Why is business identity theft increasing, and what are the latest tactics fraudsters are using to scam businesses and gig workers? Eva Velasquez, CEO at the Identity Theft Resource Center, shares her views on how business identity theft has evolved over the years and how to prevent it.
Insurance market giant Lloyd's of London says that starting next year, its cyber insurance policies will no longer cover state-sponsored cyberattacks. But with attribution being inherently tricky, expect this move to be tested in court, says Jonathan Armstrong, a partner at Cordery law firm.
In the latest weekly update, four Information Security Media Group editors discuss key cybersecurity issues, including the high cost of BEC scams, a Cuba ransomware gang's attack on Montenegro, and why so many hacktivists couldn't overcome the technical ennui of the Russia-Ukraine cyberwar.
Ransomware gets the headlines, and phishing sets off the most alerts, but business email compromise costs enterprises the most - more than $43 billion since 2016. U.S. Secret Service agents Stephen Dougherty and Michael Johns discuss the criticality of rapid detection and response.
Identity and access management giant Okta says some customer data was exposed by the "relentless phishing campaign" that breached Twilio, which it uses to provide some SMS services. Twilio says attackers accessed data for 163 customer organizations.
As ransomware continues to pummel organizations left, right and center, two states have responded by banning certain types of ransom payments, and more look set to soon follow suit. But experts warn such bans could have "terrible consequences," leading to costlier and more complicated recovery.
An Iranian government-backed hacking group known as Charming Kitten has updated its malware arsenal to include an email inbox scraping tool, proof of the group's dedication to developing and maintaining purpose-built capabilities. The tool spoofs the user agent to look like an outdated browser.
In the tit-for-tat world of advanced persistent threats, security measures set by Microsoft such as multifactor authentication are being met by Russian hacking group APT29 with circumvention techniques. Mandiant says it's seeing several new hacking methods by the group, also known as Cozy Bear.
Four ISMG editors discuss how security leaders determine the right level of security for the business, the growing risk of business ID theft to enterprises, and the arrest of a developer suspected of working for cryptocurrency mixing service Tornado Cash, for "facilitating money laundering."
Attackers are attempting to reset the passwords of some DigitalOcean customers, the cloud infrastructure provider says. The email addresses of these customers were likely exposed in a data breach involving Mailchimp, which provided transactional email services for DigitalOcean.
Marketers rely on events to create brand awareness and generate demand, and physical events are coming back after the COVID-19 pandemic, says Gily Netzer of Perimeter 81. But "not everybody is traveling," she says, so hybrid events - and SaaS-driven corporate networks - are the future for companies.
Fifty bucks gets cybercriminals access to a phishing-as-a-service platform for campaigns impersonating major brands in the United States and other English-speaking countries. Researchers from IronNet say the prices offered on "Robin Banks" are substantially less than comparable service providers.
U.S. Cyber Command and Security Service of Ukraine revealed malware indicators recently detected in Ukraine, which is resisting invasion by Russia. Cybersecurity firm Mandiant, which has ties to the U.S. military, published a detailed analysis of phishing campaigns with links to Belarus and Russia.
Threat actors carried out smishing attacks on nearly 10,000 Australian students enrolled at Deakin University and downloaded PII of about 47,000 students. Hackers compromised an employee's credentials to access the university's third-party SMS solutions provider to execute the attack.
The "deliberate actions" of a now-fired senior engineer at Customer.io put at risk email addresses of six client companies, including NFT marketplace OpenSea. The email delivery vendor did not specify how many individuals are now at elevated risk of phishing attacks.
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