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Lanka faced rising threats of financial phishing attacks in 2024

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Sri Lanka is increasingly vulnerable to cyberattacks targeting businesses’ financial transactions, with 9,218 incidents of financial phishing detected in 2024 alone, according to the latest Kaspersky Security Bulletin. This figure highlights the growing sophistication of cybercriminals who are targeting businesses with deceptive online tactics designed to steal sensitive financial information.

Financial phishing attacks, which involve fraudulent notifications designed to impersonate legitimate financial institutions, have become a major concern for businesses worldwide. These attacks trick individuals and organizations into revealing critical credentials such as banking login details, credit card numbers, and payment information. Cybercriminals use malicious links or attachments to lure victims into falling for their schemes, often causing severe financial and reputational damage.

Sam Yan, Head of Sales for Asia Emerging Countries at Kaspersky. commented on the rising threat: “Financial phishing attacks in Sri Lanka is a clear signal that cybercriminals are becoming more sophisticated. As businesses digitize their financial transactions, they must recognize the risks associated with phishing and other cyber threats. It is crucial that they adopt a multi-layered approach to cybersecurity to protect sensitive data.

He added, “Organizations across Sri Lanka must prioritize cybersecurity as a business imperative. Phishing attacks are among the most prevalent threats today, and they can have far-reaching consequences if not addressed. Businesses should take immediate steps to implement effective anti-phishing technologies and ensure that their employees are well-trained to recognize and avoid such attacks.”

Kaspersky’s report highlights that financial phishing, particularly in the business-to-business (B2B) sector, is on the rise. Sri Lanka has reported a significant number of phishing attacks aimed at B2B financial notifications, with 9,218 incidents detected in 2024. This places Sri Lanka in a critical position, urging businesses to adopt stronger cybersecurity practices.

To counteract this growing threat, Kaspersky recommends that businesses and financial institutions in Sri Lanka implement a series of proactive security measures: Deploy anti-phishing technologies to detect and block malicious communications in real-time. Invest in employee training to raise awareness about phishing tactics and how to spot suspicious activities. Implement multi-factor authentication (MFA) to add an extra layer of protection to sensitive financial transactions.



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2024 Grade 5 Scholarship Examination cut-off marks released

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The cut-off marks for the admission of students to Grade 06 of the schools based on the results of the 2024 Grade 5 Scholarship Examination have been released by the Ministry of Education and can be viewed by clicking on the following link.

https://g6application.moe.gov.lk/

 

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President focuses on streamlining, integrating and developing the manufacturing sector for greater efficiency

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A meeting between President Anura Kumara Disanayake and officials of the Ministry of Industry and Entrepreneurship Development was held today (14) at the Presidential Secretariat.

Discussions focused on enhancing the efficiency, integration and development of the manufacturing sector to strengthen the national economy, as well as addressing the challenges associated with these efforts.

Key topics included government-led initial investments and proper regulation to empower small and medium-scale entrepreneurs, the establishment of local small-scale industries within investment zones and challenges related to business loans faced by small and medium-scale enterprises.

The President directed officials to expedite the release of lands allocated to the Ministry of Industry that have not been released so far.

Further discussions were held on maintaining and regulating import restrictions to strengthen local industries, prioritizing local suppliers in construction industry procurement and resolving issues in the gem and jewellery sector to ensure its full contribution to the national economy.

The President also instructed officials to swiftly implement tax exemptions for tourists to boost the gem and jewelry industry.

Minister of Industry and Entrepreneurship Development Sunil Handunnetti, Deputy Minister of Industry and Entrepreneurship Development Chathuranga Abeysinghe, Secretary to the President Dr. Nandika Sanath Kumanayake, Secretary to the Ministry of Industry and Entrepreneurship Development Thilaka Jayasundara and several other ministry officials attended the meeting.

[PMD]

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Massive TN fishing fleet poaching in SL waters: Only India’s Central Govt. can halt it – Minister Chandrasekar

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Minister Chandrasekar

By Shamindra Ferdinando

Fisheries, Aquatic and Ocean Resources Minister Ramalingam Chandrasekar yesterday (13) emphasised that only the Central Government of India could prevent the Tamil Nadu fishing fleet from poaching in Sri Lankan waters.

The Minister said that the Central Government of India in consultation with Tamil Nadu should without further delay deploy the Indian Navy and Coast Guard to prevent large-scale organised crossing of the Indo-Lanka maritime boundary.

The JVPer said so when The Island asked him what he intended to do to curb poaching and the destructive fishing practice known as bottom trawling practised by the Tamil Nadu fishing fleet in our waters. “Our Navy and Coast Guard regularly conduct operations in the northern waters to deter the TN fishing fleet. But only India got the wherewithal to stop this menace,” Chandrasekar said.

Responding to another query, the lawmaker stressed that the NPP government would not hesitate to take a firm stand on the issue. “We believe that India should prevent TN fishing fleet from crossing the maritime boundary,” Minister Chandrasekar said, adding that during his interactions with relevant Indian authorities and diplomatic staff, including High Commissioner Santosh Jha, he had taken up the issue.

The Minister said that he had explained the difficulties experienced by the northern fishing community due to the Indian fishers stealing their catch, when Charles Callanan, Director, UNOPS South Asia paid a courtesy call on him recently. They may not intervene or comment on this matter but there was no harm in briefing them of the actual situation on the northern seas, the Minister said.

The people of the northern and eastern regions, too, overwhelmingly voted for the NPP, the lawmaker said, adding that therefore the problems faced by the northern and eastern fishers should be addressed.

Minister Chandrasekar said that President Anura Kumara Dissanayake had, during his three-day official visit to New Delhi in January, raised the issue at the highest level.

Asked whether he was aware of the protests that had been directed at Tamil National Alliance (TNA) leader S. Sritharan, MP, over his recent visit to see Tamil Nadu fishermen held at the Jaffna prison, Minister Chandrasekar said an NPP lawmaker too visited them. “We never sought media coverage for our visit to Jaffna prison,” Minister Chandrasekar said, adding that the government was determined to push for tangible solutions for recurring issues.

Acknowledging that various interested parties both here and in India sought political mileage at the expense of poaching by the Tamil Nadu fishing fleet, Minister Chandrasekar said that Sri Lanka had no option but to continue naval operations to deter encroachments.

Quoting northern fishers, Minister Chandrasekar alleged that at the rate Tamil Nadu fishing fleet stole Sri Lanka’s fisheries resources nothing would remain in 15 to 20 years’ time. The minister appreciated the efforts made by the navy to protect the interests of Sri Lankan fishermen.

Tamil Nadu poaching can be an issue at the forthcoming Local Government polls. There had been several incidents involving the navy and Tamil Nadu fishing vessels during the past couple of years. One incident claimed the life of a Special Boat Squadron man while two Indian fishers were shot and wounded in another. The second incident prompted India to summon Sri Lanka’s Acting HC in New Delhi to the Foreign Office where a warning was issued over the incident.

Minister Chandrasekar said that India should take meaningful measures to stop illegal fishing, thereby avoiding unnecessary incidents. The minister acknowledged that in spite of quite a number of arrests over the years, the Tamil Nadu fishing fleet seemed bent on continuing with the lucrative practice.

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