Hacking targets were usually those doing research and work on Iran and Russia
Hacking targets were usually those doing research and work on Iran and Russia
Hacking targets were usually those doing research and work on Iran and Russia
Hacking targets were usually those doing research and work on Iran and Russia

‘Ruthless’ Iranian and Russian hackers target UK journalists and politicians


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British cybersecurity officials are warning that hacking groups linked to Russia and Iran are duping people into clicking malicious links.

In an advisory, the National Cyber Security Centre (NCSC), part of Britain's GCHQ eavesdropping intelligence agency, said Russia-based hacking group Cold River researches its targets and impersonates people around them using faked email addresses and social media profiles.

Targets were usually those doing research and work on Iran and Russia, often those working in politics and journalism, the NCSC said.

Once a rapport has been built with a target, Cold River hackers encourage the target to click on a malicious link which tricks them into entering their login credentials on a website controlled by the group, the advisory said.

“These campaigns by threat actors based in Russia and Iran continue to ruthlessly pursue their targets in an attempt to steal online credentials and compromise potentially sensitive systems,” said Paul Chichester, the centre’s director of operations.

“We strongly encourage organisations and individuals to remain vigilant to potential approaches and follow the mitigation advice in the advisory to protect themselves online.”

The centre advised the use of strong passwords, multifactor authentication and email vigilance including disabling mail-forwarding to reduce the risk of being hacked.

A second, Iran-based, group known as Charming Kitten has deployed the same “spear-phishing” techniques to gather information, according to the NCSC.

Iran's mission to the UN in New York said the Iranian government had no knowledge of the group.

Since Russia's invasion of Ukraine, Cold River has escalated its hacking campaign against Kyiv's allies, cybersecurity researchers and western government officials told Reuters.

Western officials say the Russian government is a global leader in hacking and uses cyber-espionage against foreign governments and industries to seek a competitive advantage.

Moscow, however, has consistently denied that it carries out hacking operations.

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Key findings of Jenkins report
  • Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
  • Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
  • Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
  • Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
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UAE currency: the story behind the money in your pockets

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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The biog

Born November 11, 1948
Education: BA, English Language and Literature, Cairo University
Family: Four brothers, seven sisters, two daughters, 42 and 39, two sons, 43 and 35, and 15 grandchildren
Hobbies: Reading and traveling

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Updated: January 26, 2023, 10:19 AM