shutterstock_490960141-1

Industry News: ESG5

      Know Your Breach: Transak

      The Target: One of the largest cryptocurrency infrastructure providers, Transak serves nearly six million users across 160 countries and 46 U.S. states.

      The Take: Names, birthdays, passports, driver’s license information and user selfies were leaked in the breach.

      The Vector: A “sophisticated phishing attack” granted the attacker access to an unnamed know-your-customer vendor Transak uses for document scanning and verification.

      As phishing actors continue to explore every potential abuse opportunity on legitimate service providers, novel security gaps constantly threaten to expose users to severe risks. It is essential not to rely solely on email protection solutions, and also scrutinize every email that lands on your inbox, look for inconsistencies, and double-check all claims made in those messages.

      Read more...

      CISA Proposes New Security Requirements for Businesses Exposed to Cyber Espionage

      2024-10-23

      CSO Online: The US Cybersecurity Infrastructure Security Agency (CISA) has proposed a set of security requirements to be fulfilled by organizations running sensitive business transactions with states posing national security and foreign policy threats to the US.

      Read more...

      Sophos Buys Secureworks for $859 Million to Beef Up Cybersecurity Portfolio

      2024-10-22

      MSN: Thoma Bravo-backed cybersecurity firm Sophos said it would acquire Secureworks from Dell Technologies for $859 million in cash to strengthen its product lineup for enterprise customers.

      Read more...

      Cybersecurity Firm Socket Raises $40 Million With Backing From Bret Taylor, Jerry Yang

      2024-10-22

      Yahoo Finance: Cybersecurity services provider Socket said it has raised $40 million in a mid-stage round from a host of existing and new investors, including OpenAI Chairman Bret Taylor, Yahoo Co-Founder Jerry Yang and Shopify CEO Tobias Lutke.

      Read more...

      SEC Accuses Four Firms of Downplaying SolarWinds-Related Hacks

      2024-10-22

      BNN Bloomberg: Four hacked companies will pay a total of almost $7 million to settle US Securities and Exchange Commission allegations that they downplayed the significance of the cyberattacks, the latest fallout from the massive SolarWinds Corp. breach.

      Read more...

      CISOs Are Gaining Influence Among Corporate Leadership

      2024-10-21

      Cybersecurity Dive: As cybersecurity concerns grow around the globe, senior executives and board members are looking to the CISO to help shape how companies manage risk and think strategically about growing technology estates. 

      Read more...

      Cybersecurity in Healthcare: How Hackers Get in and How Organizations Can Protect Themselves

      2024-10-21

      Yahoo Finance: As technology advances at a rapid pace, even the most sophisticated organizations struggle to keep up — especially when it comes to cybersecurity. 

      Read more...

      Investments in Generative AI Startups Topped $3.9 Billion in Q3 2024

      2024-10-20

      TechCrunch: Not everyone is convinced of generative AI’s return on investment. But many investors are, judging by the latest figures from funding tracker PitchBook.

      Read more...

      Know Your Breach: MoneyGram

      The Target: U.S. money transfer giant MoneyGram.

      The Take: The stolen customer data includes names, phone numbers, postal and email addresses, dates of birth, and national identification numbers. The data also includes a “limited number” of Social Security numbers and government identification documents, such as driver’s licenses and other documents that contain personal information, like utility bills and bank account numbers.

      The Vector: BleepingComputer first reported that MoneyGram was breached through a social engineering attack on its IT help desk where threat actors impersonated an employee. Once they gained access to the network, the threat actors initially targeted the Windows active directory services to steal employee information.

      This breach is a stark reminder of how strong authentication controls are in an overall robust cybersecurity posture, and that good password hygiene plays a pivotal role in protection.

      Read more...

      Cybersecurity Funding Plummets 51% In Q3

      2024-10-10

      Crunchbase: After a robust comeback in the second quarter of this year, funding to cybersecurity startups tumbled 51% in Q3 as investors pulled back.

      Read more...

      Fidelity Says Data Breach Exposed Personal Data of 77,000 Customers

      2024-10-10

      TechCrunch: Fidelity Investments, one of the world’s largest asset managers, has confirmed that over 77,000 customers had personal information compromised during an August data breach, including Social Security numbers and driver’s licenses.

      Read more...

      Cybersecurity: A Strategic Imperative For Business Leaders

      2024-10-10

      Forbes: As the CEO of a cybersecurity firm, I've witnessed the evolution of cybersecurity from a niche concern to a cornerstone of strategic business planning. 

      Read more...

      New Data Privacy Trends Help Drive Growth in Frequency and Severity of Large Cyber Claims: Allianz

      2024-10-09

      Business Wire: Cyber claims have continued their upwards trend over the past year, driven in large part by a rise in data and privacy breach incidents, Allianz Commercial warns in its annual cyber risk outlook. 

      Read more...

      Cybersecurity Bill Could Make Ransomware Payment Reporting Mandatory

      2024-10-09

      CSO Online: The Australian Federal Government has introduced the Cyber Security Bill 2024 to Parliament proposing the country’s first standalone cybersecurity Act.

      Read more...

      CISOs, C-Suite Remain At Odds Over Corporate Cyber Resilience

      2024-10-07

      Cybersecurity Dive: The research highlights a troubling gap between security executives and the C-suite at a time when the security industry has been pushing businesses to embrace cyber risk as a core business risk. 

      Read more...

      Man Pleads Guilty to Stealing $37 Million in Crypto From 571 Victims

      2024-10-06

      Bleeping Computer: A 21-year-old man from Indiana named Evan Frederick Light pleaded guilty to stealing $37,704,560 worth of cryptocurrency from 571 victims in a 2022 cyberattack.

      Read more...

      Know Your Breach: ScienceLogic

      The Target: ScienceLogic SL1 (formerly EM7) is an IT operations platform for monitoring, analyzing, and automating an organization's infrastructure, including cloud, networks, and applications.

      The Take: The hackers exploited the zero-day to gain access to web servers and steal limited customer monitoring data, including customer account names and numbers, customer usernames, Rackspace internally generated device IDs, device name and information, IP addresses, and AES256 encrypted Rackspace internal device agent credentials.

      The Vector: Threat actors exploited a zero-day vulnerability in a third-party tool used by the ScienceLogic SL1 platform.

      This breach is critical reminder that zero-day exploits do happen, and furthermore that patching software in a timely, effective manner is a key component of ensuring customer data is protected. Ensuring third-party vendors are deploying patches and fixes in accordance with a firm’s cybersecurity policy is an important step in an overall robust security posture.

      Read more...

      AI is Making Cyberattacks More Sophisticated and Cybersecurity Teams are Struggling to Keep Up

      2024-10-02

      Euro News: New research from the Information Systems Audit and Control Association (ISACA) found that 39 per cent of the almost 6,000 global organizations they surveyed admit they are experiencing more cyberattacks, and 15 per cent of them are suffering from more privacy breaches compared to a year ago.

      Read more...

      Darktrace Announces Formal Completion of its Acquisition by Thoma Bravo

      2024-10-01

      Dark Reading: Darktrace, a global leader in cybersecurity AI, has announced the completion of its acquisition by Thoma Bravo, a leading software investment firm, for $5.3bn. The recommended cash acquisition was announced on 26 April 2024 and the Scheme of Arrangement has now become effective. 

      Read more...

      Ransomware Attacks Surge Despite International Enforcement Effort

      2024-10-01

      Cybersecurity Dive: The number of ransomware attacks hitting U.S. and international organizations continues to climb, despite an extensive and growing effort to reduce the volume and impact of these attacks, U.S. cyber authorities said.

      Read more...

      Cybersecurity M&A Balloons as Breach Danger Builds

      2024-10-01

      Chief Investment Officer: Mergers and acquisitions are up this year for firms providing cybersecurity tools and services, amid heightened attacks by criminals and increased use of artificial intelligence to counter the bad guys.

      Read more...

      Cyber Attacks Causing Reputational Damages: CIRA

      2024-10-01

      BNN Bloomberg: As the number of cyber-attacks has risen in recent years, a new survey finds that the incidents are leading to reputational damages amongst impacted organizations. The Canadian Internet Registration Authority (CIRA) released the results of its latest annual Cyber Security Survey.

      Read more...

      Palo Alto Networks and Deloitte Expand Partnership for AI Cybersecurity

      2024-10-01

      Yahoo Finance: Palo Alto Networks and Deloitte announced an expansion of their strategic alliance into the EMEA and JAPAC regions, making Palo Alto Networks AI-powered cybersecurity solutions and joint offerings available to Deloitte clients globally.

      Read more...

      Cyber Resilience Becoming Extremely Difficult Amid Gen AI Upgrades

      2024-09-30

      CSO Online: With rapid advancements in Artificial Intelligence (AI) pushing boundaries and the regulatory environment in constant flux, achieving cyber resilience is becoming more difficult for enterprises.

      Read more...

      About Castle Hall Diligence

      Castle Hall helps investors build comprehensive due diligence programs across hedge fund, private equity and long only portfolios More →

      Subscribe to Cyber Updates