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Black Arrow Cyber Threat Briefing 01 March 2024

Black Arrow Cyber Threat Intelligence Briefing 01 March 2024:

-Phishing, Smishing and Vishing Skyrocket 1,265%

-Business Email Compromise Attacks Are Evolving, But What Can Be Done About It

-Vulnerabilities Count Set to Rise by 25% in 2024

-BYOD Increases Mobile Phishing; Risks Have Never Been Higher

-Risk-based spending: An Imperative for Cyber Security That Demands Board Attention

-If you Pay Ransoms, You May not Get Your Data Back and Worse, You Will Probably Get Hit Again, with 78% of Firms who Paid Then Suffering Repeat Ransomware Attacks

-Cyber Resilience and Cyber Hygiene: Why They Matter to Your Business

-Why Governance, Risk and Compliance Must be Integrated with Cyber Security

-More and More UK Firms Concerned About Insider Threats

-98% of Businesses Linked to Breached Third Parties

-What Companies Should Know About Rising Legal Threats

-CIOs Rethink All-In Cloud Strategies as Five Eyes Nations Warn of Evolving Russian Cyber Espionage Practices Targeting Cloud Environments

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

Risk-based spending: An Imperative for Cyber Security That Demands Board Attention

Staying ahead of the latest cyber security developments is essential to keeping your organisation safe. But with the rise of artificial intelligence and attackers dreaming up new techniques every day, a lot of organisations are left to question how they can create proactive, agile cyber security strategies and what approach gives the best return on investment, mitigating risks and maximising the value of their cyber security investments.

Unfortunately, most organisations do not have an unlimited budget, and for small and medium-sized businesses, there is even less to work with. What is needed is a risk-based approach, where organisations identify and prioritise their greatest vulnerabilities, correlating these to business impact; this is then used to form the cyber risk strategy for the organisation.

Sources: [Security Week] [The Hacker News] [Risk.net]

If you Pay Ransoms, You May not Get Your Data Back and Worse, You Will Probably Get Hit Again, with 78% of Firms who Paid Then Suffering Repeat Ransomware Attacks

Recent research from Proofpoint has found that 69% of organisations experienced a successful ransomware incident in the past year, a rise of 5% compared to the previous year. The report found that 60% reported four or more separate ransomware incidents and of the total involved, 54% admitted to paying a ransom. In a separate report, it was found that 78% of organisations suffering a ransomware attack suffered repeat attacks even after they paid.

Sources: [databreaches.net] [Infosecurity Magazine] [Infosecurity Magazine] [Claims Journal]

Cyber Resilience and Cyber Hygiene: Why They Matter to Your Business

Cyber resilience unites cyber security with business continuity and organisational durability, with proper implementation allowing the continuation of routine operations during adverse cyber incidents. Cyber hygiene, on the other hand, refers to having strong cyber security processes and procedures, to help the organisation mitigate the chance of an incident. The combination of both of these allows an organisation to reduce their likelihood of suffering a cyber incident, whilst improving their likelihood of continuing operations in the event of such an incident.

Sources: [Information Week] [Security Boulevard]

Why Governance, Risk and Compliance Must be Integrated with Cyber Security

With pressure from regulators, the evolving threat landscape and requirements for stronger oversight, governance, risk and compliance (GRC) has even more of an argument for alignment with cyber security. After all, cyber security is still security. Incorporating cyber security into the GRC programme of an organisation allows for cyber to become a business enabler.

Source: [CSO Online]

More and More UK Firms Concerned About Insider Threats

A report has found that 54% of UK business decision makers are concerned about the likelihood of their employees disclosing sensitive information or providing network access to fraudsters. In a separate report, 35% of respondents cited overworked and distracted staff making mistakes as a reason why they thought their business experienced insider risk. Certainly, insider risk does not just involve malicious employees; it can also include negligence and in some cases, employees may not be trained enough to identify the risk they are placing on the organisation such as not knowing or following an organisation’s call back procedure. It is important for organisations to consider whether their current training addresses this and whether the programme is doing enough to ensure that insider risk is mitigated.

Source: [Infosecurity Magazine]

98% of Businesses Linked to Breached Third Parties

A new report has found that 98% of organisations are associated with a third party that has experienced a breach, and these breaches often take months or more to be discovered. 75% of external business-to-business (B2B) relationships that enabled third-party breaches involved software or other technology products and services. Third party security is an important part of an organisation’s cyber security and to manage it correctly, organisations need to implement a third party risk management programme.

Source: [Help Net Security]

Phishing, Smishing and Vishing Skyrocket 1,265%

According to a report, since the launch of ChatGPT in November 2022, vishing, smishing, and phishing attacks have increased by a staggering 1,265%. Despite different techniques, these attacks all have one focus, and that’s on the user. Organisations looking to protect themselves should consider a blend of mitigations, including advanced email filtering, enabling multi-factor authentication and arguably the most important, effective user education and awareness training. This training should go beyond ticking boxes, by instead teaching employees how to both recognise and report phishing attempts.

A separate report analysed over 1 billion emails. Some of the key findings included that the majority of phishing attempts (71%) rely on deceptive links, but attachments (22%) and predatory QR codes (7%) are on the rise. When it came to spoofs, Microsoft was the most spoofed entity and financial services were amongst those most targeted sectors.

Source: [Bleeping Computer] [Help Net Security] [Security Affairs]

Business Email Compromise Attacks Are Evolving, But What Can Be Done About It

Business Email Compromise (BEC) attacks remain a dominant danger, with a staggering $51 billion lost over the last decade. A recent report underscores the prevalence of email as the primary battlefield, far outstripping other cyber attack methods. The low-cost, high-reach nature of email makes it an attractive starting point for cyber criminals. As organisations embrace cloud-based infrastructures, these attacks have morphed, presenting new challenges. Attackers have progressed from direct phishing attempts, to compromising business partners, vendors and other third parties. In this arms race, artificial intelligence (AI) assumes a pivotal role as an essential ally, efficiently discerning between benign and malicious content. This development signifies a significant milestone in the realm of email security resilience.

Source: [ITPro]

Vulnerabilities Count Set to Rise by 25% in 2024

The cyber threat landscape is rapidly evolving, with an anticipated 25% increase in published systems vulnerabilities for 2024. This surge, reaching approximately 2,900 vulnerabilities per month, underscores the critical need for robust vulnerability management strategies. Vulnerabilities serve as prime entry points for ransomware actors, heightening the urgency for organisations to fortify their defences. However, the sheer volume of vulnerabilities poses a daunting challenge for security and IT teams already thinly stretched. Timely risk-scoring remains a significant issue, leaving defenders vulnerable to exploits with threat actors often gaining a head start. Honeypot data reveals a concerning uptick in scans targeting remote desktop protocol (RDP), with businesses running end-of-life (EOL) software at heightened risk. In this dynamic cyber security climate, proactive risk management and expert intervention, such as Managed Detection and Response (MDR), are imperative to safeguarding against emerging threats.

Source: [Help Net Security]

BYOD Increases Mobile Phishing; Risks Have Never Been Higher

The risk of cyber attacks looms large, with stolen employee login credentials serving as a prime target for malicious actors. Mobile phishing has emerged as a significant threat, with data revealing a surge in encounter rates, especially in hybrid work environments and amid Bring Your Own Device (BYOD) policies. Personal devices, once considered outside the realm of corporate security, now pose substantial risks, as attackers exploit social engineering schemes to breach organisational networks. The financial implications of a successful phishing attack are staggering, with estimates suggesting potential losses of up to $4 million for organisations. As phishing encounter rates continue to rise, it's imperative for businesses to bolster their security strategies, ensuring comprehensive protection against mobile phishing threats across all employee devices. To navigate this evolving landscape and safeguard sensitive data, organisations must stay vigilant and adopt proactive measures.

Source: [MSSP Alert]

What Companies Should Know About Rising Legal Threats

The cyber security landscape is witnessing a significant shift as legal actions increasingly target both corporations and individual security officers. Recent cases including lawsuits by Tesla against ex-employees for cyber security breaches and charges by regulatory bodies like the US FTC and SEC, underscore the mounting legal risks associated with cyber security breaches. Notably, private companies are not exempt from such liabilities, facing scrutiny from authorities, regulators, customers and other affected parties. This environment has prompted many cyber security leaders to reconsider their roles, with concerns raised about the future of the profession. Amidst escalating threats and enforcement actions, there's a pressing need for enhanced cyber security budgets, robust risk-based controls and proactive audits or other independent assurance.

Source: [Darkreading]

CIOs Rethink All-In Cloud Strategies as Five Eyes Nations Warn of Evolving Russian Cyber Espionage Practices Targeting Cloud Environments

As organisations embrace the cloud, CIOs recognise that a one-size-fits-all approach may not be optimal. Many now favour a nuanced strategy, shifting workloads from public clouds to platforms offering productivity gains and cost savings; a trend known as ‘cloud exit.’ CIOs are rethinking cloud strategies, assessing each application’s suitability and fostering context-aware hosting decisions.

This comes as a recent advisory issued jointly by cyber security agencies from the UK, US, Australia, Canada, and New Zealand reveals that Russian cyber espionage units, including APT29 and Cozy Bear, are adapting tactics to target cloud environments used by both public and private organisations. These sophisticated attacks pose significant threats across industries. Implementing basic cloud security measures is crucial to regularly evaluate dormant accounts, limit system-issued token validity, and enforce stringent device policies. As cloud adoption rises, prioritise cyber security fundamentals for effective defence.

Sources: [CyberScoop] [CIO]

Governance, Risk and Compliance

Threats

Ransomware, Extortion and Destructive Attacks

Ransomware Victims

Phishing & Email Based Attacks

Other Social Engineering

Artificial Intelligence

2FA/MFA

Malware

Mobile

Denial of Service/DoS/DDOS

Internet of Things – IoT

Data Breaches/Leaks

Organised Crime & Criminal Actors

Cryptocurrency/Cryptomining/Cryptojacking/NFTs/Blockchain

Insider Risk and Insider Threats

Insurance

Supply Chain and Third Parties

Cloud/SaaS

Identity and Access Management

Linux and Open Source

Passwords, Credential Stuffing & Brute Force Attacks

Social Media

Malvertising

Training, Education and Awareness

Regulations, Fines and Legislation

Backup and Recovery

Models, Frameworks and Standards

Data Protection

Careers, Working in Cyber and Information Security

Law Enforcement Action and Take Downs

Misinformation, Disinformation and Propaganda

Nation State Actors, Advanced Persistent Threats (APTs), Cyber Warfare, Cyber Espionage and Geopolitical Threats/Activity

Cyber Warfare and Cyber Espionage

Nation State Actors

China

Russia

Iran

North Korea

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.

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Black Arrow Cyber Threat Briefing 23 December 2022

Black Arrow Cyber Threat Briefing 23 December 2022:

-LastPass Users: Your Info and Password Vault Data are Now in Hackers’ Hands

-Ransomware Attacks Increased 41% In November

-The Risk of Escalation from Cyber Attacks Has Never Been Greater

-FBI Recommends Ad Blockers as Cyber Criminals Impersonate Brands in Search Engine Ads

-North Korea-Linked Hackers Stole $626 Million in Virtual Assets in 2022

-UK Security Agency Wants Fresh Approach to Combat Phishing

-GodFather Android malware targets 400 banks, crypto exchanges

-Companies Overwhelmed by Available Tech Solutions

-Nine in 10 Third-party Contractors, Freelancers Use Personal, Unmanaged Devices Likely to be Infected

-UK Privacy Regulator Names and Shames Breached Firms

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

  • LastPass Admits Attackers have an Encrypted Copy of Customers’ Password Vaults 

Password locker LastPass has warned customers that the August 2022 attack on its systems saw unknown parties copy encrypted files that contain the passwords to their accounts.

In a December 22nd update to its advice about the incident, LastPass brings customers up to date by explaining that in the August 2022 attack “some source code and technical information were stolen from our development environment and used to target another employee, obtaining credentials and keys which were used to access and decrypt some storage volumes within the cloud-based storage service.” Those creds allowed the attacker to copy information “that contained basic customer account information and related metadata including company names, end-user names, billing addresses, email addresses, telephone numbers, and the IP addresses from which customers were accessing the LastPass service.”

The update reveals that the attacker also copied “customer vault” data, the file LastPass uses to let customers record their passwords. That file “is stored in a proprietary binary format that contains both unencrypted data, such as website URLs, as well as fully-encrypted sensitive fields such as website usernames and passwords, secure notes, and form-filled data.” The passwords are encrypted with “256-bit AES encryption and can only be decrypted with a unique encryption key derived from each user’s master password”.

LastPass’ advice is that even though attackers have that file, customers who use its default settings have nothing to do as a result of this update as “it would take millions of years to guess your master password using generally-available password-cracking technology.” One of those default settings is not to re-use the master password that is required to log into LastPass. The outfit suggests you make it a complex credential and use that password for just one thing: accessing LastPass.

LastPass therefore offered the following advice to individual and business users: If your master password does not make use of the defaults above, then it would significantly reduce the number of attempts needed to guess it correctly. In this case, as an extra security measure, you should consider minimising risk by changing passwords of websites you have stored.

LastPass’s update concludes with news it decommissioned the systems breached in August 2022 and has built new infrastructure that adds extra protections.

https://www.theregister.com/2022/12/23/lastpass_attack_update/

  • Ransomware Attacks Increased 41% In November

Ransomware attacks rose 41% last month as groups shifted among the top spots and increasingly leveraged DDoS attacks, according to new research from NCC Group.

A common thread of NCC Group's November Threat Pulse was a "month full of surprises," particularly related to unexpected shifts in threat actor behaviour. The Cuba ransomware gang resurged with its highest number of attacks recorded by NCC Group. Royal replaced LockBit 3.0 as the most active strain, a first since September of last year.

These factors and more contributed to the significant jump in November attacks, which rose from 188 in October to 265.

"For 2022, this increase represents the most reported incidents in one month since that of April, when there were 289 incidents, and is also the largest month-on-month increase since June-July's marginally larger increase of 47%," NCC Group wrote in the report.

Operators behind Royal ransomware, a strain that emerged earlier this year that operates without affiliates and utilises intermittent encryption to evade detection, surpassed LockBit 3.0 for the number one spot, accounting for 16% of hack and leak incidents last month.

https://www.techtarget.com/searchsecurity/news/252528505/NCC-Group-Ransomware-attacks-increased-41-in-November

  • The Risk of Escalation from Cyber Attacks Has Never Been Greater

In 2022, an American dressed in his pyjamas took down North Korea’s Internet from his living room. Fortunately, there was no reprisal against the United States. But Kim Jong Un and his generals must have weighed retaliation and asked themselves whether the so-called independent hacker was a front for a planned and official American attack.

In 2023, the world might not get so lucky. There will almost certainly be a major cyber attack. It could shut down Taiwan’s airports and trains, paralyse British military computers, or swing a US election. This is terrifying, because each time this happens, there is a small risk that the aggrieved side will respond aggressively, maybe at the wrong party, and (worst of all) even if it carries the risk of nuclear escalation.

This is because cyber weapons are different from conventional ones. They are cheaper to design and wield. That means great powers, middle powers, and pariah states can all develop and use them.

More important, missiles come with a return address, but virtual attacks do not. Suppose in 2023, in the coldest weeks of winter, a virus shuts down American or European oil pipelines. It has all the markings of a Russian attack, but intelligence experts warn it could be a Chinese assault in disguise. Others see hints of the Iranian Revolutionary Guard. No one knows for sure. Presidents Biden and Macron have to decide whether to retaliate at all, and if so, against whom … Russia? China? Iran? It's a gamble, and they could get unlucky.

Neither country wants to start a conventional war with one another, let alone a nuclear one. Conflict is so ruinous that most enemies prefer to loathe one another in peace. During the Cold War, the prospect of mutual destruction was a huge deterrent to any great power war. There were almost no circumstances in which it made sense to initiate an attack. But cyber warfare changes that conventional strategic calculus. The attribution problem introduces an immense amount of uncertainty, complicating the decision our leaders have to make.

https://arstechnica.com/information-technology/2022/12/the-risk-of-escalation-from-cyberattacks-has-never-been-greater/

  • FBI Recommends Ad Blockers as Cyber Criminals Impersonate Brands in Search Engine Ads

The Federal Bureau of Investigation (FBI) this week raised the alarm on cyber criminals impersonating brands in advertisements that appear in search engine results. The agency has advised consumers to use ad blockers to protect themselves from such threats.

The attackers register domains similar to those of legitimate businesses or services, and use those domains to purchase ads from search engine advertisement services, the FBI says in an alert. These nefarious ads are displayed at the top of the web page when the user searches for that business or service, and the user might mistake them for an actual search result.

Links included in these ads take users to pages that are identical to the official web pages of the impersonated businesses, the FBI explains. If the user searches for an application, they are taken to a fake web page that uses the real name of the program the user searches for, and which contains a link to download software that is, in fact, malware.

“These advertisements have also been used to impersonate websites involved in finances, particularly cryptocurrency exchange platforms,” the FBI notes. Seemingly legitimate exchange platforms, the malicious sites prompt users to provide their login and financial information, which the cyber criminals then use to steal the victim’s funds.

“While search engine advertisements are not malicious in nature, it is important to practice caution when accessing a web page through an advertised link,” the FBI says.

Businesses are advised to use domain protection services to be notified of domain spoofing, and to educate users about spoofed websites and on how to find legitimate downloads for the company’s software.

Users are advised to check URLs to make sure they access authentic websites, to type a business’ URL into the browser instead of searching for that business, and to use ad blockers when performing internet searches. Ad blockers can have a negative impact on the revenues of online businesses and advertisers, but they can be good for online security, and even the NSA and CIA are reportedly using them.

https://www.securityweek.com/fbi-recommends-ad-blockers-cybercriminals-impersonate-brands-search-engine-ads

  • North Korea-Linked Hackers Stole $626 Million in Virtual Assets in 2022

South Korea’s spy agency, the National Intelligence Service, estimated that North Korea-linked threat actors have stolen an estimated 1.5 trillion won ($1.2 billion) in cryptocurrency and other virtual assets in the past five years.

According to the spy agency, more than half the crypto assets (about 800 billion won ($626 million)) have been stolen this year alone, reported the Associated Press. The Government of Pyongyang focuses on crypto hacking to fund its military program following harsh UN sanctions.

“South Korea’s main spy agency, the National Intelligence Service, said North Korea’s capacity to steal digital assets is considered among the best in the world because of the country’s focus on cyber crimes since UN economic sanctions were toughened in 2017 in response to its nuclear and missile tests.” reported the AP agency. North Korea cannot export its products due to the UN sanctions imposed in 2016 and 1017, and the impact on its economy is dramatic.

The NIS added that more than 100 billion won ($78 million) of the total stolen funds came from South Korea. Cyber security and intelligence experts believe that attacks aimed at the cryptocurrency industry will continue to increase next year. National Intelligence Service experts believe that North Korea-linked APT groups will focus on the theft of South Korean technologies and confidential information on South Korean foreign policy and national security.

Data published by the National Intelligence Service agency confirms a report published by South Korean media outlet Chosun early this year that revealed North Korean threat actors have stolen around $1.7 billion (2 trillion won) worth of cryptocurrency from multiple exchanges during the past five years.

https://securityaffairs.co/wordpress/139909/intelligence/north-korea-cryptocurrency-theft.html

  • UK Security Agency Wants Fresh Approach to Combat Phishing

The UK National Cyber Security Centre (NCSC) has called for a defence-in-depth approach to help mitigate the impact of phishing, combining technical controls with a strong reporting culture.

Writing in the agency’s blog, technical director and principal architect, “Dave C,” argued that many of the well-established tenets of anti-phishing advice simply don’t work. For example, advising users not to click on links in unsolicited emails is not helpful when many need to do exactly that as part of their job.

This is often combined with a culture where users are afraid to report that they’ve accidentally clicked, which can delay incident response, he said. It’s not the user’s responsibility to spot a phish – rather, it’s their organisation’s responsibility to protect them from such threats, Dave C argued.

As such, they should build layered technical defences, consisting of email scanning and DMARC/SPF policies to prevent phishing emails from arriving into inboxes. Then, organisations should consider the following to prevent code from executing:

  • Allow-listing for executables

  • Registry settings changes to ensure dangerous scripting or file types are opened in Notepad and not executed

  • Disabling the mounting of .iso files on user endpoints

  • Making sure macro settings are locked down

  • Enabling attack surface reduction rules

  • Ensuring third-party software is up to date

  • Keeping up to date about current threats

Additionally, organisations should take steps such as DNS filtering to block suspicious connections and endpoint detection and response (EDR) to monitor for suspicious behaviour, the NCSC advised.

https://www.infosecurity-magazine.com/news/uk-security-agency-combat-phishing/

  • GodFather Android malware targets 400 banks, crypto exchanges

An Android banking malware named 'Godfather' has been targeting users in 16 countries, attempting to steal account credentials for over 400 online banking sites and cryptocurrency exchanges.

The malware generates login screens overlaid on top of the banking and crypto exchange apps' login forms when victims attempt to log into the site, tricking the user into entering their credentials on well-crafted HTML phishing pages.

The Godfather trojan was discovered by Group-IB analysts, who believe it is the successor of Anubis, a once widely-used banking trojan that gradually fell out of use due to its inability to bypass newer Android defences. ThreatFabric first discovered Godfather in March 2021, but it has undergone massive code upgrades and improvements since then.

Also, Cyble published a report yesterday highlighting a rise in the activity of Godfather, pushing an app that mimics a popular music tool in Turkey, downloaded 10 million times via Google Play. Group-IB has found a limited distribution of the malware in apps on the Google Play Store; however, the main distribution channels haven't been discovered, so the initial infection method is largely unknown.

Almost half of all apps targeted by Godfather, 215, are banking apps, and most of them are in the United States (49), Turkey (31), Spain (30), Canada (22), France (20), Germany (19), and the UK (17).

Apart from banking apps, Godfather targets 110 cryptocurrency exchange platforms and 94 cryptocurrency wallet apps.

https://www.bleepingcomputer.com/news/security/godfather-android-malware-targets-400-banks-crypto-exchanges/

  • Companies Overwhelmed by Available Tech Solutions

92% of executives reported challenges in acquiring new tech solutions, highlighting the complexities that go into the decision-making process, according to GlobalDots.

Moreover, some 34% of respondents said the overwhelming amount of options was a challenge when deciding on the right solutions, and 33% admitted the time needed to conduct research was another challenge in deciding.

Organisations of all varieties rely on technology more than ever before. The constant adoption of innovation is no longer a luxury but rather a necessity to stay on par in today’s fast-paced and competitive digital landscape. In this environment, IT and security leaders are coming under increased pressure to show ROIs from their investment in technology while balancing operational excellence with business innovation. Due to current market realities, IT teams are short-staffed and suffering from a lack of time and expertise, making navigating these challenges even more difficult.

The report investigated how organisations went about finding support for their purchasing decisions. Conferences, exhibitions, and online events served as companies’ top source of information for making purchasing decisions, at 52%. Third-party solutions, such as value-added resellers and consultancies, came in second place at 48%.

54% are already using third parties to purchase, implement, or support their solutions, highlighting the value that dedicated experts with in-depth knowledge of every solution across a wide range of IT fields provide.

We are living in an age of abundance when it comes to tech solutions for organisations, and this makes researching and purchasing the right solutions for your organisation extremely challenging.

https://www.helpnetsecurity.com/2022/12/20/tech-purchasing-decisions/

  • Nine in 10 Third-party Contractors, Freelancers Use Personal, Unmanaged Devices Likely to be Infected

Talon Cyber Security surveyed 258 third-party providers to better understand the state of third-party working conditions, including work models, types of devices and security technologies used, potentially risky actions taken, and how security and IT tools impact productivity.

Looking at recent high-profile breaches, third parties have consistently been at the epicenter, so they took a step back with their research to better understand the potential root causes. The findings paint a picture of a third-party work landscape where individuals are consistently working from personal, unmanaged devices, conducting risky activities, and having their productivity impacted by legacy security and IT solutions.

Here’s what Talon discovered:

  • Most third parties (89%) work from personal, unmanaged devices, where organisations lack visibility and cannot enforce the enterprise’s security posture on. Talon pointed to a Microsoft data point that estimated users are 71% more likely to be infected on an unmanaged device.

  • With third parties working from personal devices, they tend to carry out personal, potentially risky tasks. Respondents note that at least on occasion, they have used their devices to:

    • Browse the internet for personal needs (76%)

    • Indulge in online shopping (71%)

    • Check personal email (75%)

    • Save weak passwords in the web browser (61%)

    • Play games (53%)

    • Allow family members to browse (36%)

    • Share passwords with co-workers (24%)

  • Legacy apps such as Virtual Desktop Infrastructure (VDI) and Desktop-as-a-Service (DaaS) solutions are prominent, with 45% of respondents using such technologies while working for organisations.

https://www.msspalert.com/cybersecurity-research/nine-in-10-third-party-contractors-freelancers-use-personal-unmanaged-devices-likely-to-be-infected/

  • UK Privacy Regulator Names and Shames Breached Firms

The UK Information Commissioner’s Office (ICO) has taken the unusual step of publishing details of personal data breaches, complaints and civil investigations on its website, according to legal experts.

The data, available from Q4 2021 onwards, includes the organisation’s name and sector, the relevant legislation and the type of issues involved, the date of completion and the outcome.

Given the significance of this development, it’s surprising that the ICO has (1) chosen to release it with limited fanfare, and (2) buried the data sets on its website. Indeed, it seems to have flown almost entirely under the radar.

Understanding whether their breach or complaint will be publicised by European regulators is one of – if not the – main concern that organisations have when working through an incident, and the answer has usually been no. That is particularly the understanding or assumption where the breach or complaint is closed without regulatory enforcement. Now, at least in the UK, the era of relative anonymity looks to be over.

Despite the lack of fanfare around the announcement, this naming and shaming approach could make the ICO one of the more aggressive privacy regulators in Europe. In the future, claimant firms in class action lawsuits may adopt “US-style practices” of scanning the ICO database to find evidence of repeat offending or possible new cases.

The news comes even as data reveals the value of ICO fines issued in the past year tripled from the previous 12 months. In the year ending October 31 2022, the regulator issued fines worth £15.2m, up from £4.8m the previous year. The sharp increase in the value of fines shows the ICO’s increasing willingness selectively to crack down on businesses – particularly those that the ICO perceives has not taken adequate measures to protect customer and employee data.

https://www.infosecurity-magazine.com/news/uk-privacy-regulator-names-and/

Threats

Ransomware, Extortion and Destructive Attacks

Phishing & Email Based Attacks

BEC – Business Email Compromise

Other Social Engineering; Smishing, Vishing, etc

2FA/MFA

Malware

Mobile

Botnets

Denial of Service/DoS/DDOS

BYOD

Internet of Things – IoT

Data Breaches/Leaks

Organised Crime & Criminal Actors

Cryptocurrency/Cryptomining/Cryptojacking/NFTs/Blockchain

Insider Risk and Insider Threats

Fraud, Scams & Financial Crime

Supply Chain and Third Parties

Cloud/SaaS

Hybrid/Remote Working

Attack Surface Management

Encryption

API

Open Source

Passwords, Credential Stuffing & Brute Force Attacks

Social Media

Malvertising

Parental Controls and Child Safety

Regulations, Fines and Legislation

Governance, Risk and Compliance

Careers, Working in Cyber and Information Security

Law Enforcement Action and Take Downs

Privacy, Surveillance and Mass Monitoring

Artificial Intelligence

Misinformation, Disinformation and Propaganda

Spyware, Cyber Espionage & Cyber Warfare, including Russian Invasion of Ukraine

Vulnerability Management

Vulnerabilities

Tools and Controls

Reports Published in the Last Week

Other News

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.

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Black Arrow Cyber Threat Briefing 01 October 2021

Black Arrow Cyber Threat Briefing 01 October 2021:

-Cyber Second Only To Climate Change As Biggest Global Risk

-Businesses Unsure Which Tech Is Essential Against Ransomware

-Cyber Crime Awareness Heightened, Yet People Still Engage In Risky Online Behaviours

-Attacks Against Remote Desktop Protocol Endpoints Have Exploded This Year

-Ransomware Attacks Up 1,070% Year Over Year

-Baby’s Death Alleged To Be Linked To Ransomware

-Ransomware Shame: More Than Half Of Business Owners Conceal Cyber-Breach

-More Than 90% Of Q2 Malware Was Hidden In Encrypted Traffic

-Cyber Attack Floors British Payroll Firm

-GriftHorse Malware Infected More Than 10 Million Android Phones From 70 Countries

-50% Of Servers Have Weak Security Long After Patches Are Released

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

Cyber Second Only To Climate Change As Biggest Global Risk

Cyber security has been ranked as the second largest threat to our way of life in a major new survey of 23,000 people, comprised of both experts and members of the public. Cyber came second only to climate change on the world stage, but was ranked as the number one risk in the Americas and second in Asia, Africa, and Europe. https://www.infosecurity-magazine.com/news/cyber-second-biggest-global-risk/

Businesses Unsure Which Tech Is Essential Against Ransomware

As ransomware attacks grow in number, a new report finds that many organisations are under the impression they have things in hand but most are unsure what protections they should have in place. The report, based on a survey of 455 business leaders and cyber security professionals, claims businesses are on top of employee training, risk assessments and cyber insurance. Where firms fall flat however is their “clear gap” in thinking, in what many respondents see as “essential tech” in the fight against ransomware – nearly half of respondents (49%) thought paying up was their best option. https://www.techradar.com/news/businesses-unsure-which-tech-is-essential-against-ransomware

Cyber Crime Awareness Heightened, Yet People Still Engage In Risky Online Behaviours

A survey of over 2,000 adults suggests that 76% of respondents recognise the severity of data breaches. This heightened awareness may be driven by constant news of major consumer, enterprise and infrastructural breaches over the last year alone. https://www.helpnetsecurity.com/2021/10/01/risky-online-behaviors/

Attacks Against Remote Desktop Protocol Endpoints Have Exploded This Year

A recent report warns of a huge increase in attacks on the Remote Desktop Protocol (RDP), an almost universal protocol used by nearly every business in operation today. The figures show attacks on RDP have jumped 103.9% since its T1 report in June and represents around 55 billion devices. The RDP protocol is leveraged by threat actors to deploy ransomware and has become a popular target due to both heavy use by IT service providers and common misconfigurations.  https://www.theregister.com/2021/09/30/eset_threat_report/

Ransomware Attacks Up 1,070% Year Over Year

The prevalence of ransomware is growing rapidly, according to the 2021 Ransomware Survey Report. The report shockingly found many of the ransom demands are paid, and comes as a result in the rise of “ransomware as-a-service”. The report found 94% of businesses are concerned about ransomware, with 49% stating they would simply pay the ransom outright. Respondents in Europe were more concerned than those in North America, and around 67% felt they had already been the target of ransomware.  https://www.msspalert.com/cybersecurity-research/fortinet-report-ransomware-attacks-up-1070-year-over-year/

Baby’s Death Alleged To Be Linked To Ransomware

A US hospital paralyzed by ransomware in 2019 will be defending itself in court this November over the death of a newborn. The baby was born amid the hospital’s eighth day of fending off the attack. Court filings show the hospital – Springhill Medical Center in Alabama – believes wireless tracking systems and heartbeat monitoring equipment were compromised by the ransomware, leading to the death.

https://threatpost.com/babys-death-linked-ransomware/175232/

Ransomware Shame: More Than Half Of Business Owners Conceal Cyber-Breach

Around a third (32%) of enterprises experienced a six-figure breach last year, but well over half (61%) admitted to concealing it. The findings come as a global survey of 1,400 decision makers in cyber is released. https://www.foxbusiness.com/technology/ransomware-cyber-breach-concealed

More Than 90% Of Q2 Malware Was Hidden In Encrypted Traffic

Around 91.5% of malware detections in Q1 2021 were concealed in HTTPS-encrypted connections. A ubiquitous protocol – used to secure traffic any time you open a web page – only 20% of organisations have mechanisms in place to scan the arriving HTTPS traffic. The terrifying result found that most firms are missing over nine-tenths of malware hitting their networks every day. https://www.darkreading.com/perimeter/more-than-90-of-q2-malware-was-hidden-in-encrypted-traffic

Cyber Attack Floors British Payroll Firm

A "sophisticated" cyber attack has forced a British payroll company to shut down its entire network, leaving some contractors without pay.  Giant Group confirmed on September 24 that it had taken its network, fully integrated IT infrastructure, phone, and email systems offline last Wednesday after detecting suspicious activity. https://www.infosecurity-magazine.com/news/cyberattack-floors-british-payroll/#.YVQiuXlCjOA.twitter

GriftHorse Malware Infected More Than 10 Million Android Phones From 70 Countries

A malicious trojan has been making its way through the Google Play Store since at least November of 2020. The app, purportedly harmless on the surface, hijacks payments on the victim device, resulting in a series of hidden charges and a nasty surprise at the end of the month. Researchers who discovered the malware estimate its impact to be over 10 million victims in 70 countries, and several hundreds of millions of Euros in losses. https://securityaffairs.co/wordpress/122730/malware/grifthorse-malware-campaign.html

50% Of Servers Have Weak Security Long After Patches Are Released

Over 50% of servers scanned still have weak security, a new study suggests, even after patches have been issued. Researchers found that servers were still vulnerable weeks and even months after critical updates, leaving many businesses wide open to attack. https://www.darkreading.com/vulnerabilities-threats/50-of-servers-have-weak-security-long-after-patches-are-released

Threats

Ransomware

Phishing

Other Social Engineering

Malware

Vulnerabilities

Data Breaches/Leaks

Cryptocurrency/Cryptojacking

Insider Threats

Dark Web

DoS/DDoS

Nation State Actors

Cloud

Privacy

Reports Published in the Last Week

ESET Threat Report T2 2021

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 weekly ‘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.

Read More