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Another ‘highly likely’-style accusation: Moscow brushes aside ‘evidence-free’ Georgia cyberattack

The US and its allies have claimed Russia’s military intelligence defaced Georgian websites with an image of the country’s former president. Moscow says the accusation is not backed by any evidence and is just a PR stunt.
In late October last year, Georgia suffered what was described as the largest cyberattack in its history. Over 15,000 web pages – including those of government agencies, newspapers and banks – were defaced and later became inaccessible. The original content was replaced with a photo of former Georgian president Mikhail Saakashvili, currently a fugitive from justice, with the words “I’ll be back” above his head.
Many in Georgia immediately blamed the attack on Russia, and lo and behold, more than three months later the accusation is official. The Georgian foreign ministry claimed the GRU, Russia’s military intelligence agency, was behind it, citing its investigation and information from “foreign partners.” The partners soon piled on Russia, with the charges repeated by the US, the UK, Canada, and some others.
Notably, Russia’s accusers were tight-lipped on what evidence they had to support their claims. Neither technical details of the attack nor even a brief explanation of the investigation process were provided. The Russian foreign ministry pointed to this fact as it brushed aside the accusation.
“The lack of evidence and political motivation behind this orchestrated information attack are impossible to miss,” it said in a statement. “It took almost four months to attempt to scapegoat Russia for the incident that happened on October 28 last year. All the charges are along the lines of the notorious ‘highly likely’ approach,” they concluded, referring to the line used by former UK Prime Minister Theresa May when accusing Russia following the poisoning of Sergei Skripal in 2018.
In the absence of actual proof, people with a record of accusing Russia of various nefarious cyber deeds resorted to speculation. Georgia is “in their neighborhood,” said Adam Meyers from the security firm CrowdStrike. “It's in line with Russian tactics. The specific outcome is less important than causing upheaval and conflict between different groups in the country”.
CrowdStrike is most famous as the source of the claim that Russia hacked the servers of the DNC during the 2016 presidential race. It was tasked with investigating the situation and was trusted so much by the Obama administration that the FBI didn’t deem it necessary to double-check their assessment.
Washington and its friends said the culprit was the GRU’s Unit 74455, which first entered the global spotlight in 2018 after the US Department of Justice indicted three of its presumed employees with hacking the DNC. Other sins pinned on the unit include unleashing the ransomware NotPetya and its derivative Bad Rabbit in 2017. Like an earlier extortion virus WannaCry, this malware is believed to be based on cyber-warfare tools, belonging to the US National Security Agency, which was leaked a year earlier. The outbreaks affected computers running an unpatched version of Windows. Among their victims were Russian oil giant Rosneft, metal-maker Evraz and the Russian Central Bank.
source: Reuters
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BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
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