Kevin Mounts

RAANANA, Israel (Reuters) - Israeli defense Electronics Company Elbit Systems forecasts double-digit growth for its Cyberbit business , which is transforming the technology it has long provided for military intelligence to the fast-growing commercial market. Cyberbit took shape after Elbit's $150 million acquisition of the cyber and intelligence unit of Israel's Nice Systems in 2015, blending Nice's technology designed for law enforcement and intelligence agencies with Elbit's military-focused capabilities. Today Cyberbit operates as two companies - one focused on government security and intelligence and subject to Israeli export restrictions, the other catering for the commercial market, mainly financial firms and utilities. Both are headed by Cyberbit Chief Executive Adi Dar. Elbit CEO Bezhalel Machlis described cyber as a major growth engine for the company, which is Israel's largest listed defense company group with revenue of $3.3 billion in 2016. Its ...

'There are minimal overheads and profits can be limitless' Cybercriminals are increasingly targeting UK workers files and data, and the Metropolitan Police have warned that “no one is safe”. The FBI, Metropolitan Police, and security experts all agree that cyber ransoming has fast become one of UK’s biggest economic crimes. Unpredictable, unstoppable and potentially fatal to a business, the rapid emergence of ransomware has become a threat to people across the nation. August Graham, the editor of the Sentinel, arrived at work one morning last summer to find a note pop up on one of the computer screens. It informed him that all the files on the firm’s server had been encrypted and were being held ransom. He was told he had to pay £500 to get them back, or they'd be destroyed. Last year, 54 per cent of businesses in the UK were hit by ransomware attacks, according to a survey by Osterman Research on behalf of Malwarebytes. In 20 per cent of the cases...