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Compliance Week: Last year, Equifax agreed to pay up to $700 million in a settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau, and a coalition of 50 attorneys general.
The target: LimeLeads, a San Francisco-based business-to-business leads generator.
The take: 49 million user records including: full name, title, user email, employer/company name, company address, company total revenue and estimated number of employees.
The attack vector: LimeLeads did not set up a password for the internal database which was hosted on a publicly accessible server, meaning anyone with an internet connection was able to access the data and scrape a copy. The highly specific personal details of the data could lead to extremely effective spear-phishing campaigns targeting high level individuals.
The security of intended internal systems is as critical as external facing ones. Adopting stringent cybersecurity policies across all areas of access, whether internal or external, is crucial to maintaining the integrity, confidential and availability of data.
Reuters: McAfee LLC told Reuters it has hired Peter Leav, the former CEO of BMC Software, as its new CEO, replacing Chris Young, who created the cyber security company in its current form by carving it out of Intel Corp four years ago.
Cision: Skyview Capital, LLC ("Skyview") a global private investment firm, announced that it has acquired Fidelis Cybersecurity, Inc. ("Fidelis") from a consortium of investors. Terms were not disclosed.
ZDNet: Cyber incidents are considered the top risk to businesses globally, according to a survey of 2,718 executives across 100 countries, including CEOs, risk managers, brokers and insurance experts, with 39% listing this as their biggest worry.
BusinessWorld: We regularly hear and read about hacks, security breaches and similar cybersecurity incidents that expose vulnerabilities in corporate and government digital security systems.
IMF Blog: Last March, Operation Taiex led to the arrest of the gang leader behind the Carbanak and Cobalt malware attacks on over 100 financial institutions worldwide. This law enforcement operation included the Spanish national police, Europol, FBI, the Romanian, Moldovan, Belarusian, and Taiwanese authorities, as well as private cybersecurity companies. Investigators found out that hackers were operating in at least 15 countries.
IT World Canada: Five of the country’s biggest banks are offering cash prizes to post-secondary students and recent graduates for creating possible solutions to improve the cyber security responses of financial institutions.
The Times of Israel: There are 436 cybersecurity companies operating in Israel at various stages of development a new report by IVC Research Center, which tracks Israel’s tech industry, shows.
The target: Cabarrus County, a district of North Carolina in the United States
The take: $1.7 million dollars
The attack vector: A BEC, or Business Email Compromise. The attackers posed as one of the county’s contractors and requested their bank account be updated in time for the next payment. They spoofed legitimate documents including an electronic funds transfer form (EFT) and signed bank documentation. After receiving the bogus documents, Cabarrus County staff changed the vendor’s account to this new, fake one and continued with their scheduled payments.
This attack highlights the importance of security awareness campaigns that test and train employee’s abilities to spot and report suspicious emails. Additionally, controls should be in place wherever payments are processed to ensure that any requests to change payment instructions are reviewed and validated outside of an e-mail correspondence string.
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