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ZDNet: vpnMentor researchers led by Noam Rotem said the database appears to be connected to MCA Wizard, a now-defunct app that appears to have been developed by Advantage Capital Funding and Argus Capital Funding.
Cision: According to the report, cybercrime will cost the world $6 trillion annually by 2021, up from $3 trillion in 2015. This represents the greatest transfer of economic wealth in history, risks the incentives for innovation and investment, and will be more profitable than the global trade of all major illegal drugs combined.
Katten: In the wake of the coronavirus (COVID-19) pandemic, government officials have urged companies to allow more employees to work from home in an effort to halt the spread of the disease. As businesses shuffle to operationalize remote work policies, bad actors continue to exploit the vulnerabilities associated with remote work and target employees working from home.
Citywire: A compliance expert has issued a warning after a number of advice firms received a scam email purporting to be from the FCA.The email, seen by several financial planners and passed to New Model Adviser, claims to be from an FCA employee in the ‘claims and firm-authorization' department, and includes a request for a letter to be certified by the recipient, by the end of the working day. The letter is not attached.
Bloomberg: Norm Hullinger was heading into work one day in October when he got a call that his company’s network was acting up. It was no simple glitch. Hackers had started freezing the data of Alphabroder, a sportswear distributor. They wanted more than $3 million to restore it. Grappling with whether to pay, Hullinger, the chief executive officer, embarked on a journey that’s increasingly familiar to law firms, hospitals, and cities that have found themselves on the other end of negotiations with ransomware criminals.
Bloomberg: The U.S. Health and Human Services Department suffered a cyber-attack on its computer system, part of what people familiar with the incident called a campaign of disruption and disinformation that was aimed at undermining the response to the coronavirus pandemic and may have been the work of a foreign actor.
Checkmarx: Checkmarx, the global leader in software security solutions for DevOps, today announced that Hellman & Friedman (“H&F”) has entered into a definitive agreement to acquire the Company from Insight Partners, which will continue to own a substantial minority interest. The deal represents the largest acquisition of an application security company to date.
The target: Angeles Investment Advisors, an asset manager based in Santa Monica, California
The take: The e-mail account of Michael Rosen, Chief Investment Officer, was compromised and used to send a bogus ‘bid for proposal’ link to his contacts.
The attack vector: While details have not been published at this time, it is likely that the initial compromise of Rosen’s account was as a result of a targeted phishing attack. Once attackers had control of his e-mail account, they were able to send a malicious attachment to his contact list, and even responded to individuals who questioned the legitimacy of the e-mail – assuring them that attachment was safe, and that they should open it post-haste.
One of the most insidious risks in an e-mail compromise is that the compromised account will be used as a pivot point, and that the trust in that individual will be exploited for criminal gain. These attacks highlight not only the need to ensure that technical controls are in place to prevent accounts from being compromised in the first place – but also the need to train staff to think critically about the content of messages they receive, and to confirm any suspicious communications or requests via a separate channel of communication.
The Washington Post: Chinese hackers have used fake documents about the coronavirus to deliver malicious software and steal sensitive user information, according to a report Thursday from researchers documenting a growing wave of cybercrime exploiting fears about the global pandemic.
CPA: The average cost of cybercrime surged 29 per cent in the U.S. between 2017 and 2018, reaching US$27.4 million per organization, according to an Accenture Security and Ponemon Institute study, which was based on interviews with more 2,600 senior security professionals at 355 companies in 11 countries (including Canada).
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