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Industry News: ESG5

    Know Your Breach: BT Group

    The Target: BT Group is the United Kingdom's leading fixed and mobile telecom provider. It also provides managed telecommunications, security, and network and IT infrastructure services to customers in 180 countries.

    The Take: This comes after the Black Basta ransomware gang claimed they breached the company's servers and allegedly stole 500GB of data, including financial and organizational data, "users data and personal docs," NDA documents, confidential information, and more.

    The Vector: BT Group identified an attempt to compromise their BT Conferencing platform. This incident was restricted to specific elements of the platform, which were rapidly taken offline and isolated, BleepingComputer was told.

    This breach highlights the extreme importance of timely software updates for known software vulnerabilities, not only in systems directly under a firm’s control, but in third-party systems the firm relies upon as well. The longer a firm, or its vendors, hold out on deploying the most up-to-date software for their systems, the greater the chance an attacker will exploit the issue.

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    How CISOs Are Spending Their New Budgets

    2024-12-05

    Crunchbase: Across-the-board, it seemed like the golden heyday where chief information security officers got more money every time they turned around had come to an end, with a third of CISOs reporting their budgets had dropped, and another fifth having frozen budgets, meaning only committed money would be spent.

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    At Least 8 US Companies Hit in Telecom Attack Spree, Officials Say

    2024-12-04

    Cybersecurity Dive: Salt Typhoon has compromised at least eight telecommunications providers or telecom infrastructure companies in the U.S., though there could be more, Anne Neuberger, deputy national security advisor for cyber and emerging technology, said during a media briefing.

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    Omers’ Private Equity Arm Buys IT Firm Integris From Frontenac

    2024-12-03

    BNN Bloomberg: Omers Private Equity is buying a majority stake in Integris, a US cybersecurity and IT consulting company, from Chicago-based Frontenac Company LLC for an undisclosed amount.

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    EU Enacts New Laws to Strengthen Cybersecurity Defenses and Coordination

    2024-12-03

    CSO Online: The European Union has enacted two new laws to bolster its cybersecurity defenses and coordination mechanisms. The measures, part of the cybersecurity legislative package, include the Cyber Solidarity Act and amendments to the Cybersecurity Act (CSA).

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    UK Cyber Chief Warns Country is at an Inflection Point as Digital Threats Rise

    2024-12-03

    Cybersecurity Dive: The new leader of the United Kingdom’s National Cyber Security Centre   warned the country has reached an inflection point where malicious actors are actively working to weaponize the country’s dependence on the digital economy.

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    SEC Settles With ICBC Unit Over Ransomware Attack, Imposes No Fine

    2024-12-02

    Yahoo Finance: The U.S. Securities and Exchange Commission has settled record keeping charges against an Industrial and Commercial Bank of China unit concerning a November 2023 ransomware attack, but decided not to impose a civil fine.

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    Ex-NBA Athlete Omri Casspi Launches $60 Million Fund Targeting Cybersecurity, Cloud Infra and AI

    2024-12-02

    TechCrunch: Former NBA athlete Omri Casspi has raised $60 million for his latest venture fund, Swish Ventures, which will invest in early-stage cybersecurity, cloud infrastructure, and AI startups.

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    Know Your Breach: Finastra

    The Target: Finastra provides software and services to roughly 8,000 financial institutions worldwide, including 45 of the top 50 banks. Based in London, the company has offices in 42 countries.

    The Take: A threat actor using the moniker ‘abyss0’ announced on a dark web cybercrime forum that they were selling 400 gigabytes of data allegedly stolen in the attack and belonging to the fintech giant’s customers.

    The Vector: The security incident occurred on November 7, 2024, when an attacker used compromised credentials to access one of Finastra's Secure File Transfer Platform (SFTP) systems.

    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.

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    Israel Defies VC Downturn With More Cybersecurity Investments

    2024-11-27

    Dark Reading: Though funding for cybersecurity startups began slowing globally in late 2022, Israeli startups continue to win significant cybersecurity investments, even with the nation's ongoing military operation in Gaza and escalating regional tensions.

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