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The Sydney Morning Herald: Cyber attackers, including foreign governments, are taking advantage of the coronavirus pandemic to try to hack the computer systems of hospitals and medical services, the Australian government has warned.
BBC: EasyJet has admitted that a "highly sophisticated cyber-attack" has affected approximately nine million customers. It said email addresses and travel details had been stolen and that 2,208 customers had also had their credit and debit card details "accessed".
Reuters: Israeli defence firm Elbit Systems (ESLT.TA) said on Tuesday the Charlesbank Technology Opportunities Fund invested $70 million in Elbit’s commercial cybersecurity subsidiary Cyberbit.
CNN Business: A desire to steal money continues to be the leading motivator behind cyber attacks, according to Verizon's annual Data Breach Investigations Report.
The target: Norfund, a Norwegian state-owned Private Equity company.
The take: $10 million USD, diverted from a microfinance institution in Cambodia to a Mexican bank account.
The attack vector: Attackers gained access to Norfund’s e-mail system, likely via a phishing attack, and studied communication between Norfund and their partners. This allowed them to identify those responsible for money transfers, and create a false Norfund e-mail address to impersonate the individual authorized to wire large sums of money via their bank. The attackers diverted the payment intended for the Cambodian institute to a Mexican bank account, fraudulently created in the same name. The attackers delayed discovery of the fraud by over a month by continuing communication in both directions with both Norfund employees and the Cambodian institute, thereby ensuring that the banks would be unable to reverse the fraudulent transfer.
This is, unfortunately, yet another example of a sophisticated business e-mail compromise attack, wherein a very capable group of attackers used access to an internal system to learn the patterns, habits, and procedures of an organization and then proceeded to exploit them. Addressing complex threats like this one require complex and multi-levelled controls – user phishing training and two-factor authentication for e-mail accounts, monitoring of access to e-mail systems, and robust and layered controls around cash transfers that require multiple channels of verifiable communication.
Financial News: The Covid-19 crisis has been a major headache for the asset management sector — most investment houses have bled heavy outflows and seen revenues plunge as investors wait out the turmoil.
Bloomberg: German Chancellor Angela Merkel accused Russia of mounting what she called an “outrageous” cyberattack on her email account and floated the possibility of further sanctions against Moscow.
Read more...Construction News: A Bam spokesman said the business had “stood up well” after hackers gained access to parts of the company’s IT systems. He added it remained “business as usual” for its operations. The contractor has responded by taking a number of its systems offline, including its website, to neutralise the attack while also adding extra defences to guard against future hacks. Bam Construct has been assisted by its Dutch-based parent Royal Bam and external IT experts in responding to the incident.
CNN: The US Department of Homeland Security and the FBI issued a "public service announcement" Wednesday warning that China is likely launching cyberattacks to steal coronavirus data related to vaccines and treatments from US research institutions and pharmaceutical companies, calling it a "significant threat."
Institutional Investor: Just as the reality of the Covid-19 pandemic was setting in for many Americans, the Treasury Department’s Financial Crimes Enforcement Network issued an admonition advising “financial institutions to remain alert about malicious or fraudulent transactions similar to those that occur in the wake of natural disasters.”
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