filling the MBA application forms of management institutes. And worth mentioning that these application forms do not come cheap. An MBA aspirant who may have shortlisted 5 B Schools to apply for, may end up spending Rs 10,000.00 to Rs 15,000.00 just buying MBA / PGDM application forms.

While internship and placements data of some management institutes clearly indicates that recruiters today have specific demands. The skill sets looked for are job centric and industry oriented. MBA schools which have adopted new models of delivery and technology, redesigned their courses, built an effective evaluation process and prepared the students to cope with the dynamic business scenario, have done great with campus placements despite the economic slow down.

However, the skill set being looked for by a consulting company like Deloitte or KPMG may be quite different from FMCG or a manufacturing sector. Institutes need to acknowledge this fact and act accordingly.

  • Management institutes should ensure that students are intellectually engaged, self motivated and adapt to changes fast. In one word ‘VUCA ready’.
  • B Schools should encourage students to participate in national and international competitive events, simulations of business scenarios.
  • Institutes should have the right mix of faculty members with industry exposure and pure academics.

The placement records of 2021 across top management institutes indicated the fact that recruitment is happening, skilled talent is in demand and certain management institutions continued to attract recruiters even in the middle of an ongoing crisis.

It is time, all management institutes rise to the occasion, understand market realities and identify areas of improvement at both ends – students and faculty.

After all, the stakes are high at both ends. B Schools taking corrective measures will stay while those which are lagging will end up shutting down.

Author Name : Nirmalya Pal

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