Threat Intelligence Blog
Contact us to discuss any insights from our Blog, and how we can support you in a tailored threat intelligence report.
Black Arrow Cyber Threat Briefing 26 April 2024
Black Arrow Cyber Threat Intelligence Briefing 26 April 2024:
-Coalition Finds More Than Half of Cyber Insurance Claims Originate in the Email Inbox
-Unmasking the True Cost of Cyber Attacks: Beyond Ransom and Recovery
-Why Cyber Security Should Be Driving Your Enterprise Risk Management Strategy
-Ransomware Double-Dip - Re-Victimisation in Cyber Extortion
-AI is a Major Threat and Many Financial Organisations Are Not Doing Enough to Fight the Threat
-6 out of 10 Businesses Struggle to Manage Cyber Risk
-'Junk Gun' Ransomware: New Low-Cost Cyber Threat Targets SMBs
-Penetration Testing Infrequency Leaves Security Gaps
-Bank Prohibited from Opening New Accounts After Regulators Lose Patience With Poor Cyber Security Governance
-The Psychological Impact of Phishing Attacks on Your Employees
-Where Hackers Find Your Weak Spots
-The Role of Threat Intelligence in Financial Data Protection
-Government Cannot Protect Business and Services from Cyber Attack, Decision Makers Say
Welcome to this week’s Black Arrow Cyber Threat Briefing – a weekly digest, collated and curated by our cyber experts to provide senior and middle management with an easy to digest round up of the most notable threats, vulnerabilities, and cyber related news from the last week.
Top Cyber Stories of the Last Week
Coalition Finds More Than Half of Cyber Insurance Claims Originate in the Email Inbox
The 2024 Cyber Claims Report by insurer Coalition reveals critical vulnerabilities and trends affecting cyber insurance policyholders. Notably, over half of the claims in 2023 stemmed from funds transfer fraud (FTF) and business email compromise (BEC), underlining the critical role of email security in cyber risk management. The report also indicated heightened risks associated with boundary devices like firewalls and VPNs, particularly if they are exposed online and have known vulnerabilities. Additionally, the overall claims frequency and severity rose by 13% and 10% respectively, pushing the average loss to $100,000. These insights emphasise the necessity of proactive cyber security measures and the valuable role of cyber insurance in mitigating financial losses from cyber incidents.
Sources: [IT Security Guru] [Emerging Risks]
Unmasking the True Cost of Cyber Attacks: Beyond Ransom and Recovery
The global cost of cyber crime is expected to soar to $10.5 trillion annually by 2025, a steep rise from $3 trillion in 2015, underscoring a significant improvement in the methods of cyber criminals, according to Cybersecurity Ventures. Beyond direct financial losses like ransomware payments, the hidden costs of cyber attacks for businesses include severe operational disruptions, lost revenue, damaged reputations, strained customer relationships, and regulatory fines. These incidents, further exacerbated by increased insurance premiums, collectively contribute to substantial long-term financial burdens. The report indicates that 88% of data breaches are attributable to human error, underscoring the importance of comprehensive employee training alongside technological defences. To combat these evolving cyber threats effectively, organisations must adopt a multi-pronged strategy that includes advanced security technologies, regular system updates, employee education, and comprehensive security audits.
According to another report from SiliconAngle, cyber insurance claims increased 13% year-over-year in 2023, with the 10% rise in overall claims severity attributed to mounting ransomware attack claims.
Sources: [The Hacker News] [Huntress] [SC Media]
Why Cyber Security Should Be Driving Your Enterprise Risk Management Strategy
Cyber security has transformed from a secondary concern into the cornerstone of corporate risk management. The historical view of cyber security as merely a component of broader risk strategies is outdated; it now demands a central role in safeguarding against operational, financial, and reputational threats. Many businesses, recognising the vital role of technology in all operations, have begun elevating the position of Chief Information Security Officer (CISO) to integrate cyber security into their overall enterprise risk frameworks. This shift not only enhances visibility and strategic alignment at the highest organisational levels but also fosters more robust defences against cyber threats. As such, adopting a cyber security-centric approach is crucial for compliance and long-term resilience in the face of growing digital threats.
Source: [Forbes]
Ransomware Double-Dip: Re-Victimisation in Cyber Extortion
A recent cyber security study reveals a troubling trend of re-victimisation among organisations hit by cyber extortion or ransomware attacks. Analysis of over 11,000 affected organisations shows recurring victimisation due to repeated attacks, data reuse among criminal affiliates, or cross-affiliate data sharing. Notably, cyber extortion incidents have surged by 51% year-on-year. Additionally, a separate study reports payments exceeding $1 billion and a 20% increase in ransomware attack victims since early 2023. These findings underscore the increasing sophistication and persistence of cyber criminals. Despite law enforcement efforts, adaptable cyber crime groups swiftly resume operations, complicating effective threat mitigation. Organisations must enhance their cyber security measures to avoid becoming repeated targets.
Sources: [Security Magazine] [The Hacker News] [SC Media]
AI is a Major Threat and Many Financial Organisations Are Not Doing Enough
Artificial intelligence (AI) is a major concern for organisations, especially for the financial services sector due to the information they hold. Recent reports have found that AI has driven phishing up by 60% and AI tools have been linked to data exposure in 1 in 5 UK organisations. But it is not just attackers utilising AI: a separate report found that 20% of employees have exposed data via AI.
Currently, many financial organisations are not doing enough to secure themselves to fight AI. In a recent survey, 69% of fraud-management decision makers, AML professionals, and risk and compliance leaders reported that criminals are more advanced at using AI for financial crime than firms are in defending against it.
Sources: [Verdict] [Beta News] [Infosecurity Magazine] [TechRadar] [Security Brief]
6 out of 10 Businesses Struggle to Manage Cyber Risk
A report has found that 6 in 10 businesses are struggling to manage their cyber risk and just 43% have confidence in their ability to address cyber risk. Further, 35% of total respondents worry that senior management does not see cyber attacks as a significant risk; the same percentage also reported a struggle in hiring skilled professionals. When it came to implementing their security policy, half of respondents found difficulty, and when it came to securing the supply chain, a third reported worries.
Given the inevitability of a cyber attack, organisations need to prepare themselves. Those that struggle to manage their cyber risk and/or hire skilled professions will benefit from outsourcing to skilled, reputable cyber security organisations who can guide them through the process.
Sources: [PR Newswire] [Beta News]
'Junk Gun' Ransomware: New Low-Cost Cyber Threat Targets SMBs
Sophos’ research reveals a concerning trend: ‘junk gun’ ransomware variants are now traded on the dark web. Rather than going the traditional route of selling or buying ransomware to or as an affiliate, attackers have now begun creating and selling unsophisticated ransomware variants for a one-time cost. Priced at a median of $375, they attract lower-skilled attackers, especially those targeting small and medium-sized businesses (SMBs). As major ransomware players fade, these variants pose significant threats, accounting for over 75% of cyber incidents affecting SMBs in 2023.
Source: [Security Brief] [Tripwire]
Penetration Testing Infrequency Leaves Security Gaps
Many organisations are struggling to maintain the balance between penetration testing and IT changes within the organisation, leaving security gaps according to a recent report. The report found that 73% of organisations reported changes to their IT environments at least quarterly, however only 40% performed penetration testing at the same frequency.
The issue arises where there is a significant duration during which changes have been implemented without undergoing assessment, leaving organisations open to risk for extended periods of time. Consider the situation in which an organisation moves their infrastructure from on-premise to the cloud: they now have a different IT environment, and with that, new risks.
Black Arrow always recommends that a robust penetration test should be conducted whenever changes to internet facing infrastructure have been made, and at least annually.
Source: [MSSP Alert]
Bank Prohibited from Opening New Accounts After Regulators Lose Patience with Poor Cyber Security Governance
A bank in India has been banned from signing up new customers, and instructed to focus on improving its cyber security after “serious deficiencies and non-compliances” were found within their IT environment. The compliances provided by the bank were described as “inadequate, incorrect or not sustained”. The bank is now subject to an external audit, which if passed, will consider the lifting of the restrictions placed upon them.
Source: [The Register]
The Psychological Impact of Phishing Attacks on Your Employees
Phishing remains one of the most prevalent attack vectors for bad actors, and its psychological impact on employees can be severe, with many employees facing a loss in confidence and job satisfaction as well as an increase in anxiety. In a study by Egress, it was found that 74% of employees were disciplined, dismissed or left voluntarily after suffering a phishing incident, which can cause hesitation when it comes to reporting phishing.
Phishing incidents and simulations where employees have clicked should be seen as an opportunity to learn, not to blame, and to understand why a phish was successful and what can be done in future to prevent it. Organisations should perform security education and awareness training to help employees lessen their chance of falling victim, as well as knowing the reporting procedures.
Source: [Beta News]
Where Hackers Find Your Weak Spots
A recent analysis highlights social engineering as a primary vector for cyber attacks, emphasising its reliance on meticulously gathered intelligence to exploit organisational vulnerabilities. Attackers leverage various intelligence sources; Open Source Intelligence (OSINT) for public data, Social Media Intelligence (SOCMINT) for social media insights, Advertising Intelligence (ADINT) from advertising data, Dark Web Intelligence (DARKINT) from the DarkWeb, and the emerging AI Intelligence (AI-INT) using artificial intelligence. These methods equip cyber criminals with detailed knowledge about potential victims, enabling targeted and effective attacks. The report underscores the critical importance of robust information management and employee training to mitigate such threats, specifically advocating for regular training, AI-use policies, and proactive intelligence gathering by organisations to protect against the substantial risks posed by social engineering.
Source: [Dark Reading]
The Role of Threat Intelligence in Financial Data Protection
The financial industry’s reliance on digital processes has made it vulnerable to cyber attacks. Criminals target sensitive customer data, leading to financial losses, regulatory fines, and reputational damage. To combat these threats such as phishing, malware, ransomware, and social engineering, financial institutions must prioritise robust cyber security measures. One effective approach is threat intelligence, which involves ingesting reliable threat data, customised to your sector and the technology you have in place, and dark web monitoring.
Source: [Security Boulevard]
Government Cannot Protect Business and Services from Cyber Attack, Decision Makers Say
According to a recent report, 66% of surveyed IT leaders expressed a lack of confidence in their government’s ability to defend people and enterprises from cyber attacks, especially those from nation state actors. This scepticism arises from the growing complexity of threats and the rapid evolution of cyber warfare. While governments play a critical role in national security, their agility in adapting to the ever-changing digital landscape leaves organisations finding themselves increasingly responsible for their own protection.
Source: [TechRadar] [Security Magazine]
Governance, Risk and Compliance
Ransomware triggers cyber insurance claims increase | SC Media (scmagazine.com)
Six out of 10 businesses struggle to manage cyber risk (betanews.com)
Email inbox cyber crime leaps as claims soar (emergingrisks.co.uk)
It Costs How Much?!? The Financial Pitfalls of Cyber Attacks on SMBs | Huntress
Why Cyber Security Should Be Driving Your Enterprise Risk Management Strategy (forbes.com)
Cyber attacks are on the rise, and that includes small businesses. Here's what to know | AP News
Cyber staff priority as threats continue – report (emergingrisks.co.uk)
UK government cannot protect businesses and services from cyber attacks, IT pros say | TechRadar
Why cyber attacks shouldn’t be viewed as isolated incidents - Raconteur
Bank banned from opening new accounts over IT risks • The Register
Battening down the hatches: Navigating third-party cyber threats | SC Media (scmagazine.com)
Cyber Attacks Keep Rising. Here's What Small Businesses Need to Know | Inc.com
73% of SME security pros missed or ignored critical alerts - Help Net Security
Unmasking the True Cost of Cyber Attacks: Beyond Ransom and Recovery (thehackernews.com)
4 steps CISOs can take to raise trust in their business | TechTarget
NCSC Says Newer Threats Need Network Defence Strategy | Trend Micro (US)
Uncertainty is the most common driver of noncompliance - Help Net Security
Threats
Ransomware, Extortion and Destructive Attacks
Ransomware triggers cyber insurance claims increase | SC Media (scmagazine.com)
Report finds a near 20% increase in ransomware victims year-over-year | Security Magazine
Ransomware Double-Dip: Re-Victimization in Cyber Extortion (thehackernews.com)
'Junk gun' ransomware: New low-cost cyber threat targets SMBs (securitybrief.co.nz)
Mandiant: Attacker dwell time down, ransomware up in 2023 | TechTarget
Behavioural patterns of ransomware groups are changing - Help Net Security
Record ransomware attacks in March 2024, report finds (securitybrief.co.nz)
Ransomware payments drop to record low of 28% in Q1 2024 (bleepingcomputer.com)
Hackers use developing countries as testing ground for new ransomware attacks (ft.com)
Ransomware Still On Rise Despite Better Defences, Firm Says - Law360
Hackers are using developing countries for ransomware practice | Ars Technica
Dark web inundated by cheap ransomware tools | SC Media (scmagazine.com)
Unmasking the True Cost of Cyber Attacks: Beyond Ransom and Recovery (thehackernews.com)
Action needed amid escalating ransomware attacks, record-high payments | SC Media (scmagazine.com)
HelloKitty ransomware rebrands, releases CD Projekt and Cisco data (bleepingcomputer.com)
Rising Ransomware Issue: English-Speaking Western Affiliates (govinfosecurity.com)
CL0P ransomware gang is on the rise | Hogan Lovells - JDSupra
Proportion paying ransoms declines in Q1 2024, even as takings break a new record (computing.co.uk)
Megazord Ransomware Attacking Healthcare & Govt Entities (cybersecuritynews.com)
CISA ransomware warning program set to fully launch by end of 2024 | CyberScoop
Cyber Hygiene Helps Organisations Mitigate Ransomware-Related Vulnerabilities | CISA
Ransomware attacks rise in global food & agriculture sector (securitybrief.co.nz)
Ransomware Victims
Hackers Were in Change Healthcare 9 Days Before Attack (pymnts.com)
UnitedHealth BlackCat Attack Cost is $872M in Q1 | MSSP Alert
UnitedHealth admits breach could affect large chunk of US • The Register
Back from the Brink: UnitedHealth Offers Sobering Post-Attack Update (darkreading.com)
UnitedHealth Paid Ransom to Protect Patient Data | MSSP Alert
UNDP, City of Copenhagen Targeted in Data-Extortion Cyber Attack (darkreading.com)
Cannes Hospital Cancels Medical Procedures Following Cyber Attack - Security Week
Small medical practices will close because of Change cyber attack, says AMA | Healthcare IT News
HelloKitty ransomware rebrands, releases CD Projekt and Cisco data (bleepingcomputer.com)
Sweden's liquor shelves to run empty this week due to ransomware attack (therecord.media)
Authentication failure blamed for Change Healthcare ransomware attack | CSO Online
Ransomware feared as Octapharma Plasma closes 150+ centers • The Register
Red Ransomware takes credit for Targus attack | SC Media (scmagazine.com)
Ransomware Gang Leaks Data Allegedly Stolen From Government Contractor - Security Week
Carpetright unable to trade after cyber attack - Retail Gazette
Street lights in Leicester City cannot be turned off due to a cyber attack (securityaffairs.com)
Phishing & Email Based Attacks
The psychological impact of phishing attacks on your employees (betanews.com)
Hackers Create Legit Phishing Links With Ghost GitHub, GitLab Comments (darkreading.com)
Authorities investigate LabHost users after phishing service shut down | SC Media (scmagazine.com)
LA County Health Services: Patients' data exposed in phishing attack (bleepingcomputer.com)
BEC
Other Social Engineering
LastPass Users Lose Master Passwords to Ultra-Convincing Scam (darkreading.com)
Open Source Groups Warn of Social Engineering Backdoors | MSSP Alert
Artificial Intelligence
AI is a major threat and financial organisations are not doing enough to fight it | Biometric Update
Fifth of CISOs Admit Staff Leaked Data Via GenAI - Infosecurity Magazine (infosecurity-magazine.com)
Five Eyes agencies publish report on AI security | Hogan Lovells - JDSupra
AI tools linked to data exposure in 1 in 5 UK organisations (securitybrief.co.nz)
CSOs say AI is 'biggest cyber threat' to organisations | TechRadar
Man arrested for 'framing colleague' with AI-generated voice • The Register
Microsoft Warns: North Korean Hackers Turn to AI-Fueled Cyber Espionage (thehackernews.com)
People doubt their own ability to spot AI-generated deepfakes - Help Net Security
A National Security Insider Does the Math on the Dangers of AI | WIRED
40% of organisations have AI policies for critical infrastructure | Security Magazine
GPT-4 can exploit real vulnerabilities by reading advisories • The Register
25 cyber security AI stats you should know - Help Net Security
Cyber Threats in the Age of AI: Protecting Your Digital DNA - Security Boulevard
6 security items that should be in every AI acceptable use policy | CSO Online
'Poisoned' data could wreck AIs in wartime, warns Army software acquisition chief - Breaking Defence
The use of AI in war games could change military strategy (theconversation.com)
2FA/MFA
Strengths & Weaknesses of MFA Methods Against Cyber Attacks | Duo Security
What is multi-factor authentication (MFA), and why is it important? - Help Net Security
Malware
ToddyCat APT Is Stealing Data on 'Industrial Scale' (darkreading.com)
Report says over 10 million devices were infected by data-stealing malware in 2023 - PhoneArena
New Brokewell malware takes over Android devices, steals data (bleepingcomputer.com)
GitLab affected by GitHub-style CDN flaw allowing malware hosting (bleepingcomputer.com)
Microsoft unmasks Russia-linked ‘GooseEgg’ malware (therecord.media)
Hackers hijack antivirus updates to drop GuptiMiner malware (bleepingcomputer.com)
eScan Antivirus Update Mechanism Exploited to Spread Backdoors and Miners (thehackernews.com)
Beware! Notorious Samurai Stealer Used in Targeted Attacks (cybersecuritynews.com)
Threat Actor Uses Multiple Infostealers in Global Campaign - Security Week
Seedworm Hackers Exploit RMM Tools to Deliver Malware (cybersecuritynews.com)
Antivirus updates hijacked to drop dangerous malware | TechRadar
Hackers infect users of antivirus service that delivered updates over HTTP | Ars Technica
Researchers sinkhole PlugX malware server with 2.5 million unique IPs (bleepingcomputer.com)
Millions of IPs remain infected by USB worm years after its creators left it for dead | Ars Technica
North Korea's Lazarus Group Deploys New Kaolin RAT via Fake Job Lures (thehackernews.com)
Mobile
Report says over 10 million devices were infected by data-stealing malware in 2023 - PhoneArena
Ukrainian soldiers’ apps increasingly targeted for spying, cyber agency warns (therecord.media)
iPhone password reset attacks are real – how to protect yourself | Mashable
New Brokewell malware takes over Android devices, steals data (bleepingcomputer.com)
Godfather Banking Trojan Spawns 1.2K Samples Across 57 Countries (darkreading.com)
Give Your iPhone a Security Boost With This iOS 17.4 Feature - CNET
Data Breaches/Leaks
5.3M World-Check records may be leaked; how to check your records | SC Media (scmagazine.com)
Hackers stole 7,000,000 people's DNA. But what can they do with it? | Tech News | Metro News
AT&T Offers All Customers Free Security Bundle After Data Breach (tech.co)
App bug exposes 1M neighbourhood watchers to data harvesters • The Register
Fifth of CISOs Admit Staff Leaked Data Via GenAI - Infosecurity Magazine (infosecurity-magazine.com)
Organised Crime & Criminal Actors
Rising Ransomware Issue: English-Speaking Western Affiliates (govinfosecurity.com)
Russian FSB Counterintelligence Chief Gets 9 Years in Cyber Crime Bribery Scheme – Krebs on Security
Authorities investigate LabHost users after phishing service shut down | SC Media (scmagazine.com)
To Catch a Cyber Criminal -- and the Fallout That Follows (informationweek.com)
Cryptocurrency/Cryptomining/Cryptojacking/NFTs/Blockchain
eScan Antivirus Update Mechanism Exploited to Spread Backdoors and Miners (thehackernews.com)
Lazarus On the Hunt: How North Korean Hackers are Targeting Crypto via LinkedIn (bitcoinist.com)
Insider Risk and Insider Threats
Most people still rely on memory or pen and paper for password management - Help Net Security
CesiumAstro claims former exec spilled trade secrets to upstart competitor AnySignal | TechCrunch
Insurance
Ransomware triggers cyber insurance claims increase | SC Media (scmagazine.com)
Email inbox cyber crime leaps as claims soar (emergingrisks.co.uk)
Coalition: Insurance claims for Cisco ASA users spiked in 2023 | TechTarget
Supply Chain and Third Parties
Battening down the hatches: Navigating third-party cyber threats | SC Media (scmagazine.com)
Ransomware Gang Leaks Data Allegedly Stolen From Government Contractor - Security Week
Cloud/SaaS
How Attackers Can Own a Business Without Touching the Endpoint (thehackernews.com)
5 Hard Truths About the State of Cloud Security 2024 (darkreading.com)
Identity and Access Management
How Attackers Can Own a Business Without Touching the Endpoint (thehackernews.com)
Identity-based security threats are growing rapidly: report | CSO Online
Encryption
Europol asks tech firms, governments to get rid of E2EE • The Register
How tech firms are tackling the risks of quantum computing | World Economic Forum (weforum.org)
Australian authorities call for Big Tech help with decryption • The Register
Linux and Open Source
Passwords, Credential Stuffing & Brute Force Attacks
Most people still rely on memory or pen and paper for password management - Help Net Security
New Password Cracking Analysis Targets Bcrypt - Security Week
Brute Force Password Cracking Takes Longer - Don't Celebrate Yet (technewsworld.com)
Social Media
Dutch govt body: Don't use Facebook if unsure about privacy • The Register
North Korea's Lazarus Group Deploys New Kaolin RAT via Fake Job Lures (thehackernews.com)
Malvertising
Training, Education and Awareness
Regulations, Fines and Legislation
Preparing for NIS2: A Compliance Guide For Covered Entities | UpGuard
NIS2: Preparing for EU’s New Cyber Security Rules | Wilson Sonsini Goodrich & Rosati – JDSupra
Compliance in 2024: Cutting through the noise (federalnewsnetwork.com)
Google Postpones Third-Party Cookie Deprecation Amid UK Regulatory Scrutiny (thehackernews.com)
A view from Brussels: To be sovereign, or not to be (iapp.org)
Cyber Security | UK Regulatory Outlook April 2024 - Lexology
Net neutrality has been restored in the US - Help Net Security
Models, Frameworks and Standards
Fortifying your business with ISO 27001 - DCD (datacenterdynamics.com)
Preparing for NIS2: A Compliance Guide For Covered Entities | UpGuard
Taking Time to Understand NIS2 Reporting Requirements - Security Boulevard
Data Protection
Boost your data protection with insights from Dell's report - SiliconANGLE
A view from Brussels: To be sovereign, or not to be (iapp.org)
Careers, Working in Cyber and Information Security
Cyber staff priority as threats continue – report (emergingrisks.co.uk)
Three Ways Organisations Can Overcome the Cyber Security Skills Gap - Security Boulevard
Addressing the cyber skills shortage: 5 key steps to take | CSO Online
Five Essential Steps To Land Your First Cyber Security Job (forbes.com)
Expert Insight: Outdated Recruitment Methods Are Impeding The Global Cyber Army - IT Security Guru
Law Enforcement Action and Take Downs
Authorities investigate LabHost users after phishing service shut down | SC Media (scmagazine.com)
To Catch a Cyber Criminal -- and the Fallout That Follows (informationweek.com)
Man arrested for 'framing colleague' with AI-generated voice • The Register
Misinformation, Disinformation and Propaganda
Nation State Actors, Advanced Persistent Threats (APTs), Cyber Warfare, Cyber Espionage and Geopolitical Threats/Activity
Cyber Warfare and Cyber Espionage
State-Sponsored Hackers Exploit Two Cisco Zero-Day Vulnerabilities for Espionage (thehackernews.com)
China
ToddyCat APT Is Stealing Data on 'Industrial Scale' (darkreading.com)
Chinese, Russian espionage campaigns increasingly targeting edge devices (therecord.media)
UK mulls fresh controls on 'sensitive tech' after China cyber claim (thenextweb.com)
FBI Director Wray Issues Dire Warning on China's Cyber Security Threat (darkreading.com)
Head of Belgian Foreign Affairs Committee says she was hacked by China | Reuters
New tool used in China-linked attacks against Asia-Pacific | SC Media (scmagazine.com)
Dutch intelligence warns of stronger threats from China, jihadists and extremists | NL Times
MITRE breached by nation-state threat actor via Ivanti zero-days - Help Net Security
Ads on .gov.uk websites raise eyebrows over privacy • The Register
Russia
Microsoft: APT28 hackers exploit Windows flaw reported by NSA (bleepingcomputer.com)
Microsoft issues warning over ‘GooseEgg’ tool used in Russian hacking campaigns | ITPro
Chinese, Russian espionage campaigns increasingly targeting edge devices (therecord.media)
Russia's Fancy Bear Pummels Windows Print Spooler Bug (darkreading.com)
Overflowing Water Tank Linked to Russian Cyber Attack (govtech.com)
Russia accused of jamming GPS signal on flights from UK causing route chaos (inews.co.uk)
Russian Sandworm hackers targeted 20 critical orgs in Ukraine (bleepingcomputer.com)
Russian FSB Counterintelligence Chief Gets 9 Years in Cyber Crime Bribery Scheme – Krebs on Security
Campaigns and political parties are in the crosshairs of election meddlers | CyberScoop
Mandiant: Russia, Iran pose biggest threat to 2024 elections • The Register
Ukrainian soldiers’ apps increasingly targeted for spying, cyber agency warns (therecord.media)
MITRE breached by nation-state threat actor via Ivanti zero-days - Help Net Security
Ukraine participates in NATO cyber security exercise in Estonia / The New Voice of Ukraine (nv.ua)
Cyber attacks on Poland surged after election of pro-Ukraine regime (thenextweb.com)
Iran
Campaigns and political parties are in the crosshairs of election meddlers | CyberScoop
Mandiant: Russia, Iran pose biggest threat to 2024 elections • The Register
Iranian nationals charged with hacking US companies, Treasury and State departments | CyberScoop
The Biggest 2024 Elections Threat: Kitchen-Sink Attack Chains (darkreading.com)
North Korea
Hackers hijack antivirus updates to drop GuptiMiner malware (bleepingcomputer.com)
Microsoft Warns: North Korean Hackers Turn to AI-Fuelled Cyber Espionage (thehackernews.com)
North Korea's Lazarus Group Deploys New Kaolin RAT via Fake Job Lures (thehackernews.com)
Other Nation State Actors, Hacktivism, Extremism, Terrorism and Other Geopolitical Threat Intelligence
Vulnerability Management
Third-Party Software Patching: Your Cyber Armor in 2024 | MSSP Alert
Automated patch management: 9 best practices for success | TechTarget
Vulnerabilities Versus Intentionally Malicious Software Components - The New Stack
GPT-4 can exploit real vulnerabilities by reading advisories • The Register
CISA ransomware warning program set to fully launch by end of 2024 | CyberScoop
Vulnerabilities
22,500 Palo Alto firewalls "possibly vulnerable" to ongoing attacks (bleepingcomputer.com)
Palo Alto Networks Discloses More Details on Critical PAN-OS Flaw Under Attack (thehackernews.com)
Russia's Fancy Bear Pummels Windows Print Spooler Bug (darkreading.com)
'MagicDot' Windows Weakness Allows Unprivileged Rootkit Activity (darkreading.com)
Microsoft: APT28 hackers exploit Windows flaw reported by NSA (bleepingcomputer.com)
MITRE says state hackers breached its network via Ivanti zero-days (bleepingcomputer.com)
GitLab affected by GitHub-style CDN flaw allowing malware hosting (bleepingcomputer.com)
Google Patches Critical Chrome Vulnerability - Security Week
Microsoft releases Exchange hotfixes for security update issues (bleepingcomputer.com)
PoC Exploit Released For Critical Oracle VirtualBox Vulnerability (gbhackers.com)
Critical Forminator plugin flaw impacts over 300k WordPress sites (bleepingcomputer.com)
Major Security Flaw in Popular Keyboard Apps Puts Millions at Risk (cybersecuritynews.com)
Patch Now: CrushFTP Zero-Day Cloud Exploit Targets US Orgs (darkreading.com)
GitHub vulnerability leaks sensitive security reports | TechTarget
New Password Cracking Analysis Targets Bcrypt - Security Week
Maximum severity Flowmon bug has a public exploit, patch now (bleepingcomputer.com)
Tools and Controls
Seedworm Hackers Exploit RMM Tools to Deliver Malware (cybersecuritynews.com)
Third-Party Software Patching: Your Cyber Armour in 2024 | MSSP Alert
The Role of Threat Intelligence in Financial Data Protection - Security Boulevard
Automated patch management: 9 best practices for success | TechTarget
Rethinking How You Work with Detection and Response Metrics (darkreading.com)
Choosing SOC Tools? Read This First [2024 Guide] - Security Boulevard
Research Shows How Attackers Can Abuse EDR Security Products - SecurityWeek
What is multi-factor authentication (MFA), and why is it important? - Help Net Security
Strengths & Weaknesses of MFA Methods Against Cyber Attacks | Duo Security
Zero Trust Takes Over: 63% of Orgs Implementing Globally (darkreading.com)
5 Hard Truths About the State of Cloud Security 2024 (darkreading.com)
Explore CASB use cases before you decide to buy | TechTarget
SD-WAN: Don't Build a Dead End, Prepare for Future-Proof Secure Networking - SecurityWeek
Identity-based security threats are growing rapidly: report | CSO Online
Microsoft criticized for charging for security add-ons • The Register
5 insights from new Microsoft CNAPP guide | Microsoft Security Blog
The Peril of Badly Secured Network Edge Devices (inforisktoday.com)
VPNs, Firewalls' Nonexistent Telemetry Lures APTs (darkreading.com)
The first steps of establishing your cloud security strategy - Help Net Security
40% of organizations have AI policies for critical infrastructure | Security Magazine
Understand the Benefits and Limitations of Automated Tools in Penetration Testing (prweb.com)
World´s most advanced cyber defence exercise kicks off in Tallinn
CISA ransomware warning program set to fully launch by end of 2024 | CyberScoop
Reports Published in the Last Week
Mandiant's M-Trends Report Reveals New Insights from Frontline Cyber Investigations (prnewswire.com)
Boost your data protection with insights from Dell's report - SiliconANGLE
Rising Cyber Threats Pose Serious Concerns for Financial Stability (imf.org)
Cyber Security in the UK - House of Commons Library (parliament.uk)
Other News
Why Educating HR Professionals on Cyber Risk Is Crucial (thehrdirector.com)
Network Threats: A Step-by-Step Attack Demonstration (thehackernews.com)
UK cyber agency NCSC announces Richard Horne as its next chief executive (therecord.media)
Internet cable at Cali airport cut in apparent sabotage • The Register
EU Statement – UN General Assembly 1st Committee: Cyber Security | EEAS (europa.eu)
Why Tourists Are Particularly Vulnerable To Cyber Attacks (maltatoday.com.mt)
AI Is Going Well For Microsoft, But Cyber Security Is Not - Microsoft (NASDAQ:MSFT) - Benzinga
Questions for IT and cyber leaders from the CSRB Microsoft report | Computer Weekly
World´s most advanced cyber defence exercise kicks off in Tallinn
Why Cyber Security Is Key To Solving Global Crises (forbes.com)
Colleges spending more than ever on cyber security efforts (insidehighered.com)
Foreign states targeting UK universities, MI5 warns - BBC News
Cyber resilience in the public sector: lessons for UK Councils (techinformed.com)
Digital Blitzkrieg: Unveiling Cyber Logistics Warfare (darkreading.com)
Sector Specific
Industry specific threat intelligence reports are available.
Contact us to receive tailored reports specific to the industry/sector and geographies you operate in.
· Automotive
· Construction
· Critical National Infrastructure (CNI)
· Defence & Space
· Education & Academia
· Energy & Utilities
· Estate Agencies
· Financial Services
· FinTech
· Food & Agriculture
· Gaming & Gambling
· Government & Public Sector (including Law Enforcement)
· Health/Medical/Pharma
· Hotels & Hospitality
· Insurance
· Legal
· Manufacturing
· Maritime
· Oil, Gas & Mining
· OT, ICS, IIoT, SCADA & Cyber-Physical Systems
· Retail & eCommerce
· Small and Medium Sized Businesses (SMBs)
· Startups
· Telecoms
· Third Sector & Charities
· Transport & Aviation
· Web3
As usual, contact us to help assess where your risks lie and to ensure you are doing all you can do to keep you and your business secure.
Look out for our ‘Cyber Tip Tuesday’ video blog and on our YouTube channel.
You can also follow us on Facebook, Twitter and LinkedIn.
Links to articles are for interest and awareness and linking to or reposting external content does not endorse any service or product, likewise we are not responsible for the security of external links.
Black Arrow Cyber Threat Briefing 25 November 2022
Black Arrow Cyber Threat Briefing 25 November 2022:
-Hackers Hit One Third of Organisations Worldwide Multiple Times
-Firms Spend $1,197 Per Employee Yearly to Address Cyber Attacks
-90% of Organisations have Microsoft 365 Security Gaps
-Luna Moth Phishing Extortion Campaign Targets Businesses in Multiple Sectors
-The Real Cost of Cyber Attacks: What Organisations Should Be Prepared For
-34 Russian Cyber Crime Groups Stole Over 50 Million Passwords with Stealer Malware
-“Password” Continues to Be the Most Common Password in 2022
-Lasts Year’s Massive Twitter Data Breach Was Far Worse Than Reported, Reveal Security Researchers
-European Parliament Declares Russia to be a State Sponsor of Terrorism – then Gets Attacked
-The Changing Nature of Nation-State Cyber Warfare
-Is Your Company Covered for a Cyber Security Attack? That’s the £2 Million Question
Welcome to this week’s Black Arrow Cyber Threat Briefing – a weekly digest, collated and curated by our cyber experts to provide senior and middle management with an easy to digest round up of the most notable threats, vulnerabilities, and cyber related news from the last week.
Top Cyber Stories of the Last Week
Hackers Hit One Third of Organisations Worldwide Multiple Times
Hackers have stolen customer records multiple times from nearly a third of organisations worldwide in the past 12 months, security provider Trend Micro said in its newly released, twice-yearly Cyber Risk Index (CRI) report.
The report features interviews with some 4,100 organisations across North America, Europe, Latin/South America and Asia-Pacific. Respondents stressed that customer records are at increased risk as organisations struggle to profile and defend an expanding attack surface.
Overall, respondents rated the following as the top cyber threats in 1H 2022:
Business Email Compromise (BEC)
Clickjacking
Fileless attacks
Ransomware
Login attacks (Credential Theft)
Here are some key findings from the study:
The CRI calculates the gap between organisational preparedness and the likelihood of being attacked, with -10 representing the highest level of risk. The global CRI index moved from –0.04 in 2H 2021 to –0.15 in 1H 2022, indicating a surging level of risk over the past six months.
This is a slight increase in risk from the second half of 2021, when it was -0.04. Organisations in North America and Asia-Pacific saw an increase in their cyber risk from that period while Europe and Latin/South America’s risk decreased in comparison.
The number of global organisations experiencing a “successful” cyber-attack increased from 84% to 90% over the same period.
The number now expected to be compromised over the coming year has also increased from 76% to 85%.
From the business perspective, the biggest concern is the misalignment between CISOs and business executives, Trend Micro said. The answers given by respondents to the question: “My organisation’s IT security objectives are aligned with business objectives,” only made a score of 4.79 out of 10.0
By addressing the shortage of cyber security professionals and improving security processes and technology, organisations will significantly reduce their vulnerability to attacks.
You can’t protect what you can’t see. But with hybrid working ushering in a new era of complex, distributed IT environments, many organisations are finding it difficult to eradicate growing security coverage and visibility gaps. To avoid the attack surface spiraling out of control, they need to combine asset discovery and monitoring with threat detection and response on a single platform.
Firms Spend $1,197 Per Employee Yearly to Address Cyber Attacks
Companies pay an average of $1,197 per employee yearly to address successful cyber incidents against email services, cloud collaboration apps or services and browsers.
Security researchers at Perception Point shared the findings with Infosecurity before publishing them in a new white paper this month.
According to the new data, the above figures exclude compliance fines, ransomware mitigation costs and losses from non-operational processes, all of which can cause further spending.
The survey, conducted in conjunction with Osterman Research in June, considers the responses of 250 security and IT decision-makers at various enterprises and reveals additional discoveries regarding today’s enterprise threat landscape.
These findings demonstrate the urgent need for organisations to find the most accurate and efficient cyber security solutions which provide the necessary protection with streamlined processes and managed services.
Among the findings is that malicious incidents against new cloud-based apps and services occur at 60% of the frequency with which they take place on email-based services.
Additionally, some attacks, like those involving malware installed on an endpoint, happen on cloud collaboration apps at a much higher rate (87%) when compared to email-based services.
The Perception Point report also shows that a successful email-based cyber incident takes security staff an average of 86 hours to address.
In light of these figures, the security company added that one security professional with no additional support can only handle 23 email incidents annually, representing a direct cost of $6452 per incident alone.
Conversely, incidents detected on cloud collaboration apps or services take, on average, 71 hours to resolve. In these cases, one professional can handle just 28 incidents yearly at an average cost of $5305 per incident.
https://www.infosecurity-magazine.com/news/firms-dollar1197-per-employee/
90% of Organisations have Microsoft 365 Security Gaps
A recently published study evaluated 1.6 million Microsoft 365 users across three continents, finding that 90% of organisations had gaps in essential security protections. Managing Microsoft 365 (M365) is complicated. How can IT teams avoid management headaches, stay 100% compliant, and truly take control of their M365 instance?
Research from the study reveals that many common security procedures are not being followed 100% of the time. This leaves gaping holes in most organisations’ security defences. While most companies have strong documented security policies, the research uncovered that most aren’t being implemented consistently due to difficulties in reporting and limited IT resources:
90% of companies had gaps across all four key areas studied – multi-factor authentication (MFA), email security, password policies, and failed logins
87% of companies have MFA disabled for some or all their admins (which are the most critical accounts to protect, due to their higher access levels)
Only 17% of companies had strong password requirements that were being consistently followed.
Overall, nearly every organisation is leaving the door open for cyber security threats due to weak credentials, particularly for administrator accounts.
In addition to security challenges, the study identified key areas for improvement in managing Microsoft 365 licences as well, such as:
The average company had 21.6% of their licenses unassigned or “sitting on the shelf.” Another 10.2% of licenses were inactive, for an average of 31.9% unused licenses.
17% of companies had over 10,000 licenses unassigned or inactive. These cases represent big opportunities to optimise licence spend with better tools.
Overall, the study reveals that reporting challenges make security and licence management incredibly difficult, leading to unnecessary risks and costs.
https://www.helpnetsecurity.com/2022/11/22/microsoft-365-security-protections/
Luna Moth Phishing Extortion Campaign Targets Businesses in Multiple Sectors
A callback phishing extortion campaign by Luna Moth (aka Silent Ransom Group) has targeted businesses in multiple sectors, including legal and retail.
The findings come from Palo Alto Network’s security team Unit 42, which described the campaign in a new advisory.
“This campaign leverages extortion without encryption, has cost victims hundreds of thousands of dollars and is expanding in scope,” reads the technical write-up. At the same time, Unit 42 said that this type of social engineering attack leaves very few artifacts because it relies on legitimate technology tools to carry out attacks. In fact, callback phishing, also known as telephone-oriented attack delivery (TOAD), is a social engineering method that requires a threat actor to interact with the victim to accomplish their goals.
“This attack style is more resource intensive but less complex than script-based attacks, and it tends to have a much higher success rate,” reads the advisory. According to Unit 42, threat actors associated with the Conti group have extensively used this attack style in BazarCall campaigns. “Early iterations of this attack focused on tricking the victim into downloading the BazarLoader malware using documents with malicious macros,” explained the researchers.
As for the new campaign, which Sygnia security researchers first unveiled in July, it removes the malware portion of the attack. “In this campaign, attackers use legitimate and trusted systems management tools to interact directly with a victim’s computer to manually exfiltrate data [...] As these tools are not malicious, they’re not likely to be flagged by traditional antivirus products,” Unit 42 wrote.
The researchers also said that they expect callback phishing attacks to increase in popularity because of low per-target cost, low risk of detection and fast monetisation factors.
https://www.infosecurity-magazine.com/news/luna-moth-phishing-target-multiple/
The Real Cost of Cyber Attacks: What Organisations Should Be Prepared For
With each passing year, hackers and cyber criminals of all kinds are becoming more sophisticated, malicious, and greedy conducting brazen and often destructive cyber-attacks that can severely disrupt a company’s business operations. And this is a big problem, because, first and foremost, customers rely on a company’s ability to deliver services or products in a timely manner. Cyber-attacks not only can affect customers’ data, but they can impact service delivery.
In one of the recent incidents, the UK’s discount retailer The Works has been forced to temporarily shut down some of its stores after a ransomware attack. While the tech team quickly shut down the company’s computers after being alerted to the security breach by the firewall system, the attack caused disruption to deliveries and store functionality including till operations.
A cyber security incident can greatly affect a business due to the consequences associated with cyber-attacks like potential lawsuits, hefty fines and damage payments, insurance rate hikes, criminal investigations and bad publicity. For example, shares of Okta, a major provider of authentication services, fell 9% after the company revealed it was a victim of a major supply chain incident via an attack on a third-party contractor’s laptop, which affected some of its customers.
Another glaring example is a 2021 cyber-attack launched by the Russian-speaking ransomware gang called DarkSide against the operator of one of the US’ largest fuel pipelines Colonial Pipeline, which crippled fuel delivery across the Southeastern United States impacting lives of millions due to supply shortages. Colonial paid the DarkSide hackers a $4.4 million ransom soon after the incident. The attackers also stole nearly 100GB of data from Colonial Pipeline and threatened to leak it if the ransom wasn’t paid. It’s also worth noting that the company is now facing a nearly $1 million penalty for failure “to plan and prepare for a manual restart and shutdown operation, which contributed to the national impacts after the cyber-attack.”
Data breaches and costs associated with them have been on the rise for the past few years, but, according to a 2021 report, the average cost per breach increased from $3.86 million in 2020 to $4.24 million in 2021. The report also identified four categories contributing most global data breach costs – Lost business cost (38%), Detection and escalation (29%), Post breach response (27%), and Notification (6%).
Ransomware attacks cost an average of $4.62 million (the cost of a ransom is not included), and destructive wiper-style attacks cost an average of $4.69 million, the report said.
For a business, a data breach is not just a loss of data, it can also have a long-lasting impact on operations and undermine customers’ trust in the company. In fact, a survey revealed that 87% of consumers are willing to take their business elsewhere if they don’t trust a company is handling their data responsibly. Therefore, the reputational damage might be detrimental to a business’ ability to attract new customers.
34 Russian Cyber Crime Groups Stole Over 50 Million Passwords with Stealer Malware
As many as 34 Russian-speaking gangs, distributing information-stealing malware under the stealer-as-a-service model, stole no fewer than 50 million passwords in the first seven months of 2022.
"The underground market value of stolen logs and compromised card details is estimated around $5.8 million" Singapore-headquartered Group-IB said in a report shared with The Hacker News.
Aside from looting passwords, the stealers also harvested 2.11 billion cookie files, 113,204 crypto wallets, and 103,150 payment cards.
A majority of the victims were located in the US, followed by Brazil, India, Germany, Indonesia, the Philippines, France, Turkey, Vietnam, and Italy. In total, over 890,000 devices in 111 countries were infected during the time frame.
Group-IB said the members of several scam groups who are propagating the information stealers previously participated in the Classiscam operation. These groups, which are active on Telegram and have around 200 members on average, are hierarchical, consisting of administrators and workers (or traffers), the latter of whom are responsible for driving unsuspecting users to info-stealers like RedLine and Raccoon. This is achieved by setting up bait websites that impersonate well-known companies and luring victims into downloading malicious files. Links to such websites are, in turn, embedded into YouTube video reviews for popular games and lotteries on social media, or shared directly with non-fungible token (NFT) artists.
https://thehackernews.com/2022/11/34-russian-hacker-groups-stole-over-50.html
“Password” Continues to Be the Most Common Password in 2022
You would think the time spent working from home in the last two years or so helped netizens across the planet figure out how to master the world of WWW in a more efficient manner.
But new research from NordPass shows that despite so many people relying on an Internet connection for their daily activities, few actually care about the security of their data when they go online.
As a result, “password” continues to be the number one password out there, with the aforementioned company claiming that this particular keyword was detected close to 5 million times in a 3TB database. It takes less than one second to crack this password, the company says.
“123456” is currently the second most-used password worldwide, followed by its longer sibling known as “123456789” because, you know, hackers don’t know how to count to 10.
“There’s more than one way to get swindled on Tinder: using “tinder” as your password is more risky than swiping right on a billionaire. In total, this password was used 36,384 times” NordPass says. “The glitziest film industry event of the year – the Oscars ceremony – inspired many to use not-so-glitzy passwords: the password “Oscars” was used 62,983 times.”
Of course, it’s no surprise that Internet users out there turn to movies to get inspiration for their passwords, so unfortunately, “batman” is currently one of the most used keywords supposed to secure Internet accounts.
“Films and shows like Batman, Euphoria, and Encanto were among the most popular releases in 2021/2022. All are also popular passwords: “batman” was used 2,562,776 times, “euphoria” 53,993, and “encanto” 10,808 times,” the company says.
The most common password in the United States is “guest,” while in the United Kingdom, quite a lot of people go for “liverpool” (despite hackers needing just 1 second to crack it).
Lasts Year’s Massive Twitter Data Breach Was Far Worse Than Reported, Reveal Security Researchers
A massive Twitter data breach last year, exposing more than five million phone numbers and email addresses, was worse than initially reported. The same security vulnerability appears to have been exploited by multiple bad actors, and the hacked data has been offered for sale on the dark web by several sources.
It had previously been thought that only one hacker gained access to the data, and Twitter’s belated admission reinforced this impression. HackerOne first reported the vulnerability back in January, which allowed anyone to enter a phone number or email address, and then find the associated twitterID. This is an internal identifier used by Twitter, but can be readily converted to a Twitter handle. A bad actor would be able to put together a single database which combined Twitter handles, email addresses, and phone numbers.
At the time, Twitter admitted that the vulnerability had existed, and subsequently been patched, but said nothing about anyone exploiting it. Restore Privacy subsequently reported that a hacker had indeed used the vulnerability to obtain personal data from millions of accounts.
https://9to5mac.com/2022/11/25/massive-twitter-data-breach/
European Parliament Declares Russia to be a State Sponsor of Terrorism – Then Gets Attacked
On Wednesday, the European Parliament adopted a resolution on the latest developments in Russia’s brutal war of aggression against Ukraine. MEPs highlight that the deliberate attacks and atrocities committed by Russian forces and their proxies against civilians in Ukraine, the destruction of civilian infrastructure and other serious violations of international and humanitarian law amount to acts of terror and constitute war crimes. In light of this, they recognise Russia as a state sponsor of terrorism and as a state that “uses means of terrorism”.
As the EU currently cannot officially designate states as sponsors of terrorism, the European Parliament calls on the EU and its member states to put in place the proper legal framework and consider adding Russia to such a list. This would trigger a number of significant restrictive measures against Moscow and have profound restrictive implications for EU relations with Russia.
In the meantime, MEPs call on the Council to include the Russian paramilitary organisation ‘the Wagner Group’, the 141st Special Motorized Regiment, also known as the “Kadyrovites”, and other Russian-funded armed groups, militias and proxies, on the EU’s terrorist list.
Almost immediately after the vote the European Parliament suffered a sustained denial of service attack that shut down email services and disrupted internet access for more than an hour. A pro-Russian group called KILLNET then claimed responsibility in a Telegram post.
The Changing Nature of Nation-State Cyber Warfare
Military conflict is ever shifting from beyond the battlefield and into cyber space. Ever more sophisticated and ruthless groups of nation-state actors and their proxies continue to target critical systems and infrastructure for political and ideological leverage. These criminals’ far-reaching objectives include intelligence gathering, financial gain, destabilising other nations, hindering communications, and the theft of intellectual property.
The risks to individuals and society are clear. Due to its importance to daily life and the economy, the UK’s critical national infrastructure (CNI) is a natural target for malicious nation-state cyber-attacks. We only need look at the Colonial Pipeline ransomware attack in the US – at the hands of the Russia-affiliated DarkSide group – to appreciate the potential for one criminal act to escalate and cause large-scale societal impact: panic and disruption. Even though the pipeline was shut down for less than a week, the havoc caused by suspending fuel supplies gave CNI operators everywhere a worrying taste of things to come.
Closer to home, the recent cyber attack on South Staffordshire Water highlights the need for all utilities providers to take proactive measures and precautions to better secure essential human sustenance supplies. With the risk of coordinated attacks by criminals backed by nation states rising, the potential for human casualties if attacks against CNI go unchecked is becoming starkly clear.
The Russia-Ukraine war has heightened awareness of the cyber threats posed by all nation-state adversaries. Unsurprisingly, challenges and conflicts in the physical world tend to bleed through into the cyber domain. And with relations between Western nations and Russia, China, Iran, and North Korea more fraught than ever, UK organisations can expect to see further increases in cyber threats at the hands of hostile nation-state actors.
https://informationsecuritybuzz.com/the-changing-nature-of-nation-state-cyber-warfare/
Is Your Company Covered for a Cyber Security Attack? That’s the £2 Million Question
Cyber crime continues to be a persistent and pressing issue for all sized businesses, particularly smaller organisations. In fact, according to the National Cyber Security Alliance, nearly 60% of small businesses that experience a cyber attack shut their doors within six months.
Despite the continuing rise in risk, many small businesses remain vulnerable to cyber attacks due to a lack of resources and – surprisingly – a lack of knowledge of the existing threats. Moreover, companies are now being exposed to cyber risks even further as they struggle to get appropriate cyber insurance, which, if needed, can be devastating should bad actors circumvent your company’s defences.
Cyber insurance is a policy that helps an organisation pay for any financial losses incurred following a data breach or cyber attack. It also helps cover any costs related to the remediation process, such as paying for the investigation, crisis communication, legal services, and customer refunds.
With the constant – and ever-increasing – threat of potential cyber attacks and the need to protect their assets, many companies are applying for cyber insurance, which generally covers a variety of different types of cyber-attacks, including data breaches; business email compromises; cyber extortion demands; malware infections and ransomware.
But, despite the benefits of cyber insurance, it remains surprisingly undervalued. The UK government’s Cyber Security Breaches Survey 2022 found that only 43% of businesses have a cyber insurance policy in place.
Organisations must always seek cost-effective ways to address the cyber security risks they face – as no business is safe in the modern security landscape from a cyber threat. One of the most common ways to mitigate the risk of a cyber security incident is cyber insurance. While all-sized businesses can benefit from having cyber insurance, small businesses frequently lack the knowledge and importance of securing it. This is usually because of the cost, the time involved in finding a provider, and a lack of understanding of the importance of a cyber insurance policy.
Threats
Ransomware and Extortion
Yanluowang Ransomware's Russian Links Laid Bare - Infosecurity Magazine (infosecurity-magazine.com)
Fake subscription invoices lead to corporate data theft and extortion - Help Net Security
Ransomware gang targets Belgian municipality, hits police instead (bleepingcomputer.com)
New ransomware encrypts files, then steals your Discord account (bleepingcomputer.com)
Donut extortion group also targets victims with ransomware (bleepingcomputer.com)
Daixin Ransomware Gang Steals 5 Million AirAsia Passengers' and Employees' Data (thehackernews.com)
Ransomware attacks: Making cyber ransom payments unlawful would help boards (afr.com)
An aggressive Black Basta Ransomware campaign targets US-based companies - Security Affairs
Luna Moth ransomware group invests in call centres to target individual victims - SiliconANGLE
New ransomware attacks in Ukraine linked to Russian Sandworm hackers (bleepingcomputer.com)
Cybereason warns of fast-moving Black Basta campaign (techtarget.com)
Enterprise healthcare providers warned of Lorenz ransomware threat | SC Media (scmagazine.com)
Montreal-area city hit by ransomware: Report | IT World Canada News
Phishing & Email Based Attacks
Google Blocks 231B Spam, Phishing Emails in Past 2 Weeks (darkreading.com)
World Cup phishing emails spike in Middle Eastern countries • The Register
Microsoft Email Security Bypasses Instagram Credential Phishing Attacks - IT Security Guru
Researcher warns that Cisco Secure Email Gateways can easily be circumvented - Security Affairs
SocGholish finds success through novel email techniques | SC Media (scmagazine.com)
BEC – Business Email Compromise
Malware
Cyber criminals are increasingly using info-stealing malware to target victims | CSO Online
A security firm hacked malware operators, locking them out of their own C&C servers | TechSpot
Emotet is back and delivers payloads like IcedID and Bumblebee - Security Affairs
All You Need to Know About Emotet in 2022 (thehackernews.com)
New attacks use Windows security bypass zero-day to drop malware (bleepingcomputer.com)
Multi-Purpose Botnet and Infostealer 'Aurora' Rising to Fame | SecurityWeek.Com
DUCKTAIL malware campaign targeting Facebook business and ads accounts is back | CSO Online
Aurora infostealer malware increasingly adopted by cybergangs (bleepingcomputer.com)
This new malware is able to bypass all of Microsoft's security warnings | TechRadar
Backdoored Chrome extension installed by 200,000 Roblox players (bleepingcomputer.com)
Mobile
'Patch Lag' Leaves Millions of Android Devices Vulnerable (darkreading.com)
Millions of Android Devices Still Don't Have Patches for Mali GPU Flaws (thehackernews.com)
Your iPhone may be collecting more personal data than you think | Digital Trends
Bahamut cybermercenary group targets Android users with fake VPN apps | WeLiveSecurity
WhatsApp data leak: 500 million user records for sale | Cybernews
Internet of Things – IoT
Data Breaches/Leaks
WhatsApp data leak: 500 million user records for sale - Security Affairs
California County Says Personal Information Compromised in Data Breach | SecurityWeek.Com
Organised Crime & Criminal Actors
Russian cyber gangs stole over 50 million passwords this year (bleepingcomputer.com)
How social media scammers buy time to steal your 2FA codes – Naked Security (sophos.com)
DEV-0569 Group Switches Tactics, Abuses Google Ads to Deliver Payloads | Cyware Alerts - Hacker News
Hackers are locking out Mars Stealer operators from their own servers | TechCrunch
Cryptocurrency/Cryptomining/Cryptojacking/NFTs/Blockchain
Bank Of England Says Crypto Needs Regulation Now - Information Security Buzz
Two Estonians arrested for running $575M crypto Ponzi scheme (bleepingcomputer.com)
Cyber crooks to ditch BTC as regulation and tracking improves: Kaspersky (cointelegraph.com)
Google Chrome extension used to steal cryptocurrency, passwords (bleepingcomputer.com)
Bahamas SEC Or Hacker? Stolen Funds From FTX Keep On Moving (bitcoinist.com)
Fraud, Scams & Financial Crime
'iSpoof' service dismantled, main operator and 145 users arrested (bleepingcomputer.com)
Operation Elaborate - UK police text 70,000 suspected victims of iSpoof bank fraudsters | Tripwire
DUCKTAIL malware campaign targeting Facebook business and ads accounts is back | CSO Online
Beware - Black Friday online shopping scams are here now | TechRadar
Online retailers should prepare for a holiday season spike in bot-operated attacks | CSO Online
Pig butchering domains seized and slaughtered by the Feds • The Register
Insurance
Software Supply Chain
Denial of Service DoS/DDoS
Cloud/SaaS
Hybrid/Remote Working
Identity and Access Management
Encryption
API
5 API Vulnerabilities That Get Exploited by Criminals - Security Affairs
Three security design principles for public REST APIs - Help Net Security
Passwords, Credential Stuffing & Brute Force Attacks
Russian cyber gangs stole over 50 million passwords this year (bleepingcomputer.com)
Guess the most common password. Hint: We just told you • The Register
World Cup Players Among Most Breached Passwords - IT Security Guru
Google Chrome extension used to steal cryptocurrency, passwords (bleepingcomputer.com)
Microsoft Email Security Bypasses Instagram Credential Phishing Attacks - IT Security Guru
Hackers steal $300,000 in DraftKings credential stuffing attack (bleepingcomputer.com)
Social Media
Ducktail hackers now use WhatsApp to phish for Facebook Ad accounts (bleepingcomputer.com)
Cyber security Pros Put Mastodon Flaws Under the Microscope (darkreading.com)
Musk to abused Twitter users: Your tormentors will return • The Register
Facebook sued for collecting personal data to sell adverts | News | The Times
DUCKTAIL malware campaign targeting Facebook business and ads accounts is back | CSO Online
Microsoft Email Security Bypasses Instagram Credential Phishing Attacks - IT Security Guru
Beyond Trump, Twitter welcomes back purveyors of far-right disinformation - CyberScoop
Cyber Bullying, Cyber Stalking and Sextortion
Regulations, Fines and Legislation
Bank Of England Says Crypto Needs Regulation Now - Information Security Buzz
How US cyber incident reporting law could finally fix the information sharing problem - CyberScoop
Law Enforcement Action and Take Downs
Operation Elaborate - UK police text 70,000 suspected victims of iSpoof bank fraudsters | Tripwire
'iSpoof' service dismantled, main operator and 145 users arrested (bleepingcomputer.com)
Privacy, Surveillance and Mass Monitoring
iPhones are not as privacy-focused as Apple claims, researchers point out - India Today
Thinking about taking your computer to the repair shop? Be very afraid | Ars Technica
Misinformation, Disinformation and Propaganda
Spyware, Cyber Espionage & Cyber Warfare, including Russian Invasion of Ukraine
Ukraine shows how space is now central to warfare | Financial Times (ft.com)
New ransomware attacks in Ukraine linked to Russian Sandworm hackers (bleepingcomputer.com)
EU Parliament Putin things back together after cyber attack • The Register
Opinion | Democracies flirting with spyware like Pegasus raises dangers - The Washington Post
Scotland's broadband builder linked to Israeli spyware | HeraldScotland
Russia-based RansomBoggs Ransomware Targeted Several Ukrainian Organisations (thehackernews.com)
Nation State Actors
Nation State Actors – Russia
Russian Tech Giant Wants Out of the Country As Ukraine War Rages on (insider.com)
Yanluowang Ransomware's Russian Links Laid Bare - Infosecurity Magazine (infosecurity-magazine.com)
Nation State Actors – China
Vulnerability Management
Vulnerabilities
73 Percent of Retail Applications Contain Security Flaws, but Only a Quarter Are Fixed (yahoo.com)
Researcher warns that Cisco Secure Email Gateways can easily be circumvented - Security Affairs
AWS fixes 'confused deputy' vulnerability in AppSync • The Register
How to hack an unpatched Exchange server with rogue PowerShell code – Naked Security (sophos.com)
Google pushes emergency Chrome update to fix 8th zero-day in 2022 (bleepingcomputer.com)
Upgrade to Apache Commons Text 1.10 to Avoid New Exploit (infoq.com)
Security experts are laying Mastodon's flaws bare | TechRadar
Devices from Dell, HP, and Lenovo used outdated OpenSSL versions - Security Affairs
PoC Code Published for High-Severity macOS Sandbox Escape Vulnerability | SecurityWeek.Com
5 API Vulnerabilities That Get Exploited by Criminals - Security Affairs
Reports Published in the Last Week
Other News
Know thy enemy: thinking like a hacker can boost cyber security strategy | CSO Online
Security Culture Matters when IT is Decentralized (trendmicro.com)
Legacy IT system modernization largely driven by security concerns - Help Net Security
Been Doing It The Same Way For Years? Think Again. (thehackernews.com)
Docker Hub repositories hide over 1,650 malicious containers (bleepingcomputer.com)
How Tech Companies Can Slow Down Spike in Breaches (darkreading.com)
Inventor of the Web Sir Tim Berners-Lee wants to save your data from Big Tech with Web3.0 | Euronews
Deloitte reveals 10 strategic cyber security predictions for 2023 | VentureBeat
The Biden administration has racked up a host of cyber security accomplishments | CSO Online
US Navy Forced to Pay Software Company for Licensing Breach (gizmodo.com)
Sector Specific
Industry specific threat intelligence reports are available.
Contact us to receive tailored reports specific to the industry/sector and geographies you operate in.
· Automotive
· Construction
· Critical National Infrastructure (CNI)
· Defence & Space
· Education & Academia
· Energy & Utilities
· Estate Agencies
· Financial Services
· FinTech
· Food & Agriculture
· Gaming & Gambling
· Government & Public Sector (including Law Enforcement)
· Health/Medical/Pharma
· Hotels & Hospitality
· Insurance
· Legal
· Manufacturing
· Maritime
· Oil, Gas & Mining
· OT, ICS, IIoT, SCADA & Cyber-Physical Systems
· Retail & eCommerce
· Small and Medium Sized Businesses (SMBs)
· Startups
· Telecoms
· Third Sector & Charities
· Transport & Aviation
· Web3
As usual, contact us to help assess where your risks lie and to ensure you are doing all you can do to keep you and your business secure.
Look out for our ‘Cyber Tip Tuesday’ video blog and on our YouTube channel.
You can also follow us on Facebook, Twitter and LinkedIn.
Links to articles are for interest and awareness and linking to or reposting external content does not endorse any service or product, likewise we are not responsible for the security of external links.
Black Arrow Cyber Threat Briefing 22 July 2022
Black Arrow Cyber Threat Briefing 22 July 2022
-Insurer Refuses to Pay Out After Victim Misrepresented Their Cyber Controls
-5 Cyber Security Questions CFOs Should Ask CISOs
-The Biggest Cyber Attacks in 2022 So Far — and it’s Just the Tip of the Iceberg
-Malware-as-a-Service Creating New Cyber Crime Ecosystem
-The Rise and Continuing Popularity of LinkedIn-Themed Phishing
-Microsoft Teams Default Settings Leave Organisations Open to Cyber Attacks
-Top 10 Cyber Security Attacks of Last Decade Show What is to Come
-Software Supply Chain Concerns Reach C-Suite
-EU Warns of Russian Cyber Attack Spillover, Escalation Risks
-Critical Flaws in GPS Tracker Enable “Disastrous” and “Life-Threatening” Hacks
-Russian Hackers Behind Solarwinds Breach Continue to Scour US And European Organisations for Intel, Researchers Say
-The Next Big Security Threat Is Staring Us in The Face. Tackling It Is Going to Be Tough
Welcome to this week’s Black Arrow Cyber Threat Briefing – a weekly digest, collated and curated by our cyber experts to provide senior and middle management with an easy to digest round up of the most notable threats, vulnerabilities, and cyber related news from the last week.
Top Cyber Stories of the Last Week
Insurer Refuses to Pay Out After Victim Misrepresented Their Cyber Controls
In what may be one of the first court filings of its kind, insurer Travelers is asking a district court for a ruling to rescind a policy because the insured allegedly misrepresented its use of multifactor authentication (MFA) – a condition to get cyber coverage.
According to a July filing, Travelers said it would not have issued a cyber insurance policy in April to electronics manufacturing services company International Control Services (ICS) if the insurer knew the company was not using MFA as it said. Additionally, Travelers wants no part of any losses, costs, or claims from ICS – including from a May ransomware attack ICS suffered.
Travelers alleged ICS submitted a cyber policy application signed by its CEO and “a person responsible for the applicant’s network and information security” that the company used MFA for administrative or privileged access. However, following the May ransomware event, Travelers first learned during an investigation that the insured was not using the security control to protect its server and “only used MFA to protect its firewall, and did not use MFA to protect any other digital assets.”
Therefore, statements ICS made in the application were “misrepresentations, omissions, concealment of facts, and incorrect statements” – all of which “materially affected the acceptance of the risk and/or the hazard assumed by Travelers,” the insurer alleged in the filing.
ICS also was the victim of a ransomware attack in December 2020 when hackers gained access using the username and password of an ICS administrator, Travelers said. ICS told the insurer of the attack during the application process and said it improved the company’s cyber security.
Travelers said it wants the court to declare the insurance contract null and void, rescind the policy, and declare it has no duty to indemnify or defend ICS for any claim.
https://www.insurancejournal.com/news/national/2022/07/12/675516.htm#
5 Cyber Security Questions CFOs Should Ask CISOs
Armed with the answers, chief financial officers can play an essential role in reducing cyber risk.
Even in a shrinking economy, organisations are likely to maintain their level of cyber security spend. But that doesn’t mean in the current economic climate of burgeoning costs and a possible recession they won’t take a magnifying glass to how they are spending the money budgeted to defend systems and data. Indeed, at many companies, cyber security spending isn’t targeting the most significant dangers, according to experts — as evidenced by the large number of successful ransomware attacks and data breaches.
Without a comprehensive understanding of the security landscape and what the organisation needs to do to protect itself, how can CFOs make the right decisions when it comes to investments in cyber security technology and other resources? They can’t.
So, CFOs need to ensure they have a timely grasp of the security issues their organisation faces. That requires turning to the most knowledgeable people in the organisation: chief information security officers (CISOs) and other security leaders on the IT front lines.
Here are five questions CFOs should be asking their CISOs about the security of their companies.
How secure are we as an organisation?
What are the main security threats or risks in our industry?
How do we ensure that the cyber security team and the CISO are involved in business development?
What are the risks and potential costs of not implementing a cyber control?
Do employees understand information security and are they implementing security protocols successfully?
The Biggest Cyber Attacks in 2022 So Far — and it’s Just the Tip of the Iceberg
For those in the cyber resilience realm, it’s no surprise that there’s a continued uptick in cyber attacks. Hackers are hacking, thieves are thieving and ransomers are — you guessed it — ransoming. In other words, cyber crime is absolutely a growth industry.
As we cross into the second half of this year, let’s look at some of the most significant attacks so far:
Blockchain schmockchain. Cryptocurrency exchange Crypto.com’s two-factor-identification (2FA) system was compromised as thieves made off with approximately $30 million.
Still the one they run to. Microsoft’s ubiquity makes it a constant target. Earlier this year, the hacking collective Lapsus$ compromised Cortana and Bing, among other Microsoft products, posting source code online.
Not necessarily the news. News Corp. journalist emails and documents were accessed at properties including the Wall Street Journal, Dow Jones and the New York Post in a hack tied to China.
Uncharitable ways. The Red Cross was the target of an attack earlier this year, with more than half a million “highly vulnerable” records of Red Cross assistance recipients compromised.
Victim of success. North Korea’s Lazarus Group made off with $600 million in cryptocurrencies after blockchain gaming platform Ronin relaxed some of its security protocols so its servers could better handle its growing popularity.
We can hear you now. State-sponsored hackers in China have breached global telecom powerhouses worldwide this year, according to the U.S. Cybersecurity & Infrastructure Security Agency.
Politics, the art of the possible. Christian crowdfunding site GiveSendGo was breached twice this year as hacktivists exposed the records of donors to Canada’s Freedom Convoy.
Disgruntled revenge. Businesspeople everywhere were reminded of the risks associated with departing personnel when fintech powerhouse Block announced that a former employee accessed sensitive customer information, impacting eight million customers.
Unhealthy habits. Two million sensitive customer records were exposed when hackers breached Shields Health Care’s network.
They even stole the rewards points. General Motors revealed that hackers used a credentials stuffing attack to access personal information on an undisclosed number of car owners. They even stole gift-card-redeemable customer reward points.
For every breach or attack that generates headlines, millions of others that we never hear about put businesses at risk regularly. The Anti-Phishing Working Group just released data for the first quarter of this year, and the trend isn’t good. Recorded phishing attacks are at an all-time high (more than a million in just the first quarter) and were accelerating as the quarter closed, with March 2022 setting a new record for single-month attacks.
Malware-as-a-Service Creating New Cyber Crime Ecosystem
This week HP released their report The Evolution of Cybercrime: Why the Dark Web is Supercharging the Threat Landscape and How to Fight Back, exploring how cyber-criminals are increasingly operating in a quasi-professional manner, with malware and ransomware attacks being offered on a ‘software-as-a-service’ basis.
The report’s findings showed how cyber crime is being supercharged through “plug and play” malware kits that are easier than ever to launch attacks. Additionally, cyber syndicates are now collaborating with amateur attackers to target businesses, putting the online world and its users at risk.
The report’s methodology saw HP’s Wolf Security threat team work in tandem with dark-web investigation firm Forensic Pathways to scrape and analyse over 35 million cyber criminal marketplaces and forum posts between February and March 2022, with the investigation helping to gain a deeper understanding of how cyber criminals operate, gain trust, and build reputation. Its key findings include:
Malware is cheap and readily available: Over three-quarters (76%) of malware advertisements listed, and 91% of exploits (i.e. code that gives attackers control over systems by taking advantage of software bugs), retail for under $10.
Trust and reputation are ironically essential parts of cyber-criminal commerce: Over three-quarters (77%) of cyber criminal marketplaces analysed require a vendor bond – a license to sell – which can cost up to $3000. Of these, 92% have a third-party dispute resolution service.
Popular software is giving cyber criminals a foot in the door: Kits that exploit vulnerabilities in niche systems command the highest prices (typically ranging from $1,000-$4,000), while zero day vulnerabilities are retailing at 10s of thousands of pounds on dark web markets.
https://www.infosecurity-magazine.com/news/malware-service-cybercrime/
The Rise and Continuing Popularity of LinkedIn-Themed Phishing
Phishing emails impersonating LinkedIn continue to make the bulk of all brand phishing attempts. According to Check Point, 45% of all email phishing attempts in Q2 2022 imitated the style of communication of the professional social media platform, with the goal of directing targets to a spoofed LinkedIn login page and collecting their account credentials.
The phishers are generally trying to pique the targets’ interest with fake messages claiming that they “have appeared in X searches this week”, that a new message is waiting for them, or that another user would like to do business with them, and are obviously taking advantage of the fact that a record number of individuals are switching or are considering quitting their job and are looking for a new one.
To compare: In Q4 2021, LinkedIn-themed phishing attempts were just 8 percent of the total brand phishing attacks flagged by Check Point. Also, according to Vade Secure, in 2021 the number of LinkedIn-themed phishing pages linked from unique phishing emails was considerably lower than those impersonating other social networks (Facebook, WhatsApp).
Other brands that phishers loved to impersonate during Q2 2022 are (unsurprisingly) Microsoft (13%), DHL (12%) and Amazon (9%).
https://www.helpnetsecurity.com/2022/07/21/linkedin-phishing/
Microsoft Teams Default Settings Leave Organisations Open to Cyber Attacks
Relying on default settings on Microsoft Teams leaves organisations and users open to threats from external domains, and misconfigurations can prove perilous to high-value targets.
Microsoft Teams has over 270 million active monthly users, with government institutions using the software in the US, UK, Netherlands, Germany, Lithuania, and other countries at varying levels.
Cyber security researchers have discovered that relying on default MS Teams settings can leave firms and high-value users vulnerable to social engineering attacks. Attackers could create group chats, masquerade as seniors within the target organisation and observe whether users are online.
Attackers could, rather convincingly, impersonate high-ranking officials and possibly strike up conversations, fooling victims into believing they’re discussing sensitive topics with a superior. Skilled attackers could do a lot of harm with this capability.
https://cybernews.com/security/microsoft-teams-settings-leave-govt-officials-open-to-cyberattacks/
Top 10 Cyber Security Attacks of Last Decade Show What is to Come
Past is prologue, wrote William Shakespeare in his play “The Tempest,” meaning that the present can often be determined by what has come before. So it is with cyber security, serving as the basis of which is Trustwave’s “Decade Retrospective: The State of Vulnerabilities” over the last 10 years.
Threat actors frequently revisit well-known and previously patched vulnerabilities to take advantage of continuing poor cyber security hygiene. “If one does not know what has recently taken place it leaves you vulnerable to another attack,” Trustwave said in its report that identifies and examines the “watershed moments” that shaped cyber security between 2011 and 2021.
With a backdrop of the number of security incidents and vulnerabilities increasing in volume and sophistication, here are Trustwave’s top 10 network vulnerabilities in no particular order that defined the decade and “won’t be forgotten.”
SolarWinds hack and FireEye breach, Detected: December 8, 2020 (FireEye)
EternalBlue Exploit, Detected: April 14, 2017
Heartbleed, Detected: March 21, 2014
Shellshock, Remote Code Execution in BASH, Detected: September 12, 2014
Apache Struts Remote Command Injection & Equifax Breach, Detected: March 6, 2017
Chipocalypse, Speculative Execution Vulnerabilities Meltdown & Spectre
BlueKeep, Remote Desktop as an Access Vector, Detected: January, 2018
Drupalgeddon Series, CMS Vulnerabilities, Detected: January, 2018
Microsoft Windows OLE Vulnerability, Sandworm Exploit, Detected: September 3, 2014
Ripple20 Vulnerabilities, Growing IoT landscape, Detected: June 16, 2020
Software Supply Chain Concerns Reach C-Suite
Major supply chain attacks have had a significant impact on software security awareness and decision-making, with more investment planned for monitoring attack surfaces.
Organisations are waking up to the need to establish better software supply chain risk management policies and are taking action to address the escalating threats and vulnerabilities targeting this expanding attack surface.
These were among the findings of a CyberRisk Alliance-conducted survey of 300 respondents from both software-buying and software-producing companies.
Most survey respondents (52%) said they are "very" or "extremely" concerned about software supply chain risks, and 84% of respondents said their organisation is likely to allocate at least 5% of their AppSec budgets to manage software supply chain risk.
Software buyers are planning to invest in procurement program metrics and reporting, application pen-testing, and software build of materials (SBOM) design and implementation, according to the findings.
Meanwhile, software developers said they plan to invest in secure code review as well as SBOM design and implementation.
https://www.darkreading.com/application-security/software-supply-chain-concerns-reach-c-suite
EU Warns of Russian Cyber Attack Spillover, Escalation Risks
The Council of the European Union (EU) said that Russian hackers and hacker groups increasingly attacking "essential" organisations worldwide could lead to spillover risks and potential escalation.
"This increase in malicious cyber activities, in the context of the war against Ukraine, creates unacceptable risks of spillover effects, misinterpretation and possible escalation," the High Representative on behalf of the EU said.
"The latest distributed denial-of-service (DDoS) attacks against several EU Member States and partners claimed by pro-Russian hacker groups are yet another example of the heightened and tense cyber threat landscape that EU and its Member States have observed."
In this context, the EU reminded Russia that all United Nations member states must adhere to the UN's Framework of responsible state behaviour in cyberspace to ensure international security and peace.
The EU urged all states to take any actions required to stop malicious cyber activities conducted from their territory.
The EU's statement follows a February joint warning from CISA and the FBI that wiper malware attacks targeting Ukraine could spill over to targets from other countries.
Google's Threat Analysis Group (TAG) said in late March that it observed phishing attacks orchestrated by the Russian COLDRIVER hacking group against NATO and European military entities.
In May, the US, UK, and EU accused Russia of coordinating a massive cyber attack that hit the KA-SAT consumer-oriented satellite broadband service in Ukraine on February 24 with AcidRain data destroying malware, approximately one hour before Russia invaded Ukraine.
A Microsoft report from June also confirms the EU's observation of an increase in Russian malicious cyber activities. The company's president said that threat groups linked to Russian intelligence agencies (including the GRU, SVR, and FSB) stepped up cyber attacks against government entities in countries allied with Ukraine after Russia's invasion.
In related news, in July 2021, President Joe Biden warned that cyber attacks leading to severe security breaches could lead to a "real shooting war," a statement issued a month after NATO said that cyber attacks could be compared to "armed attacks" in some circumstances.
Critical Flaws in GPS Tracker Enable “Disastrous” and “Life-Threatening” Hacks
A security firm and the US government are advising the public to immediately stop using a popular GPS tracking device or to at least minimise exposure to it, citing a host of vulnerabilities that make it possible for hackers to remotely disable cars while they’re moving, track location histories, disarm alarms, and cut off fuel.
An assessment from security firm BitSight found six vulnerabilities in the Micodus MV720, a GPS tracker that sells for about $20 and is widely available. The researchers who performed the assessment believe the same critical vulnerabilities are present in other Micodus tracker models. The China-based manufacturer says 1.5 million of its tracking devices are deployed across 420,000 customers. BitSight found the device in use in 169 countries, with customers including governments, militaries, law enforcement agencies, and aerospace, shipping, and manufacturing companies.
BitSight discovered what it said were six “severe” vulnerabilities in the device that allow for a host of possible attacks. One flaw is the use of unencrypted HTTP communications that makes it possible for remote hackers to conduct adversary-in-the-middle attacks that intercept or change requests sent between the mobile application and supporting servers. Other vulnerabilities include a flawed authentication mechanism in the mobile app that can allow attackers to access the hardcoded key for locking down the trackers and the ability to use a custom IP address that makes it possible for hackers to monitor and control all communications to and from the device.
Russian Hackers Behind Solarwinds Breach Continue to Scour US And European Organisations for Intel, Researchers Say
The Russian hackers behind a sweeping 2020 breach of US government networks have in recent months continued to hack US organisations to collect intelligence while also targeting an unnamed European government that is a NATO member.
The new findings show how relentless the hacking group — which US officials have linked with Russia's foreign intelligence service — is in its pursuit of intelligence held by the US and its allies, and how adept the hackers are at targeting widely used cloud-computing technologies.
The hacking efforts come as Russia's invasion of Ukraine continues to fray US-Russia relations and drive intelligence collection efforts from both governments.
In recent months, the hacking group has compromised the networks of US-based organisations that have data of interest to the Russian government.
In separate activity revealed Tuesday, US cyber security firm Palo Alto Networks said that the Russian hacking group had been using popular services like Dropbox and Google Drive to try to deliver malicious software to the embassies of an unnamed European government in Portugal and Brazil in May and June.
https://edition.cnn.com/2022/07/19/politics/russia-solarwinds-hackers/index.html
The Next Big Security Threat Is Staring Us in The Face. Tackling It Is Going to Be Tough
If the ongoing fight against ransomware wasn't keeping security teams busy, along with the challenges of securing the ever-expanding galaxy of Internet of Things devices, or cloud computing, then there's a new challenge on the horizon – protecting against the coming wave of digital imposters or deepfakes.
A deepfake video uses artificial intelligence and deep-learning techniques to produce fake images of people or events.
One recent example is when the mayor of Berlin thought he was having an online meeting with former boxing champion and current mayor of Kyiv, Vitali Klitschko. But the mayor of Berlin grew suspicious when 'Klitschko' started saying some very out of character things relating to the invasion of Ukraine, and when the call was interrupted the mayor's office contacted the Ukrainian ambassador to Berlin – to discover that, whoever they were talking to, it wasn't the real Klitschko.
It's a sign that deepfakes are getting more advanced and quickly. Previous instances of deepfake videos that have gone viral often have tell-tale signs that something isn't real, such as unconvincing edits or odd movements, but the developments in deepfake technology mean it isn't difficult to imagine it being exploited by cyber criminals, particularly when it comes to stealing money.
While ransomware might generate more headlines, business email compromise (BEC) is the costliest form of cyber crime today. The FBI estimates that it costs businesses billions of dollars every year. The most common form of BEC attack involves cyber criminals exploiting emails, hacking into accounts belonging to bosses – or cleverly spoofing their email accounts – and asking staff to authorise large financial transactions, which can often amount to hundreds of thousands of dollars.
The emails claim that the money needs to be sent urgently, maybe as part of a secret business deal that can't be disclosed to anyone. It's a classic social-engineering trick designed to force the victim into transferring money quickly and without asking for confirmation from anyone else who could reveal it's a fake request. By the time anyone might be suspicious, the cyber criminals have taken the money, likely closed the bank account they used for the transfer – and run.
BEC attacks are successful, but many people might remain suspicious of an email from their boss that comes out the blue and they could avoid falling victim by speaking to someone to confirm that it's not real. But if cyber criminals could use a deepfake to make the request, it could be much more difficult for victims to deny the request, because they believe they're actually speaking to their boss on camera.
Many companies publicly list their board of directors and senior management on their website. Often, these high-level business executives will have spoken at events or in the media, so it's possible to find footage of them speaking. By using AI-powered deep-learning techniques, cyber criminals could exploit this public information to create a deepfake of a senior-level executive, exploit email vulnerabilities to request a video call with an employee, and then ask them to make the transaction. If the victim believes they're speaking to their CEO or boss, they're unlikely to deny the request.
Threats
Ransomware
Post-Breakup, Conti Ransomware Members Remain Dangerous (darkreading.com)
The Kronos Ransomware Attack: What You Need to Know So Your Business Isn't Next (darkreading.com)
New Luna ransomware encrypts Windows, Linux, and ESXi systems (bleepingcomputer.com)
Digital security giant Entrust breached by ransomware gang (bleepingcomputer.com)
Protecting Against Kubernetes-Borne Ransomware (darkreading.com)
Knauf cyber attack: Black Basta ransomware gang claims responsibility (techmonitor.ai)
New Redeemer ransomware version promoted on hacker forums (bleepingcomputer.com)
Kaspersky report on Luna and Black Basta ransomware | Securelist
New Cross-Platform 'Luna' Ransomware Only Offered to Russian Affiliates | SecurityWeek.Com
Conti’s Reign of Chaos: Costa Rica in the Crosshairs | Threatpost
Researchers uncover potential ransomware network with U.S. connections - CyberScoop
How Conti ransomware hacked and encrypted the Costa Rican government (bleepingcomputer.com)
A small Canadian town is being extorted by a global ransomware gang - The Verge
BEC – Business Email Compromise
Phishing & Email Based Attacks
Phishing Bonanza: Social-Engineering Savvy Skyrockets as Malicious Actors Cash In (darkreading.com)
Outlook users report suspicious activity from Microsoft IPs • The Register
PayPal Used to Send Malicious “Double Spear” Invoices - Infosecurity Magazine
LinkedIn remains the most impersonated brand in phishing attacks (bleepingcomputer.com)
Google Calendar provides new way to block invitation phishing (bleepingcomputer.com)
Other Social Engineering
Malware
Hacking group '8220' grows cloud botnet to more than 30,000 hosts (bleepingcomputer.com)
Buy ‘plug-n-play’ malware for the price of a pint of beer (computerweekly.com)
New ‘Lightning Framework’ Linux malware installs rootkits, backdoors (bleepingcomputer.com)
Mobile
Google pulls malware-infected apps, 3 million users at risk • The Register
Roaming Mantis hits Android and iOS users in malware, phishing attacks (bleepingcomputer.com)
BYOD
Data Breaches/Leaks
Neopets data breach exposes personal data of 69 million members (bleepingcomputer.com)
Verified Twitter Vulnerability Exposes Data from 5.4 Million Accounts | RestorePrivacy
Mixed Messages as Neopets Scrambles to Respond to Mega Breach - Infosecurity Magazine
Organised Crime & Criminal Actors
Cyber crime escalates as barriers to entry crumble | CSO Online
Understanding the Evolution of Cyber Crime to Predict its Future | SecurityWeek.Com
The growth in targeted, sophisticated cyber attacks troubles top FBI cyber official - CyberScoop
'AIG' Threat Group Launches with Unique Business Model (darkreading.com)
US DOJ report warns of escalating cyber crime, 'blended' threats (techtarget.com)
Chaotic LAPSUS$ Group Goes Quiet, but Threat Likely Persists (darkreading.com)
Last member of Gozi malware troika arrives in US for criminal trial – Naked Security (sophos.com)
Romanian hacker faces US trial over virus-for-hire service - The Verge
Cryptocurrency/Cryptomining/Cryptojacking/NFTs/Blockchain
This Cloud Botnet Has Hijacked 30,000 Systems to Mine Cryptocurrencies (thehackernews.com)
Hackers Use Evilnum Malware to Target Cryptocurrency and Commodities Platforms (thehackernews.com)
Singapore distances itself from local crypto companies • The Register
FBI Warns Fake Crypto Apps are Bilking Investors of Millions | Threatpost
Ex-Coinbase manager charged in crypto insider trading case • The Register
FBI Warns of Fake Cryptocurrency Apps Stealing Millions from Investors (thehackernews.com)
My Big Coin founder guilty of $6m crypto-fraud • The Register
Insider Risk and Insider Threats
Fraud, Scams & Financial Crime
AML/CFT/Sanctions
UK Regulator Issues Record Fines as Financial Crime Surges - Infosecurity Magazine
Broker Fined £2m for Financial Crime Control Failings - Infosecurity Magazine
Insurance
82% of global insurers expect the rise in cyber insurance premiums to continue - Help Net Security
Will Your Cyber Insurance Premiums Protect You in Times of War? (darkreading.com)
Dark Web
Supply Chain and Third Parties
Software Supply Chain
Improving Software Supply Chain Cyber Security (trendmicro.com)
Why SBOMs aren't the silver bullet they're portrayed as - Help Net Security
Breaking down CIS's new software supply chain security guidance | CSO Online
Cloud/SaaS
60% of IT leaders are not confident about their secure cloud access - Help Net Security
Public Cloud Customers Admit Security Challenges - Infosecurity Magazine
The New Weak Link in SaaS Security: Devices (thehackernews.com)
Identity and Access Management
Encryption
Open Source
Open source security needs automation as usage climbs amongst organisations | ZDNet
New ‘Lightning Framework’ Linux malware installs rootkits, backdoors (bleepingcomputer.com)
The US military wants to understand the most important software on earth | MIT Technology Review
Passwords, Credential Stuffing & Brute Force Attacks
The importance of secure passwords can't be emphasized enough - Help Net Security
3rd Party Services Are Falling Short on Password Security (bleepingcomputer.com)
Okta Exposes Passwords in Clear Text for Possible Theft (darkreading.com)
Enforcing Password History in Your Windows AD to Curb Password Reuse (bleepingcomputer.com)
Social Media
LinkedIn remains the most impersonated brand in phishing attacks (bleepingcomputer.com)
Hacker selling Twitter account data of 5.4 million users for $30k (bleepingcomputer.com)
TikTok Engaging in Excessive Data Collection - Infosecurity Magazine
Privacy
Parental Controls and Child Safety
Regulations, Fines and Legislation
UK Regulator Issues Record Fines as Financial Crime Surges - Infosecurity Magazine
Legal Experts Concerned Over New UK Digital Reform Bill - Infosecurity Magazine
Understanding Proposed SEC Rules Through an ESG Lens (darkreading.com)
Spyware, Cyber Espionage & Cyber Warfare, including Russian Invasion of Ukraine
EU warns of risks of spillover effects associated with ongoing war - Security Affairs
US Cyber Command IDs new malware strains targeting Ukraine • The Register
Russian hackers use fake DDoS app to infect pro-Ukrainian activists (bleepingcomputer.com)
Experts Uncover New CloudMensis Spyware Targeting Apple macOS Users (thehackernews.com)
Hackers attempt to infiltrate Ukrainian tech company with backdoor malware, Talos says - CyberScoop
Will Your Cyber-Insurance Premiums Protect You in Times of War? (darkreading.com)
Hackers Target Ukrainian Software Company Using GoMet Backdoor (thehackernews.com)
Copycat DoS App Created by Russian Hackers to Target Ukraine - IT Security Guru
Albanian government websites go dark after cyber attack • The Register
Mysterious, Cloud-Enabled macOS Spyware Blows Onto the Scene (darkreading.com)
Belgium claims China-linked APT groups hit its ministries - Security Affairs
Nation State Actors
Nation State Actors – Russia
Google, EU Warn of Malicious Russian Cyber Activity | SecurityWeek.Com
Google warns Kremlin-backed goons pose as pro-Ukraine app • The Register
Russia Released a Ukrainian App for Hacking Russia That Was Actually Malware (vice.com)
Cloaked Ursa (APT29) Hackers Use Trusted Online Storage Services (paloaltonetworks.com)
Russian SVR hackers use Google Drive, Dropbox to evade detection (bleepingcomputer.com)
Russia, Iran discuss broad tech collaboration • The Register
Half of Russian spies in Europe expelled since Ukraine invasion, says MI6 chief | MI6 | The Guardian
Nation State Actors – China
Belgium says Chinese APT gangs attacked its government • The Register
Government blocks Chinese tech deal on national security grounds | Business News | Sky News
Nation State Actors – North Korea
Nation State Actors – Iran
Nation State Actors – Misc APT
Vulnerability Management
Vulnerabilities
Chrome 103 Update Patches High-Severity Vulnerabilities | SecurityWeek.Com
Critical Bugs Threaten to Crack Atlassian Confluence Workspaces Wide Open (darkreading.com)
WordPress Page Builder Plug-in Under Attack, Can't Be Patched (darkreading.com)
SonicWall: Patch critical SQL injection bug immediately (bleepingcomputer.com)
Cisco fixes bug that lets attackers execute commands as root (bleepingcomputer.com)
Atlassian reveals critical flaws across its product line • The Register
Netwrix Auditor Vulnerability Can Facilitate Attacks on Enterprises | SecurityWeek.Com
Azure's Security Vulnerabilities Are Out of Control - Last Week in AWS Blog
Oracle Releases 349 New Security Patches With July 2022 CPU | SecurityWeek.Com
0-day used to infect Chrome users could pose threat to Edge and Safari users, too | Ars Technica
Juniper Networks Patches Over 200 Third-Party Component Vulnerabilities | SecurityWeek.Com
Google Chrome Zero-Day Weaponized to Spy on Journalists (darkreading.com)
Apple Ships Urgent Security Patches for macOS, iOS | SecurityWeek.Com
Juniper Releases Patches for Critical Flaws in Junos OS and Contrail Networking (thehackernews.com)
Code Execution and Other Vulnerabilities Patched in Drupal | SecurityWeek.Com
Atlassian Rolls Out Security Patch for Critical Confluence Vulnerability (thehackernews.com)
Sector Specific
Industry specific threat intelligence reports are available.
Contact us to receive tailored reports specific to the industry/sector and geographies you operate in.
· Automotive
· Construction
· Critical National Infrastructure (CNI)
· Defence & Space
· Education & Academia
· Energy & Utilities
· Estate Agencies
· Financial Services
· FinTech
· Food & Agriculture
· Gaming & Gambling
· Government & Public Sector (including Law Enforcement)
· Health/Medical/Pharma
· Hotels & Hospitality
· Insurance
· Legal
· Manufacturing
· Maritime
· Oil, Gas & Mining
· OT, ICS, IIoT, SCADA & Cyber-Physical Systems
· Retail & eCommerce
· Small and Medium Sized Businesses (SMBs)
· Startups
· Telecoms
· Third Sector & Charities
· Transport & Aviation
· Web3
Other News
Hackers for Hire: Adversaries Employ 'Cyber Mercenaries' | Threatpost
Companies around the globe still not implementing MFA - Help Net Security
Global Firms Fear the Worst Over Risk Management Failures - Infosecurity Magazine
Humans are becoming the primary security risk for organisations around the world - Help Net Security
What threats and challenges are CISOs and CROs most focused on? - Help Net Security
What InfoSec Pros Can Teach the Organisation About ESG (darkreading.com)
SATAn Turns Hard Drive Cable Into Antenna To Defeat Air-Gapped Security | Hackaday
Lack of staff and resources drives smaller teams to outsource security - Help Net Security
Office macro security: on-again-off-again feature now BACK ON AGAIN! – Naked Security (sophos.com)
Removing the blind spots that allow lateral movement - Help Net Security
As usual, contact us to help assess where your risks lie and to ensure you are doing all you can do to keep you and your business secure.
Look out for our ‘Cyber Tip Tuesday’ video blog and on our YouTube channel.
You can also follow us on Facebook, Twitter and LinkedIn.
Links to articles are for interest and awareness and linking to or reposting external content does not endorse any service or product, likewise we are not responsible for the security of external links.