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Evening Express: The Financial Conduct Authority (FCA) revealed the personal details of complainants on its website in response to a Freedom of Information (FOI) request, meaning the data was accessible by anyone between November 2019 and February this year.
ZDNet: A threat group has been emailing victims with threats to carry out distributed denial of service (DDoS) attacks unless the organizations pay hefty ransom fees in the Monero (XMR) cryptocurrency.
The target: Crown Bank, a New Jersey based financial institution.
The take: $2 million USD
The attack vector: Cyber criminals impersonated the wife of the CEO using a fake email address and tricked the bank’s employees to transfer funds multiple times. Using fraudulently created signatures of the CEO’s wife attached to PDF files, the attackers convinced bank staff that the requests, and their urgency, were legitimate.
Failure to implement and follow internal validation procedures can have serious consequences, and where an attacker discovers and exploits a weakness, they are likely to attack again until they are discovered. Furthermore, failure to enforce a firm’s security and cash transfer control procedures can invalidate an attempt to recoup damages via an insurance claim.
City Wire: Financial firms and their employees could be doing much more to protect their assets and those of their clients as cybercrime will become one of the biggest risks they face over the next decade, according to cybersecurity expert and former FBI agent Scott Augenbaum.
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Reuters: Britain and the United States joined Georgia on Thursday in blaming Russia for a large-scale cyber attack last year that knocked thousands of Georgian websites offline and disrupted national television broadcasts.
BBC: The data exposed included names, address, and passport numbers for former guests. MGM said it was "confident" no financial information had been exposed. The resort chain said it was unable to say exactly how many people were impacted because information that was exposed might be duplicated.
Plan Adviser: Retirement plan advisers not only have rigorous cybersecurity responsibilities of their own—they also need to proactively help their plan sponsor clients establish airtight cybersecurity firewalls and procedures, industry experts say.
Silicon Angle: The venture capital firm has been a prolific investor in cybersecurity startups. Investments included access control startup Remediant Inc. in August, app security startup NowSecure in June and IoT security provider Mocana Corp. in March. Fund II focus areas include cyber intelligence, privacy, security services and infrastructure protection.
Tech Crunch: Dell Technologies announced that it was selling legacy security firm RSA for $2.075 billion to a consortium of investors led by Symphony Technology Group. Other investors include Ontario Teachers’ Pension Plan Board and AlpInvest Partners.
CityWireSelector: An ETF specialist boutique launched by four former Legal & General Investment Management (LGIM) employees has unveiled two thematic ETFs as it seeks to capitalise on future trends.
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