In a landmark development for the Financial Technologies (FinTech) master study programme at the Kaunas Faculty of Vilnius University, a social partnership agreement was signed with a Singapore-based company. The signing was marked by an important meeting with Jack Vinijtrongjit, the Co-founder and CEO of AAG Ventures on 5 December 2023.

Central to the meeting were discussions on Saakuru’s advanced second-layer blockchain solutions and Oasys blockchain’s role in the gaming industry, highlighting their potential to revolutionize transaction processing with improved scalability, security and efficiency.

The meeting also delved into Web3 and sustainability, examining business cases in personal identity, real estate registration, and agricultural tokenization in the Philippines and Indonesia. These analyses underscored how these technologies could foster sustainable business practices and societal benefits.

An important aspect is that this partnership extends beyond theory to practical application. The graduates of the FinTech study programme are already employed at AAG Ventures, demonstrating the effectiveness of the study programme in preparing students for the global industry challenges.

The upcoming spring semester promises to be exciting for dapp developers in training. Lectures delivered by a new social partner will explore Web3 and blockchain technologies, offering hands-on experience in crypto token application in various business cases and smart contract programming – essential skills in today’s fintech job market.

This collaboration with a Singaporean business not only broadens the international perspective of the study programme, but also provides students with hands-on experience in FinTech innovation. It represents a significant step in aligning academic learning with industry needs, preparing students for the fast-paced and evolving financial technology landscape.

The phrase insider threats is sometimes used in the public domain when talking about cyber security in organisations. But do we often think about what is behind this phrase? Insider threats are people who have or have had access to an organisation's assets or resources and whose actions could cause reputational or financial damage to the organisation. These resources could be sensitive customer data such as health records, sales and purchase transactions or the organisation's intellectual property.

For three years, researchers from the Faculty of Mathematics and Informatics at Vilnius University (VU), together with an international multidisciplinary research team, have been investigating human capabilities and risks at all stages of the cyber kill-chain chain.

Can a dissatisfied employee pose a threat to the company?

The definition of insider threat may seem to refer only to malicious individuals who infiltrate an organisation to gain access to certain secrets, or to angry, vindictive employees who destroy or damage important information or equipment when they leave work. This is probably the place where the images of a famous spy movie come to mind. If we search the media's historical records, we would certainly find such examples in Lithuania, too, without the need for fiction. There are various reasons why people behave as they do.

Does it seem to be just a question of values? Has anyone ever thought of themselves as an internal threat to the organisation? Someone who thinks that he or she is abiding by the existing moral norms that are valid in society and do not take some kind of revenge action that goes beyond the bounds of legality. The definition of an insider threat does not include only current or former employees who are specifically malicious. Some incidents are the result of unintentional actions.

Cyberpsychologist prof. Stefan Sütterlin says: “Even any one of us can at some point be an insider threat to an organisation. A typical example is the unintended leakage of sensitive data that was negligently sent to the wrong recipient. On a different note, a very often underestimated risk factor for insider threats lies in the hand of the organisation itself, and how it reacts to possible cases. Insensitively conducted investigations amongst innocent employees cost trust and loyalty towards the employer, planting the seed of disappointment and detachment.”

How to protect yourself from cybercrime?

Curious about enhancing cybersecurity skills, preventing insider threats, and essential consumer insights on cybersecurity? Join the event on December 6 for the concluding event of the ADVANCES project: “Stronger Together - Collaboration in Building Cyber Resilience” at the Scholarly Communication and Information Centre.

In the conference, we’ll delve into the societal aspect, focusing on individuals targeted in cyber attacks. The agenda features presentations from partners and guests, including a panel discussion on education extending beyond the cybersecurity community. A professor will address the psychological origins of insider threats. The ADVANCES project eagerly welcomes those recognizing that cybersecurity concerns us all, emphasizing the importance of not leaving its challenges solely to professionals.

Please refer to the provided link for event registration and the detailed programme.

Winter season’s celebration is on the way, so let's share the year's achievements and joyful moments, chat and wish each other happy holidays and enjoy traditional dishes and winter drinks!

The Dean of Vilnius University Kaunas Faculty invites

lecturers, students and non-academic staff for tea

Tempus disputandi – Let‘s talk about the holiday season

on Wednesday, 6 December, at 11.15 A.M. – 7.00 P.M.

2nd building, 2nd floor, Grand Lobby outside Prof. Vladas K. Gronskas Auditorium

1st building, 1st floor, Room 19, in front of the Public Relations Group office

At the cyber defence and security innovation hackathon "Fire Shield 2023" organised by the Lithuanian Riflemen’s Union (LRU) and the investment fund "ScaleWolf" in October, the student team “Aggressive Pacifists” representing the Kaunas Faculty of Vilnius University (VU KNF), took second place in the cyber competition "Capture The Flag" (CTF).

The student team “Aggressive Pacifists” of Vilnius University Kaunas Faculty (VU KNF) was formed by Raimundas Mačiulis, Matas Žukauskas, Adrius Čypas and Karolis Petniūnas, the students of the VU KNF bachelor’s degree programme Information Systems and Cyber Security.

The main task of the cyber game CTF (Capture The Flag) is to find 28 flags within 24 hours hidden in a virtual polygon created especially for the hackathon. A total of 50 participants took part in the competition.
“It was a pleasure to participate in the CTF with charismatic and motivated teammates. We hope to participate in the future as well,” said Raimundas Mačiulis, a first-year student of the VU KNF bachelor’s degree programme Information Systems and Cyber Security, who brought together the team for the hackathon.

On 29 November at 11:15 AM in Prof. Vladas Gronskas auditorium, Morgan Wild will give a public lecture on Blockchain and Business. How to create value on the Blockchain? All those interested in blockchain technologies and starting of IT business are welcome to attend.

Morgan Wild is the founder and CEO of Okashi. Okashi is an online smart contract developer playground designed to onboard web developers to blockchain.

In this lecture Morgan Wild will talk about all the ways value can and is being created on the blockchain, as well as some cases of how it may be destroyed. Mr. Wild will also share his journey as a founder of a blockchain company.

Organiser: Prof. Dr. Edmundas Jasinskas

Having returned from the Telia Cyber Battle of Nordic-Baltics 2023, which brought together the best teams from the Nordic and Baltic countries in the city of Tartu on 11-12 November, the Vilnius University Kaunas Faculty team "CTF Team LTU" say they are surprised that Lithuania is still not represented in the European Union CTF standings. Simonas Švabas, Rytis Šertvytis and Karolis Petniūnas, second-year students of the bachelor's degree programme Information Systems and Cyber Security, who participated in the competition last year, and students Rokas Tiškus and Mantas Razbadauskas, who joined the team this year, came 9th. The team was accompanied by cyber security expert, assistant professor Dr Šarūnas Grigaliūnas and coach Lukas Misiukevičius.

Organised for the fourth time this year, the Cyber Battle of Nordic-Baltics is the largest youth ethical hacking event in the Nordic-Baltic region, which aims to improve the knowledge of young people and educational institutions about cyber security. The event is organised by CTF Tech, an Estonian cyber education start-up, and CybExer Technologies, a NATO-accredited Estonian cyber defence company. The competition is organised in cooperation with Telia, the city of Tartu, the University of Tartu and several private sector companies. The aim is to teach the basics of cybersecurity in a practical, realistic and ethical way in order to improve the region's cybersecurity skills and thus make it more stable and secure.

The annual event "River of Souls" organised by the Students' Representation of Vilnius University, Kaunas Faculty (VU SA KnF) will take place in Kaunas for the 22nd time. 

On 1 November, 6 PM, a river of candles will stretch from the fountain of Laisvės alėja (Liberty Boulevard) to the Church of St. Michael the Archangel (Sobor), encouraging people to gather and commemorate All Saints' Day.  "We are so happy that despite of the changing generations of students and the evolution of the faculty, the inspiration to continue the existence of this beautiful event persists," says Erika Monstavičiūtė, one of the coordinators at VU SA KnF. 

For the first time the River of Souls of souls will include live music 

The performers will include Ignas Lapienis, Ela and band members Mantas Barkauskas, Adrija Suchockaitė, Austėja Suchockaitė.  Light-emitting diode (LED) and paraffin candles will be used at the event. Attendees don’t need to bring candles as they will be able to light the candles distributed by the event organisers. 

"We encourage people not to bring their own candles because we want to reduce our impact on the environment by reducing litter. For this reason, we are going to set up candle stands where everyone will be able to take a candle and light it", says Erika Monstavičiūtė. This will provide everyone with the opportunity to contribute to the River of Souls trail. After the event, the organisers and volunteers will collect the candles and store them for next year.  

The organisers are looking for volunteers to contribute to the event. Here is the link to register: https://docs.google.com/forms/d/e/1FAIpQLSexOcZkA6PPD6rgV1RynYujphnt0PhIBGdK3pWcf5SqCiZK1w/viewform   

The story behind the River of Souls  

The idea to organise the River of Souls was born in 2002. The initiator of the event was Agnė Januškevičiūtė, a student of the Culture Management study programme at VU KnF. For the first few years the event was held exclusively on the Faculty premises.  

Gradually, the river of candles moved to the streets of Kaunas, flowing in the Town Hall Square, Vilnius Street and Laisvės alėja. Throughout the years the event attracted more and more people. In 2008, the Mayor of Kaunas awarded Algirdas Kviklis, the President of the Kaunas Faculty Students’ Representation, with the Crystal of Kindness for the initiative. 

In 2020, because of the pandemic, the River of Souls was commemorated online, via VU SA KnF's social media accounts.  

In 2021, the event returned to the streets of Kaunas, albeit with a slight change – the paraffin candles were replaced with sustainable and long-lasting light-emitting diode (LED) candles. 

Tomas Palšis, Stepas Telešius, and Stede Ingram – three alumni of Vilnius University (VU) Kaunas Faculty and founders of ‘ACME Group', a group of companies specialising in wholesale trade of electronic devices and other business areas – have recently donated EUR 100,000 to the VU Foundation. At the request of the sponsors, the support funds will form the Kaunas Faculty Endowment Sub-fund, with its return on investment to be used for student scholarships.

‘Education is a priority of both our own social responsibility and that of ‘ACME Group’ in general. I believe that we all gain from every investment in this field. First and foremost, Lithuania’s greatest wealth and capital stem from talented people who can create well-running unicorns, open up new business areas, and promote our country. That is why we believe that public education is up to all of us,’ states T. Palšis, co-founder of ‘ACME Group’.

S. Telešius, a shareholder of ‘ACME Group’, agrees that an educated nation is a prosperous nation and that lifelong learning is, therefore, of the utmost importance: ‘At university, we learn to systemise, analyse, and create. With a strong academic grounding, lifelong learning can become much easier. Having been an active VU student myself, I consider it a great honour and pleasure to support the students of this institution and, in general, contribute to the knowledge economy in Lithuania.’

The EUR 100,000 donation by ‘ACME Group’ will have an everlasting effect on VU Kaunas Faculty, as the support funds will be invested rather than spent. In the first year, the return on investment will amount to EUR 2,500. In 100 years, with no additional financing, solely due to exponential growth driven by reinvestment*, the value of the sub-fund established by ‘ACME Group’ will reach EUR 3.2 million, while the return payout to the faculty will be EUR 3.1 million.