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Germany Issues Fresh Warning to Banks of Cyber Attacks Due to Ukraine War

The logo of Germany's Federal Financial Supervisory Authority BaFin (Bundesanstalt fuer Finanzdienstleistungsaufsicht) is pictured outside an office building of the BaFin in Bonn, Germany, April 15, 2019. (Reuters)
The logo of Germany's Federal Financial Supervisory Authority BaFin (Bundesanstalt fuer Finanzdienstleistungsaufsicht) is pictured outside an office building of the BaFin in Bonn, Germany, April 15, 2019. (Reuters)
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Germany Issues Fresh Warning to Banks of Cyber Attacks Due to Ukraine War

The logo of Germany's Federal Financial Supervisory Authority BaFin (Bundesanstalt fuer Finanzdienstleistungsaufsicht) is pictured outside an office building of the BaFin in Bonn, Germany, April 15, 2019. (Reuters)
The logo of Germany's Federal Financial Supervisory Authority BaFin (Bundesanstalt fuer Finanzdienstleistungsaufsicht) is pictured outside an office building of the BaFin in Bonn, Germany, April 15, 2019. (Reuters)

The German financial regulator BaFin issued a fresh cyber security warning on Tuesday to the nation's financial sector due to the war in Ukraine following a recent increase in cyber attacks.

BaFin has repeatedly warned about cyber attacks but Tuesday's security notice marks an escalation of its concerns.

"In recent days there have been repeated attacks on IT infrastructure," BaFin said.

BaFin said the recent events had especially taken the form of 'distributed denial-of-service (DDoS)' attacks, in which hackers attempt to flood a network with unusually high volumes of data traffic in order to paralyze it.

Russia's invasion of Ukraine, launched on Feb. 24, has caused a serious deterioration in its relations with the West. Moscow denies Western accusations of involvement in cyber attacks.

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Nvidia CEO Says Global Cooperation in Tech will Continue under Trump Administration

Nvidia CEO Jensen Huang poses for a photo after receiving an honorary doctorate in engineering from the Hong Kong University of Science and Technology, in Hong Kong on November 23, 2024. (Photo by Holmes CHAN / AFP)
Nvidia CEO Jensen Huang poses for a photo after receiving an honorary doctorate in engineering from the Hong Kong University of Science and Technology, in Hong Kong on November 23, 2024. (Photo by Holmes CHAN / AFP)
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Nvidia CEO Says Global Cooperation in Tech will Continue under Trump Administration

Nvidia CEO Jensen Huang poses for a photo after receiving an honorary doctorate in engineering from the Hong Kong University of Science and Technology, in Hong Kong on November 23, 2024. (Photo by Holmes CHAN / AFP)
Nvidia CEO Jensen Huang poses for a photo after receiving an honorary doctorate in engineering from the Hong Kong University of Science and Technology, in Hong Kong on November 23, 2024. (Photo by Holmes CHAN / AFP)

Nvidia CEO Jensen Huang said on Saturday that global cooperation in technology will continue even if the incoming US administration imposes stricter export controls on advanced computing products.
US President-elect Donald Trump, in his first term in office, imposed restrictions on the sale of US technology to China citing national security - a policy continued under President Joe Biden. The curbs forced Nvidia, the world's leading maker of chips used for artificial intelligence applications, to change its product lineup in China.
"Open science in global collaboration, cooperation across math and science has been around for a very long time. It is the foundation of social advancement and scientific advancement," Huang told media during a visit to Hong Kong.
Cooperation is "going to continue. I don't know what's going to happen in the new administration, but whatever happens, we'll balance simultaneously compliance with laws and policies, continue to advance our technology and support and serve customers all over the world."
The head of the world's most valuable company was speaking in the financial hub after receiving an honorary doctorate in engineering from the Hong Kong University of Science and Technology, Reuters reported.
During the visit, Huang participated in a fireside chat with the university's Council Chairman Harry Sham in front of an audience of students and academics.
Asked about the huge energy requirements of graphics processing units - chips behind artificial intelligence - Huang said, "If the world uses more energy to power the AI factories of the world, we are a better world when that happens".
Huang said "the goal of AI is not for training, the goal of AI is for inference". He said AI can discover, for instance, new ways to store carbon dioxide in reservoirs, new wind turbine designs and new materials for storing electricity.
He said people should start thinking about placing AI supercomputers slightly off the power grid and let them use sustainable energy and in places away from populations.
"My hopes and dreams is that in the end, what we all see is that using energy for intelligence is the best use of energy we can imagine," Huang said.
Earlier on Saturday, Huang told graduates that "the age of AI has started" in a speech after receiving the honorary degree.
"A new computing era that will impact every industry and every field of science."