Black Arrow Cyber Threat Briefing 26 April 2024

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]

[Biometric Update]

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]

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Governance, Risk and Compliance

• Ransomware triggers cyber insurance claims increase | SC Media (scmagazine.com)

• Coalition Finds More Than Half of Cyber Insurance Claims Originate in the Email Inbox - IT Security Guru

• Pen Testing Infrequency Leaves Security Gaps | MSSP Alert

• 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

• More and more businesses now have CISOs - but they're increasingly taking the blame for attacks | TechRadar

• Cyber metrics journey | Professional Security

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Threats

Ransomware, Extortion and Destructive Attacks

• Ransomware triggers cyber insurance claims increase | SC Media (scmagazine.com)

• Coalition Finds More Than Half of Cyber Insurance Claims Originate in the Email Inbox - IT Security Guru

• Report finds a near 20% increase in ransomware victims year-over-year | Security Magazine

• Risks to ransomware attack payment | Professional Security

• 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)

• Ransomware in Q1 2024: Frequency, size of payments trending downwards, SMBs beware! - Help Net Security

• 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

• DragonForce Ransomware Group Uses LockBit’s Leaked Builder - Infosecurity Magazine (infosecurity-magazine.com)

• Cyber Hygiene Helps Organisations Mitigate Ransomware-Related Vulnerabilities  | CISA

• Ransomware attacks rise in global food & agriculture sector (securitybrief.co.nz)

• Preventing Ransomware Attacks at Scale (hbr.org)

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

• Will the Change Healthcare case finally make providers do a business impact analysis? | SC Media (scmagazine.com)

• 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

• Phishing attacks up 60 percent driven by AI (betanews.com)

• Coalition Finds More Than Half of Cyber Insurance Claims Originate in the Email Inbox - IT Security Guru

• 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)

• Researchers Detail Multistage Attack Hijacking Systems with SSLoad, Cobalt Strike (thehackernews.com)

• LA County Health Services: Patients' data exposed in phishing attack (bleepingcomputer.com)

BEC

• Coalition Finds More Than Half of Cyber Insurance Claims Originate in the Email Inbox - IT Security Guru

• Email inbox cyber crime leaps as claims soar (emergingrisks.co.uk)

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

• Phishing attacks up 60 percent driven by AI (betanews.com)

• 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)

• Security Leaders Braced for Daily AI-Driven Attacks by Year-End - Infosecurity Magazine (infosecurity-magazine.com)

• 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

• The Dark Side of Deepfakes: How Malicious Actors Use Synthetic Media to Manipulate and Deceive | Metaverse Post (mpost.io)

• 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)

• Major Security Flaws Expose Keystrokes of Over 1 Billion Chinese Keyboard App Users (thehackernews.com)

• Give Your iPhone a Security Boost With This iOS 17.4 Feature - CNET

• A Briefing on SIM Hijacking | Intel471

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)

• AT&T faces class action lawsuit over massive data breach exposing 70 million customers’ personal information (click2houston.com)

• 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

• The rise of the outsmarted insider (betanews.com)

• CesiumAstro claims former exec spilled trade secrets to upstart competitor AnySignal | TechCrunch

Insurance

• Ransomware triggers cyber insurance claims increase | SC Media (scmagazine.com)

• Coalition Finds More Than Half of Cyber Insurance Claims Originate in the Email Inbox - IT Security Guru

• Email inbox cyber crime leaps as claims soar (emergingrisks.co.uk)

• Coalition: Insurance claims for Cisco ASA users spiked in 2023 | TechTarget

• Munich Re on the impact of cyber rate changes | Insurance Business America (insurancebusinessmag.com)

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

• Tech Investments Help SMBs Fortify Supply Chains Amid Economic, Workforce, and Security Concerns | Business Wire

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

• Open Source Groups Warn of Social Engineering Backdoors | MSSP Alert

Passwords, Credential Stuffing & Brute Force Attacks

• Most people still rely on memory or pen and paper for password management - Help Net Security

• Apple @ Work: Over 52% of workers try to memorize and reuse the same password across multiple apps at work - 9to5Mac

• 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

• Windows 11 now comes with its own adware (engadget.com)

Training, Education and Awareness

• 10 colleges and universities shaping the future of cyber security education - Help Net Security

Regulations, Fines and Legislation

• What is the EU Cyber Solidarity Act? | UpGuard

• International Lawyers Network Announces the Launch of Comprehensive Data Protection Guide (prleap.com)

• 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

• International Lawyers Network Announces the Launch of Comprehensive Data Protection Guide (prleap.com)

• 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)

• Pluralsight Study Finds the Biggest Technical Skills Gaps are in Cyber Security, Cloud, and Software Development (prnewswire.com)

• 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

• Exploring Law Enforcement Hacking as a Tool Against Transnational Cyber Crime - Carnegie Endowment for International Peace

• Authorities investigate LabHost users after phishing service shut down | SC Media (scmagazine.com)

• Trend Micro Collaborated with Interpol in Cracking Down Grandoreiro Banking Trojan | Trend Micro (US)

• 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

• Campaigns and political parties are in the crosshairs of election meddlers | CyberScoop

• Mandiant: Russia, Iran pose biggest threat to 2024 elections • The Register

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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

• China's Vision for Global Security: Implications for Southeast Asia | United States Institute of Peace (usip.org)

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)

• Who Are APT29? - Security Boulevard

• 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)

• Rare Computer Virus Detected in Ukrainian Network, Confidential Document Potentially Compromised (kyivpost.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

• $10 Million Bounty on Iranian Hackers for Cyber Attacks on US Gov, Defence Contractors - Security Week

• 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

• Over 10 Defence Industry Firms Targeted in Concentrated Cyber Attacks by N. Korean Hackers l KBS WORLD

• Hackers hijack antivirus updates to drop GuptiMiner malware (bleepingcomputer.com)

• Microsoft Warns: North Korean Hackers Turn to AI-Fuelled Cyber Espionage (thehackernews.com)

• North Korean Hackers Target Dozens of Defence Companies - Infosecurity Magazine (infosecurity-magazine.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

• Dutch intelligence warns of stronger threats from China, jihadists and extremists | NL Times

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Vulnerability Management

• Third-Party Software Patching: Your Cyber Armor in 2024 | MSSP Alert

• Automated patch management: 9 best practices for success | TechTarget

• Vulnerability Exploitation on the Rise as Attacker Ditch Phishing - Infosecurity Magazine (infosecurity-magazine.com)

• 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)

• Nation-state actors exploited two zero-days in Cisco ASA and FTD firewalls to breach government networks - Security Affairs

• 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)

• Dependency Confusion Vulnerability Found in Apache Project - Infosecurity Magazine (infosecurity-magazine.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)

• Pen Testing Infrequency Leaves Security Gaps | MSSP Alert

• 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

• Tech Investments Help SMBs Fortify Supply Chains Amid Economic, Workforce, and Security Concerns | Business Wire

• CISA ransomware warning program set to fully launch by end of 2024 | CyberScoop

---

Reports Published in the Last Week

• M-Trends 2024 | Google Cloud

• Mandiant's M-Trends Report Reveals New Insights from Frontline Cyber Investigations (prnewswire.com)

• Coalition's 2024 Cyber Claims Report (coalitioninc.com)

• Boost your data protection with insights from Dell's report - SiliconANGLE

• 2024 Cisco Cyber Security Readiness Index

• Rising Cyber Threats Pose Serious Concerns for Financial Stability (imf.org)

• Cyber Security in the UK - House of Commons Library (parliament.uk)

---

Other News

• These sectors are top targets for cyber crime, and other cyber security news to know this month | World Economic Forum (weforum.org)

• Online Banking Security Still Not Up to Par, Says Which? - Infosecurity Magazine (infosecurity-magazine.com)

• Why Educating HR Professionals on Cyber Risk Is Crucial (thehrdirector.com)

• Where Hackers Find Your Weak Spots (darkreading.com)

• Network Threats: A Step-by-Step Attack Demonstration (thehackernews.com)

• Microsoft is reportedly making security improvements its current top priority at the company - Neowin

• 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

• DOD establishes Office of the Assistant Secretary of Defence for Cyber Policy (securityintelligence.com)

• EU Statement – UN General Assembly 1st Committee: Cyber Security | EEAS (europa.eu)

• US: The European Union and the United States hold the 9th Cyber Dialogue in Brussels | EEAS (europa.eu)

• Why Tourists Are Particularly Vulnerable To Cyber Attacks (maltatoday.com.mt)

• Microsoft needs to win back trust - The Verge

• 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)

• Cyber Security is Relentless! | Gray Reed - JDSupra

• 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 03 November 2023

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.

Surviving a Ransomware Attack Begins by Acknowledging it’s Inevitable

The best defence against a ransomware attack is assuming it will happen before it does.  Research by Visa Inc found that ransomware continues to rapidly rise. One of the main factors is the use of AI services to mass produce highly personalised and plausible emails. The second is the proliferation of highly professional do-it-yourself ransomware kits, which frequently come with 24/7 tech support. These two factors drastically lower the skill level required for cyber criminals to successfully pull off an attack.

Another new ransomware trend is “dual ransomware attacks”. This is where criminals carry out two or more attacks in close proximity of each other, ranging between 48 hours to a maximum of 10 days. With an 80% chance of re-attack, small and medium sized businesses in hard-hit industries including healthcare and manufacturing are primary targets; organisations must be extra vigilant as the holidays approach because this is when cyber criminals are most likely to attack.

Black Arrow works with organisations of all sizes and sectors to design and prepare for managing a cyber security incident; this can include an Incident Response Plan and an educational tabletop exercise for the leadership team that highlights the proportionate controls to help the organisation prevent and mitigate an incident.

Source: [Venture Beat] [SC Media] [Help Net Security] [Infosecurity Magazine] [Help Net Security] [Tech Crunch]

Are You and Your Clients Soft Targets?

Cyber attacks are not a matter of "if" but "when," and the question you need to ask yourself is, ‘Are you a soft target?’. A soft target is a network or organisation that is relatively unprotected or vulnerable to cyber attacks.

You may feel confident in your ability to recover from an attack, but if you've never thoroughly tested your backup and recovery procedures, and when the time comes you find that it does not work, the result will leave you more likely to pay a ransom in an encryption based ransomware scenario. Reliance on legacy antivirus, which often fails to detect modern threats, can also render your network a soft target. Additionally, the absence of a rigorous vulnerability scanning and patching process leaves vulnerabilities undiscovered, and attackers are quick to exploit them. If you rely solely on prevention measures like firewalls and endpoint protection platforms, you are making yourself an appealing soft target for cyber criminals.

No organisation is entirely immune to cyber attacks. The key to defending you and your client's information effectively is to anticipate attacks, understand your security posture, recognise potential adversaries, and recover correctly in the event of an attack.

Source: [MSSP Alert]

Cyber Attacks Cause Revenue Losses in 42% of Small Businesses

Small businesses may be discouraged from investing in preventive cyber security measures due to the expense involved and the mistaken belief that only larger companies are the target of cyber crimes. However, according to a recent report nearly 8 in 10 small business leaders admit they are anxious about the safety of their company’s sensitive data and information. The report found that employee and customer data continue to be the most impacted categories of information in data breaches with 42% of small businesses losing revenue due to a cyber event.

The widespread use of internet-connected devices has given rise to a substantial surge in threat actors targeting small and medium-sized businesses, with malware, phishing and botnets being the most common threats. Daily malware activity has doubled year over year, and peaks in holiday seasons.

Sources: [Help Net Security] [Security Magazine] [Help Net Security] [JDSupra]

Executives May be The Biggest Risk to Your Business as One in Five Share Work Passwords Outside the Company

According to a recent report, nearly half (49%) of C-level executives have requested to bypass one or more security measures in the past year, highlighting a concerning disparity between what business leaders say about cyber and what they do. The research reported one in five sharing their work password with someone outside the company, 77% using easy-to-remember passwords including birth dates, and a third admitting to accessing unauthorised files and data with nearly two-thirds having the ability to edit those files/data.

Additionally, the C-suite was found to be more than three times as likely than regular users to share work devices with unauthorised users. An essential approach to reducing the risks is a tailored training programme that enables all users, including the C-suite, to understand the objective of security controls and the risks caused by bypassing them. Black Arrow offers bespoke training to all roles within the organisation as well as upskilling tailored to those at the board level.

Sources: [Infosecurity Magazine] [Tech Radar] [Security Magazine] [Help Net Security]

Organisations Can Only Stop 57 Percent of Cyber Attacks

According to a report from Tenable, over the last two years, the average organisation's cyber security program was prepared to preventatively defend against, or block, just 57 percent of the cyber attacks it encountered. The report found that 58% of respondents focus almost entirely on fighting successful attacks rather than working to prevent them in the first place. This is put down largely to a struggle to obtain an accurate picture of their attack surface. When it came to risks, 75% viewed cloud infrastructure as the greatest source of exposure risk in their organisation.

Source: [Beta News]

Many Businesses Remain Unprepared for AI as Phishing Attacks Rise 1,265% Since Launch of ChatGPT

Generative AI has revolutionised many aspects of life, offering new opportunities that have also greatly benefited malicious actors. A report has found that since the launch of ChatGPT, phishing attacks have increased by 1,265%. A separate report found that many businesses remain unprepared for the impact of AI, with just 16% of respondents satisfied in their organisation’s understanding of these AI tools.

Sources: [Decrypt] [Infosecurity Magazine] [Emerging Risks]

Business Email Compromise is Most Common Entry Point for Cyber Attack

According to cyber insurance provider Hiscox, almost half of UK businesses have experienced a cyber attack in the last year, an increase of 9% from the previous year. Business email compromise was recorded as the most common point of entry, mentioned by 35% of companies who suffered an attack.

The report found that 20% of attacked organisations received a ransomware demand, slightly up from 19% the previous year. The proportion paying the ransom fell from 66% to 63%, but the median ransom rose 13%.

Sources: [Hiscox] [Digital Journal]

US Regulator Charges Firm and its CISO For Fraud and Cyber Security Failures

The US Securities and Exchange Commission (SEC) announced plans to charge a Chief Information Security Officer (CISO) with fraud for their role in allegedly lying to investors, overstating cyber security practices, and understating or failing to disclose known risks. A key piece of evidence presented by the SEC involved a presentation that was shared with the CISO, detailing a lack of security in the CISO employer’s setup. The presentation highlighted how exploitation could lead to major reputational and financial loss.

The case represents a larger shift in the dynamics and corporate reporting of security issues and within this, lies the professionalism of the CISO role. It is likely that this incident could become the start of something larger.

Sources: [The Record] [Security Week ] [Forbes]

Companies Scramble to Integrate Immediate Recovery into Ransomware Plans

A survey found that 66% of companies are reevaluating their data protection and cyber resilience strategies. Despite this, 35% are not prioritising recovery and only half (56.6%) focused on both recovery and prevention.

Whilst it is important to prevent attacks, nothing is 100% secure and organisations need to ensure that their ransomware plans include recovery as a part of this. If, or when, you experience an attack, you will not want to improvise your recovery.

Source: [Help Net Security]

Your End-Users are Reusing Passwords: That’s a Big Problem

Password reuse is a difficult vulnerability for IT teams to get full visibility over. The danger is often hidden until it turns up in the form of hackers using compromised credentials as an initial access vector. A recent survey revealed that 53% of people admit to reusing passwords, making it easier for attackers to gain access to multiple applications with a single compromised password.

While it is difficult for organisations to maintain visibility over who is reusing passwords, especially if employees are reusing passwords outside of the organisation, there are still ways to combat this. Implementing tools that can check for compromised passwords, using multi-factor authentication and ensuring all employees carry out cyber security and awareness training are a few methods to help combat password re-use.

Source: [Bleeping Computer]

Cyber Workforce Demand is Outpacing Supply

A study by ISC2 stated that we would need to double the cyber workforce to adequately protect organisations and their critical assets. The study found that the gap between the demand and supply grew 12.6%. For organisations, this can mean a struggle in hiring cyber expertise.

To address the challenge of attracting and retaining quality senior security professionals, Black Arrow offers a fractional CISO service that gives flexible access to a whole team of specialists with wide expertise, experience and backgrounds in technology, governance and transformation, for less than the cost of hiring one individual.

Source: [Cyber Scoop]

What the Boardroom Is Missing: CISOs

According to a new study only 12% of S&P 500 companies have board directors with relevant cyber credentials, highlighting a major gap in expertise needed to keep organisations secure. As most organisations shift to digital and cloud-first strategies, businesses of all shapes and sizes must protect their assets. Unfortunately, there's a considerable gap between security leaders and the board directors responsible for managing businesses. A recent Harvard Business Review survey revealed just 47% regularly interact with their company's Chief Information Security Officer (CISO). That's a severe knowledge gap for a company's security and business leaders.

Introducing CISOs to the boardroom is not just about compliance, it's also about ensuring transparency and accountability. CISOs are already building security programs from the ground up. They provide business compliance, hire the right people, and find the right technology to supplement their team's efforts. Security posture is critical to an enterprise's future success, and having a CISO on the board that speaks the language can help a board understand if their business is making suitable security investments.

Source: [Dark Reading]

Top Cyber Stories of the Last Week

Governance, Risk and Compliance

• SEC Charges SolarWinds and Its CISO With Fraud and Cyber security Failures - SecurityWeek

• SolarWinds Is A Game Changer - You Cannot Sugarcoat Cyber security (forbes.com)

• Part of an executive team? You might be the biggest security risk to your business | TechRadar

• One in five executives have shared work passwords outside the company | Security Magazine

• Half of Execs Request Security Bypass Over Past Year - Infosecurity Magazine (infosecurity-magazine.com)

• Organisations can only stop 57 percent of cyber attacks (betanews.com)

• Cyber attacks cause revenue losses in 42% of small businesses - Help Net Security

• Huge Cyber security Industry Survey Reveals Concerns Over Cuts Amid New Threats - The Messenger

• Only 1 in 5 Business Leaders 'Extremely Prepared' to Manage Cyber security Threats at Workplace: Survey Report, Business News - AsiaOne

• 'Are we adversary aligned?' is the new 'Are we secure?' (betanews.com)

• Cyber security habits and behaviours executives need to be aware of - Help Net Security

• The hidden costs of data breaches for small businesses - Help Net Security

• Cyber workforce demand is outpacing supply, survey finds | CyberScoop

• How Do We Truly Make Security 'Everyone's Responsibility'? (darkreading.com)

• Why lack of training can put cyber security at risk [Q&A] (betanews.com)

• Cyber security Awareness Month Series: Cyber security is Important for Small Business Too. | Jackson Lewis P.C. - JDSupra

• Threat Prevention Begins With IT & Security Team Collaboration (darkreading.com)

• Are startups underestimating their cyber vulnerability? | Insurance Business America (insurancebusinessmag.com)

• The CISO’s toolkit must include political capital within the C-suite | CSO Online

• Do You Really Need a CISO? (securityintelligence.com)

• CISO Skills in a Changing Security Market: Are You Prepared? (darkreading.com)

• What the Boardroom Is Missing: CISOs (darkreading.com)

• Is it time to merge your fraud and cyber teams? - Raconteur

• OODA Loop - Deciphering the CISO Accountability Landscape: A Comparative Analysis with the AML Officer's Evolution

• Why there’s no one-size-fits all solution to security maturity | TechRadar

Threats

Ransomware, Extortion and Destructive Attacks

• Ransomware Never Sleeps - But It Strikes Whilst You Do - Infosecurity Magazine (infosecurity-magazine.com)

• Ransom Groups Threaten Physical Violence as Social Engineering Tactic (darkreading.com)

• Companies scramble to integrate immediate recovery into ransomware plans - Help Net Security

• Surviving a ransomware attack begins by acknowledging it's inevitable | VentureBeat

• Mass exploitation of CitrixBleed vulnerability, including a ransomware group | by Kevin Beaumont | Oct, 2023 | DoublePulsar

• The dangers of dual ransomware attacks - Help Net Security

• Do government sanctions against ransomware groups work? | TechCrunch

• Why rookie hackers are capitalizing on ransomware | SC Media (scmagazine.com)

• Experts Reconsider Banning Ransom Payments as Ransomware Attacks Surge (pymnts.com)

• Why ransomware victims can’t stop paying off hackers | TechCrunch

• Key Learnings from “Big Game” Ransomware Campaigns - SecurityWeek

• New Hunters International ransomware possible rebrand of Hive (bleepingcomputer.com)

• SIM Swappers Are Working Directly with Ransomware Gangs Now (404media.co)

• One of the most dangerous ransomware kits around might have just gotten a rebrand | TechRadar

• Forty Countries Agree Not to Pay Cyber crime Ransoms - Infosecurity Magazine (infosecurity-magazine.com)

• Ransomware attacks set to break records in 2023 - Help Net Security

• Know When and How to Stop Ransomware Attacks (finextra.com)

• HelloKitty Ransomware Group Exploiting Apache ActiveMQ Vulnerability (thehackernews.com)

• Data Encrypted in 75% of Ransomware Attacks on Healthcare Organisation - Infosecurity Magazine (infosecurity-magazine.com)

Ransomware Victims

• Boeing Confirms Cyber Attack, System Compromise (darkreading.com)

• CCleaner says hackers stole users’ personal data during MOVEit mass-hack | TechCrunch

• Stanford University investigating security incident • The Register

• Clop group obtained access to the email addresses of about 632,000 US federal employees (securityaffairs.com)

• Massive ransomware attack hinders services in 70 German municipalities (therecord.media)

• Medical research exec hit in SIM-swap attack by Alphv gang • The Register

• Caesars Hackers Accessed Customer Data; Costs to Be Determined (bloomberglaw.com)

• Mortgage and loan giant Mr. Cooper blames cyber attack for ongoing outage | TechCrunch

• Ransomware attack shuts down Central Florida radiology imager sites (wmfe.org)

• British, Toronto Libraries Struggle After Cyber Incidents (darkreading.com)

• Ace Hardware says 1,202 devices were hit during cyber attack (bleepingcomputer.com)

Phishing & Email Based Attacks

• Report Links ChatGPT to 1,265% Rise in Phishing Emails - Infosecurity Magazine (infosecurity-magazine.com)

• McAfee Celebrity Hot List 2023 - gHacks Tech News

• Phishing Scams, Bad Actors Bedevil Military Mass Tort Settlements (bloomberglaw.com)

Artificial Intelligence

• Email Phishing Attacks Up 1,265% Since ChatGPT Launched: SlashNext - Decrypt

• AI poses new cyber threats with many businesses unprepared (emergingrisks.co.uk)

• AI is making cyber attacks even smarter and more dangerous | TechRadar

• The People Hacker: AI a Game-Changer in Social Engineering Attacks - Infosecurity Magazine (infosecurity-magazine.com)

• Risk managers beware – generative AI spells serious concerns for security | Insurance Business America (insurancebusinessmag.com)

• 28 Countries Sign Bletchley Declaration on Responsible AI - Infosecurity Magazine (infosecurity-magazine.com)

• Biden Issues Executive Order on Safe, Secure AI - Infosecurity Magazine (infosecurity-magazine.com)

• UK AI Safety Summit is targeting evil sentience, but there are bigger problems to solve | Tom's Guide

• AI Safety Summit: OWASP Urges Governments to Agree on AI Standards - Infosecurity Magazine (infosecurity-magazine.com)

• Enterprise AI applications are threatening security | TechRadar

• What Lurks in the Dark: Taking Aim at Shadow AI (darkreading.com)

• ChatGPT, Bard, lack effective defences against fraudsters, Which? warns | Computer Weekly

• Huge Cyber security Industry Survey Reveals Concerns Over Cuts Amid New Threats - The Messenger

• The future of AIs fighting AIs is already here - POLITICO

• AI promises incredible benefits, but also terrible risks. It’s not luddism to rein it in | Sonia Sodha | The Guardian

Malware

• Over a million Windows and Linux systems infected by this tricky new malware | TechRadar

• DUCKTAIL Malware employs LinkedIn messages Execute Attacks (gbhackers.com)

• Daily malware activity doubled year over year for small businesses | Security Magazine

• Iranian Group Tortoiseshell Launches New Wave of IMAPLoader Malware Attacks (thehackernews.com)

• Malvertising via Dynamic Search Ads delivers malware bonanza (malwarebytes.com)

• Windows PCs are being targeted with a nasty new malware - here's what you need to know | TechRadar

• Pro-Hamas Hacktivists Targeting Israeli Entities with Wiper Malware (thehackernews.com)

• These Seemingly Innocent Search Terms Could Lead Kids to Malware-Filled Websites (pcmag.com)

• Malware 'Meal Kits' Serve Up No-Fuss RAT Attacks (darkreading.com)

• Arid Viper Camouflages Malware in Knockoff Dating App (darkreading.com)

• Scarred Manticore Targets Middle East With Advanced Malware - Infosecurity Magazine (infosecurity-magazine.com)

• Ghostpulse Malware Targets Windows PCs With Fake App Installers (pcmag.com)

• Latest RAT attack surge bypasses Microsoft's XLL block • The Register

• Mozi malware botnet goes dark after mysterious use of kill-switch (bleepingcomputer.com)

• Iranian Cyber Spies Use 'LionTail' Malware in Latest Attacks - SecurityWeek

• Turla Updates Kazuar Backdoor with Advanced Anti-Analysis to Evade Detection (thehackernews.com)

Mobile

• 16 more infected Android apps you need to delete ASAP (bgr.com)

• iOS 17.1 finally fixes a three-year-old Private Wi-Fi Address security hole | Macworld

• Android 14’s user-profile data bug seems indistinguishable from ransomware | Ars Technica

• New banking scams delivered instantly via WhatsApp - F-Secure Blog

• Every day, half a million malware apps are created for scamming. Who’s behind them? - CNA (channelnewsasia.com)

• Security Expert: Apple's Lockdown Mode Still Defeats Commercial Spyware | PCMag

• Google One data breach: Dark web report at your hand - gHacks Tech News

• SIM swapping crypto crook jailed, ordered to pay $945,833 • The Register

• SIM Swappers Are Working Directly with Ransomware Gangs Now (404media.co)

• Israel Calls In Hackers And Spyware Companies To Break Into Abductees’ Phones (forbes.com)

Denial of Service/DoS/DDOS

• DDoS attacks are getting bigger and more powerful, and that's a really bad thing | TechRadar

• Why Does "Anonymous" Launch DDoS Cyber Attacks? (makeuseof.com)

Internet of Things – IoT

• IoT's convenience comes with cyber security challenges - Help Net Security

• RCE exploit for Wyze Cam v3 publicly released, patch now (bleepingcomputer.com)

Data Breaches/Leaks

• CCleaner says hackers stole users’ personal data during MOVEit mass-hack | TechCrunch

• Okta discloses a data breach after a third-party vendor was hacked (securityaffairs.com)

• ServiceNow Data Exposure: A Wake-Up Call for Companies (thehackernews.com)

• LastPass breach linked to theft of $4.4 million in crypto (bleepingcomputer.com)

• Public exposure of data breaches is becoming inevitable – Help Net Security

• Browser extensions could capture passwords and sensitive info as plain text (techxplore.com)

• Seiged Sec Breach Top Israeli Telecom, Leak Customers Data (dailydot.com)

Organised Crime & Criminal Actors

• ‘Prolific Puma’ Hacker Gives Cyber criminals Access to .us Domains (darkreading.com)

• Two Russians indicted for hacking JFK taxi dispatch system • The Register

• How cyber criminals adapt and thrive amidst changing consumer trends – Help Net Security

Cryptocurrency/Cryptomining/Cryptojacking/NFTs/Blockchain

• Crypto thief steals $4.4M in a day as toll rises from LastPass breach (cointelegraph.com)

• UK's National Crime Agency Establishes Crypto Investigative Team (mpost.io)

• Sam Bankman-Fried found guilty of defrauding FTX customers out of billions | Sam Bankman-Fried | The Guardian

Insider Risk and Insider Threats

• How human behaviour research informs security strategies - Help Net Security

Insurance

• The rise of the cyber security insurance market | CSO Online

• Cyber insurance: why it pays to be responsible | TechRadar

Supply Chain and Third Parties

• N. Korean Lazarus Group Targets Software Vendor Using Known Flaws (thehackernews.com)

• North Korean Hackers Are Trying to Stage Another Supply Chain Hack (pcmag.com)

• Okta discloses a data breach after a third-party vendor was hacked (securityaffairs.com)

Cloud/SaaS

• Within 5 Minutes, Hackers Were Able to Get AWS Credentials From GitHub (cyber securitynews.com)

• Cryptojackers steal AWS credentials from GitHub in 5 minutes • The Register

• Microsoft is Getting Serious About Security. Again. - Thurrott.com

• Microsoft is overhauling its software security after major Azure cloud attacks - The Verge

Identity and Access Management

• Identity-based security threats are growing rapidly: report | CSO Online

Encryption

• UK Banks Warn Quantum Will Imperil Entire Payment System - Infosecurity Magazine (infosecurity-magazine.com)

Passwords, Credential Stuffing & Brute Force Attacks

• Your end-users are reusing passwords – that’s a big problem (bleepingcomputer.com)

• One in five executives have shared work passwords outside the company | Security Magazine

• Within 5 Minutes, Hackers Were Able to Get AWS Credentials From GitHub (cybersecuritynews.com)

• Browser extensions could capture passwords and sensitive info as plain text (techxplore.com)

Social Media

• DUCKTAIL Malware employs LinkedIn messages Execute Attacks (gbhackers.com)

• Russian hacking tool floods social networks with bots, researchers say (therecord.media)

Malvertising

• Malvertising via Dynamic Search Ads delivers malware bonanza (malwarebytes.com)

Training, Education and Awareness

• Finding the right approach to security awareness - Help Net Security

• Why lack of training can put cyber security at risk [Q&A] (betanews.com)

Regulations, Fines and Legislation

• FTC orders non-bank financial firms to report breaches in 30 days (bleepingcomputer.com)

• SEC Charges SolarWinds and Its CISO With Fraud and Cyber security Failures - SecurityWeek

• Why The SEC Cyber Security Disclosure Rules Will Improve Cybersecurity (forbes.com)

• The UK Online Safety Bill Becomes Law, What Does It Mean? | Hackaday

• Biden Issues Executive Order on Safe, Secure AI - Infosecurity Magazine (infosecurity-magazine.com)

• Setting the standard for cyber security across the EU | Business Post

Models, Frameworks and Standards

• Top 12 IT security frameworks and standards explained | TechTarget

• MITRE Releases ATT&CK v14 With Improvements to Detections, ICS, Mobile  - SecurityWeek

Careers, Working in Cyber and Information Security

• UK cyber skills gap grows 29% despite record hiring (computing.co.uk)

• Cyber workforce demand is outpacing supply, survey finds | CyberScoop

• Cyber security workforce shortages: 67% report people deficits - Help Net Security

• CISO Skills in a Changing Security Market: Are You Prepared? (darkreading.com)

• What the Boardroom Is Missing: CISOs (darkreading.com)

Law Enforcement Action and Take Downs

• Pirate IPTV network in Austria dismantled and $1.74 million seized (bleepingcomputer.com)

• SIM swapping crypto crook jailed, ordered to pay $945,833 • The Register

• UK's National Crime Agency Establishes Crypto Investigative Team (mpost.io)

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

Misc Nation State/Cyber Warfare/Cyber Espionage

• Cyber War: Power, Prestige, International Governance, and Strategy in the Age of Global Polycrisis

Geopolitical Threats/Activity

• Hacktivist Activity Related to Gaza Conflict Dwindles (darkreading.com)

• New BiBi-Linux wiper malware targets Israeli orgs in destructive attacks (bleepingcomputer.com)

• Scarred Manticore Targets Middle East With Advanced Malware - Infosecurity Magazine (infosecurity-magazine.com)

• Israel Calls In Hackers And Spyware Companies To Break Into Abductees’ Phones (forbes.com)

China

• Spies and Lies: China’s Cyber Espionage Is on an Unprecedented Level | Mind Matters

• Microsoft upgrades security for signing keys in wake of Chinese breach | CyberScoop

Russia

• Boeing. ‘Sensitive Data’ Reportedly Stolen by Ransomware Group Linked to Russia - The Messenger

• IT Army of Ukraine disrupted internet providers in territories occupied by Russia (securityaffairs.com)

• Russian hacking tool floods social networks with bots, researchers say (therecord.media)

• Palo Alto Reveals New Features in Russian APT Turla's Kazuar Backdoor - Infosecurity Magazine (infosecurity-magazine.com)

• FSB arrests Russian hackers working for Ukrainian cyber forces (bleepingcomputer.com)

• Russia to launch its own version of VirusTotal due to US snooping fears (therecord.media)

• A Ukrainian Company Shares Lessons in Wartime Resilience (darkreading.com)

• Two Russians indicted for hacking JFK taxi dispatch system • The Register

Iran

• Iranian Group Tortoiseshell Launches New Wave of IMAPLoader Malware Attacks (thehackernews.com)

• Iranian Cyber Spies Use 'LionTail' Malware in Latest Attacks - SecurityWeek

• In Cyber attacks, Iran Shows Signs of Improved Hacking Capabilities - The New York Times (nytimes.com)

• New Iranian state-sponsored hacking campaign uncovered - SiliconANGLE

• FBI Director Warns of Increased Iranian Attacks (darkreading.com)

• Iran's MuddyWater Targets Israel in New Spear-Phishing Cyber Campaign (thehackernews.com)

• 'Scarred Manticore' Unleashes the Most Advanced Iranian Cyber Espionage Yet (darkreading.com)

North Korea

• North Korean Hackers Are Trying to Stage Another Supply Chain Hack (pcmag.com)

• Lazarus Group Looking for Unpatched Software Vulnerabilities (databreachtoday.co.uk)

• North Korean Hackers Target macOS Crypto Engineers With Kandykorn - Infosecurity Magazine (infosecurity-magazine.com)

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Vulnerability Management

• Lazarus Group Looking for Unpatched Software Vulnerabilities (databreachtoday.co.uk)

• 20 Years Later, Is Patch Tuesday Enough? (darkreading.com)

• CVSS 4.0 keys-in on threat intelligence metrics and OT, ICS and IoT | SC Media (scmagazine.com)

• Vulnerability management metrics: How to measure success - Help Net Security

• From Windows 9x to 11: Tracing Microsoft's security evolution - Help Net Security

• It's Cheap to Exploit Software — and That's a Major Security Problem (darkreading.com)

Vulnerabilities

• Exploit released for critical Cisco IOS XE flaw, many hosts still hacked (bleepingcomputer.com)

• F5 fixes BIG-IP auth bypass allowing remote code execution attacks (bleepingcomputer.com)

• Mass exploitation of CitrixBleed vulnerability, including a ransomware group | by Kevin Beaumont | Oct, 2023 | DoublePulsar

• Hackers use Citrix Bleed flaw in attacks on govt networks worldwide (bleepingcomputer.com)

• Cisco Patches 27 Vulnerabilities in Network Security Products - SecurityWeek

• Chrome 119 Patches 15 Vulnerabilities - SecurityWeek

• Atlassian warns users: patch critical Confluence flaw ASAP • The Register

• Researchers Find 34 Windows Drivers Vulnerable to Full Device Takeover (thehackernews.com)

• Urgent: New Security Flaws Discovered in NGINX Ingress Controller for Kubernetes (thehackernews.com)

• D-LINK SQL Injection Vulnerability Let Attacker Escalate Privileges (gbhackers.com)

• 3,000 Apache ActiveMQ servers vulnerable to RCE attacks exposed online (bleepingcomputer.com)

• More Than 100 Vulns in Microsoft 365 Tied to SketchUp 3D Library (darkreading.com)

• No patches yet for Apple iLeakage side-channel attack | TechTarget

• HelloKitty Ransomware Group Exploiting Apache ActiveMQ Vulnerability (thehackernews.com)

• iOS 17.1 finally fixes a three-year-old Private Wi-Fi Address security hole | Macworld

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Tools and Controls

• Companies scramble to integrate immediate recovery into ransomware plans - Help Net Security

• Vulnerability management metrics: How to measure success - Help Net Security

• 6 steps to accelerate cyber security incident response | SC Media (scmagazine.com)

• Ethical hackers are helping more and more business stay safe | TechRadar

• Getting Smart With Cyber security: AI Can Help the Good Guys, Too (darkreading.com)

• Massive cyber crime URL shortening service uncovered via DNS data (bleepingcomputer.com)

• The state of API security in 2023 | InfoWorld

• Is There a Silver Bullet in Threat Detection? | MSSP Alert

• Huge Cyber security Industry Survey Reveals Concerns Over Cuts Amid New Threats - The Messenger

• Defence in depth: Layering your security coverage (securityintelligence.com)

• Finding the right approach to security awareness - Help Net Security

• Is state intervention needed for cyber insurance? (ft.com)

• CISA Announces New Release of Logging Made Easy | CISA

• Security Advice For Virtualization: Protecting Information And Programs (informationsecuritybuzz.com)

• Mainframes are around to stay, it’s time to protect them - Help Net Security

• Responsible Cyber Operations: From Theory to Reality - Infosecurity Magazine (infosecurity-magazine.com)

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Reports Published in the Last Week

Cyber Readiness Report 2023 UK - Hiscox

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Other News

• Are You and Your Clients Soft Targets? | MSSP Alert

• Four Under-The-Radar Security Risks That Can Endanger Your Business (forbes.com)

• ING CISO says data sharing is key to financial cyber security (finextra.com)

• Threat Prevention Begins With IT & Security Team Collaboration (darkreading.com)

• F5 Labs Report Reveals Rise in Malicious Automation | The Fintech Times

• Microsoft Vows to Revamp Security Products After Repeated Hacks - Bloomberg

• Microsoft launches Secure Future Initiative to bolster security | TechTarget

• The 5 Cs of effective cyber defence: Beyond traditional technical skills | SC Media (scmagazine.com)

• 9 Innovative Ways to Boost Security Hygiene for Cyber Awareness Month (darkreading.com)

• How governments can keep data secure in a digital age - New Statesman

• Are startups underestimating their cyber vulnerability? | Insurance Business America (insurancebusinessmag.com)

• Preventing and preparing for law firm cyber security attacks is fundamental to success | Casetext - JDSupra

• Cyber security insights for secure manufacturing - Aerospace Manufacturing and Design

• Demystifying the top five OT security myths | Computer Weekly

• 20 scary cyber security facts and figures for a haunting Halloween (welivesecurity.com)

• Construction among industries most at risk from cyber attacks, insurer warns | News | Building

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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

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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 13 October 2023

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

Small Businesses Hit by Frequent Cyber Attacks, as 90% of CISOs of Larger Firms Faced at least One Attack Last Year

A survey by Payroll provider Sage found that nearly 48% of small and medium sized enterprises (SMEs) have experienced at least one cyber incident in the past year; of note, this is only based on SMEs self-reporting, and requires SMEs to have both the ability to detect an incident and to have actually identified an incident and then self-report it. The survey found that cyber security was a priority with 68% of respondents reporting that they would use a more expensive security control if it demonstrated better security.

In a separate report by Splunk, it was found that 90% of CISOs reported experiencing at least one disruptive attack in the past year. The difference in numbers could be because organisations who have a CISO are more likely to have tools in place to detect an incident.

Regardless, cyber criminals are showing that any size of organisation can be a victim of a cyber incident and in some cases, smaller organisations may not have the necessary budget and controls to prevent an attack.

Sources: [Security Magazine] [Insurance Times] [Infosecurity Magazine]

The Most Effective Cyber Attacks Never Touch Your Organisation’s Firewall, and HR’s Role in Defending the Organisation

In 2022, total spending on cyber security technologies increased to 71.1 billion USD, illustrating just how much effort goes into protecting companies, their data, and their customers. Regardless of all this spending, there remains a popular attack which can bypass this all: social engineering. Attackers know how much technology protection is placed in organisations, so they often try to bypass this and go straight through the employees.

Cyber security will never work if organisations do not go beyond IT; it is a business-wide issue and requires the engagement and input from across the business, including functions like Human Resources. Having effectively trained employees is a crucial part of creating a culture of security within an organisation, and this starts with HR. Employees will often have training as part of their onboarding and then regular training to ensure competencies; as part of HR’s role, this should include commissioning training on cyber security that is delivered by cyber security experts that understand what attackers are doing.

Source: [News Week] [Beta News]

Ransomware Infection Times Fall from 5 Days to 5 Hours

The amount of time it takes an attacker to infect a system with ransomware has fallen drastically over the last 12 months according to a recent report. The median dwell time (the time that an attacker spends in a victim’s network before being detected) was 5.5 days in 2021, reducing to 4.5 days in 2022, and this year it fell to less than 24 hours with, in 10% of cases, the time taken to deploy ransomware being within 5 hours. As threat actors continue to leverage Ransomware as a Service (RaaS) to execute attacks, dwell times will continue to decrease and the number of attacks will increase.

This coincides with a recent survey by Hornetsecurity that revealed that almost 60% of businesses are concerned about ransomware attacks. 92% of businesses are reported to be aware of ransomware’s potential negative impact, but just 54% of respondents say their leadership is actively involved in conversations and decision making to help prevent attacks.

The report highlights that ransomware is still at large, with the first half of 2023 seeing more ransomware victims than in the whole of 2022. Having good cyber security protection and hygiene is the key to ongoing success. Organisations cannot afford to become victims. Ongoing security awareness training and multi-layered ransomware protection are critical to help avoid insurmountable losses.

Sources: [Cision] [PC Mag] [Security Magazine]

80% of Security Leaders See AI as the Biggest Threat to Business

A report has found that a large majority of security leaders (80%) believe Artificial Intelligence (AI) is the biggest cyber threat to their business, and that the risks of AI outweigh the many advantages.

In a separate report, 58% agreed that AI is increasing the number of cyber attacks. The benefits of AI were also recognised however, with 73% reporting AI to be an increasingly important tool for security operations.

With AI finding itself both sides of the coin, it is important for organisations to effectively implement their AI solutions, so that they can improve their security whilst reducing the risk that AI presents to their organisation.

Sources: [Diginomica] [Infosecurity Magazine]

Is Your Board Cyber-Ready?

With the recent US Securities and Exchange Commission (SEC) requirements entering effect, and the impending Digital Operational Resilience Act (DORA) requirements for Europe, there is yet another layer added to the complicated issues of managing cyber security risks. However, it is clear that strong corporate governance equips companies to address them efficiently and accurately.

Governance starts with the board, as it is responsible for the oversight of the organisation’s cyber security programs. For a board to do this effectively, the leadership team must be able to understand cyber security; yet despite this, a study found that only 12% of boards had a cyber expert. Black Arrow supports business leaders in organisations of all sizes to gain a strong practical understanding of the fundamentals of cyber security risk management, and to demonstrate governance in implementing their cyber security strategy by leveraging their existing internal and external resources.

Sources: [Harvard.edu] [JDSupra]

Cyber Security Should Be a Business Priority for CEOs

A recent report found that despite 96% of CEOs saying that cyber security is critical to organisational growth and stability, 74% of CEOs are concerned about their organisation’s ability to avert or minimise damage arising from a cyber attack. The report also highlighted that 60% of CEOs don’t incorporate cyber security into their business strategies, products or services from the beginning. 44% believe that cyber security requires episodic intervention rather than ongoing attention.

Adding to this reactive stance is the incorrect assumption by 54% of CEOs that the cost of implementing cyber security is higher than the cost of suffering a cyber attack, despite history showing otherwise. For instance, the report notes that a global shipping and logistics company breach resulted in a 20% drop in business volume, with losses hitting $300 million. In addition, despite 90% of CEOs saying cyber security is a differentiating factor for their products or services to help them build customer trust, only 15% have dedicated board meetings to discuss cyber security issues. This disconnect might be explained by the fact that 91% of CEOs said cyber security is a technical function that is the responsibility of the CIO or CISO.

Source: [HelpNet Security]

The Looming Threat of a Single Phishing Click to Your Business

A single click could be all it takes to get the ball rolling and allow an attacker entry into your organisation. From there, the possibilities are endless. Phishing impacts any employee within the organisation with an email account, phone number or access to the web.

Organisations can mitigate this risk however, by conducting training and awareness programmes, aimed at improving employees’ abilities to identify, report and avoid falling victim to phishing incidents. Such training should be held regularly to maintain their knowledge as well as adapting to the ever-changing landscape of cyber crime. Black Arrow supports organisations of all sizes in designing and delivering proportionate user education and awareness programmes, including in-person and online training as well as simulated phishing campaigns. Our programmes help secure employee engagement and build a cyber security culture to protect the organisation. 

Source: [CMS-lawnow]

40% of Organisations Leave Ransomware to IT

A report found that 93% of respondents said they believe ransomware protection is “very” to “extremely” important in terms of IT priorities for their organisation, yet only 54% reported that the leadership were actively involved in conversations and decision-making around ransomware attacks, and 40% of total respondents were happy to leave the IT team to deal with ransomware attacks.

By only involving the IT team and excluding the leadership, organisations are at risk of not addressing regulatory requirements, or failing to manage such cyber incidents within a business context. This would also suggest a lack of an effective Incident Response Plan to ensure that considerations such as legal, communications, customers, employees and other stakeholders are not forgotten. Black Arrow works with organisations of all sizes and sectors to design and prepare for managing a cyber security incident; this can include an Incident Response Plan and an educational tabletop exercise for the leadership team that highlights the proportionate controls to help the organisation prevent and mitigate an incident.

Source: [MSSP Alert]

Auditors’ Growing Concern About Cyber Security

The majority of chief audit executives and information technology audit leaders consider cyber security to be a top risk over the next year. The survey found that found that nearly 75% of respondents, and an even higher percentage (82%) of technology audit leaders, consider cyber security to be a high-risk area over the next 12 months.

Source: [Accounting Today]

Preparing for the Unexpected: A Proactive Approach to Operational Resilience

Recent insights highlight a pressing need: ensuring operational resilience in financial firms. As the financial sector remains a prime target for cyber threats, the increasing interconnectedness presents evolving challenges. While cyber security aims to defend against attacks, operational resilience ensures the continuity of operations even when incidents occur.

Notably, the EU’s Digital Operational Resilience Act (DORA) stresses preparedness, providing a framework for the industry. Although business continuity practices exist, operational resilience offers a more proactive stance, ensuring system reliability that is crucial for global financial trust. Achieving this requires a comprehensive risk assessment, laying the groundwork for a resilient strategy tailored to a firm’s unique position in the financial landscape.

Source: [Dark Reading]

Staggering Losses to Social Media and Social Engineering Since 2021, as Victims Take $2.7 Billion Hit in US Alone

The US Federal Trade Commission (FTC) reports that Americans alone, have lost $2.7 billion to social media and social engineering scams since 2021. The losses were incurred through websites, phone calls and email.

It is important for organisations to consider that such scams could very well find themselves in the corporate environment. Already, there has been a significant rise in attacks on employees through LinkedIn. As such, it is important for organisations to provide education and awareness training to users.

Sources: [Bleeping Computer] [Infosecurity Magazine]

Organisations Grapple with Detection and Response Despite Rising Security Budgets

A study by EY found that only a fifth of cyber security leaders today are confident about their organisation’s cyber security approach, with only half trusting the training they provide in-house. CISO respondents reported an average annual spend of $35 million on cyber security, with the median cost of a breach jumping 12% to $2.5 million. The leaders said they anticipate the cost per breach to reach $4 million by the end of the year.

The report found that the biggest internal challenges to the organisation's cyber security approach were "too many potential attack surfaces" at 52%, and "difficulty balancing security and innovation speed" at 50%. The study also noted big discrepancies between the CISOs and other C-suite leaders when it came to their organisation's cyber security preparedness. While 60% of CISOs were confident about the C-suite integration of cyber security into key business decisions, only over half of other C-suite officers believed they were effective. There was also a significant gap (12%) between their satisfaction with the overall cyber security preparedness.

Source: [CSO Online]

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Governance, Risk and Compliance

• Half of CISOs Now Report to CEO as Influence Grows - Infosecurity Magazine (infosecurity-magazine.com)

• Auditors more worried about cyber security than AI risks | Accounting Today

• 77% of Cyber security Breaches Linked to Third-Party Risks: Navigating the New Threat Landscape (govinfosecurity.com)

• CEOs concerned about organisations’ ability to avert cyber attacks, despite understanding their impact: Report - The Hindu

• Cyber Security Survey: 40% of Orgs “Leave” Ransomware to IT | MSSP Alert

• Cyber attacks are only getting worse for business, so what are CISOs doing about it? | TechRadar

• Warning as more businesses fall victim to cyber attacks | Insurance Times

• PwC survey reveals rising concerns over cyber security and generative AI in 2024 - Reinsurance News

• The Role of HR in Engaging the Workforce for Holistic Cyber Security (newsweek.com)

• 90% firms experienced cyber attacks; 83% opted to pay attackers: Report (business-standard.com)

• The world was already horrifying — technology is making it more so - The Hustle

• State of Cyber Awareness in the Boardroom (harvard.edu)

• What The Board Needs To Know: Cyber Attack Costs - WSJ

• Cyber security is a mindset, not just a set of tools and technologies. (techuk.org)

• Is Your Board Cyber-Ready? Leadership Steps to Support Corporate Cyber Security | Jackson Lewis P.C. - JDSupra

• Cyber security should be a business priority for CEOs - Help Net Security

• Organisations grapple with detection and response despite rising security budgets | CSO Online

• The undeniable benefits of making cyber resiliency the new standard | CSO Online

• Preparing for the Unexpected: A Proactive Approach to Operational Resilience (darkreading.com)

• Cyber insurance costs pressure business budgets - Help Net Security

• C-suite weighs in on generative AI and security (securityintelligence.com)

• Cyber security overtakes cloud as top area of investment - The Recycler - 10/10/2023

• New Wave of Cyber Threats Challenges In-House Legal Departments (bloomberglaw.com)

• Should businesses follow Google’s footsteps in cyber security? | TechRadar

• Cyber security is booming but it comes at a human cost (betanews.com)

• A Primer on Cyber Risk Acceptance and What it Means to Your Business (bleepingcomputer.com)

• What is Risk Appetite? | Definition from TechTarget

• A Cyber security Risk Assessment Guide for Leaders (trendmicro.com)

• Addressing a Breach Starts With Getting Everyone on the Same Page (darkreading.com)

• Uber's Ex-CISO Appeals Conviction Over 2016 Data Breach (darkreading.com)

• 6 steps to getting the board on board with your cyber security program (welivesecurity.com)

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Threats

Ransomware, Extortion and Destructive Attacks

• First half of 2023 sees more ransomware victims than all of 2022 | Security Magazine

• Cyber security Survey: 40% of Orgs “Leave” Ransomware to IT | MSSP Alert

• Cyber criminals can go from click to compromise in less than a day - Help Net Security

• Ransomware Infection Times Fall From 5 Days to 5 Hours (pcmag.com)

• Almost 60% Of Businesses Are 'Very' To 'Extremely' Concerned About Ransomware Attacks - Hornetsecurity Annual Ransomware Survey (Prnewswire.Com)

• Ransomwared health insurer wasn't using anti-virus software • The Register

• Everest searching for corporate insiders amid rare pivot • The Register

• HelloKitty ransomware source code leaked on hacking forum (bleepingcomputer.com)

• How to Prevent Ransomware as a Service (RaaS) Attacks (trendmicro.com)

• SEC Investigating Progress Software Over MOVEit Hack - Security Week

• Ransomware attacks now target unpatched WS_FTP servers (bleepingcomputer.com)

• Ransomware Attack on Hospitals Highlights Need to Ensure Continuity of Patient Care (fdd.org)

Ransomware Victims

• MGM Suffers $100mn loss following cyber attack, hopes insurance cover will be sufficient (insuranceinsider.com)

• Cyber attack victim Estes making ‘steady progress’ - FreightWaves

• Caesars Offers Two Years of IDX Services to Compromised Data Victims - GamblingNews

• Ransomwared health insurer wasn't using anti-virus software • The Register

• BianLian extortion group claims recent Air Canada breach (bleepingcomputer.com)

• Ransomware group starts leaking data allegedly from NJ cardiology consultants group (databreaches.net)

Phishing & Email Based Attacks

• The looming threat of a single phishing click to your business (cms-lawnow.com)

• Hackers are using AI for phishing | Windows Central

• What to do if you’ve clicked on a phishing link or talked to scammers | Kaspersky official blog

• LinkedIn Smart Links attacks return to target Microsoft accounts (bleepingcomputer.com)

• Phishing, the campaigns that are affecting Italy (securityaffairs.com)

BEC – Business Email Compromise

• What is business email compromise (BEC)? | ITPro

Other Social Engineering; Smishing, Vishing, etc

• Social Dominates as Victims Take $2.7bn Fraud Hit - Infosecurity Magazine (infosecurity-magazine.com)

• Boss of world’s largest cinema chain victim of catfish blackmail plot | Business | The Guardian

Artificial Intelligence

• PwC survey reveals rising concerns over cyber security and generative AI in 2024 - Reinsurance News

• 'Really frightening': IT leaders on cyber security in the age of AI (computing.co.uk)

• Cyber security pros predict rise of malicious AI - Help Net Security

• Downing Street trying to agree statement about AI risks with world leaders | Artificial intelligence (AI) | The Guardian

• Why 80% of CISOs see AI as the biggest threat to their business (diginomica.com)

• C-suite weighs in on generative AI and security (securityintelligence.com)

• Hackers are using AI for phishing | Windows Central

• 68 percent of IT decision makers are worried about the rise of deepfakes (betanews.com)

• US Space Force Pauses Generative AI Based on Security Concerns (bloomberglaw.com)

• Generative AI Security: Preventing Microsoft Copilot Data Exposure (bleepingcomputer.com)

• How to Guard Your Data from Exposure in ChatGPT (thehackernews.com)

2FA/MFA

• Account Hacking Over Starlink Sparks Calls For Two-Factor Authentication (pcmag.com)

Malware

• Mirai DDoS malware variant expands targets with 13 router exploits (bleepingcomputer.com)

• Microsoft to kill off VBScript in Windows to block malware delivery (bleepingcomputer.com)

• How Keyloggers Have Evolved From the Cold War to Today (darkreading.com)

• Endpoint malware attacks decline as campaigns spread wider - Help Net Security

Mobile

• Beware - GoldDigger malware will drain your bank accounts without you even realizing | TechRadar

• China-based Supply Chain Cyber Attacks Hit Thousands of Android Devices | MSSP Alert

• Android devices shipped with backdoored firmware as part of the BADBOX network (securityaffairs.com)

• Operation Behind Predator Mobile Spyware Is 'Industrial Scale' (darkreading.com)

• Hacktivists send fake nuclear attack warning via Israeli Red Alert app (bitdefender.com)

• 5 quick tips to strengthen your Android phone security today | ZDNET

Botnets

• Mirai DDoS malware botnet variant expands targets with 13 router exploits (bleepingcomputer.com)

Denial of Service/DoS/DDOS

• HTTP/2 Zero-Day Vulnerability Results in Record-Breaking DDoS Attacks (cloudflare.com)

• Google, Amazon Face Massive Denial-of-Service Attack | MSSP Alert

Internet of Things – IoT

• Connected vehicles can be at risk of hacking, consumer awareness paramount: experts - Victoria Times Colonist

• Automotive cyber security: A decade of progress and challenges - Help Net Security

• Android TV malware case worsens: Tens of millions of devices infected - FlatpanelsHD

• Have You Changed the Default Passwords on Your IoT Devices? (makeuseof.com)

• Android devices shipped with backdoored firmware as part of the BADBOX network (securityaffairs.com)

• High-Severity Flaws in ConnectedIO's 3G/4G Routers Raise Concerns for IoT Security (thehackernews.com)

• Mirai Variant IZ1H9 Adds 13 Exploits to Arsenal - Security Week

• Exposed security cameras in Israel and Palestine pose significant risks (securityaffairs.com)

Data Breaches/Leaks

• 3.81 billion records compromised by cyber security incidents in September 2023 (itsecuritywire.com)

• US Smashes Annual Data Breach Record With Three Months Left - Infosecurity Magazine (infosecurity-magazine.com)

• 23andMe Cyberbreach Exposes DNA Data, Potential Family Ties (darkreading.com)

• Hackers compile database of people of Jewish descent using stolen 23andMe user data - Washington Times

• DC Board of Elections confirms voter data stolen in site hack (bleepingcomputer.com)

• Lyca Mobile says customer data was stolen during cyber attack | TechCrunch

• Third Flagstar Bank data breach since 2021 affects 800,000 customers (bleepingcomputer.com)

• Caesars Offers Two Years of IDX Services to Compromised Data Victims - GamblingNews

• Air Europa customers urged to cancel cards following hack on payment system (therecord.media)

• Dymocks breach happened while changing providers | Information Age | ACS

• 88% of Hospitals And Other Health-Care Organisations Faced Cyber Attacks Last Year (databreaches.net)

• Shadow PC warns of data breach as hacker tries to sell gamers' info (bleepingcomputer.com)

Organised Crime & Criminal Actors

• The cyber villains are getting bolder. Businesses need to up their game - Raconteur

• Minister:  ‘Cyber criminals are often in uncooperative jurisdictions – making international collaboration essential’ – PublicTechnology

• Protecting your business against the cyber criminal enterprise (techuk.org)

• Cyber attackers are combining attacks to bypass detection (siliconrepublic.com)

• Hackers 'don't break in anymore, they log in,' expert explains (yahoo.com)

Cryptocurrency/Cryptomining/Cryptojacking/NFTs/Blockchain

• North Korea-linked Lazarus APT laundered over $900 million through cross-chain crime (securityaffairs.com)

• ‘I felt powerless’: how a crypto scam cost a finance boss £300,000 | Scams | The Guardian

• Inside FTX’s All-Night Race to Stop a $1 Billion Crypto Heist | WIRED

Insider Risk and Insider Threats

• Everest searching for corporate insiders amid rare pivot • The Register

• Time to safeguard the financial sector? Navigating employee turnover to defend against cyber attacks - Digital Journal

• Former US soldier accused of trying to pass secrets to China • The Register

• The Mind of the Inside Attacker (informationweek.com)

• Understanding the human factor of digital safety | TechRadar

Fraud, Scams & Financial Crime

• Fooled by cyber criminals: The humanitarian CEO scammed by hackers - GZERO Media

• Global job scam to cause $100 mn in losses for over 1,000 companies: Report (odishatv.in)

• FTC warns of ‘staggering’ losses to social media scams since 2021 (bleepingcomputer.com)

• The dark side of solar panels – how crooks are exploiting net zero (telegraph.co.uk)

• Chinese Criminals Backdoor Android Devices for Ad Fraud (govinfosecurity.com)

• UK users of illicit streaming services warned of risk of fraud or police visit | TV streaming | The Guardian

• Social Dominates as Victims Take $2.7bn Fraud Hit - Infosecurity Magazine (infosecurity-magazine.com)

• ‘I felt powerless’: how a crypto scam cost a finance boss £300,000 | Scams | The Guardian

• Inside FTX’s All-Night Race to Stop a $1 Billion Crypto Heist | WIRED

• What to do if you’ve clicked on a phishing link or talked to scammers | Kaspersky official blog

• Never click on bank-draining words if message pops up, expert warns (ladbible.com)

• Boss of world’s largest cinema chain victim of catfish blackmail plot | Business | The Guardian

Deepfakes

• 68 percent of IT decision makers are worried about the rise of deepfakes (betanews.com)

AML/CFT/Sanctions

• North Korea-linked Lazarus APT laundered over $900 million through cross-chain crime (securityaffairs.com)

Insurance

• Cyber insurance costs pressure business budgets - Help Net Security

• Insurance industry faces growing concerns over cyber cat risk: Gallagher Re - Reinsurance News

• Cyber Insurance Lessens the Sting of Corporate Cyber Attacks (bloomberglaw.com)

• Keeping up with the demands of the cyber insurance market - Help Net Security

• Insurance cover ‘sufficient’ for $100mn cyber attack hit: MGM (insuranceinsider.com)

Supply Chain and Third Parties

• 77% of Cyber security Breaches Linked to Third-Party Risks: Navigating the New Threat Landscape (govinfosecurity.com)

• Cyber attack hits electronics firm Volex (cityam.com)

Software Supply Chain

• Why open-source software supply chain attacks have tripled in a year | CSO Online

• New One-Click Exploit Is a Supply Chain Risk for Linux OSes (darkreading.com)

Cloud/SaaS

• The Need for Speed: When Cloud Attacks Take Only 10 Minutes (darkreading.com)

• Microsoft and Cabinet Office issue government-wide security guidelines for M365 – PublicTechnology

• Microsoft Releases October 2023 Patches for 103 Flaws, Including 2 Active Exploits (thehackernews.com)

• Securely Moving Financial Services to the Cloud (darkreading.com)

Identity and Access Management

• Why identity infrastructure is the new cyber attack surface (siliconrepublic.com)

Encryption

• New cryptographic protocol aims to bolster open-source software security | ZDNET

• Linux Foundation Announces OpenPubkey Open Source Cryptographic Protocol - Security Week

API

• You can't avoid APIs, so you need to secure them (betanews.com)

Open Source and Linux

• New cryptographic protocol aims to bolster open-source software security | ZDNET

• Why open-source software supply chain attacks have tripled in a year | CSO Online

• Linux Foundation Announces OpenPubkey Open Source Cryptographic Protocol - Security Week

• Security Patch for Two New Flaws in Curl Library Arriving on October 11 (thehackernews.com)

• Maintainers warn of vulnerability affecting foundational open-source tool (therecord.media)

• New One-Click Exploit Is a Supply Chain Risk for Linux OSes (darkreading.com)

• US Government Issues Open-Source Security Guidance for Critical Infras - Infosecurity Magazine (infosecurity-magazine.com)

Passwords, Credential Stuffing & Brute Force Attacks

• CISA publishes top 10 most common security misconfigurations • The Register

• Have You Changed the Default Passwords on Your IoT Devices? (makeuseof.com)

• Take an Offensive Approach to Password Security by Continuously Monitoring for Breached Passwords (thehackernews.com)

Social Media

• FTC warns of ‘staggering’ losses to social media scams since 2021 (bleepingcomputer.com)

• Social Dominates as Victims Take $2.7bn Fraud Hit - Infosecurity Magazine (infosecurity-magazine.com)

• Elon Musk’s vision for free speech on X tested by Israel-Hamas war misinformation | Financial Times (ft.com)

• LinkedIn Smart Links attacks return to target Microsoft accounts (bleepingcomputer.com)

• Brands Beware: X's New Badge System Is a Ripe Cyber-Target (darkreading.com)

• What should you do if your Facebook is hacked? (pocket-lint.com)

Parental Controls and Child Safety

• New Report: Child Sexual Abuse Content and Online Risks to Children on the Rise (thehackernews.com)

Regulations, Fines and Legislation

• SEC Adopts New and Burdensome Cyber Cecurity Disclosure Rules | Kohrman Jackson & Krantz LLP - JDSupra

• SEC Investigating Progress Software Over MOVEit Hack - Security Week

Models, Frameworks and Standards

• Reassessing the Impacts of Risk Management With NIST Framework 2.0 (darkreading.com)

Data Protection

• Caesars Offers Two Years of IDX Services to Compromised Data Victims - GamblingNews

Careers, Working in Cyber and Information Security

• Work-related stress “keeps cyber professionals up at night” | ITPro

• Fifth of UK Cyber Security Pros Work Excessive Hours - Infosecurity Magazine (infosecurity-magazine.com)

• Cyber security is booming but it comes at a human cost (betanews.com)

• eBook: Cyber security career hacks for newcomers - Help Net Security

• Turning military veterans into cyber security experts - Help Net Security

• CISO Pay Increases Are Slowing – a Look Behind the Figures - Security Week

• Skills-based Hiring Can Address Cyber Workforce Shortfalls (fdd.org)

Law Enforcement Action and Take Downs

• European Police Hackathon Hunts Down Traffickers - Infosecurity Magazine (infosecurity-magazine.com)

Misinformation, Disinformation and Propaganda

• Elon Musk’s vision for free speech on X tested by Israel-Hamas war misinformation | Financial Times (ft.com)

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

Misc Nation State/Cyber Warfare

• Cyber Attacks Targeting Israel Are on the Rise After Hamas Attack | ITPro Today: IT News, How-Tos, Trends, Case Studies, Career Tips, More

• Hacking Groups, Including Some Tied to Russia, Are Attacking Israeli Websites (insurancejournal.com)

• Cyber Metamorphosis: Ukraine Conflict's Impact on the Threat Landscape (govinfosecurity.com)

• Hackers For Hire Hit Both Sides in Israel-Hamas Conflict (darkreading.com)

• Beyond the Front Lines: How the Israel-Hamas War Impacts the Cyber security Industry - Security Week

• Israel Cyber Attacks: What MSSPs Need to Know | MSSP Alert

• Hamas 'using social engineering attacks' in conflict with Israel (techmonitor.ai)

• The cyber phases of two wars show signs of intersecting. Developments in cyberespionage and cyber crime. (thecyberwire.com)

• Could Middle Eastern Cyberwarfare Spill Into Health Sector? (inforisktoday.com)

• The Cyberwar Between the East and the West Goes Through Africa (darkreading.com)

• Hamas 'using social engineering attacks' in conflict with Israel (techmonitor.ai)

Russia

• Dark Horse Ukraine Proves Resistant to Onslaught of Russian Cyber Attacks (kyivpost.com)

• Kremlin-Linked Hacker Group Launches Cyber-Attack Against Israel (kyivpost.com)

• Russian hacker group "Killnet" declares cyberwar on Israel | Al Bawaba

• Gaza-linked hackers and Pro-Russia groups are targeting Israel (securityaffairs.com)

• Hacking Groups, Including Some Tied to Russia, Are Attacking Israeli Websites (insurancejournal.com)

• Cyber Metamorphosis: Ukraine Conflict's Impact on the Threat Landscape (govinfosecurity.com)

China

• A Frontline Report of Chinese Threat Actor Tactics and Techniques (darkreading.com)

• Why One Of The Largest Cyber-Attacks Is Still A Mystery (slashgear.com)

• Chinese Hackers Target Semiconductor Firms in East Asia with Cobalt Strike (thehackernews.com)

• Chinese Criminals Backdoor Android Devices for Ad Fraud (govinfosecurity.com)

• China-based Supply Chain Cyber Attacks Hit Thousands of Android Devices | MSSP Alert

• Former US soldier accused of trying to pass secrets to China • The Register

• Researchers Uncover Grayling APT's Ongoing Attack Campaign Across Industries (thehackernews.com)

• Microsoft: China's Behind Atlassian Confluence Attacks; PoCs Available (darkreading.com)

• Researchers Uncover Ongoing Attacks Targeting Asian Governments and Telecom Giants (thehackernews.com)

Iran

• Escalation In Iranian Cyber Operations: A Shift Toward Espionage | Iran International (iranintl.com)

North Korea

• North Korea-linked Lazarus APT laundered over $900 million through cross-chain crime (securityaffairs.com)

• North Korea's State-Sponsored APTs Organise & Align (darkreading.com)

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Vulnerability Management

• Developers take as long as one month to patch security flaws, Synopsys finds (axios.com)

• Microsoft Patch Tuesday turns 20 • The Register

• Vulnerability Behind “Largest Attack in Internet History” Found | MSSP Alert

Vulnerabilities

• Microsoft Patch Tuesday updates for October 2023 fixed three actively exploited zero-day flaws (securityaffairs.com)

• Patch Now: Massive RCE Campaign Wrangles Routers Into Botnet (darkreading.com)

• Patch Tuesday: Code Execution Flaws in Adobe Commerce, Photoshop - Security Week

• Google Chrome 118 is a massive security update - gHacks Tech News

• Security Patch for Two New Flaws in Curl Library Arriving on October 11 (thehackernews.com)

• Adobe Acrobat Reader Vuln Now Under Attack (darkreading.com)

• Ransomware attacks now target unpatched WS_FTP servers (bleepingcomputer.com)

• Critical Zero-Day Bug in Atlassian Confluence Under Active Exploit (informationweek.com)

• WhatsApp exploits commanding multi-million prices (computing.co.uk)

• High-Severity Vulnerabilities Discovered in WebM Project’s Libraries (paloaltonetworks.com)

• Credential Harvesting Campaign Targets Unpatched NetScaler Instances - Security Week

• Over 17,000 WordPress sites hacked in Balada Injector attacks last month (bleepingcomputer.com)

• Thousands of WordPress sites have been hacked through tagDiv plugin vulnerability | Ars Technica

• New WordPress backdoor creates rogue admin to hijack websites (bleepingcomputer.com)

• libcue Library Flaw Opens GNOME Linux Systems Vulnerable to RCE Attacks (thehackernews.com)

• D-Link WiFi range extender vulnerable to command injection attacks (bleepingcomputer.com)

• Maintainers warn of vulnerability affecting foundational open-source tool (therecord.media)

• Apple releases iOS 16.7.1 to plug critical security holes | Macworld

• The SEC is said to be investigating a Twitter security flaw from the pre-Musk era (engadget.com)

• Microsoft: China's Behind Atlassian Confluence Attacks; PoCs Available (darkreading.com)

• 35 Squid proxy bugs still unpatched after 2 years • The Register

• Fortinet Releases Security Updates for Multiple Products | CISA

• High-Severity Flaws in ConnectedIO's 3G/4G Routers Raise Concerns for IoT Security (thehackernews.com)

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Tools and Controls

• Organisations grapple with detection and response despite rising security budgets | CSO Online

• Preparing for the Unexpected: A Proactive Approach to Operational Resilience (darkreading.com)

• A Primer on Cyber Risk Acceptance and What it Means to Your Business (bleepingcomputer.com)

• What is Risk Appetite? | Definition from TechTarget

• Reassessing the Impacts of Risk Management With NIST Framework 2.0 (darkreading.com)

• 16 Essential Factors To Cover In A Disaster Recovery Plan (forbes.com)

• A Cyber Security Risk Assessment Guide for Leaders (trendmicro.com)

• Addressing a Breach Starts With Getting Everyone on the Same Page (darkreading.com)

• Google, Yahoo Push DMARC, Forcing Companies to Catch Up (darkreading.com)

• You can't avoid APIs, so you need to secure them (betanews.com)

• What is External Attack Surface Management (EASM)? | UpGuard

• Why You Should Phish In Your Own (informationsecuritybuzz.com)

• Why zero trust delivers even more resilience than you think - Help Net Security

• Take an Offensive Approach to Password Security by Continuously Monitoring for Breached Passwords (thehackernews.com)

• Unmasking the limitations of yearly penetration tests - Help Net Security

• Keeping up with the demands of the cyber insurance market - Help Net Security

• Cyber attackers are combining attacks to bypass detection (siliconrepublic.com)

• Keep on keeping your organisation informed to stay cyber secure (techuk.org)

• Why identity infrastructure is the new cyberattack surface (siliconrepublic.com)

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Reports Published in the Last Week

• Global Incident Response Threat Report (vmware.com)

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Other News

• Cyber security is a mindset, not just a set of tools and technologies. (techuk.org)

• Large law firms experiencing two 'cyber incidents' a month - Legal Futures

• Small businesses growing target for cyber criminals (planetradio.co.uk)

• The world was already horrifying — technology is making it more so - The Hustle

• Legions of Critical Infrastructure Devices Subject to Cyber Targeting (darkreading.com)

• Subsea cable business seeks to plug its security holes (lightreading.com)

• Old-School Attacks Are Still a Danger, Despite Newer Techniques (darkreading.com)

• Protect Critical Infrastructure With Same Rigor as Classified Networks (darkreading.com)

• Drug dealers hijack NHS, police and Crimestoppers websites to sell coke in plain sight - Daily Star

• Proactive not reactive: adjusting the approach to cyber crime in education

• Magecart Campaign Hijacks 404 Pages to Steal Data (darkreading.com)

• As biohacking evolves, how vulnerable are we to cyber threats? - Help Net Security

• Social care and cyber-crime - Social care (blog.gov.uk)

• Electric Power System Cyber Security Vulnerabilities (trendmicro.com)

• Cable Giant Volex Targeted in Cyber Attack - Security Week

• Securing the Food Pipeline from Cyber Attacks (newswise.com)

• US construction giant reports cyber security incident • The Register

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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

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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 17 December 2021

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.

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Top Cyber Stories of the Last Week

Employees Think They’re Safe From Cyber Threats On Company Devices

A research launched by Menlo Security reveals increased cyber security risks posed to employees and organisations during the 2021 holiday shopping season.

The research – which surveyed 2,000 employed people in the United States and the United Kingdom – found that while employees are concerned about threats and are taking some measures to mitigate them, they often have false confidence in their security posture.

There are now more threats to corporate devices and networks than ever as hybrid work models blur the boundaries between work and home. More than half of respondents (56% US; 53% UK) reported performing non-work-related tasks – such as online shopping – on company devices.

Furthermore, the survey found that 65% of people in the US (63% UK) are doing more online holiday shopping in 2021 compared to previous years, and nearly half of respondents (48% US; 45% UK), reported shopping for gifts this holiday season on a work-issued device such as a laptop or mobile phone.

Workers are also noticing a rise in cyber threats this holiday season, with 58% of respondents in the US (48% UK) observing an increase in scams and fraudulent messages, exemplifying that threats are rampant worldwide. This is worrying many people, as the vast majority of respondents (80% US & UK) report being somewhat to very concerned about their personal data being stolen while online shopping.

However, despite workers’ recognition and concern of cyber threats, 60% of people (65% UK) still believe they’re secure from cyberthreats if they’re using a company device.

https://www.helpnetsecurity.com/2021/12/14/employees-cybersecurity-risks/

Internet Is Scrambling To Fix Log4shell, The Worst Hack In History

Massive data breaches have become so common that we’ve gotten numb to reports detailing another hack or 0-day exploit. That doesn’t reduce the risk of such events happening, as the cat-and-mouse game between security experts and hackers continues. As some vulnerabilities get fixed, others pop up requiring attention from product and service providers. The newest one has a name that will not mean anything to most people. They call the hack Log4Shell in security briefings, which doesn’t sound very scary. But the new 0-day attack is so significant that some people see it as the worst internet hack in history.

Malicious individuals are already exploiting the Log4Shell attack, which allows them to get into computer systems and servers without a password. Security experts have seen Log4Shell in action in Minecraft, the popular game that Microsoft owns. A few lines of text passed around in a chat might be enough to penetrate the defences of a target computer. The same ease of access would allow hackers to go after any computer out there using the Log4J open-sourced java-based logging utility.

https://bgr.com/tech/internet-is-scrambling-to-fix-log4shell-the-worst-hack-in-history/

Apache Log4j Flaw: A Fukushima Moment for the Cyber Security Industry

Organisations around the world will be dealing with the long-tail consequences of this vulnerability, known as Log4Shell, for years to come.

The discovery of a critical flaw in the Apache Log4j software is nothing short of a Fukushima moment for the cybersecurity industry.

Ten years ago, an earthquake and subsequent tidal wave triggered the meltdown of the Fukushima nuclear power plant that continues to plague the region today. Similarly, the early exploitation of Log4j, during which attackers will go after the low-hanging fruit exposed by the vulnerability, will evolve over time to take the form of more complex attacks on more sensitive systems that have less exposure to the internet. And, just as Fukushima brought to light significant issues with longstanding processes in place at the plant, so too does the Log4j vulnerability, known as Log4Shell, highlight two crucial practices of concern:

·       How organisations capture and protect their massive troves of log data; and

·       The use of open-source code libraries as the building blocks for major enterprise applications.

The paradox of Log4j: the more you log, the worse it gets

We’re discovering new apps every minute which use Log4j in one way or another. It affects not only the code you build, but also the third-party systems you have in place. Everything from the new printer you’ve bought for the office to the ticketing system you’ve just deployed is potentially affected by this flaw. Some affected systems may be on premises, others may be hosted in the cloud but no matter where they are, the flaw is likely to have an impact.

https://www.theregister.com/2021/12/17/vmware_criticial_uem_flaw/

60% of UK Workers Have Been Victim of a Cyber-Attack, Yet Awareness Remains Low

There is a “dangerous” lack of awareness among UK workers towards cybersecurity, leaving businesses at risk of attacks, according to a new study by Armis. This is despite 60% of workers admitting they have fallen victim to a cyber-attack.

The nationwide survey of 2000 UK employees found that only around a quarter (27%) are aware of the associated cyber risks, while one in 10 (11%) don’t worry about them at all.

Even more worryingly, just one in five people said they paid for online security, putting businesses at high risk of attacks amid the shift to remote working during COVID-19.

The most prevalent types of attacks experienced by workers or their organisations were phishing (27%), data breaches (23%) and malware (20%).

The study also revealed growing concerns about the scale of the cyber-threats facing the UK. A large-scale cyber-attack was ranked as the fourth biggest future concern (21%) among the respondents, equal to the UK going to war. Two-fifths (40%) said they would like to see a minister for cyber security installed to ensure the issue is focused on more at a government level.

Russian-backed cyber-criminals were considered the biggest threat to the UK’s cybersecurity (20%) by the respondents, followed by financially motivated cyber-criminals (17%) and Chinese-backed cyber-criminals (16%).

https://www.infosecurity-magazine.com/news/uk-workers-victim-cyber-attack/

Ransomware in 2022: We're All Screwed

Ransomware is now a primary threat for businesses, and with the past year or so considered the "golden era" for operators, cybersecurity experts believe this criminal enterprise will reach new heights in the future.

Kronos. Colonial Pipeline. JBS. Kaseya. These are only a handful of 2021's high-profile victims of threat groups including DarkSide, REvil, and BlackMatter.

According to Kela's analysis of dark web forum activity, the "perfect" prospective ransomware victim in the US will have a minimum annual revenue of $100 million and preferred access purchases include domain admin rights, as well as entry into Remote Desktop Protocol (RDP) and Virtual Private Network (VPN) services.

Over the past few years, we've seen ransomware operators evolve from disorganised splinter groups and individuals to highly sophisticated operations, with separate teams collaborating to target everything from SMBs to software supply chains.

Ransomware infection is no longer an end goal of a cyberattack. Instead, malware families in this arena -- including WannaCry, NotPetya, Ryuk, Cerber, and Cryptolocker -- can be one component of attacks designed to elicit a blackmail payment from a victim organisation.

https://www.zdnet.com/article/ransomware-in-2022-were-all-screwed/

Attacks on UK Firms Increase Five-Fold During Pandemic

Attacks on UK firms surged five-fold during the pandemic and now cost way more than the global average, according to Accenture.

The global consultancy polled 500 UK executives to compile its State of Cybersecurity Resilience 2021 study.

It found that large organisations experienced 885 attempted cyber-attacks in 2020 – up from 156 the previous year and more than triple the global average of 270.

They’re also more expensive than elsewhere. Accenture calculated that incidents and breaches cost over £1.3m a year – £350,000 more than the global average.

Over 80% of respondents said the cost of staying ahead of cyber-criminals is unsustainable, a fifth more than the previous year, and a quarter said they’ve been forced to increase cybersecurity budgets by 10% or more.

Worryingly, supply chain attacks accounted for 64% of breaches in the UK last year, up by a quarter (26%) from the previous year.

https://www.infosecurity-magazine.com/news/attacks-on-uk-firms-increase/

The Log4J Software Flaw Is ‘Christmas Come Early’ for Cyber Criminals

Researchers have just identified a security flaw in a software program called Log4J, widely used by a host of private, commercial and government entities to record details ranging from usernames and passwords to credit card transactions. Since the glitch was found last weekend, the cybersecurity community has been scrambling to protect applications, services, infrastructure and even Internet of Things devices from criminals—who are already taking advantage of the vulnerability.

“For cybercriminals this is Christmas come early, because the sky’s the limit,” says Theresa Payton, a former White House chief information officer and the CEO of Fortalice Solutions, a cybersecurity consulting company. “They’re really only limited by their imagination, their technical know-how and their own ability to exploit this flaw.” Payton spoke with Scientific American about what Log4J does, how criminals can use its newly discovered weakness, and what it will take to repair the problem.

https://www.scientificamerican.com/article/the-log4j-software-flaw-is-christmas-come-early-for-cybercriminals/

Why Cloud Storage Isn't Immune to Ransomware

Ransomware is the flavour of the month for cybercriminals. The FBI reports that ransomware attacks rose 20% and losses almost tripled in 2020. And our increased use of the cloud may have played a part in that spike. A survey of CISOs conducted by IDC earlier this year found that 98% of their companies suffered at least one cloud data breach in the previous 18 months as opposed to 79% last year, and numbers got worse the more exposure they had to the cloud.

Organisations now use hundreds of cloud-based apps, which adds thousands of new identities logging in to their systems. This opens almost unlimited possibilities for hackers. Even if cloud vendors have their own identity and access management controls, vulnerabilities will emerge. In fact, recent research into cloud security found that over 70% of organisations had machines open to the public that were linked to identities whose permissions were vulnerable, under the right conditions, to being exploited to launch ransomware attacks.

A number of reasons could explain why security falls through the cracks of many cloud systems, and leaves them more vulnerable to ransomware attacks.

https://www.darkreading.com/attacks-breaches/why-cloud-storage-isn-t-immune-to-ransomware

400 Banks’ Customers Targeted with Anubis Trojan

Customers of Chase, Wells Fargo, Bank of America and Capital One, along with nearly 400 other financial institutions, are being targeted by a malicious app disguised to look like the official account management platform for French telecom company Orange S.A.

Researchers say this is just the beginning.

Once downloaded, the malware – a variant of banking trojan Anubis – steals the user’s personal data to rip them off, researchers at Lookout warned in a new report. And it’s not just customers of big banks at risk, the researchers added: Virtual payment platforms and crypto wallets are also being targeted.

“As a banking trojan malware, Anubis’ goal is to collect significant data about the victim from their mobile device for financial gain,” the Lookout report said. “This is done by intercepting SMSs, keylogging, file exfiltration, screen monitoring, GPS data collection and abuse of the device’s accessibility services.”

https://threatpost.com/400-banks-targeted-anubis-trojan/177038/

Sites Hacked With Credit Card Stealers Undetected For Months

Threat actors are gearing up for the holidays with credit card skimming attacks remaining undetected for months as payment information is stolen from customers.

Magecart skimming is an attack that involves the injection of malicious JavaScript code on a target website, which runs when the visitor is at the checkout page.

The code can steal payment details such as credit card number, holder name, addresses, and CVV, and send them to the actor.

Threat actors may then use this information for purchasing goods online or sold to other actors on underground forums and dark web marketplaces known as "carding" sites.

https://www.bleepingcomputer.com/news/security/sites-hacked-with-credit-card-stealers-undetected-for-months/

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Threats

Ransomware

• Why Ransomware Attacks Happen Out Of Hours Or During The Holidays • The Register

• Conti Ransomware Gang Exploits Log4Shell Bug In Its Operations - Security Affairs

• Hackers Exploit Log4j Vulnerability to Infect Computers with Khonsari Ransomware (thehackernews.com)

• HR Management Firm Kronos Needs Weeks to Recover From Ransomware Attack | SecurityWeek.Com

• Ransomware Affiliate Arrested In Romania - The Record By Recorded Future

• Police Arrests Ransomware Affiliate Behind High-Profile Attacks (Bleepingcomputer.Com)

• All Change at the Top as New Ransomware Groups Emerge - Infosecurity Magazine

• Hive Ransomware Enters Big League With Hundreds Breached In Four Months (Bleepingcomputer.Com)

• Ransomware Suspect Arrested Over Attacks On 'High-Profile' Organisations | Zdnet

• The FBI Believes The HelloKitty Ransomware Gang Operates Out Of Ukraine - The Record By Recorded Future

BEC – Business Email Compromise

• Logistics Giant Warns of BEC Emails Following Ransomware Attack (bleepingcomputer.com)

Phishing

• How A Phishing Campaign Is Able To Exploit Microsoft Outlook - Techrepublic

• Phishing Campaign Uses PowerPoint Macros To Drop Agent Tesla (Bleepingcomputer.Com)

• New Microsoft Exchange Credential Stealing Malware Could Be Worse Than Phishing - TechRepublic

Other Social Engineering

• How to Guard Against Smishing Attacks on Your Phone | WIRED

Malware

• Hackers Start Pushing Malware In Worldwide Log4shell Attacks (Bleepingcomputer.Com)

• Hackers’ Log4Shell Malware Attacks Shuts Down Thousands of Government Websites | Tech Times

• Log4Shell Is Spawning Even Nastier Mutations | Threatpost

• Hackers Using Malicious IIS Server Module to Steal Microsoft Exchange Credentials (thehackernews.com)

• A Practical and Detailed Look at Cobalt Strike Threat Actors - MSSP Alert

• New Fileless Malware Uses Windows Registry as Storage to Evade Detection (thehackernews.com)

• ‘DarkWatchman’ RAT Shows Evolution in Fileless Malware | Threatpost

• New PseudoManuscrypt Malware Infected Over 35,000 Computers in 2021 (thehackernews.com)

Mobile

• China: Man Lifts Sleeping Ex's Eyelids, Unlocks Phone, Steals $24k (insider.com)

• Malicious Joker App Scores Half-Million Downloads on Google Play | Threatpost

• Apple Patches 42 Security Flaws in Latest iOS Refresh | SecurityWeek.Com

• How to Figure Out If Your Phone Has Malware | PCMag

• How to Guard Against Smishing Attacks on Your Phone | WIRED

IoT

• Modern Cars: A Growing Bundle Of Security Vulnerabilities - Help Net Security

• Are Your Home Security Cameras Vulnerable To Hacking? - cnet

Data Breaches/Leaks

• Personal Details Of 80,000 South Australian Public Servants Stolen In Cyber-Attack | South Australia | The Guardian

• Oregon Medical Group Notifies 750,000 Patients Of Data Breach | Zdnet

Organised Crime & Criminal Actors

• Karakurt: A New Emerging Data Theft and Cyber Extortion Hacking Group (thehackernews.com)

Cryptocurrency/Cryptomining/Cryptojacking

• Log4j Attackers Switch To Injecting Monero Miners Via RMI (bleepingcomputer.com)

• Hackers Are Using the Blockchain to Make Bulletproof Botnets (gizmodo.com)

• Botnet Steals Half A Million Dollars In Cryptocurrency From Victims - Techrepublic

• Hackers Steal $140 Million From Users of Crypto Gaming Company (vice.com)

Insider Risk and Insider Threats

Fraud & Financial Crime

• “Sadistic” Online Extortionist Jailed for 32 Years - Infosecurity Magazine

• Experts: Public Should Freeze Credit Post-Breach - Infosecurity Magazine

Nation State Actors

• Wary Of Chinese Tech Prowess, British MI6 Says China Bigger Threat To UK Than Russia, Iran & Global Terrorism (eurasiantimes.com)

• China, Iran Among Those Exploiting Apache Cyber Vulnerability, Researchers Say (Yahoo.Com)

• Documents Link Huawei To Uyghur Surveillance Projects, Report Claims | Huawei | The Guardian

• Huawei Documents Show Chinese Tech Giant’s Involvement In Surveillance Programs - The Washington Post

• Russian Cyberspy Groups Start Exploiting Log4Shell Vulnerability | SecurityWeek.Com

Cloud

• Convergence Ahoy: Get Ready for Cloud-Based Ransomware | Threatpost

Privacy

• Adtech Vendors Still Tracking EU Users Who Deny Consent Via IAB’s TCF, Study Suggests | TechCrunch

Spyware and Espionage

• iPhone Hack: NSO Malware Builds A Computer Inside Your Phone To Steal Data | New Scientist

• Meta Acts Against 7 Entities Found Spying on 50,000 Users (darkreading.com)

• A New Spyware-For-Hire, Predator, Caught Hacking Phones Of Politicians And Journalists | Techcrunch

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Vulnerabilities

• 4 Ways To Properly Mitigate The Log4j Vulnerabilities (And 4 To Skip) | CSO Online

• Hackers Begin Exploiting Second Log4j Vulnerability as a Third Flaw Emerges (thehackernews.com)

• New Local Attack Vector Expands the Attack Surface of Log4j Vulnerability (thehackernews.com)

• Patching Isn't Enough For December's Patch Tuesday | Computerworld

• Windows 10 Patch Tuesday (Kb5008212) Is Out — Here's What's New And What's Broken - Neowin

• Microsoft Issues Windows Update to Patch 0-Day Used to Spread Emotet Malware (thehackernews.com)

• Adobe Addresses Over 60 Vulnerabilities In Multiple Products - Security Affairs

• Hackers Launch More Than 1.2m Attacks Through Log4J Flaw | Financial Times (ft.com)

• Google Pushes Emergency Chrome Update To Fix Zero-Day Used In Attacks (Bleepingcomputer.Com)

• Over Log4j? VMware Has Another Critical Flaw For You To Fix - The Register

• CISA Urges VMware Admins To Patch Critical Flaw In Workspace ONE UEM (bleepingcomputer.com)

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Sector Specific

SMBs – Small and Medium Businesses

What the Log4Shell Bug Means for SMBs: Experts Weigh In | Threatpost

Security Priorities Are Geared Toward Ongoing Remote And Hybrid Work - Help Net Security

Transport and Aviation

Nation State Threat Group Targets Airline with Aclip Backdoor (securityintelligence.com)

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Other News

• Why Tech Companies Must Come Clean About The Latest Cyber Security Crisis | Fortune

• “Worst-Case Scenario” Exploit Travels the Globe - Infosecurity Magazine

• Log4j Hack Raises Serious Questions About Open-Source Software | Financial Times

• Why Log4j Mitigation Is Fraught With Challenges (darkreading.com)

• Security Flaws Found In A Popular Guest Wi-Fi System Used In Hundreds Of Hotels | TechCrunch

• Experts: Log4j Bug Could Be Exploited for “Years” - Infosecurity Magazine

• 2022: Supply-Chain Chronic Pain & SaaS Security Meltdowns | Threatpost

• Researchers Uncover New Coexistence Attacks On Wi-Fi and Bluetooth Chips (thehackernews.com)

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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.

Black Arrow Cyber Threat Briefing 16 July 2021

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.

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Top Cyber Stories of the Last Week

 84% Of Organisations Experienced Phishing Or Ransomware Attacks In The Last Year

A new report from Trend Micro has found that 84% of organisations have reported phishing or ransomware security incidents in the last 12 months.

The findings come from an Osterman Research study commissioned by Trend Micro that was compiled from interviews with cyber security professionals in midsize and large organisations nationwide. The research also found that half of organisations are not effective at countering phishing and ransomware threats.

https://www.itpro.co.uk/security/ransomware/360191/84-of-organizations-experienced-phishing-or-ransomware-attacks-in-last

Phishing continues to be one of the easiest paths for ransomware

Ransomware gangs are still using phishing as one of the main ways to attack an organisation, according to a new survey from Cloudian featuring the insights of 200 IT decision-makers who experienced a ransomware attack over the last two years.

More than half of all respondents have held anti-phishing training among employees, and 49% had perimeter defenses in place when they were attacked.

Nearly 25% of all survey respondents said their ransomware attacks started through phishing, and of those victims, 65% had conducted anti-phishing training sessions. For enterprises with fewer than 500 employees, 41% said their attacks started with phishing. About one-third of all victims said their public cloud was the entry point ransomware groups used to attack them.

https://www.zdnet.com/article/phishing-continues-to-be-one-of-the-easiest-paths-for-ransomware-report/

Ransomware: Only Half Of Organisations Can Effectively Defend Against Attacks, Warns Report

Around half of firms don't have the technology to prevent or detect ransomware attacks, according to research by cybersecurity company Trend Micro. It suggests that many organisations don't have the cybersecurity capabilities required to prevent ransomware attacks, such as the ability to detect phishing emails, remote desktop protocol (RDP) compromise or other common techniques deployed by cyber attackers during ransomware campaigns. 

For example, the report warns that many organisations struggle with detecting the suspicious activity associated with ransomware and attacks that could provide early evidence that cyber criminals have compromised the network. That includes failing to identify unusual lateral movement across corporate networks, or being able to spot unauthorised users gaining access to corporate data.

https://www.zdnet.com/article/ransomware-only-half-of-organisations-can-effectively-defend-against-attacks-warns-report/

MI5 Chief Warns Public Of Cyber-Threat From Hostile States Such As China & Russia

Head of Britain's MI5, Ken McCallum, is urging the public to be as vigilant about threats from "hostile states" as from terrorism.

These include disruptive cyber-attacks, misinformation, espionage and interference in politics - and are usually linked to Russia and China.

McCallum is warning that "less visible threats... have the potential to affect us all," affecting UK jobs and public services and could even lead to a loss of life.

The head of the Security Service wants to challenge the idea that activity by so-called "hostile states", usually taken to mean primarily Russia and China, only affects governments or certain institutions.

Instead, he is to argue in an annual threat update, that the British public are not immune to the "tentacles" of covert action by other states.

In the speech at MI5's Thames House headquarters, Mr McCallum will warn the "consequences range from frustration and inconvenience, through loss of livelihood, potentially up to loss of life".

https://eutoday.net/news/security-defence/2021/uk-mi5-chief-ken-mccallum-warns-public-of-cyber-threat-from-hostile-states-such-as-china-russia

Almost All Organisations Have Suffered Insider Data Breaches

Egress’ Insider Data Breach Survey 2021 claims that 94 percent of organisations have experienced insider data breaches in the last year. Human error was the top cause of serious incidents, according to 84 percent of IT leaders surveyed.

However, IT leaders are more concerned about malicious insiders, with 28 percent indicating that intentionally malicious behaviour is their biggest fear. Despite causing the most incidents, human error came bottom of the list, with just over one-fifth (21 percent) saying that it’s their biggest concern.

Additionally, almost three-quarters (74 percent) of organisations have been breached because of employees breaking security rules, and 73 percent have been the victim of phishing attacks.

The survey, independently conducted by Arlington Research on behalf of Egress, surveyed 500 IT leaders and 3,000 employees in the US and UK across vertical sectors including financial services, healthcare and legal.

https://workplaceinsight.net/almost-all-organisations-have-suffered-insider-data-breaches/

Cyber Crime Costs Organisations Nearly $1.79 Million Per Minute

Cybercrime costs organisations an incredible $1.79m every minute, according to RiskIQ’s 2021 Evil Internet Minute Report.

The study, which analysed the volume of malicious activity on the internet, laid bare the scale and damage of cyber-attacks in the past year, finding that 648 cyber-threats occurred every minute.

The researchers calculated that the average cost of a breach is $7.2 per minute, while the overall predicted cybersecurity spend is $280,060 every minute.

E-commerce has been heavily hit by online payment fraud in the past year, with cyber-criminals taking advantage of the shift to online shopping during the COVID-19 pandemic. While the e-commerce industry saw a record $861.1bn in sales, it lost $38,052 to online payment fraud every minute.

https://www.infosecurity-magazine.com/news/cybercrime-costs-orgs-per-minute/

Phishing, Ransomware Driving Wave of Data Breaches

Data compromises have increased every month this year except May.

If that trend continues, or even if there is only an average of 141 new compromises per month for the next six months, the total will still exceed the previous high of 1,632 breaches set in 2017.

These were among the findings of the nonprofit organization Identity Theft Resource Center’s (ITRC) latest data breach analysis report, which revealed publicly reported U.S. data breaches are up 38% in the second quarter of 2021, for a total of 491 compromises, compared to Q1.

https://securityboulevard.com/2021/07/phishing-ransomware-driving-wave-of-data-breaches/

Top CVEs Trending with Cybercriminals

An analysis of criminal forums reveal what publicly known vulnerabilities attackers are most interested in.

Criminal small talk in underground forums offer critical clues about which known Common Vulnerabilities and Exposures (CVEs) threat actors are most focused on. This, in turn, offers defenders clues on what to watch out for.

An analysis of such chatter, by Cognyte, examined 15 cybercrime forums between Jan. 2020 and March 2021. In its report, researchers highlight what CVEs are the most frequently mentioned and try to determine where attackers might strike next.

“Our findings revealed that there is no 100 percent correlation between the two parameters, since the top five CVEs that received the highest number of posts are not exactly the ones that were mentioned on the highest number of Dark Web forums examined,” the report said. “However, it is still enough to understand which CVEs were popular among threat actors on the Dark Web during the time examined.”

https://threatpost.com/top-cves-trending-with-cybercriminals/167889/

Sonicwall Releases Urgent Notice About 'Imminent' Ransomware Targeting Firmware

Networking device maker SonicWall sent out an urgent notice to its customers about "an imminent ransomware campaign using stolen credentials" that is targeting Secure Mobile Access (SMA) 100 series and Secure Remote Access (SRA) products running unpatched and end-of-life 8.x firmware.

In addition to the notice posted to its website, SonicWall sent an email to anyone using SMA and SRA devices, urging some to disconnect their devices immediately. They worked with Mandiant and other security companies on the issue, according to the release.

https://www.zdnet.com/article/sonicwall-releases-urgent-notice-about-imminent-ransomware-targeting-firmware/

Google Finds Zero-Day Security Flaws In All Your Favourite Browsers

Researchers at Google have shared insight into four zero-day security vulnerabilities in popular web browsers which were exploited in the wild earlier this year.

DIscovered by Google's Threat Analysis Group (TAG), the four vulnerabilities in Google Chrome, Internet Explorer, and WebKit, the browser engine used by Apple's Safari, were used as a part of three different campaigns.

https://www.techradar.com/news/google-finds-zero-day-security-flaws-in-all-your-favorite-browsers

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Threats

Ransomware

• Ransomware attackers are growing bolder and using new extortion methods

• REvil ransomware gang's websites vanish soon after Kaseya fiasco, Uncle Sam threatens retaliation

• What it's really like to negotiate with ransomware attackers

• Holding The World To Ransom: Top 5 Online Gangs

• Ransomware demands are digital extortion: don’t pay

• Ransomware recovery: Plan for it now

• Ransomware shows the power and weakness of the web

• This ransomware gang hunts for evidence of crime to pressure victims into paying a ransom

• HelloKitty ransomware now targets VMware ESXi servers

BEC

• Business email compromise (BEC) attacks take phishing to the next level

Phishing

• Kaseya warns of phishing campaign pushing fake security updates

• Phishing, Ransomware Driving Wave of Data Breaches

Other Social Engineering

• Social Engineering Tactics Behind Ransomware

• Propaganda as a Social Engineering Tool

Malware

• Trickbot Malware Rebounds with Virtual-Desktop Espionage Module

• Hackers Spread BIOPASS Malware via Chinese Online Gambling Sites

Mobile

• iOS zero-day let SolarWinds hackers compromise fully updated iPhones

Vulnerabilities

• Microsoft July 2021 Patch Tuesday: 117 vulnerabilities, Pwn2Own Exchange Server bug fixed

• SonicWall vulnerability allows attackers to obtain full control of device and underlying OS

• Microsoft's Emergency Patch Fails to Fully Fix PrintNightmare RCE Vulnerability

• So nice of China to put all of its network zero-day vulns in one giant database no one will think to break into

• Serious Security Vulnerability Hits DrayTek’s UK Fibre Routers

• Kaseya issues patch for on-premise customers, SaaS rollout underway

Data Breaches

• Morgan Stanley suffered data breach of customers after supply chain hack

• Fashion retailer Guess discloses data breach after ransomware attack

• Insurance giant CNA reports data breach after ransomware attack

Organised Crime & Criminal Actors

• SolarWinds 0-day gave Chinese hackers privileged access to customer servers

• Magecart hackers hide stolen credit card data into images and bogus CSS files

Cryptocurrency/Cryptojacking

• Does cyber crime impact crypto currency prices? Researchers find out

Insider Threats

• New Code42 Study Reveals Significant Impact of Insider Risk

Dark Web

• Feds: Dark web operator sought to sell inside information

Supply Chain

• UK food supply chain vulnerable to cyber-attack, expert warns

OT, ICS, IIoT and SCADA

• Vulnerability in Schneider Electric PLCs allows for undetectable remote takeover

• Unpatched Critical RCE Bug Allows Industrial, Utility Takeovers

Nation State Actors

• Fake Zoom App Dropped by New APT ‘Luminous Moth’

• These Iranian hackers posed as academics in a bid to steal email passwords

Privacy

• Threat actors scrape 600 million LinkedIn profiles and are selling the data online – again

User Education, Awareness and Training

• Without training one in three users fall for phishing scams 

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Other News

Kaseya's Staff Sounded the Alarm About Security Flaws for Years Before Ransomware Attack

Israeli Firm Helped Governments Target Journalists, Activists with 0-Days and Spyware

Endpoint Detection (alone) won’t protect your organisation from advanced hacking groups

Kaseya hack proves we need better cyber metrics

Instagram's Security Checkup will help users secure their accounts after a hack

79% of organisations identify threat modelling as a top priority in 2021

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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.