Black Arrow Cyber Threat Briefing 24 May 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

Human Error and AI Tops Cyber Threats as 70% of CISOs Worry About Risk

According to a survey of 1,600 CISOs, 70% worry about the risk of a material cyber attack over the next 12 months. Additionally, nearly 31% believe an attack is very likely, compared to 25% in 2023.  Amongst the largest concerns were human error, with 75% of CISOs identifying it as their most significant cyber vulnerability, up from 60% in 2023. Furthermore, 80% anticipate that human risk and employee negligence in particular will be major cyber security issues in the next two years.  Additionally, artificial intelligence was identified as an emerging concern for 54% of CISOs.

Sources: [The Register] [Infosecurity Magazine] [Cryptopolitan]

The State of Cyber Security: AI and Geopolitics Mean a Bigger Threat Than Ever

A recent report by Check Point reveals that global organisations faced an average of 1,158 weekly cyber attacks in 2023, an increase from 2022. In the UK, 50% of businesses experienced cyber attacks in the past year, with medium and large-sized businesses more affected at 70% and 74%, respectively. A ClubCISO survey found 62% of CISOs believe organisations are ill-equipped for AI-driven attacks, yet 77% haven't increased cyber security spending.

Additionally, a British Foreign Policy Group (BFPG) article highlights cyber threats from geopolitical tensions, with a recent attack on the Ministry of Defence exposing HR and payroll data. The National Cyber Security Centre attributes such attacks to state-affiliated actors like China and Russia. Despite efforts to establish international cyber norms, enforcement remains challenging. Businesses must recognise that cyber security is now deeply intertwined with geopolitics, affecting strategic partnerships and procurement.

Sources: [Verdict] [BFPG]

Threat Research Highlights Growing Mobile Security Risks

A recent report by a cloud security vendor focusing on the mobile threat landscape found that in the first quarter of 2024, the number of phishing, malicious, denylisted and offensive links delivered to their customers’ mobile devices tripled compared to Q1 2023. The report, which bases its data on 220 million devices, 325 million apps and billions of web items, found that the most common misconfiguration in mobiles was out of date operating systems (37%). When it came to the prevalence of attacks, 75% of organisations reported experiencing mobile phishing attempts targeting their employees.

This comes as a representative from the US Cybersecurity and Infrastructure Security Agency told the Federal Communications Commission earlier this year that there had been “numerous incidents of successful, unauthorised attempts” to steal location data, monitor voice and text messages, and deliver spyware.

Sources: [Economist] [Business Wire]

Family Offices Become Prime Targets for Cyber Hacks and Ransomware

A recent Dentons survey reveals that nearly 80% of family offices perceive a dramatic increase in cyber attack threats, with a quarter experiencing an attack in 2023, up from 17% in 2020. Despite their wealth, family offices often lack the staff and technology to manage these risks effectively. Less than a third report well-developed cyber risk management processes, and only 29% believe their cyber training programs are sufficient. This gap between awareness and action highlights the need for family offices to prioritise comprehensive cyber security measures, including better training, updated policies, and secure communication practices.

Source: [CNBC]

Ransomware Fallout: 94% Experience Downtime, 40% Face Work Stoppage

According to a report by cyber security provider Arctic Wolf, within the last 12 months 48% of organisations identified evidence of a successful breach within their environment and 70% of organisations were the targets of attempted Business Email Compromise (BEC) attacks, with 29% of these targets becoming victims of one or more successful BEC occurrences.

In its survey, the company says “45% of the organizations we spoke with admitted to being the victim of a ransomware attack within the last 12 months”,  an increase from the prior year. Of those impacted by ransomware, 86% of attacks including successful data exfiltration and 94% of those impacted by a ransom event experienced a significant downtime and delays. 40% of victims stated they experienced a period of total work stoppage due to ransomware.

Source: [Help Net Security]

Employee Discontent: Insider Threat No. 1

Chief Information Security Officers (CISOs) must integrate human factors into insider risk management (IRM), not just rely on detection technologies. IRM must consider factors such as those raised by recent research where only half of US workers are very satisfied with their jobs, and 28% feel their employers don't care about them. CISOs themselves are affected by job satisfaction; the 2024 IANS/Artico report shows three out of four CISOs are ready to leave their roles. DTEX Systems found 77% of malicious insiders concealed their activities, emphasising the importance of human engagement and feedback in mitigating risks.

Source: [CSO]

Report Reveals 341% Rise in Advanced Phishing Attacks

A recent report has revealed malicious emails increased by 341% over the past 6 months. This included a 217% increase in credential harvesting phishing attacks and a 29% increase in Business Email Compromise (BEC) attacks. The report highlighted the impact of artificial intelligence, noting that since the launch of ChatGPT in November 2022, there has been a 4,151% surge in malicious phishing messages.

Source: [Security Magazine] [ Infosecurity Magazine]

Ransomware and GenAI Raise Security Challenges, Driving Cyber Investment

A recent study by Infosecurity Europe reveals that nearly 40% of cyber security leaders are increasing investments to combat the growing threats of ransomware and AI-generated attacks. A separate survey found 94% of organisations have or plan to implement generative AI use policies, and a third strictly forbid AI tech in their environment. This data highlights the ongoing effort to balance AI benefits with security risks, indicating that there isn’t a one-size-fits-all strategy for formalising AI adoption and usage policies.

Source: [Security Boulevard] [Infosecurity Magazine]

New Rules Prompt 93% of Organisations to Rethink Cyber Security Plans

A recent report reveals that 93% of organisations have re-evaluated their cyber security strategies due to new regulations, with 58% reconsidering their entire approach. The survey, which included 500 cyber security decision-makers from the US and UK, found that 92% reported increased security budgets, with 36% seeing rises of 20-49% and 23% experiencing over 50% increases. Despite this, only 40% feel confident in their resources to comply with regulations, and just one-third believe they can meet all requirements, highlighting significant gaps in preparedness.

Source: [security magazine]

HR and IT Related Phishing Scams Still Most Popular According to KnowBe4’s Latest Phishing Report

A recent KnowBe4 report reveals that HR-related phishing emails account for 42% of top-clicked phishing attempts, followed by IT-related emails at 30%. These phishing tactics exploit employees' trust and evoke immediate responses by mimicking legitimate business communications about dress code changes, tax updates, and training notifications. The report also highlights that nearly a third of users are vulnerable to phishing, emphasising the need for robust security awareness training. A well-trained workforce is essential in defending against increasingly sophisticated phishing attacks that leverage AI and emotional manipulation.

Source: [IT Security Guru]

80% of Exposures from Misconfigurations, as 15 Vendors Account for 62% of Global Attack Surface

A recent XM Cyber report highlights a significant gap in cyber security focus with identity and credential misconfigurations accounting for 80% of security exposures. The study, based on hundreds of thousands of attack path assessments, found that 62% of the global attack surface is concentrated in just 15 vendors. Furthermore, 41% of organisations had at least one compromised device, and 11% experienced ransomware incidents. The report underscores the need for a shift from patching all vulnerabilities to addressing high-impact exposures, especially those around identity management and critical asset protection.

Sources: [Security Magazine] [The Hacker News]

UK to Propose Mandatory Reporting for Ransomware Attacks and Licensing Regime for all Payments

A forthcoming proposal in Britain aims to overhaul the response to ransomware by mandating victims to report incidents and obtain a license before making extortion payments. This initiative, part of a public consultation, includes a ban on ransom payments for critical national infrastructure to deter attacks. The National Cyber Security Centre has highlighted concerns over underreporting, with a 2023 increase in ransomware-related data breaches. The plan’s success hinges on replacing the delayed Action Fraud reporting platform. This proposal marks a significant step in global ransomware policy, with Britain leading international efforts against cyber criminals.

Source: [The Record Media]

UK’s Legal Sector Needs to Improve its Cyber Security, Says Experts

One in ten UK data breaches in 2023 occurred in the legal sector, highlighting that UK law firms are attractive targets for cyber criminals. A recent analysis of the UK’s Information Commissioner's Office (ICO) data found that the legal sector is one of the worst performing sectors for data breaches, with nearly 86 per cent of the incidents within the legal sector involving breaches of personal identifiable information, including instances also affecting sensitive economic and financial data.

Sources [CITY AM]

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Governance, Risk and Compliance

• 70% of CISOs Expect Cyber Attacks in Next Year, Report Finds - Infosecurity Magazine (infosecurity-magazine.com)

• UK's legal sector needs to improve its cyber security, say experts (cityam.com)

• How to stay on top of evolving cyber security legislation | RSM UK

• New rules prompt 93% of organisations to rethink cyber security plans | Security Magazine

• Ransomware and AI-Powered Hacks Drive Cyber Investment - Infosecurity Magazine (infosecurity-magazine.com)

• One CISO Can’t Fill Your Board’s Cyber Security Gaps (mit.edu)

• Security Compliance 101: What It Is and How to Master It - Security Boulevard

• Family offices become prime targets for cyber hacks and ransomware (cnbc.com)

• Worried about job security, cyber teams hide security incidents - Help Net Security

• Law firms warn global risks on the rise (emergingrisks.co.uk)

• Financial companies must have data breach incident plans, SEC says | SC Media (scmagazine.com)

• Businesses must overcome security communication roadblocks – Channel EYE

• Why Culture is the Bedrock of Cyber Security - Infosecurity Magazine (infosecurity-magazine.com)

• 10 Leadership Challenges For An AI World (forbes.com)

• IT Security Leaders Are Failing to Close a Boardroom Credibility Gap (prnewswire.com)

• Effective GRC programs rely on team collaboration - Help Net Security

• Are AI and Cyber Security the New Driving Forces Behind Mergers and Acquisitions in the Coming Years? - The Global Treasurerputty

• Understanding cyber risks beyond data breaches - Help Net Security

• De-risking the business - how to evolve your approach to security | TechRadar

• IT and security data is siloed in most organisations (betanews.com)

• Can Cyber Security Be a Unifying Factor in Digital Trade Negotiations? (darkreading.com)

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Threats

Ransomware, Extortion and Destructive Attacks

• Family offices become prime targets for cyber hacks and ransomware (cnbc.com)

• Ransomware fallout: 94% experience downtime, 40% face work stoppage - Help Net Security

• Ransomware Attacks Evolve as Average Ransom Demand Tops $1.26 Million - Security Boulevard

• UK to propose mandatory reporting for ransomware attacks and licensing regime for all payments (therecord.media)

• Ransomware gang targets Windows admins via PuTTy, WinSCP malvertising (bleepingcomputer.com)

• Cyber criminals shift tactics to pressure more victims into paying ransoms - Help Net Security

• Unpatched vulnerabilities making bad ransomware outcomes worse: What you need to know | SC Media (scmagazine.com)

• Cyber Attacks Over Work Email Most Used; Ransomware Hits Victims Hard: Artic Wolf (insurancejournal.com)

• This wiper malware takes data destruction to a whole new level | TechRadar

• A Surge in Ransomware: Insights from Our 2024 Cyber Threat Report | Huntress

• New ransomware group abusing BitLocker | Securelist

• Ransomware, BEC, GenAI Raise Security Challenges - Security Boulevard

• LockBit takedown taking toll as gang plummets down rankings • The Register

• First LockBit, now BreachForums: Are cops winning the war? • The Register

• 2024 sees continued increase in ransomware activity - Help Net Security

• Ransomware Attacks Exploit VMware ESXi Vulnerabilities in Alarming Pattern (thehackernews.com)

• What role does an initial access broker play in the RaaS model? | TechTarget

• Casino cyber attacks put a bullseye on Scattered Spider • The Register

• Ransomware innovation slowdown a product of crims' success • The Register

Ransomware Victims

• National Records of Scotland reveals its data stolen in 'distressing' NHS health board cyber attack (scotsman.com)

• OmniVision Says Personal Information Stolen in Ransomware Attack - Security Week

• Blackbasta group claims to have hacked Atlas, one of the largest US oil distributors (securityaffairs.com)

• LockBit says they stole data in London Drugs ransomware attack (bleepingcomputer.com)

Phishing & Email Based Attacks

• HR and IT related phishing scams still most popular according to KnowBe4’s latest Phishing Report - IT Security Guru

• Report Reveals 341% Rise in Advanced Phishing Attacks - Infosecurity Magazine (infosecurity-magazine.com)

• Grandoreiro Banking Trojan Resurfaces, Targeting Over 1,500 Banks Worldwide (thehackernews.com)

• Phishing statistics that will make you think twice before clicking - Help Net Security

• Cyber Attacks Over Work Email Most Used; Ransomware Hits Victims Hard: Artic Wolf (insurancejournal.com)

• Q1 2024 Global Phishing Report (knowbe4.com)

• Phishing, BEC, and Beyond: Tackling the Top Cyber Threats to UK Banks (prnewswire.co.uk)

• Two-stage Dropbox spear phishing | Kaspersky official blog

• Latrodectus Malware Loader Emerges as IcedID's Successor in Phishing Campaigns (thehackernews.com)

• Only 60 percent of brands can protect their customers from digital impersonation (betanews.com)

• A phish by any other name should still not be clicked – Computerworld

• Active Chinese Cyber espionage Campaign Rifling Email Servers (inforisktoday.com)

• YouTube has become a significant channel for cyber crime - Help Net Security

BEC

• The last six months shows a 341% increase in malicious emails | Security Magazine

• Phishing, BEC, and Beyond: Tackling the Top Cyber Threats to UK Banks (prnewswire.co.uk)

• Ransomware, BEC, GenAI Raise Security Challenges - Security Boulevard

• 10 Years in Prison for $4.5 million BEC Scammer Who Bought Ferrari to Launder Money | Tripwire

Other Social Engineering

• ‘Unblockable’ HMRC scam message on iPhones sparks warning (yahoo.com)

• Cyber criminals Exploit Cloud Storage For SMS Phishing Scams - Infosecurity Magazine (infosecurity-magazine.com)

Artificial Intelligence

• The state of cyber security: AI and geopolitics mean a bigger threat than ever - Verdict

• Three Questions Every Leader Needs To Ask About AI Cyber Security (forbes.com)

• Ransomware, BEC, GenAI Raise Security Challenges - Security Boulevard

• Beware – Your Customer Chatbot is Almost Certainly Insecure: Report - Security Week

• Human Error and AI Tops Cyber Security Threats in CISO Survey | Cryptopolitan

• Consumers continue to overestimate their ability to spot deepfakes - Help Net Security

• CIO’s 2024 Checklist: Generative AI, Digital Transformation And More (forbes.com)

• Are AI and Cyber Security the New Driving Forces Behind Mergers and Acquisitions in the Coming Years? - The Global Treasurer

• Deepfakes Rank As the Second Most Common Cyber Security Incident for US Businesses (darkreading.com)

• Data regulator looking into Microsoft’s AI Recall feature | The Independent

• New Microsoft Recall feature is a 'security nightmare' and could make Copilot+ PCs a top target for cyber criminals | ITPro

• Why We Need to Get a Handle on AI - Security Week

• CISOs pursuing AI readiness should start by updating the org’s email security policy - Help Net Security

• 10 Leadership Challenges For An AI World (forbes.com)

• US Intelligence Agencies’ Embrace of Generative AI Is at Once Wary and Urgent - Security Week

• User Outcry as Slack Scrapes Customer Data for AI Model Training - Security Week

• Balancing generative AI cyber security risks and rewards | TechTarget

• AI Is The Past, Present And Future Of Cyber Security (forbes.com)

• US AI Experts Targeted in SugarGh0st RAT Campaign (darkreading.com)

• The ‘dead internet theory’ makes eerie claims about an AI-run web. The truth is more sinister (theconversation.com)

• Transparency is sorely lacking amid growing AI interest | ZDNET

• UK Government in £8.5m Bid to Tackle AI Cyber Threats - Infosecurity Magazine (infosecurity-magazine.com)

2FA/MFA

• Microsoft to Mandate Multi-Factor Authentication for All Azure Users (cybersecuritynews.com)

• Here's why you should get a YubiKey (xda-developers.com)

• Zero-Day Attacks and Supply Chain Compromises Surge, MFA Remains Underutilized: Rapid7 Report - Security Week

Malware

• Grandoreiro Banking Trojan Resurfaces, Targeting Over 1,500 Banks Worldwide (thehackernews.com)

• Ukraine blackouts caused by malware attacks warn against evolving cyber security threats to the physical world (techxplore.com)

• 400K Linux Servers Recruited by Resurrected Ebury Botnet (darkreading.com)

• Another nasty Mac malware is spoofing legitimate software to target macOS users | TechRadar

• Foxit PDF Reader Flaw Exploited by Hackers to Deliver Diverse Malware Arsenal (thehackernews.com)

• What Does Malware Look Like? Check Out These Real-World Examples (pcmag.com)

• Cyber Criminals Exploit GitHub and FileZilla to Deliver Malware Cocktail (thehackernews.com)

• Dangerous nostalgia: Taking Windows XP online will result in auto-installed viruses in a matter of minutes | TechSpot

• Malware Delivery via Cloud Services Exploits Unicode Trick to Deceive Users (thehackernews.com)

• MS Exchange Server Flaws Exploited to Deploy Keylogger in Targeted Attacks (thehackernews.com)

• Keylogger Embedded Microsoft Exchange Server Steals Login Credentials (cybersecuritynews.com)

• Latrodectus Malware Loader Emerges as IcedID's Successor in Phishing Campaigns (thehackernews.com)

• Researchers spot cryptojacking attack that disables endpoint protections | Ars Technica

• US AI Experts Targeted in SugarGh0st RAT Campaign (darkreading.com)

• New BiBi Wiper version also destroys the disk partition table (bleepingcomputer.com)

• Novel EDR-Killing 'GhostEngine' Malware Is Built for Stealth (darkreading.com)

• Malicious actors are cat-phishing targets in order to spread malware | Security Magazine

Mobile

• It is dangerously easy to hack the world’s phones (economist.com)

• How often should you turn off your phone? Here's what the NSA says | PCWorld

• New Android Banking Trojan Mimics Google Play Update App - Infosecurity Magazine (infosecurity-magazine.com)

• North Korea-linked Kimsuky APT attack targets victims via Messenger (securityaffairs.com)

• US Official Warns a Cell Network Flaw Is Being Exploited for Spying | WIRED

• How to recognise if the security of your work device has been breached (siliconrepublic.com)

• Vultur Malware Mimic As Mobile Antivirus Steals Login Credentials (cybersecuritynews.com)

• ‘Unblockable’ HMRC scam message on iPhones sparks warning (yahoo.com)

• Lookout Threat Research Highlights Growing Mobile Security Risks | Business Wire

Internet of Things – IoT

• Teslas Can Still Be Stolen With a Cheap Radio Hack—Despite New Keyless Tech | WIRED

Data Breaches/Leaks

• Aon reveals cyber attack/data breach as top risk for financial institutions - Reinsurance News

• PSNI Faces £750,000 Data Breach Fine After Spreadsheet Leak - Infosecurity Magazine (infosecurity-magazine.com)

• NYSE parent fined $10M for breach reporting failure • The Register

• Were The Ashley Madison Hackers Ever Caught? (screenrant.com)

• 2.4 Million Impacted by WebTPA Data Breach - Security Week

• National Records of Scotland reveals its data stolen in 'distressing' NHS health board cyber attack (scotsman.com)

• 49 Million Customers Impacted by API Security Flaw - Security Boulevard

• Army personnel fear for their jobs after huge MoD cyber attack | The Independent

• Criminal record database of millions of Americans dumped online | Malwarebytes

• Optus denies claims of ‘cloaking’ Deloitte cyber attack report findings - Lawyers Weekly

• Record breaking number of data breaches reported | Bailiwick Express

• 400,000 Impacted by CentroMed Data Breach - Security Week

• 55,000 Impacted by Cyber Attack on California School Association  - Security Week

Organised Crime & Criminal Actors

• Were The Ashley Madison Hackers Ever Caught? (screenrant.com)

• HP Catches Cyber Criminals 'Cat-Phishing' Users (darkreading.com)

• Cyber crime on the rise as account takeovers become leading method (investmentnews.com)

• Moroccan cyber crime group impersonates nonprofits and abuses cloud services to rake in gift card cash | CyberScoop

• YouTube has become a significant channel for cyber crime - Help Net Security

• Ransomware innovation slowdown a product of crims' success • The Register

Cryptocurrency/Cryptomining/Cryptojacking/NFTs/Blockchain

• Kinsing Hacker Group Exploits More Flaws to Expand Botnet for Cryptojacking (thehackernews.com)

• Chinese Nationals Arrested for Laundering $73 Million in Pig Butchering Crypto Scam (thehackernews.com)

• Researchers spot cryptojacking attack that disables endpoint protections | Ars Technica

• Dutch police tracked a crypto theft to one of world’s worst botnets (thenextweb.com)

• He Trained Cops to Fight Crypto Crime—and Allegedly Ran a $100M Dark-Web Drug Market | WIRED

Insider Risk and Insider Threats

• Human Error and AI Tops Cyber Security Threats in CISO Survey | Cryptopolitan

• Employee discontent: Insider threat No. 1 | CSO Online

• Can we fix the human error problem in cyber security? (siliconrepublic.com)

Insurance

• Cyber insurance Company Offers MDR to MSPs | MSSP Alert

• Should You Buy Cyber Insurance in 2024? Pros & Cons (techopedia.com)

• Cyber insurance trends: reshaping the industry - SiliconANGLE

Supply Chain and Third Parties

• Implementing Third-Party Risk Management Workflows | UpGuard

• Managing third-party risk with cyber security | RSM UK

• Zero-Day Attacks and Supply Chain Compromises Surge, MFA Remains Underutilized: Rapid7 Report - Security Week

• JAVS courtroom recording software backdoored in supply chain attack (bleepingcomputer.com)

Cloud/SaaS

• Critical Bug Allows DoS, RCE, Data Leaks in All Major Cloud Platforms (darkreading.com)

• Veeam 2024 Cloud Protection Trends Report Provides New Insight into Cloud‑Powered Data Protection Strategies | Business Wire

• Security concerns impeding cloud migration | SC Media (scmagazine.com)

• Malware Delivery via Cloud Services Exploits Unicode Trick to Deceive Users (thehackernews.com)

• Are Your SaaS Backups as Secure as Your Production Data? (thehackernews.com)

• Cyber Criminals Exploit Cloud Storage For SMS Phishing Scams - Infosecurity Magazine (infosecurity-magazine.com)

Identity and Access Management

• Report: Organisations Are Scrambling to Overhaul Their Identity Security Frameworks Amidst Surge in Recent Attacks (globenewswire.com)

• 77 percent of organisations suffer cyber attacks due to identity issues (betanews.com)

Encryption

• Yet more ransomware uses BitLocker to encrypt victims' files • The Register

Linux and Open Source

• The economic model that made the internet, and the hack that almost broke it : Planet Money : NPR

• 400K Linux Servers Recruited by Resurrected Ebury Botnet (darkreading.com)

• Are all Linux vendor kernels insecure? A new study says yes, but there's a fix | ZDNET

Passwords, Credential Stuffing & Brute Force Attacks

• Cyber crime on the rise as account takeovers become leading method (investmentnews.com)

Social Media

• YouTube has become a significant channel for cyber crime - Help Net Security

• How Secure Is The Metaverse? (A Look At Cyber Threats And Defences) (forbes.com)

• Russia’s DoppelGänger Campaign Manipulates Social Media - Infosecurity Magazine (infosecurity-magazine.com)

Malvertising

• Ransomware gang targets Windows admins via PuTTy, WinSCP malvertising (bleepingcomputer.com)

• The mystery of the targeted ad and the library patron • The Register

• Windows admins targeted with clever malvertising scam | TechRadar

Training, Education and Awareness

• Three Psychological Theories to Ensure Cyber Security Training Sticks - Infosecurity Magazine (infosecurity-magazine.com)

Regulations, Fines and Legislation

• PSNI Faces £750,000 Data Breach Fine After Spreadsheet Leak - Infosecurity Magazine (infosecurity-magazine.com)

• NYSE parent fined $10M for breach reporting failure • The Register

• Intercontinental Exchange Will Pay $10 Million to Resolve SEC Cyber Probe (wsj.com)

• UK considering mandatory reporting for ransomware attacks (computing.co.uk)

• How to stay on top of evolving cyber security legislation | RSM UK

• SEC requires financial institutions to notify customers of breaches within 30 days - Help Net Security

• Security Compliance 101: What It Is and How to Master It - Security Boulevard

• Singapore updates cyber security law to expand regulatory oversight | ZDNET

• Avoiding Cyber Security Incident Overdisclosure:  Helpful Guidance | Mayer Brown Free Writings + Perspectives - JDSupra

• Counting Down to the EU NIS2 Directive - Security Boulevard

• The Dawn of DORA: Building a Resilient Financial Infrastructure (finextra.com)

• What American Enterprises Can Learn From Europe's GDPR Mistakes (darkreading.com)

• Preparing Your Organisation for Upcoming Cyber Security Deadlines (darkreading.com)

Backup and Recovery

• Are Your SaaS Backups as Secure as Your Production Data? (thehackernews.com)

Data Protection

• 87% of medical practice data is digital | Security Magazine

Careers, Working in Cyber and Information Security

• The IT skills shortage situation is not expected to get any better - Help Net Security

• UK Government ramps up efforts to bridge cyber security skills gap (holyrood.com)

• IT Essentials: Sun, stress and security (computing.co.uk)

• Persistent Burnout Is Still a Crisis in Cyber Security (darkreading.com)

• 5 Ways SMBs Can Bridge the Cyber Security Skills Gap | Mimecast

Law Enforcement Action and Take Downs

• Dutch police tracked a crypto theft to one of world’s worst botnets (thenextweb.com)

• Chinese Nationals Arrested for Laundering $73 Million in Pig Butchering Crypto Scam (thehackernews.com)

• Police caught circumventing city bans on face recognition • The Register

• 10 Years in Prison for $4.5 million BEC Scammer Who Bought Ferrari to Launder Money | Tripwire

• LockBit takedown taking toll as gang plummets down rankings • The Register

• He Trained Cops to Fight Crypto Crime—and Allegedly Ran a $100M Dark-Web Drug Market | WIRED

• Casino cyber attacks put a bullseye on Scattered Spider • The Register

• First LockBit, now BreachForums: Are cops winning the war? • The Register

• No time to take eye of the ball despite recent cyber success – report (emergingrisks.co.uk)

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

Cyber Warfare and Cyber Espionage

• World War War III May Already Have Started—in the Shadows (reason.com)

• Britons should have three days' worth of tinned food and water, government says | Politics News | Sky News

• The Balance of Power in Cyber Space – What it Means for UK Business - British Foreign Policy Group (bfpg.co.uk)

• The state of cyber security: AI and geopolitics mean a bigger threat than ever - Verdict

Nation State Actors

China

• The Security Interviews: What is the real cyber threat from China? | Computer Weekly

• UK not heeding warning over China threat, says ex-cyber security chief (yahoo.com)

• Newly Detected Chinese Group Targeting Military, Government Entities - Security Week

• Escalating Chinese cyber threats drive US efforts to secure critical infrastructure | SC Media (scmagazine.com)

• Inside Operation Diplomatic Specter: Chinese APT Group's Stealthy Tactics Exposed (thehackernews.com)

• Spies, trade and tech: China’s relationship with Britain (economist.com)

• Chinese, Iranian, and Russian gangs are attacking the U.S's drinking water and officials are alarmed | Fortune

• Google, Meta warned that undersea internet cables at risk for Chinese espionage: report (nypost.com)

• UK military in data breach - and other cyber security news | World Economic Forum (weforum.org)

• Researchers Warn of Chinese-Aligned Hackers Targeting South China Sea Countries (thehackernews.com)

• Active Chinese Cyberespionage Campaign Rifling Email Servers (inforisktoday.com)

• State hackers turn to massive ORB proxy networks to evade detection (bleepingcomputer.com)

• New Frontiers, Old Tactics: Chinese Espionage Group Targets Africa & Caribbean Govts (thehackernews.com)

• Stronger critical infrastructure defence aimed by Army Cyber Command | SC Media (scmagazine.com)

• Chinese Nationals Arrested for Laundering $73 Million in Pig Butchering Crypto Scam (thehackernews.com)

• Former Royal Marine charged with spying for China found dead (thetimes.co.uk)

Russia

• Ukraine blackouts caused by malware attacks warn against evolving cyber security threats to the physical world (techxplore.com)

• Chinese, Iranian, and Russian gangs are attacking the U.S's drinking water and officials are alarmed | Fortune

• Russia’s DoppelGänger Campaign Manipulates Social Media - Infosecurity Magazine (infosecurity-magazine.com)

• US says Russia likely launched space weapon - BBC News

• New Star Wars Plan: Pentagon Rushes to Counter Threats in Orbit - The New York Times

• British man, 64, charged with assisting Russian intelligence service | The Independent

Iran

• Chinese, Iranian, and Russian gangs are attacking the U.S's drinking water and officials are alarmed | Fortune

• Iranian MOIS-Linked Hackers Behind Destructive Attacks on Albania and Israel (thehackernews.com)

North Korea

• North Korea-linked Kimsuky APT attack targets victims via Messenger (securityaffairs.com)

• US Official Warns a Cell Network Flaw Is Being Exploited for Spying | WIRED

• North Korea-linked IT workers infiltrated hundreds of US firms (securityaffairs.com)

• High-ranking military officials' e-mail hacked, possibly by N. Korea (koreaherald.com)

Other Nation State Actors, Hacktivism, Extremism, Terrorism and Other Geopolitical Threat Intelligence

• The state of cyber security: AI and geopolitics mean a bigger threat than ever - Verdict

• Government tells Britons to stockpile as part of emergency planning

• Spyware found on US hotel check-in computers | TechCrunch

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Vulnerability Management

• New XM Cyber Research: 80% of Exposures from Misconfigurations, Less Than 1% from CVEs (thehackernews.com)

• Unpatched vulnerabilities making bad ransomware outcomes worse: What you need to know | SC Media (scmagazine.com)

• Over 60% of Network Security Appliance Flaws Exploited as Zero Days - Infosecurity Magazine (infosecurity-magazine.com)

• 93% of vulnerabilities unanalysed by NVD since February | TechTarget

• Zero-Day Attacks and Supply Chain Compromises Surge, MFA Remains Underutilized: Rapid7 Report - Security Week

• How AI-driven patching could transform cyber security | TechTarget

Vulnerabilities

• Microsoft Edge gets fixes for five more security vulnerabilities - Neowin

• Over 60% of Network Security Appliance Flaws Exploited as Zero Days - Infosecurity Magazine (infosecurity-magazine.com)

• Critical Bug Allows DoS, RCE, Data Leaks in All Major Cloud Platforms (darkreading.com)

• Veeam warns of critical Backup Enterprise Manager auth bypass bug (bleepingcomputer.com)

• Microsoft Has Yet to Patch 7 Pwn2Own Zero-Days (darkreading.com)

• Critical Flaw in AI Python Package Can Lead to System and Data Compromise - Security Week

• This devious Wi-Fi security flaw could let hackers eavesdrop on your network with ease | TechRadar

• Foxit PDF Reader Flaw Exploited by Hackers to Deliver Diverse Malware Arsenal (thehackernews.com)

• Intel's Max Severity Flaw Affects AI Model Compressor Users (govinfosecurity.com)

• 15 QNAP NAS bugs and one PoC disclosed, update ASAP! (CVE-2024-27130) - Help Net Security

• Keylogger Embedded Microsoft Exchange Server Steals Login Credentials (cybersecuritynews.com)

• Chrome 125 Update Patches High-Severity Vulnerabilities - Security Week

• Ivanti Patches Critical Code Execution Vulnerabilities in Endpoint Manager - Security Week

• Unauthenticated RCE Vulnerability in Fortinet FortiSIEM: PoC Published (cybersecuritynews.com)

• Ransomware Attacks Exploit VMware ESXi Vulnerabilities in Alarming Pattern (thehackernews.com)

• VMware Abused in Recent MITRE Hack for Persistence, Evasion - Security Week

• High-severity GitLab flaw lets attackers take over accounts (bleepingcomputer.com)

• CISA Warns of Actively Exploited Apache Flink Security Vulnerability (thehackernews.com)

Tools and Controls

• Network Outages Hit 59% of Multi-Site Businesses Monthly - Infosecurity Magazine (infosecurity-magazine.com)

• New rules prompt 93% of organisations to rethink cyber security plans | Security Magazine

• Ransomware and AI-Powered Hacks Drive Cyber Investment - Infosecurity Magazine (infosecurity-magazine.com)

• Microsoft to Mandate Multi-Factor Authentication for All Azure Users (cybersecuritynews.com)

• What is a Third-Party Risk Assessment in Cyber Security? | UpGuard

• Should You Buy Cyber Insurance in 2024? Pros & Cons (techopedia.com)

• The Critical Role Of Web Filtering To Secure A Modern Workplace (forbes.com)

• We put too much faith in our web browsers, here's why we shouldn't (xda-developers.com)

• Windows 11 to Deprecate NTLM, Add AI-Powered App Controls and Security Defences (thehackernews.com)

• Google says Microsoft can’t be trusted after email security blunders | ITPro

• CISOs pursuing AI readiness should start by updating the org’s email security policy - Help Net Security

• Fighting identity fraud? Here's why we need better tech - Help Net Security

• Report: Organisations Are Scrambling to Overhaul Their Identity Security Frameworks Amidst Surge in Recent Attacks (globenewswire.com)

• 77 percent of organisations suffer cyber attacks due to identity issues (betanews.com)

• Researchers spot cryptojacking attack that disables endpoint protections | Ars Technica

• Microsoft's latest Windows 11 security features aim to make it 'more secure out of the box' | ZDNET

• Are Your SaaS Backups as Secure as Your Production Data? (thehackernews.com)

• Cyber insurance trends: reshaping the industry - SiliconANGLE

• The Evolution of Security Operations Centres in the Past Decade | Information Security Buzz

• Incident response: a useful guide - Tech Monitor

• Here's why you should get a YubiKey (xda-developers.com)

• Mastercard Doubles Speed of Fraud Detection with Generative AI - Infosecurity Magazine (infosecurity-magazine.com)

• When to Automate and When Not to Automate Security - Security Boulevard

• Critical Capabilities of Cyber Security Risk Assessment Tools (cybersaint.io)

• How AI-driven patching could transform cyber security | TechTarget

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Reports Published in the Last Week

• 2024 Cloud Protection Trends (veeam.com)

• Arctic Wolf Labs 2024 Threat Report | Arctic Wolf

• Q1 2024 Global Phishing Report (knowbe4.com)

• 2024 Cyber Threat Report | Huntress

• 2024 Q1 Mobile Landscape Threat Report (lookout.com)

• State of Cyber Security Trends Report 2024 | Ivanti

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Other News

• Aon reveals cyber attack/data breach as top risk for financial institutions - Reinsurance News

• 15 companies account for 62% of global attack surface | Security Magazine

• Google Deletes $125 Billion UniSuper Pension Fund Account; Impacts Over Half a Million Australians - Goodreturns

• Cyber attacks are soaring—treat them as an 'act of war', health care exec warns | Fortune Well

• If the Lights Went Out: Exploring a Power Grid Failure (greydynamics.com)

• Wars in Ukraine and Gaza raise UK infrastructure cyber threat level | New Civil Engineer

• Malware power threat real and growing – researchers (emergingrisks.co.uk)

• Microsoft’s President to Testify to House Panel on Cyber Security (bloomberglaw.com)

• Microsoft outage affects Bing, Copilot, DuckDuckGo and ChatGPT internet search (bleepingcomputer.com)

• 5 Ways SMBs Can Bridge the Cyber Security Skills Gap | Mimecast

• Why cyber security is front and centre for rail - Railway Technology (railway-technology.com)

• Mitigating cyber security risks in the technology sector | TechRadar

• New EU tool to counter hybrid threats - Ministry of Foreign Affairs Republic of Poland - Gov.pl website (www.gov.pl)

• Cyber attacks on construction firms jump, new report finds | News | Building

• FUD: How Fear, Uncertainty, and Doubt can ruin your security program - Security Boulevard

• Cyber Security in the legal sector | Law Gazette

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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 12 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

UK Cyber Breaches Survey Finds Business Falling Short on Cyber, as Half Suffer Breach and Many Fail to Report

Half of UK businesses experienced a cyber breach last year, according to a survey by the UK Government. The figure could be much higher however, as the survey found only 34% report breaches externally.

It is said that a cyber incident is a matter of when, not if. Nonetheless, 78% of organisations lack a dedicated response plan outlining actions to be taken in the event of a cyber incident and only 11% review their immediate suppliers for risks. To improve cyber resilience, there needs to be a paradigm shift.

Sources: [Computer Weekly] [Computing] [Infosecurity Magazine] [Info Risk Today]

Cyber Attacks Cost Financial Firms $12bn Says IMF

A recent International Monetary Fund (IMF) report has highlighted significant financial losses in the financial services sector, totalling $12 billion over the last two decades due to cyber attacks, with losses accelerating post-pandemic. The number of incidents and the scale of extreme losses have sharply increased, prompting the IMF to urge enhanced cross-border cooperation to uphold the stability of the global financial system.

The report underscores the critical threat that cyber attacks pose to financial stability, particularly for banks in advanced economies which are more exposed to such risks. With major institutions like JP Morgan facing up to 45 billion cyber threats daily, the IMF emphasises the need for international collaboration to effectively manage and mitigate these risks.

Source: [Finextra]

The Cyber Attack Stopped by a Microsoft Engineer Was Scarier Than We Realise

A critical security breach was narrowly avoided when a Microsoft developer detected suspicious activity in XZ Utils, an open-source library crucial to internet infrastructure. This discovery revealed that a new developer had implanted a sophisticated backdoor in the software, potentially giving unauthorised access to millions of servers worldwide. This incident has intensified scrutiny on the vulnerabilities of open-source software, which is largely maintained by unpaid or underfunded volunteers and serves as a backbone for the internet economy. The situation has prompted discussions among government officials and cyber security experts about enhancing the protection of open-source environments. This close call, described by some as a moment of "unreasonable luck," underscores the pressing need for sustainable support and rigorous security measures in the open-source community.

Source: [Inc.com]

UK Government Urged to Get on ‘Front Foot’ with Ransomware Instead of ‘Absorbing the Punches’

Amidst a rising tide of ransomware attacks affecting wide range of UK services, officials in Westminster are being pressured to enhance funding for operations aimed at disrupting ransomware gangs. The current strategy focuses on bolstering organisational cyber security and recovery preparedness, a stance under the second pillar of the UK's National Cyber Strategy known as resilience. However, this approach has not curbed the frequency of incidents, which have steadily increased over the past five years, impacting sectors including the NHS and local governments. In contrast to the proactive disruption efforts seen in the US, the UK has yet to allocate new funds for such measures, despite successful disruptions like the recent takedown of the LockBit gang by the US National Crime Agency, which underscored the potential benefits of increased resources for cyber crime disruption.

Source: [The Record Media]

74% of Employees Falling Victim to Phishing Attacks Hit with Disciplinary Actions

The Egress 'Email Threat Landscape 2024' report reveals a surge in phishing attacks, with 94% of companies falling victim to this type of crime in this past year alone, leading to increasingly complex cyber security challenges. According to the report, 96% of these companies suffered significant repercussions, including operational disruption and data breaches, with common attack vectors being malicious URLs, and malware or ransomware attachments.

The human cost is also notable, with 74 per cent of employees involved in attacks having faced disciplinary actions, dismissals, or voluntary departures, underscoring the severity of the issue and the heightened vigilance among companies in addressing the phishing threat. Financial losses primarily stem from customer churn, which accounts for nearly half of the total impact. Amidst rising attacks through compromised third-party accounts, Egress advocates for stronger monitoring and defence strategies to protect critical data and reduce organisational and individual hardships.

Source: [The Fintech Times]

Why Are Many Businesses Turning to Third-Party Security Partners?

In 2023, 71% of organisations reported being impacted by a cyber security skills shortage, leading many to scale back their cyber security initiatives amid escalating threats. To bridge the gap, businesses are increasingly turning to third-party security partnerships, reflecting a shift towards outsourcing crucial cyber security operations to handle complex challenges more efficiently. This approach is driven by the need to fill technical and resource gaps in the face of a severe workforce shortfall, with an estimated 600,000 unfilled security positions in the US alone. Moreover, these strategic partnerships allow organisations to leverage external expertise for scalable and effective security solutions, alleviating the burden of staying updated with the rapidly evolving threat landscape.

Source: [Help Net Security]

74% of Businesses with up to 500 Employees are Concerned About Cyber Security as Attacks Rise

According to a recent poll by the US Chamber of Commerce, 60% of small businesses expressed concerns about threats, with 58% concerned about a supply chain breakdown. The highest concern came from businesses with 20-500 employees (74%). Despite such concern, only 49% had trained staff on cyber security. When it came to the impact of a cyber event, 27% of respondents say they are one disaster or threat away from shutting down their business.

Sources: [Malwcv arebytes][Marketplace] [US Chamber]

LastPass: Hackers Targeted Employee in Failed Deepfake CEO Call

LastPass recently reported a thwarted voice phishing attack targeting one of its employees using deepfake audio technology to impersonate CEO Karim Toubba. The attack, conducted via WhatsApp, was identified by the employee as suspicious due to the unusual communication channel and clear signs of social engineering, such as forced urgency. Despite the failure of this particular attempt, LastPass has shared the incident publicly to highlight the growing use of AI-generated deepfakes in executive impersonation schemes. This incident underscores a broader trend, as indicated by alerts from both the US Department of Health and Human Services and the FBI, pointing to an increase in sophisticated cyber attacks employing deepfake technology for fraud, social engineering, and potential influence operations.

Source: [Bleepingcomputer]

Most Cyber Criminal Threats are Concentrated in Just a Few Countries

Oxford researchers have developed the world's first cyber crime index to identify global hotspots of cyber criminal activity, ranking countries based on the prevalence and sophistication of cyber threats. The index reveals that a significant portion of cyber threats is concentrated in a few countries, with Russia and Ukraine positioned at the top, with the USA and the UK also ranking prominently. The results indicate that countries like China, Russia, Ukraine, the US, Romania, and Nigeria are among the top hubs for activities ranging from technical services to money laundering. This tool aims to refine the focus for cyber crime research and prevention efforts, although the study acknowledges the need for a broader and more representative sample of expert opinions to enhance the accuracy and applicability of the findings. The index underscores that while cyber crime may appear globally fluid, it has pronounced local concentrations.

Sources: [ThisisOxfordshire] [Phys Org]

Why Incident Response is the Best Cyber Security ROI

The Microsoft Incident Response Reference Guide predicts that most organisations will encounter one or more major security incidents where attackers gain administrative control over crucial IT systems and data. While complete prevention of cyber attacks may not be feasible, prompt and effective incident response is essential to mitigate damage and protect reputations. However, many organisations may not be adequately budgeting for incident response, and the recent UK Government report found that 78% of organisations do not have formalised incident response plans, risking prolonged recovery and increased costs. Cyber crime damages hit $23b in 2023, but the true costs of incidents includes non-financial damage such as reputational harm. If a cyber incident is a matter of when, not if, then a prepared incident response plan is the best cyber security ROI.

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: [CSO Online]

Ransomware Attacks are the Canaries in the Cyber Coal Mine

A recent report has found that ransomware attacks were up 110% compared to the prior month, stating that unreported attacks were up to 6 times higher. The report found that tactics are increasingly using data extortion, with 92% of attacks utilising this method.

Sources: [Silicon Republic] [The Hill]

Cyber Security is Crucial, but What is Risk and How do You Assess it?

Cyber security is an increasingly sophisticated game of cat and mouse, where the landscape is constantly shifting. Your cyber risk is the probability of negative impacts stemming from a cyber incident, but how do you assess risk?

One thing to understand is that there are a multitude of risks: risks from phishing, risks from insiders, risks from network attacks, risks of supply chain compromise, and of course, nation states. To understand risk, an organisation must first identify the information that it needs to protect, to avoid only learning of the information asset’s existence from a successful attacker. Once all assets are identified, then organisations should conduct risk assessments to identify threats and an evaluation the potential damage that can be done.

Sources: [Security Boulevard] [International Banker]

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Governance, Risk and Compliance

• Cyber attacks cost financial firms $12bn says IMF (finextra.com)

• UK business falling short on cybersecurity warns government report (computing.co.uk)

• Half of UK Businesses Hit by Cyber Incident in Past Year - Infosecurity Magazine (infosecurity-magazine.com)

• 60% of small businesses are concerned about cyber security threats | Malwarebytes

• Cyber attacks on small businesses are on the rise - Marketplace

• What is cyber security risk & how to assess - Security Boulevard

• Cyber Security Regulations Aren’t Static—Your Practices Can’t Be Either (forbes.com)

• Why Cyber Security Is More Crucial Today Than Ever Before (internationalbanker.com)

• Large cyber attack could cause 'cyber run' or market sell-offs, warns IMF - FStech Financial Sector Technology

• Why are many businesses turning to third-party security partners? - Help Net Security

• CISO Perspectives on Complying with Cyber Security Regulations (thehackernews.com)

• Why incident response is the best cyber security ROI | CSO Online

• Why Intelligence Sharing Is Vital to Building a Robust Collective Cyber Defence Program -  Security Week

• Privacy Versus Cyber – What is the Bigger Risk? | Jackson Lewis P.C. - JDSupra

• Large businesses struggle to tackle cyber threats (betanews.com)

• Resilience And Antifragility Are The Best Strategies For 2024 (forbes.com)

• The state of secrets security: 7 action items for better managing risk - Security Boulevard

• Board Oversight and Cyber Breach Response: What Involvement Strikes the Right Balance? | Alston & Bird - JDSupra

• Compliance & Cyber Security – Working and Worrying Together About the Intersection of People and Technology | NAVEX - JDSupra

• Former Uber CSO Joe Sullivan and lessons learned from the infamous 2016 Uber breach | CSO Online

• Why cyberpsychology is such an important part of effective cyber security | CSO Online

• Cyber Security in the Evolving Threat Landscape (securityaffairs.com)

• How CISOs can make themselves ready to serve on the board | CSO Online

• CISOs Need A Data-Driven Approach To Offensive Security (forbes.com)

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Threats

Ransomware, Extortion and Destructive Attacks

• Ransomware surged 110pc last month, report claims (siliconrepublic.com)

• UK government urged to get on ‘forward foot’ with ransomware instead of ‘absorbing the punches’ (therecord.media)

• Ransomware attacks are the canaries in the cyber coal mine | The Hill

• Ransomware gang’s new extortion trick? Calling the front desk | TechCrunch

• Frameworks, Guidelines & Bounties Alone Won't Defeat Ransomware (darkreading.com)

• Ransomware group maturity should influence ransom payment decision - Help Net Security

• Proactive and Reactive Ransomware Protection Strategies - Security Boulevard

• How can the energy sector bolster its resilience to ransomware attacks? - Help Net Security

• CL0P's Ransomware Rampage - Security Measures for 2024 (thehackernews.com)

• Should You Pay a Ransomware Attacker? - Security Boulevard

• LockBit struggles to maintain relevance amid rise of impersonators and new ransomware groups - SiliconANGLE

• DragonForce Ransomware - What You Need To Know | Tripwire

• LockBit copycat DarkVault spurs rebranding rumour | SC Media (scmagazine.com)

• Ransomware payouts hit all-time high, but that’s not the whole story (securityintelligence.com)

Ransomware Victims

• Vet chain CVS hit by cyber attack | Evening Standard

• Second ransomware gang says it’s extorting Change Healthcare • The Register

• Targus says it is facing major cyber attack, global operations hit | TechRadar

• Optics giant Hoya hit with $10 million ransomware demand (bleepingcomputer.com)

• Panera Bread week-long IT outage caused by ransomware attack (bleepingcomputer.com)

Phishing & Email Based Attacks

• Attackers Using Obfuscation Tools to Deliver Multi-Stage Malware via Invoice Phishing (thehackernews.com)

• 74% of Employees Falling Victim to Phishing Attacks Hit With Disciplinary Actions; Egress Reveals | The Fintech Times

• Honeytrap sext scandal MP William Wragg will keep Tory whip (thetimes.co.uk)

• How malicious email campaigns continue to slip through the cracks - Help Net Security

• TA547 Phishing Attack Hits German Firms with Rhadamanthys Stealer (thehackernews.com)

• Cyber Criminals Invade Inboxes: What Small Businesses Can Do (pymnts.com)

• Phishing Detection and Response: What You Need to Know - Security Boulevard

Other Social Engineering

• Cyber Criminals Target Victims Using Social Engineering Techniques (ic3.gov)

• Honeytrap sext scandal MP William Wragg will keep Tory whip (thetimes.co.uk)

• LastPass: Hackers targeted employee in failed deepfake CEO call (bleepingcomputer.com)

Artificial Intelligence

• UK Warned Of AI Misinformation Targeting 2024 Polls, Nation-State Hackers Raise Stakes - Microsoft (NASDAQ:MSFT) - Benzinga

• China is using generative AI to carry out influence operations (securityaffairs.com)

• What Lies Ahead for Cyber Security in the Era of Generative AI? - IT Security Guru

• AI risks under the auditor's lens more than ever - Help Net Security

• Speed of AI development is outpacing risk assessment | Ars Technica

• AI and GDPR: How is AI being regulated? | TechTarget

• Malicious PowerShell script pushing malware looks AI-written (bleepingcomputer.com)

• LastPass: Hackers targeted employee in failed deepfake CEO call (bleepingcomputer.com)

• AI-as-a-Service Providers Vulnerable to PrivEsc and Cross-Tenant Attacks (thehackernews.com)

• How Artificial Intelligence Is Fuelling Incel Communities (yahoo.com)

2FA/MFA

• How Hackers Can Hijack 2FA Calls with Sneaky Call Forwarding (404media.co)

Malware

• Attackers Using Obfuscation Tools to Deliver Multi-Stage Malware via Invoice Phishing (thehackernews.com)

• From PDFs to Payload: Bogus Adobe Acrobat Reader Installers Distribute Byakugan Malware (thehackernews.com)

• Urgent Security Alert! Hackers Hijacked Notepad++ Plugin (gbhackers.com)

• 1.2 million people fooled by fake MidJourney Facebook page used to spread malware — don’t fall for this | Tom's Guide (tomsguide.com)

• Sophisticated Latrodectus Malware Linked to 2017 Strain (inforisktoday.com)

• Critical Flaws Leave 92,000 D-Link NAS Devices Vulnerable to Malware Attacks (thehackernews.com)

• Famous YouTube Channels Hacked to Distribute Infostealers - Infosecurity Magazine (infosecurity-magazine.com)

• Bing ad posing as NordVPN aims to spread SecTopRAT malware | SC Media (scmagazine.com)

• ScrubCrypt used to drop VenomRAT along with many malicious plugins (securityaffairs.com)

• Hackers Use Malware to Hunt Software Vulnerabilities - Infosecurity Magazine (infosecurity-magazine.com)

• Unit 42: Malware-initiated scanning attacks on the rise | TechTarget

• RUBYCARP hackers linked to 10-year-old cryptomining botnet (bleepingcomputer.com)

• Raspberry Robin Returns: New Malware Campaign Spreading Through WSF Files (thehackernews.com)

• Malicious PowerShell script pushing malware looks AI-written (bleepingcomputer.com)

• TA547 Phishing Attack Hits German Firms with Rhadamanthys Stealer (thehackernews.com)

Mobile

• Our phones are under threat more than ever — but many of us still don't have mobile security protection | TechRadar

• Apple Warns of iPhone "Mercenary Attack" Across 92 Countries (cnet.com)

• The next wave of mobile threats - Help Net Security

Denial of Service/DoS/DDOS

• How Nation-State DDoS Attacks Impact Us All (darkreading.com)

• DDoS Protection Needs Detective and Preventive Controls (darkreading.com)

• French cities knocked offline by 'large-scale cyber attack' • The Register

Internet of Things – IoT

• Amazon Removes a Feature From Fire TVs Over Security Concerns | Cord Cutters News

• Over 90,000 LG Smart TVs may be exposed to remote attacks (bleepingcomputer.com)

• EV Charging Stations Still Riddled With Cyber Security Vulnerabilities (darkreading.com)

• UK town halls given green light to use Chinese CCTV — despite Westminster ban – POLITICO

• Hotel check-in terminal leaks rafts of guests' room codes • The Register

Data Breaches/Leaks

• Many of the world's biggest companies reported data breaches last year | TechRadar

• US Data Breach Reports Surge 90% Annually in Q1 - Infosecurity Magazine (infosecurity-magazine.com)

• 37% of publicly shared files expose personal information - Help Net Security

• Acuity confirms hackers stole non-sensitive govt data from GitHub repos (bleepingcomputer.com)

• Home Depot confirms third-party data breach exposed employee info (bleepingcomputer.com)

• AT&T now says data breach impacted 51 million customers (bleepingcomputer.com)

• DOJ data on 340,000 individuals stolen in consulting firm hack | SC Media (scmagazine.com)

• Taxi software vendor exposes personal details of nearly 300K • The Register

• Employee credentials leaked in Microsoft security lapse (techmonitor.ai)

Organised Crime & Criminal Actors

• Russia ranked biggest cyber crime threat to rest of the world | Tech News | Metro News

• Oxford research uncovers world cyber crime hotspots | thisisoxfordshire

• Cyber crooks poison GitHub search to fool developers | Computer Weekly

• Zambia Busts 77 People in China-Backed Cyber Crime Op (darkreading.com)

Cryptocurrency/Cryptomining/Cryptojacking/NFTs/Blockchain

• Google sues crypto investment app makers over alleged massive "pig butchering" scam (bitdefender.com)

• Fugitive CEO at the center of 2022 crypto crash found liable for fraud | Cryptocurrencies | The Guardian

• Hackers deploy crypto drainers on thousands of WordPress sites (bleepingcomputer.com)

• RUBYCARP hackers linked to 10-year-old cryptomining botnet (bleepingcomputer.com)

Insider Risk and Insider Threats

• 74% of Employees Falling Victim to Phishing Attacks Hit With Disciplinary Actions; Egress Reveals | The Fintech Times

• Microsoft employees exposed internal passwords in security lapse | TechCrunch

• Insider Threats Surge Amid Growing Foreign Interference - Security Boulevard

Insurance

• US insurers using drones to deny home insurance policies • The Register

• Cyber Insurance: Sexy? No. Important? Critically yes. - Security Boulevard

Supply Chain and Third Parties

• Why a near-miss cyber attack put US officials and the tech industry on edge - The Japan Times

• DOJ data on 340,000 individuals stolen in consulting firm hack | SC Media (scmagazine.com)

• Combatting Supply Chain Cyber Threats: Safeguarding Data and Protecting Digital Supply Chains | Foley & Lardner LLP - JDSupra

Encryption

• How cryptographers finally cracked one of the Zodiac Killer’s hardest codes | Popular Science (popsci.com)

Linux and Open Source

• The Cyber Attack Stopped by a Microsoft Engineer Was Scarier Than We Realize | Inc.com

• Supply chain attack sends shockwaves through open-source community | CyberScoop

• German state ditches Microsoft for Linux and LibreOffice | ZDNET

• Open source foundations unite on common standards for EU’s Cyber Resilience Act | TechCrunch

• Who’s the bigger cyber security risk – Microsoft or open source? (reason.com)

Passwords, Credential Stuffing & Brute Force Attacks

• Reusing passwords: The hidden cost of convenience (bleepingcomputer.com)

• Microsoft employees exposed internal passwords in security lapse | TechCrunch

• CISA says Sisense hack impacts critical infrastructure orgs (bleepingcomputer.com)

Social Media

• A TikTok Whistleblower Got DC’s Attention. Do His Claims Add Up? | WIRED

• 1.2 million people fooled by fake MidJourney Facebook page used to spread malware — don’t fall for this | Tom's Guide (tomsguide.com)

• Famous YouTube Channels Hacked to Distribute Infostealers - Infosecurity Magazine (infosecurity-magazine.com)

Regulations, Fines and Legislation

• Cyber Security Regulations Aren’t Static—Your Practices Can’t Be Either (forbes.com)

• Open source foundations unite on common standards for EU’s Cyber Resilience Act | TechCrunch

• Understanding CISA’s New Draft Rules for Cyber Attack Reporting | Morgan Lewis - Tech & Sourcing - JDSupra

• Spy Law Needs Fixing Now to Stop Overreach—Not a Backdoor Boost (bloomberglaw.com)

• AI and GDPR: How is AI being regulated? | TechTarget

• CISA: 300,000+ Small Entities Covered By Proposed Cyber Reporting Regs | MSSP Alert

• CISO Perspectives on Complying with Cyber Security Regulations (thehackernews.com)

Models, Frameworks and Standards

• HIPAA Fundamentals for Providers | Tucker Arensberg, P.C. - JDSupra

• Process and Control Today | NIS2 – cyber security directive from the EU. Get ready! (pandct.com)

• DORA Compliance Checklist | UpGuard

Backup and Recovery

• Seven ways to be sure you can restore from backup | Computer Weekly

Data Protection

• 37% of publicly shared files expose personal information - Help Net Security

Careers, Working in Cyber and Information Security

• Want to make cyber security much stronger? Become a mentor | CSO Online

Law Enforcement Action and Take Downs

• Zambia Busts 77 People in China-Backed Cyber Crime Op (darkreading.com)

Misinformation, Disinformation and Propaganda

• UK Warned Of AI Misinformation Targeting 2024 Polls, Nation-State Hackers Raise Stakes - Microsoft (NASDAQ:MSFT) - Benzinga

• State-backed cyber attacks, AI deepfakes: Top UK election cyber risks (cnbc.com)

• China is using generative AI to carry out influence operations (securityaffairs.com)

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

Nation State Actors

• How Nation-State DDoS Attacks Impact Us All (darkreading.com)

• Foreign Interference Drives Record Surge in IP Theft - Infosecurity Magazine (infosecurity-magazine.com)

China

• A TikTok Whistleblower Got DC’s Attention. Do His Claims Add Up? | WIRED

• Chinese Groups Deploy New TTPs to Exploit Ivanti Vulnerabilities - Infosecurity Magazine (infosecurity-magazine.com)

• China is using generative AI to carry out influence operations (securityaffairs.com)

• Zambia Busts 77 People in China-Backed Cyber Crime Op (darkreading.com)

• Honeytrap sext scandal MP William Wragg will keep Tory whip (thetimes.co.uk)

• How China is Hacking America (newsweek.com)

• UK town halls given green light to use Chinese CCTV — despite Westminster ban – POLITICO

• China flooding Britain with fake stamps in act of 'economic warfare' (telegraph.co.uk)

Russia

• Germany to launch cyber military branch to combat Russian threats (therecord.media)

• US says Russian hackers stole federal government emails during Microsoft cyber attack | TechCrunch

• Macron: Russia will target Paris Olympics (insidethegames.biz)

• Cyber attack on TV channel BabyTV: Toddlers suddenly exposed to Russian propaganda | NL Times

• Czechia explains how Russia is trying to arrange sabotage on European railways | European Pravda (eurointegration.com.ua)

• Cyber security in 2023: Estonia's year of advanced threats (e-estonia.com)

• Oxford research uncovers world cyber crime hotspots | thisisoxfordshire

• Most cyber criminal threats are concentrated in just a few countries, new index shows (phys.org)

• Extensive Russian criminal record leak conducted by hacktivist group | SC Media (scmagazine.com)

Other Nation State Actors, Hacktivism, Extremism, Terrorism and Other Geopolitical Threat Intelligence

• Top Israeli spy chief exposes his true identity in online security lapse | Israel | The Guardian

• Extensive Russian criminal record leak conducted by hacktivist group | SC Media (scmagazine.com)

• Apple Updates Spyware Alert System to Warn Victims of Mercenary Attacks (thehackernews.com)

• Apple mercenary spyware attack: Exclusive: Apple warns users of "mercenary spyware" attack; India, 91 other countries impacted - The Economic Times (indiatimes.com)

• Apple Warns of iPhone "Mercenary Attack" Across 92 Countries (cnet.com)

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Vulnerability Management

• Zero-Day Attacks on the Rise: Google Reports 50% Increase in 2023 - Security Boulevard

• How exposure management elevates cyber resilience - Help Net Security

• Company Offering $30 Million for Android, iOS, Browser Zero-Day Exploits -  Security Week

• Hackers Use Malware to Hunt Software Vulnerabilities - Infosecurity Magazine (infosecurity-magazine.com)

• Unit 42: Malware-initiated scanning attacks on the rise | TechTarget

Vulnerabilities

• Microsoft Fixes 149 Flaws in Huge April Patch Release, Zero-Days Included (thehackernews.com)

• Patch Tuesday: Code Execution Flaws in Multiple Adobe Software Products -  Security Week

• Chinese Groups Deploy New TTPs to Exploit Ivanti Vulnerabilities - Infosecurity Magazine (infosecurity-magazine.com)

• SAP's April 2024 Updates Patch High-Severity Vulnerabilities -  Security Week

• Microsoft Plugs Gaping Hole in Azure Kubernetes Service Confidential Containers -  Security Week

• Two new bugs can bypass detection and steal SharePoint data | SC Media (scmagazine.com)

• New SharePoint flaws help hackers evade detection when stealing files (bleepingcomputer.com)

• Hackers Claiming of Working Windows 0-Day LPE Exploit (cybersecuritynews.com)

• Microsoft fixes five security vulnerabilities in Edge 123 - Neowin

• Cisco Warns of Vulnerability in Discontinued Small Business Routers -  Security Week

• Urgent Security Alert! Hackers Hijacked Notepad++ Plugin (gbhackers.com)

• +16K Ivanti VPN gateways still vulnerable to RCE CVE-2024-21894 (securityaffairs.com)

• Over 92,000 exposed D-Link NAS devices have a backdoor account (bleepingcomputer.com)

• Company Offering $30 Million for Android, iOS, Browser Zero-Day Exploits -  Security Week

• Critical 'BatBadBut' Rust Vulnerability Exposes Windows Systems to Attacks (thehackernews.com)

• Intel and Lenovo servers impacted by 6-year-old BMC flaw (bleepingcomputer.com)

• Critical Flaws Leave 92,000 D-Link NAS Devices Vulnerable to Malware Attacks (thehackernews.com)

• Fortinet Patches Critical RCE Vulnerability in FortiClientLinux -  Security Week

• Researchers Resurrect Spectre v2 Attack Against Intel CPUs -  Security Week

• AI-as-a-Service Providers Vulnerable to PrivEsc and Cross-Tenant Attacks (thehackernews.com)

• Severe Vulnerabilities Discovered in Software to Protect Internet Routing (prleap.com)

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Tools and Controls

• Seven ways to be sure you can restore from backup | Computer Weekly

• Why incident response is the best cyber security ROI | CSO Online

• Why Intelligence Sharing Is Vital to Building a Robust Collective Cyber Defence Program -  Security Week

• Improving Dark Web Investigations with Threat Intelligence | Recorded Future

• What Lies Ahead for Cyber Security in the Era of Generative AI? - IT Security Guru

• What is cyber security risk & how to assess - Security Boulevard

• Your Guide to Threat Detection and Response - Security Boulevard

• Report finds 90% of cyber attacks in 2023 exploited RDP (securitybrief.co.nz)

• How exposure management elevates cyber resilience - Help Net Security

• Phishing Detection and Response: What You Need to Know - Security Boulevard

• The state of secrets security: 7 action items for better managing risk - Security Boulevard

• How Red Team Exercises Increases Your Cyber Health | Trend Micro (US)

• How Google’s 90-day TLS certificate validity proposal will affect enterprises - Help Net Security

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Reports Published in the Last Week

• Cyber security breaches survey 2024 - GOV.UK (www.gov.uk)

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Other News

• Third of charities experienced a cyber breach last year, government reports (civilsociety.co.uk)

• Hackers Exploit Magento Bug to Steal Payment Data from E-commerce Websites (thehackernews.com)

• OODA Loop - The Water Sector Is Being Threatened.  That Should Worry Everyone

• Anticipated Cyber Threats During the 2024 Olympics & How to Proactively Secure Your Business - Security Boulevard

• France Bracing for Cyber Attacks During Summer Olympics - The New York Times (nytimes.com)

• Risk & Repeat: Cyber Safety Review Board takes Microsoft to task | TechTarget

• The Baltimore Bridge Collapse Is a Warning | Proceedings - April 2024 Vol. 150/4/1,454 (usni.org)

• Report finds 90% of cyber attacks in 2023 exploited RDP (securitybrief.co.nz)

• Scandal and cyber security in Westminster | Crooked Media

• Financial sector cyber security at the helm of investor protection | Mint (livemint.com)

• US Health Dept warns hospitals of hackers targeting IT help desks (bleepingcomputer.com)

• Only 1% Singapore companies are “mature” in cyber threat readiness but 99% plan to increase their cyber security budget in the next 12 months - Singapore News (theindependent.sg)

• Former Uber CSO Joe Sullivan and lessons learned from the infamous 2016 Uber breach | CSO Online

• Software-Defined Vehicle Fleets Face a Twisty Road on Cyber Security (darkreading.com)

• Independent Pharmacies Must Prioritize Cyber Security (drugtopics.com)

• Devious 'man in the middle' hacks on the rise: How to stay safe | PCWorld

• Top 10 Attacker Techniques: What do They Mean for MSSPs? | MSSP Alert

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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.

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