Author Archives: BankInfoSecurity.com RSS Syndication

Modern Bank Heists 3.0: ‘A Hostage Situation’

Tom Kellermann of VMware Carbon Black on Defending Against Surge in Online Attacks
Ransomware, wire transfer fraud, destructive attacks: In recent months, the financial sector has seen these and other online attacks surge by 238%, as criminals continue to exploit the pandemic, warns Tom Kellermann of VMware Carbon Black, who shares findings from his firm's third "Modern Bank Heists" report.

Britain Re-Evaluating Huawei’s Role in 5G Rollout

US Sanctions Against Chinese Technology Giant May Have Forced Britain's Hand
Britain is reconsidering whether Huawei's technology will be used its national 5G rollout as a result of increased White House sanctions against the Chinese telecommunications giant, which could result in Huawei having to source semiconductors from less reliable sources.

Mercedes-Benz Data Leak: Embarrassing But Endurable

The Mistake Could Have Been Much Worse in an Era of Connected Vehicles
Last week, a curious data breach occurred: Almost 9 GB of software development documentation from Daimler AG, the parent company of Mercedes-Benz. In an era where software underpins vehicles, the leak could have been worse, but underscored how shared code repositories much be protected.

UK Data Breach Reports Decline

As GDPR Hits Second Anniversary, Regional Reporting Variations Continue
Britain's privacy watchdog reports it received 19% fewer data breach notifications in the first quarter than in the same period last year. While the decline may be attributed to more organizations better understanding when to report breaches, other countries have seen an increase in breach reports.

RagnarLocker Deploys a Virtual Machine to Hide Ransomware

Ragnar Gang's Innovation: Installing Oracle VirtualBox Windows XP Virtual Machine
As ransomware gangs continue to try and boost their illicit profits, the RagnarLocker ransomware gang has brought a new tactic to bear: installing a full virtual machine on victims' systems to hide their crypto-locking malware while it forcibly encrypts files, warns security firm Sophos.

Hot Offering on Darknet: Access to Corporate Networks

More Ads Offer Access for a Substantial Price: Positive Technologies
The number of darknet forum ads offering full access to corporate networks jumped almost 70% during the first quarter of 2020, compared to the previous quarter, posing a significant potential risk to corporations and their now remote workforces, according to security firm Positive Technologies.

Remote Workforce Security – the Long Game

"Risk acceptance" was the operative term as organizations quickly deployed remote workforces in response to the global crisis. But now, as this deployment becomes a long-term option, enterprises need to take a future-focused view toward identity, cloud, and the attack surface. Forcepoint's Homayun Yaqub offers tips.

How CISOs Can Achieve Better Network Visibility

Cybersecurity Adviser Ed Moyle on the Need to Keep Up With Security Architecture Changes
To achieve better network visibility, security practitioners must improve their knowledge of tools that support web services, containers and the evolution of development practices, says Ed Moyle, co-founder of the cybersecurity advisory firm Security Curve.

Verizon: Breaches Targeting Cloud-Based Data Doubled in 2019

Analysts Predict Attacks in the Cloud Will Continue to Surge This Year
Attacks targeting cloud-based data nearly doubled in 2019 as companies shifted more of their valuable information off-premises and misconfigurations and other issues made it more vulnerable, according to the 2020 Verizon Data Breach Investigations Report. Observers expect the trend to continue this year.

U.S. Treasury Warning: Beware of COVID-19 Financial Fraud

Financial Crimes Enforcement Network Advises Banks to Be on the Lookout for Scams
The U.S. Treasury's Financial Crimes Enforcement Network is alerting financial institutions about surging COVID-19 themed scams and other illicit activities, ranging from medical-related fraud involving the sale of fake cures, tests and vaccines to price gouging and hoarding of supplies in shortages.

Cybersecurity Leadership: What’s Your 180-Day Plan?

CEOs, CISOs on Authentication, Access and Defending the Hybrid Workforce
Business and security leaders accept that a hybrid workforce is the new norm - some staff members based in a central office and many others permanently working at home. But what new cybersecurity demands does this strategy present short-term and into 2021? Our expert panel shares insights.

DoJ Blasts Apple on Lack of Encryption Backdoor – Again

Law Enforcement Leaders Say Encryption Delayed Terrorist Investigation; Apple Pushes Back
Although FBI technicians were able to gain access to data in two iPhones belonging to a Saudi national who killed three U.S. sailors at a military base in Pensacola, Florida, the Justice Department continues to criticize Apple's refusal to offer law enforcement a backdoor to its encrypted devices.

EasyJet Data Breach Exposes 9 Million Customers’ Details

European Budget Airline Says Payment Card Data Stolen, But Only for 2,200 Customers
European budget airline EasyJet says it suffered a data breach that exposed 9 million customers' personal details. While no passport details were exposed, the company's ongoing investigation has also found that attackers "accessed" a small number - just 2,208 - of customers' payment card details.

Ransomware Gang Demands $42 Million From Celebrity Law Firm

REvil Gang Ups Ransom Ante After Releasing Data on Lady Gaga
The operators of the REvil ransomware strain are attempting to ratchet up pressure on a New York law firm to pay a $42 million ransom before releasing more data on the firm's roster of celebrity clients. So far, cybercriminals released about 2 GB of legal information related to Lady Gaga.

Congress to Consider Competing COVID-19 Privacy Bills

Democrats and Republicans Introduce 2 Versions of Legislation With Similar Goals
As COVID-19 rages and technology firms race to develop contact-tracing apps and other digital tools to help contain the spread, congressional Democrats have followed Republicans in introducing privacy legislation aimed at protecting consumer data collected during public health emergencies.

Android Spyware Hidden in Apps for 4 Years: Report

Mandrake Malware Still Lurks in Apps in Google Play Store, Bitdefender Says
A sophisticated cyber-espionage campaign using spyware called Mandrake has been targeting Android users for at least four years, according to security firm Bitdefender. The malware has the ability steal a range of data, including SMS authentication messages from banks.

‘Security Incident’ Knocks UK’s ARCHER Supercomputer Offline

Other European Supercomputers Also Affected, Officials Say
ARCHER, a British high-performance computing system for academic and theoretical research, has been offline since May 11, when a "security incident" forced the University of Edinburgh to take down the supercomputer. The security incident also affected supercomputers in other parts of Europe, university officials say.

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Digital Contact-Tracing Apps Must Win Hearts and Minds

We Need These Apps, But Some Nations' Security and Privacy Follies Don't Bode Well
Despite the need to battle COVID-19, several nations' in-development digital contact-tracing apps are already dogged by security and privacy concerns. Whether enough users will ever trust these apps to make them effective remains a major question. Is it too late to get more projects back on track?

Forget Whitelists and Blacklists: Go for ‘Allow’ or ‘Deny’

Terminology Shift Announced by Britain's National Cyber Security Center
Forget "whitelists" and "blacklists" in cybersecurity. So recommends Britain's National Cyber Security Center, in a bid to move beyond the racial connotations inherent to the terminology. Henceforth, NCSC - part of intelligence agency GCHQ - will use the terms "allow list" and "deny list." Will others follow?

Investment Firm Hit by BEC Scam

Norway's Norfund Investigating Breach of Internal Network
Fraudsters have conned Norfund, a private equity investment firm based in Oslo, Norway, out of more than $10 million in what the company calls an "advanced data breach." But the incident bears the hallmarks of a business email compromise scam.

Crypto-Lock and Tell: Ransomware Gangs Double Down on Leaks

Dedicated Leak Sites Are Likely Driving More Victims to Pay, Security Experts Warn
More ransomware-wielding gangs are not just crypto-locking victims' systems, but also stealing and threatening to leak data unless they get their demanded bitcoin ransom payoff. A growing number of security experts believe the strategy is leading more victims to pay.