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Black Arrow Cyber Threat Briefing 10 May 2024
Black Arrow Cyber Threat Intelligence Briefing 10 May 2024:
-China Suspected of Hacking MoD, Through Its Payroll Provider
-Security Tools Fail to Translate Risks for Executives
-Gang Accused of MGM Hack Shifts Attacks to Finance Sector
-Are SMEs Paving the Way for Cyber Attacks on Larger Companies?
-Misconfigurations Drive 80% of Security Exposure, Report Finds
-Only 45% of Organisations Employ MFA Protections
-You Cannot Protect What You Do Not Know You Have, as Criminals are Exploiting Vulnerabilities Faster Than Ever
-The Rise and Stealth of The Socially Engineered Insider
-Over 70% of Staff Use AI At Work, But Only 30% of European Organisations Provide AI Training
-Don't Be the Weakest Link – You and Your Team's Crucial Role in Cyber Security
-Ransomware Activity Thrives, Despite Law enforcement Efforts
-NATO Warns of Russian Hybrid Warfare
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
China Suspected of Hacking UK Ministry of Defence, Through Its Payroll Provider
UK Defence Secretary Grant Shapps has confirmed that over 270,000 personal details have been leaked after the MoD was hacked through its third-party payroll provider, SSCL. The affected systems have been pulled offline since the attack. SSCL’s website describes that it manages HR for the armed forces, the Metropolitan Police and other areas of British government. The commercial supply chain, and in particular HR and payroll providers, is increasing being used as the soft underbelly to attack larger and better protected organisations.
Sources: [LBC] [The Register] [Sky News]
Security Tools Fail to Translate Risks for Executives
Organisations are struggling with internal communication barriers, hindering their ability to address and mitigate cyber security threats, according to a report which found that seven out of 10 C-suite executives said their security teams talk in technical terms without providing business context. However, in contrast, 75% of CISO’s highlight the issue is rooted in security tools that cannot generate the insights C-level executives and boards can use to understand business implications. The role of a good CISO should be to take the output of these tools and turn that data into metrics the Boards can understand.
The issues highlight the necessity for organisations to have someone in their organisation, whether an employee or a third-party, who is able to ingest technical results and translate them into a style that the C-suite can understand for business risk management.
Source: [Help Net Security]
Gang Accused of MGM Hack Shifts Attacks to Finance Sector
The hacking group responsible for the infamous hack on MGM and Caesar’s Palace resorts is engaged in a new campaign targeting the financial sector. The group known as Scattered Spider has targeted 29 companies since 20 April this year, compromising at least 2 insurance companies so far. The research has stated that the attackers are purchasing lookalike domains that match the name of target companies, hosting fake log-in pages. Links to these are sent to employees, in an attempt to direct them there. The most recent attack took place just days ago, with more expected.
Sources: [Bloomberg Law] [Claims Journal]
Are SMEs Paving the Way for Cyber Attacks on Larger Companies?
A recent study highlights the escalating cyber threats facing businesses, particularly SMEs and supply chains. The study found that 32% of UK businesses, including 69% of large and 59% of mid-sized organisations, suffered a cyber attack last year. The situation is worse for SMEs, with weaker security systems and 77% lacking in-house cyber security. SMEs can become entry points for hackers targeting larger partners through interconnected supply chains. Meanwhile, Verizon’s latest data breaches report revealed a 68% increase in supply chain breaches, accounting for 15% of all breaches in 2023, up from 9% in 2022. These breaches are primarily driven by third-party software vulnerabilities exploited in ransomware and extortion attacks. Experts emphasise proactive cyber policies, vulnerability scans, and employee education for SMEs to bolster defences. They also urge organisations to consider third-party bugs as both vulnerability and vendor management problems, make better vendor choices, and use external signals like SEC disclosures in the United States to guide decisions. These measures can help prevent SMEs from becoming gateways for larger attacks and manage the rising threat of supply chain breaches.
Sources: [Insurance Times] [Dark Reading]
Misconfigurations Drive 80% of Security Exposure, Report Finds
A recent report has found that 80% of security exposures are caused by identity and credential misconfigurations, with a third of these putting critical assets at risk of a breach. According to the report, the majority of this is within an organisation’s network user management (Active Directory) and 56% of breaches that impact critical assets are within cloud platforms. There is often the misconception that cloud-based environments are secure by default, but misconfigurations can undo any security benefits and still leave you exposed. Just because someone else built and maintains your house, it is still your responsibility to lock the doors and windows.
Sources: [Security Magazine]
Only 45% of Organisations Employ MFA Protections
A recent report of IT decision-makers has found that 97% are facing challenges with identity verification and 52% are very concerned about credential compromise, followed by account takeover (50%). When it comes to reinforcing identity verification, only 45% used multi-factor authentication (MFA). By using MFA, organisations are forcing two identification verifications: simply knowing a username and password is not enough, especially given the speeds with which attackers can crack passwords, with average 8 character passwords able to be cracked in less than a minute. Whilst no control is 100% impenetrable, enabling MFA will aid in increasing your organisation's cyber resilience.
Source: [Help Net Security]
You Cannot Protect What You Do Not Know You Have, as Criminals are Exploiting Vulnerabilities Faster Than Ever
For many organisations, visibility of their information assets can be incredibly hard to obtain and maintain, with different tools, under-reporting and shadow IT contributing to the problem. Unfortunately, cyber criminals are getting faster at exploiting vulnerabilities, and if you do not know you have the vulnerability in your estate then you cannot patch against it. In their recent report, Fortinet found that attacks started on average 4.76 days after new exploits were publicly disclosed.
Interestingly though, while zero-day threats garner much attention (these are ‘new’ vulnerabilities that are being exploited by attackers but for which there are no security patches yet available), one third of all exploits are for older vulnerabilities. This highlights the need for a comprehensive and robust approach to network security and vulnerability management, beyond simply patching what Microsoft puts out once a month. To have effective patch management, organisations must know what they need to patch and therefore must have visibility of the corporate environment. A good starting block is the creation of a robust information asset register.
Sources: [Security Brief] [Help Net Security] [IT Security Guru]
The Rise and Stealth of The Socially Engineered Insider
Social engineering has become increasingly prevalent as the preferred tactic for foreign adversaries. Insiders are prime targets due to their privileged access to sensitive data. This is particularly affecting the technology, pharma, and critical infrastructure sectors. Advances in AI and social platforms have made it easier to exploit these vulnerabilities. These advances allow threat actors to tailor attacks with unprecedented speed and realism. Using methods like coercion or deception, these actors exploit employees to gain high-value data that can be weaponised. As a result, the threat landscape has become more complex, blurring the lines between internal and external risks. To bolster their defences, organisations are now investing in insider risk management and AI. They are also emphasising employee education and cross-sector collaboration.
Source: [Forbes]
Over 70% of Staff Use AI At Work, But Only 30% of European Organisations Provide AI Training
An ISACA study and the AI Security & Governance Report reveal a complex landscape of AI adoption and security. 73% of European organisations and 54% of global organisations use AI, with 79% increasing their AI budgets, however training and policy development lag behind. Only 30% offer limited training, 40% provide none, and a mere 17% have a comprehensive AI policy. Despite AI’s potential, 80% of data experts find it complicates security, with concerns high around generative AI exploitation (61% of respondents) and AI-powered attacks (over 50% of business leaders). Data poisoning and privacy issues persist, yet 85% of leaders express confidence in their data security strategies, with 83% revising privacy and governance guidelines. With 86% recognising a need for AI training within two years, the call for dynamic governance strategies and formal education is clear to manage evolving threats.
Sources: [Help Net Security] [IT Security Guru]
Don't Be the Weakest Link – You and Your Team's Crucial Role in Cyber Security
Cyber security success depends on more than just technology. Bad actors are always looking for the easiest entry point, meaning that employees’ everyday actions are crucial, when even one careless click or a weak password can be an open door for hackers. However, empowered with the right knowledge and tools, staff can become a robust defence. Nearly 80% of organisations have reported an increase in phishing attacks, but training programs like role-playing exercises and phishing simulations significantly reduce these risks. Effective cyber security also hinges on C-suite leaders promoting a security-first culture, ensuring all employees understand the risks and follow strict protocols like MFA and strong password policies. Consistent training and open communication are vital in fostering a resilient, security-aware workforce.
Source: [JDSupra]
Ransomware Activity Thrives, Despite Law enforcement Efforts
Despite the recent law enforcement takedowns on ransomware groups, ransomware remains rife. Whilst the takedown of a group can come as an initial relief in that the group has gone, it simply forces ransomware affiliates to diversify. This is reflected in ransomware continuing its growth in the first quarter of 2024, with 18 new leak sites, the largest number in a single quarter, emerging over this period. When comes to those at risk, both financial services and healthcare remain a prominent target.
Sources: [Help Net Security ] [Infosecurity Magazine] [Help Net Security]
NATO Warns of Russian Hybrid Warfare
NATO has issued a statement in which it describes it is “deeply concerned about Russia's hybrid actions and the threat that they constitute to NATO security”. The actions are described to include sabotage, acts of violence, cyber and electronic interference, and disinformation campaigns. This comes as many countries including the UK and US are due to have elections this year.
Sources: [EU Reporter] [Financial Times]
Governance, Risk and Compliance
You cannot protect what you do not understand (securitybrief.co.nz)
Security tools fail to translate risks for executives - Help Net Security
It Costs How Much?!? The Financial Pitfalls of Cyber Attacks on SMBs (thehackernews.com)
Now More Than Ever, it's Crucial for Companies to Get Cyber Security Right (newsweek.com)
Why SMBs are facing significant security, business risks - Help Net Security
Are SMEs paving the way for cyber attacks on larger companies? | Insurance Times
Don't Be the Weakest Link – Your Team's Crucial Role in Cyber Security | NAVEX - JDSupra
The Art Of Cyber Security Governance: Safeguarding Beyond Code (forbes.com)
CISOs Are Worried About Their Jobs & Dissatisfied With Their Incomes (darkreading.com)
92% of CISOs Question the Future of Their Role Amidst Growing AI Pressures | Business Wire
Three strategies for winning the cyber security arms race | Fintech Nexus
Rethinking Cyber Security Investment Amid Rising Threats (govinfosecurity.com)
CIOs and CFOs, two parts of the same whole - IT Security Guru
Threats
Ransomware, Extortion and Destructive Attacks
Gang Accused of MGM Hack Turns Its Sights on Finance Sector (bloomberglaw.com)
Cybercrime Unicorns: What Everyone Needs to Know About Ransomware Gangs (pcmag.com)
Why Paying Should Be A Last Resort In Ransomware Attacks (forbes.com)
Ransomware activity is back on track despite law enforcement efforts - Help Net Security
Ransomware evolves from extortion to 'psychological attacks' • The Register
Russian Hacker Dmitry Khoroshev Unmasked as LockBit Ransomware Administrator (thehackernews.com)
Ransomware attacks impact 20% of sensitive data in healthcare orgs - Help Net Security
An overwhelming majority of organisations paid ransomware last year - eCampus News
The Growing Threat of Advanced Ransomware Attacks (inforisktoday.com)
Law enforcement seized Lockbit group's website again (securityaffairs.com)
Consultant charged with $1.5M extortion of IT giant • The Register
IT chiefs plan to spend and innovate their way out of ransomware swamp | TechRadar
Ransomware crooks SIM swap kids to pressure parents • The Register
Scattered Spider group a unique challenge for cyber cops, FBI leader says (therecord.media)
97% of Organisations Hit by Ransomware Worked with Law Enforcement (globenewswire.com)
CISA boss: Secure software needed to stop ransomware • The Register
Shields Up: How to Minimize Ransomware Exposure - Security Week
Ransomware Victims
UnitedHealth’s 'egregious negligence' led to that ransomware • The Register
Ascension healthcare takes systems offline after cyber attack (bleepingcomputer.com)
London Drugs president tight-lipped over recent cyber attack | CBC News
Boeing confirms attempted $200 million ransomware extortion attempt | CyberScoop
Cyber attack disrupts operations at major US health care network | CNN Business
City of Wichita Shuts Down Network Following Ransomware Attack - Security Week
Patient appointments imperilled by cyber attack on French radiologist (therecord.media)
Ransomware attack hits Brandywine Realty Trust | SC Media (scmagazine.com)
Phishing & Email Based Attacks
Other Social Engineering
The Rise And Stealth Of The Socially Engineered Insider (forbes.com)
Iranian hackers harvest credentials through advanced social engineering campaigns | CSO Online
What is social engineering penetration testing? | Definition from TechTarget
Artificial Intelligence
Organisations go ahead with AI despite security risks - Help Net Security
Innovation, Not Regulation, Will Protect Corporations From Deepfakes (darkreading.com)
Strategies for preventing AI misuse in cyber security - Help Net Security
AI is changing the game when it comes to cyber security | ITPro
Why the Cyber Security Industry Is Obsessed With AI Right Now - CNET
LLMs & Malicious Code Injections: 'We Have to Assume It's Coming' (darkreading.com)
Cyber Security, Deepfakes and the Human Risk of AI Fraud (govtech.com)
Criminal Use of AI Growing, But Lags Behind Defenders - Security Week
2FA/MFA
Only 45% of organisations use MFA to protect against fraud - Help Net Security
UnitedHealth Attack: Stolen Credentials, No MFA | MSSP Alert
Malware
ZLoader Malware adds Zeus's anti-analysis feature (securityaffairs.com)
Russia-linked APT28 and crooks are still using the Moobot botnet (securityaffairs.com)
Iranian hackers pose as journalists to push backdoor malware (bleepingcomputer.com)
New 'Cuckoo' Persistent macOS Spyware Targeting Intel and Arm Macs (thehackernews.com)
Hijack Loader Malware Employs Process Hollowing, UAC Bypass in Latest Version (thehackernews.com)
Mirai Botnet Exploits Ivanti Connect Secure Flaws for Malicious Payload Delivery (thehackernews.com)
Mobile
Mobile Banking Malware Surges 32% - Infosecurity Magazine (infosecurity-magazine.com)
Android bug can leak DNS traffic with VPN kill switch enabled (bleepingcomputer.com)
European Threat To End-To-End Encryption Would Invade Phones (forbes.com)
Ransomware crooks SIM swap kids to pressure parents • The Register
Denial of Service/DoS/DDOS
Data Breaches/Leaks
How does a data breach affect you and why should you care? | TechRadar
Dell customer order database stolen, for sale on dark web • The Register
The Breach of a Face Recognition Firm Reveals a Hidden Danger of Biometrics | WIRED
Cyber attack: Large volume of data stolen in attack on Scottish health board (scotsman.com)
Security breach affects 6,000 German military VC meetings (avinteractive.com)
Security company exposes 1.2M guard and suspect records • The Register
Children's mental health records published after cyber attack - BBC News
Georgia education agency's MOVEit data theft impacted 800K • The Register
Data Brokers: What They Are and How to Safeguard Your Privacy - IT Security Guru
Zscaler Investigates Hacking Claims After Data Offered for Sale - Security Week
UK government departments reveal rise in data breaches & lost devices (datacentrenews.uk)
'Sophisticated' cyber attacks involving British Colombia government networks found | CBC News
Over 380K more NYC students had info leaked, bringing total to over 1M (nypost.com)
Dating apps kiss'n'tell all sorts of sensitive user info • The Register
Organised Crime & Criminal Actors
Hackers of all kinds are attacking routers across the world | TechRadar
These Dangerous Scammers Don’t Even Bother to Hide Their Crimes | WIRED
Massive webshop fraud ring steals credit cards from 850,000 people (bleepingcomputer.com)
Scattered Spider group a unique challenge for cyber cops, FBI leader says (therecord.media)
Cryptocurrency/Cryptomining/Cryptojacking/NFTs/Blockchain
Insider Risk and Insider Threats
The Rise And Stealth Of The Socially Engineered Insider (forbes.com)
Don't Be the Weakest Link – Your Team's Crucial Role in Cyber Security | NAVEX - JDSupra
Supply Chain and Third Parties
UK Military Data Breach a Reminder of Third-Party Risk (darkreading.com)
Details of UK military personnel exposed in huge payroll data breach | AP News
Firm at centre of MoD 'China' hack handles data for several Whitehall departments (inews.co.uk)
DBIR: Supply Chain Breaches Up 68% Year Over Year (darkreading.com)
The complexities of third-party risk management - Help Net Security
Cloud/SaaS
Encryption
Cop complaints won't stop E2EE, says encryption advocate • The Register
European Threat To End-To-End Encryption Would Invade Phones (forbes.com)
Linux and Open Source
Open-Source Cyber Security Is a Ticking Time Bomb (gizmodo.com)
Spies Among Us: Insider Threats in Open Source Environments (darkreading.com)
Passwords, Credential Stuffing & Brute Force Attacks
Iranian hackers harvest credentials through advanced social engineering campaigns | CSO Online
Microsoft introduces Passkeys support for consumer accounts - gHacks Tech News
Google Announces Passkeys Adopted by Over 400 Million Accounts (thehackernews.com)
UnitedHealth Attack: Stolen Credentials, No MFA | MSSP Alert
Hackers can crack average 8-character passwords in under a minute (newsbytesapp.com)
How secure is the “Password Protection” on your files and drives? - Help Net Security
Social Media
Training, Education and Awareness
Regulations, Fines and Legislation
The EU Cyber Diplomacy Toolbox: Shaping Global Cyber Security Standards | UpGuard
The NIS2 Compliance Deadline Is Nearing. Are You Prepared? - Security Boulevard
Innovation, Not Regulation, Will Protect Corporations From Deepfakes (darkreading.com)
Models, Frameworks and Standards
Data Protection
Careers, Working in Cyber and Information Security
How workforce reductions affect cyber security postures - Help Net Security
One in Four Tech CISOs Unhappy with Compensation - Security Boulevard
Law Enforcement Action and Take Downs
Ransomware activity is back on track despite law enforcement efforts - Help Net Security
LockBit's seized darknet site resurrected by police, teasing new revelations (therecord.media)
LockBit leader unmasked and sanctioned - National Crime Agency
Israeli private investigator wanted for hacking in US is arrested in London | The Independent
German police bust Europe's 'largest' scam call centre – DW – 05/02/2024
Consultant charged with $1.5M extortion of IT giant • The Register
97% of Organisations Hit by Ransomware Worked with Law Enforcement (globenewswire.com)
Nation State Actors, Advanced Persistent Threats (APTs), Cyber Warfare, Cyber Espionage and Geopolitical Threats/Activity
Cyber Warfare and Cyber Espionage
Israeli private investigator wanted for hacking in US is arrested in London | The Independent
Cyber Attacks on US Utilities: New Trends in Cyber Warfare - ClearanceJobs
'The Mask' Espionage Group Resurfaces After 10-Year Hiatus (darkreading.com)
Nation State Actors
China
Firm at centre of MoD 'China' hack handles data for several Whitehall departments (inews.co.uk)
Lessons from LOCKED SHIELDS 2024 cyber exercise | SC Media (scmagazine.com)
China-Linked Hackers Used ROOTROT Webshell in MITRE Network Intrusion (thehackernews.com)
Russia
Malice from Moscow: NATO warns of Russian hybrid warfare - EU Reporter
Russia plotting sabotage across Europe, intelligence agencies warn (ft.com)
How Nato could respond after wave of Russian spy arrests across Europe (inews.co.uk)
EU, NATO denounce Russia's cyber attacks on Germany, Czechia (kyivindependent.com)
Russia Cyber Attack Germany's Ruling Party, Defence | Silicon UK
Foreign Ministry: Czech institutions targeted by GRU cyber attacks | Radio Prague International
Russia-linked APT28 and crooks are still using the Moobot botnet (securityaffairs.com)
Ukraine records increase in financially motivated attacks by Russian hackers (therecord.media)
Cyber War? EU rages over alleged Russian cyber attack on German’s ruling SPD (brusselssignal.eu)
Lessons from LOCKED SHIELDS 2024 cyber exercise | SC Media (scmagazine.com)
A (Strange) Interview With the Russian-Military-Linked Hackers Targeting US Water Utilities | WIRED
Russia says Germany using baseless 'hacker myths' to destroy ties | Reuters
Poland says it too was targeted by Russian hackers – POLITICO
Kaspersky denies claims it helped Russia with drones • The Register
Iran
Iranian hackers pose as journalists to push backdoor malware (bleepingcomputer.com)
Iranian hackers harvest credentials through advanced social engineering campaigns | CSO Online
North Korea
Other Nation State Actors, Hacktivism, Extremism, Terrorism and Other Geopolitical Threat Intelligence
Vulnerability Management
Cyber criminals are getting faster at exploiting vulnerabilities - Help Net Security
Misconfigurations drive 80% of security exposures | Security Magazine
Patch management vs. vulnerability management: Key differences | TechTarget
What is Risk-Based Vulnerability Management (RBVM)? (techtarget.com)
CISA’s KEV list improving private and public-sector patching • The Register
CISA Announces CVE Enrichment Project 'Vulnrichment' - Security Week
Vulnerabilities
Citrix Addresses High-Severity NetScaler Servers Flaw (darkreading.com)
Over 50,000 Tinyproxy servers vulnerable to critical RCE flaw (bleepingcomputer.com)
Veeam fixes RCE flaw in backup management platform (CVE-2024-29212) - Help Net Security
LiteSpeed Cache WordPress plugin actively exploited in the wild (securityaffairs.com)
New BIG-IP Next Central Manager bugs allow device takeover (bleepingcomputer.com)
Microsoft: April Windows Server updates also cause crashes, reboots (bleepingcomputer.com)
Android bug can leak DNS traffic with VPN kill switch enabled (bleepingcomputer.com)
Mirai Botnet Exploits Ivanti Connect Secure Flaws for Malicious Payload Delivery (thehackernews.com)
Tools and Controls
Behind Closed Doors: The Rise of Hidden Malicious Remote Access (cybereason.com)
Security tools fail to translate risks for executives - Help Net Security
Misconfigurations drive 80% of security exposures | Security Magazine
NSA, FBI Alert on North Korean Hackers Spoofing Emails from Trusted Sources (thehackernews.com)
Microsoft plans to lock down Windows DNS like never before. Here’s how. | Ars Technica
Novel attack against virtually all VPN apps neuters their entire purpose | Ars Technica
Strategies for preventing AI misuse in cyber security - Help Net Security
Shadow APIs: An Overlooked Cyber Risk for Orgs (darkreading.com)
What is social engineering penetration testing? | Definition from TechTarget
How workforce reductions affect cyber security postures - Help Net Security
What is Risk-Based Vulnerability Management (RBVM)? (techtarget.com)
Top 10 physical security considerations for CISOs | CSO Online
IT chiefs plan to spend and innovate their way out of ransomware swamp | TechRadar
A SaaS Security Challenge: Getting Permissions All in One Place (thehackernews.com)
Tips for Controlling the Costs of Security Tools - The New Stack
Rethinking Cyber Security Investment Amid Rising Threats (govinfosecurity.com)
Microsoft confirms Windows 11 24H2 turns on Device Encryption by default (windowslatest.com)
Reports Published in the Last Week
Other News
Microsoft overhaul treats security as ‘top priority’ after a series of failures - The Verge
The EU Cyber Diplomacy Toolbox: Shaping Global Cyber Security Standards | UpGuard
Complexity leads to trade-off between risk and innovation (betanews.com)
When has the UK faced cyber attacks in the past? | The Independent
Man-in-the-middle attack: The new cyber security threat | YourStory
Paris 2024 gearing up to face unprecedented cyber security threat | Reuters
38% of riskiest cyber physical systems neglected, warns Claroty report (securitybrief.co.nz)
Why undersea cables need high-priority protection • The Register
GAO: NASA Faces 'Inconsistent' Cyber Security Across Spacecraft (darkreading.com)
Cyber security regulations: Are non-compliant cars more vulnerable? | Autocar
Fujitsu sets aside £200m as calls mount for Post Office scandal payout
FE News | Why the education sector needs to do the homework on cyber security as attacks soar
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.
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Black Arrow Cyber Threat Briefing 03 May 2024
Black Arrow Cyber Threat Intelligence Briefing 03 May 2024:
-Most Attacks Impacting SMB’s Target Older, Unpatched Vulnerabilities
-91% of Ransomware Victims Paid At least One Ransom in the Past Year, as 1 in 5 Ransomware Attacks Triggers Lawsuit
-BEC and Fund Transfer Fraud Top Insurance Claims
-Correlating Cyber Investments with Business Outcomes
-Vulnerability Exploitation up 180%, 68% of Breaches involved Humans and Supply Chain Weak Link
-MOVEit & Change Healthcare Attacks Designated as Cyber Catastrophe Loss Events by Insurer
-Securing Your Organisation’s Supply Chain: Reducing the Risks of Third Parties
-Why Remote Desktop Tools are Facing an Onslaught of Cyber Threats
-95% of Organisations Revamped Cyber Security Strategies in the Last Year: Make Sure Yours is Right
-Human Factor a Significant Risk for Small and Medium-Sized Businesses.
-Microsoft CEO Says it is Putting Security Above All Else in Major Refocus
-Ending the Culture of Silence in Cyber Security; Three Ways to Empower Teams
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
Most Attacks Impacting SMB’s Target Older, Unpatched Vulnerabilities
Attackers continue to aggressively target small and mid-size businesses using specific high-profile vulnerabilities dating back a decade or more, network telemetry shows. Findings have shown that this is due to these vulnerabilities featuring in a wide range of products. Due to their prevalence, they can often become missed by organisations conducting patch management and therefore leave the organisation open.
For this reason it is critical that all organisations, including smaller organisations, have internal as well as external vulnerability scanning. You might believe your systems are patched up to date but there is no way to confirm without scanning , or to know which patches might have been missed.
Sources: [Infosecurity Magazine]
91% of Ransomware Victims Paid At least One Ransom in the Past Year, as 1 in 5 Ransomware Attacks Triggers Lawsuit
Ransomware attacks saw a significant surge in 2023, following a dip in 2022. The number of victims increased by 66% from 2022 to 2023, with 91% of those affected paying at least one ransom. 58% of organisations have been targeted six times or more.
The Sophos State of Ransomware 2023 report highlighted ransom payments rose by 500%; nearly two-thirds exceeded $1m or more, with an average payment of $2m. Furthermore, 30% of the demands were for over $5m.
In the US, 18% of incidents led to litigation, with 123 lawsuits filed in 2023 and 355 over five years. Data breaches, affecting 283.3 million records, primarily triggered these lawsuits, especially in healthcare and finance sectors. The resolution rate is 59%, with the highest settlement at $8.7m. Regulatory fines added nearly $10m to the financial impact. These figures underscore the significant financial implications of ransomware attacks and the urgent need for robust cyber security measures.
Sources: [ZD Net] [Infosecurity Magazine] [Security Magazine] [PrNewsWire] [Infosecurity Magazine]
BEC and Fund Transfer Fraud Top Insurance Claims
Cyber Insurer Coalition's 2024 Cyber Claims Report highlights a significant trend in cyber security threats, identifying email-based fraud as the predominant cause of insurance claims in 2023, accounting for 53% of all claims. Business email compromise (BEC) and funds transfer fraud (FTF) topped the list, contributing to 28% of claims and increasing claim amounts by 24% to an average loss exceeding $278,000. In contrast, ransomware, while less frequent at 19% of claims, also saw a rise in both frequency and severity, with average losses climbing to over $263,000. The report also notes a 13% year-on-year surge in overall claims, with substantial losses tied to compromised network security devices and a notable vulnerability in organisations using exposed remote desktop protocols.
Source: [Infosecurity Magazine]
Correlating Cyber Investments with Business Outcomes
The US Securities and Exchange Commission (SEC) has implemented stringent new rules compelling organisations to report significant cyber incidents within four days and to annually disclose details concerning their cyber security risk management, strategy, and governance. These mandates are seen as giving “more teeth to the idea that cyber security is a business problem” and “bringing an element of cyber security to the boardroom” according to cyber security solutions provider SecurityGate. Highlighted in the "Cybersecurity Insights" podcast, experts argue for simplifying cyber security strategies, advocating sustained resource allocation over reactive measures, and emphasising the importance of training over expensive solutions. These steps are deemed crucial for enhancing organisational resilience and security in a landscape where cyber threats are increasingly sophisticated and pervasive.
Source: [InfoRisk Today]
Verizon: Vulnerability Exploitation up 180%, 68% of Breaches involved Humans and Supply Chain Weak Link
Verizon has released the findings of its 17th Annual Data Breach Investigations Report, which showed security incidents doubled year over year in 2023 to a record high 30,458 security events and 10,626 confirmed breaches. Some of the key takeaways from the 100-page report include zero-day attacks on unpatched systems and devices rising 180% in 2023, most breaches (68%) involving a non-malicious human element and the median time for users to fall for phishing emails falling just south of 60 seconds. In its first inclusion as a separate metric, supply chain attacks were found to contribute to 15% of all attacks.
Sources: [MSSP Alert] [Verizon]
MOVEit & Change Healthcare Attacks Designated as Cyber Catastrophe Loss Events by Insurer
Verisk’s Property Claim Services (PCS) has recently identified the MOVEit and Change Healthcare cyber attacks as significant Cyber Catastrophe Loss Events. These designations are part of PCS’s Global Cyber solution, which tracks cyber incidents and their potential impact on the insurance market. The designation indicates that each attack is anticipated to result in insurance industry losses exceeding USD 250 million.
The MOVEit attack, linked to the Russian-affiliated group Cl0p, compromised over 2,700 organisations globally, affecting up to 90 million individuals. The Change Healthcare attack, attributed to the ALPHV/Blackcat gang, notably disrupted UnitedHealth Group’s operations, with projected costs and lost revenue totalling up to USD 1.6 billion. These designations highlight the escalating scale and financial impact of cyber incidents on global markets.
Source: [Reinsurance News]
Securing Your Organisation’s Supply Chain: Reducing the Risks of Third Parties
Nearly every organisation is part of a supply chain, where a significant amount of data is transferred. When data leaves your infrastructure, its security depends on the third party. The risks of a cyber incident increases as the supply chain increases.
Organisations need to mitigate the risks that their third party brings. This requires an understanding of the supply chain actors, and performing cyber security assessments of the most critical ones. The objective is to ensure that your organisation is satisfied with the third party’s security controls, or to work together to remediate any gaps.
Source: [Help Net Security]
Why Remote Desktop Tools are Facing an Onslaught of Cyber Threats
In the era of hybrid work, remote desktop tools have become crucial yet vulnerable points within corporate networks, attracting significant cyber criminal attention. A study by Barracuda Networks underscores the challenges of securing these tools. Virtual Network Computing (VNC) is particularly susceptible; it is targeted in 98% of these types of attacks due to its use of multiple, sometimes unsecured ports. VNC attacks predominantly exploit weak password practices, notably through brute force methods. Conversely, Remote Desktop Protocol (RDP) accounts for about 1.6% of these attacks but is favoured for more extensive network breaches, often involving ransomware or crypto mining. The study highlights a pressing need for robust endpoint management and heightened security measures to mitigate these threats.
Source: [ITPro]
95% of Organisations Revamped Cyber Security Strategies in the Last Year: Make Sure Yours is Right
A recent report found that 95% of companies have altered their cyber security strategies in the last twelve months. This was driven by keeping pace with the shifting regulatory landscape (98%), the need to meet customer expectations for data protection and privacy (89%), and the rise of AI-driven threats and solutions (65%). Almost half (44%) of non-security executives do not understand the regulatory requirements their organisation must adhere to.
When it came to reporting, the study found that security teams aren’t reporting on key operational metrics that define whether their security investments and strategy changes have a measurable impact. It is evident that there is a disconnect between security and non-security professionals when it comes to the business strategy.
Sources: [Business Wire] [Security Magazine]
Human Factor a Significant Risk for Small and Medium-Sized Businesses.
A survey of business and IT security in small and medium-sized businesses (SMBs) conducted by LastPass found that roughly one in five business leaders admits to circumventing security policies, as do one in 10 IT security leaders. The survey found that password management is critically important to cyber security, with nearly half (47%) reporting recent breaches due to compromised passwords.
Sources: [Beta News] [Business Wire]
Microsoft CEO Says it is Putting Security Above All Else in Major Refocus
Following a series of high-profile attacks in recent months and a report by the US Cyber Safety Review Board (CSRB), Microsoft’s CEO has revealed it will now focus its efforts on an increase in the commitment to security. Investigating a summer 2023 attack, Microsoft was deemed to have made a series of “avoidable errors”, including the failure to detect several compromises, the CSRB said.
Sources: [TechRadar]
Ending the Culture of Silence in Cyber Security; Three Ways to Empower Teams
A recent discussion on workplace errors highlights the significant repercussions of cyber breaches compared to typical office mistakes. In the UK, nearly a third of businesses face cyber attacks weekly, with each breach costing approximately £4,000. However, a concerning trend is that 41% of these breaches are not reported to internal leadership, often due to fears among staff about the consequences of admitting faults. A three-pronged approach has been suggested to foster a blame-free culture: providing tailored and evolving cyber training, establishing safe zones for admitting mistakes, and implementing robust recovery plans. This approach not only prepares employees to handle potential breaches more effectively but also encourages them to report incidents promptly, reducing the overall impact and aiding quicker recovery. Such strategies are essential for maintaining resilience against increasingly sophisticated cyber threats.
Source: [Minute Hack]
Governance, Risk and Compliance
Verizon 2024 Data Breach Investigations Report: 5 Takeaways | MSSP Alert
Verizon DBIR: Vulnerability exploitation in breaches up 180% | TechTarget
Verizon DBIR: Basic Security Gaffes Cause Breach Surge (darkreading.com)
95% of Organisations Revamped Their Cyber Security Strategies in the Last Year | Business Wire
95% of organisations adjusted cyber security strategies this past year | Security Magazine
1 in 5 US Ransomware Attacks Triggers Lawsuit - Infosecurity Magazine (infosecurity-magazine.com)
Are Enterprises Overconfident About Cyber Security Readiness? (govinfosecurity.com)
How CISOs Can Contend with Increasing Scrutiny from Regulators (informationweek.com)
Correlating Cyber Investments with Business Outcomes (inforisktoday.com)
Ending The Culture of Silence In Cyber Security – 3 Ways To Empower Teams - Minutehack
97% of security leaders have increased SaaS security budgets - Help Net Security
The rise in CISO job dissatisfaction – what’s wrong and how can it be fixed? | CSO Online
Should Cyber Security Leadership Finally be Professionalized? - SecurityWeek
What needs to change to overcome nonchalant security approaches | TechRadar
Agile by Design: Cyber Security at the Heart of Transformation (noeticcyber.com)
Threats
Ransomware, Extortion and Destructive Attacks
Q1 2024 Ransomware Report: 21% Increase in Q1 2023 Ransomware Activity (corvusinsurance.com)
91% of ransomware victims paid at least one ransom in the past year, survey finds | ZDNET
1 in 5 US Ransomware Attacks Triggers Lawsuit - Infosecurity Magazine (infosecurity-magazine.com)
There was an 81% year-over-year increase in ransomware attacks | Security Magazine
Ransom recovery costs reach $2.73 million - Help Net Security
Cactus Ransomware Group Targets Qlik Sense Servers | Decipher (duo.com)
How AI and data protection intersect in today's threat era - SiliconANGLE
Better hygiene may mitigate the need to ban ransomware payments | Computer Weekly
Ukrainian REvil Hacker Sentenced to 13 Years and Ordered to Pay $16 Million (thehackernews.com)
How Businesses Should Grapple With Ransomware Threats (eetimes.eu)
Cyber security consultant arrested after allegedly extorting IT firm (bleepingcomputer.com)
Ransomware Victims
Change Healthcare breached via Citrix portal with no MFA | TechTarget
Almost all US hospitals took financial hit from Change hack, AHA says | Reuters
Another major pharmacy chain shuts following possible cyber attack | TechRadar
Hack That Paralyzed US Health Care Turns Up Scrutiny on Insurer (claimsjournal.com)
Cyber attack to cost Western Isles Council half a million pounds (holyrood.com)
LockBit publishes confidential data stolen from Cannes hospital in France (therecord.media)
French hospital CHC-SV refuses to pay LockBit extortion demand (bleepingcomputer.com)
'Cybersecurity incident' closes London Drugs' pharmacies • The Register
Phishing & Email Based Attacks
AI-driven phishing attacks deceive even the most aware users - Help Net Security
US Post Office phishing sites get as much traffic as the real one (bleepingcomputer.com)
If you receive a Shein mystery box, do not open it | TechRadar
Why the automotive sector is a target for email-based cyber attacks - Help Net Security
BEC
BEC and Fund Transfer Fraud Top Insurance Claims - Infosecurity Magazine (infosecurity-magazine.com)
Other Social Engineering
FBI warns of fake verification schemes targeting dating app users (bleepingcomputer.com)
A Lot of People Are Falling for Those 'Your Package Cannot Be Delivered' Texts | PCMag
Artificial Intelligence
AI-driven phishing attacks deceive even the most aware users - Help Net Security
AI is creating a new generation of cyber attacks - Help Net Security
Combating the Rising Tide of AI-Driven Cyber Crime (cryptopolitan.com)
Businesses turn to generative AI but many don't have policies on it (betanews.com)
How AI and data protection intersect in today's threat era - SiliconANGLE
Understanding emerging AI and data privacy regulations - Help Net Security
To understand the risks posed by AI, follow the money – O’Reilly (oreilly.com)
From Risk to Resilience: Managing Data Security in AI-Driven Enterprises | Inc.com
Cyber security experts face AI risks, deepfakes, burnout | Fortune
US Government Releases New AI Security Guidelines for Critical Infrastructure (thehackernews.com)
Why Using Microsoft Copilot Could Amplify Existing Data Quality and Privacy Issues - SecurityWeek
2FA/MFA
Malware
New "Goldoon" Botnet Targets D-Link Routers With Decade-Old Flaw (thehackernews.com)
New SOHO router malware aims for cloud accounts, internal company resources - Help Net Security
Guarding the Gates: The Growing Abundance of Linux Malware - VMRay
Bogus npm Packages Used to Trick Software Developers into Installing Malware (thehackernews.com)
Millions of Malicious 'Imageless' Containers Planted on Docker Hub Over 5 Years (thehackernews.com)
ZLoader Malware Evolves with Anti-Analysis Trick from Zeus Banking Trojan (thehackernews.com)
New Cuttlefish malware infects routers to monitor traffic for credentials (bleepingcomputer.com)
Mobile
Powerful 'Brokewell' Android Trojan Allows Attackers to Takeover Devices - SecurityWeek
Google Prevented 2.28 Million Malicious Apps from Reaching Play Store in 2023 (thehackernews.com)
New Wpeeper Android malware hides behind hacked WordPress sites (bleepingcomputer.com)
Microsoft warns of "Dirty Stream" attack impacting Android apps (bleepingcomputer.com)
Denial of Service/DoS/DDOS
Internet of Things – IoT
NCSC: New UK law bans default passwords on smart devices (securityaffairs.com)
A glaring Android TV security flaw might put your Gmail at risk | Android Central
Data Breaches/Leaks
PSNI data breach: Almost 5,000 officers and staff in legal action - BBC News
Kaiser Permanente data breach may have impacted 13.4 million patients (securityaffairs.com)
FBCS data breach impacted 2M individuals (securityaffairs.com)
States shares health debt data of 5,000 in an email | Guernsey Press
Qantas app exposed sensitive traveller details to random users (bleepingcomputer.com)
Philadelphia Inquirer: Data of over 25,000 people stolen in 2023 breach (bleepingcomputer.com)
Australian pubgoers' personal info posted to leak site • The Register
Monash Health data breach exposes sexual assault and family violence claims (smh.com.au)
Panda Restaurant Group disclosed a data breach (securityaffairs.com)
Organised Crime & Criminal Actors
AI is creating a new generation of cyber attacks - Help Net Security
Combating the Rising Tide of AI-Driven Cyber Crime (cryptopolitan.com)
Router Roulette: Cyber Criminals and Nation-States Sharing Compromised Networks | Trend Micro (US)
Insider Risk and Insider Threats
How insider threats can cause serious security breaches - Help Net Security
Ex-NSA Employee Sentenced to 22 Years for Trying to Sell U.S. Secrets to Russia (thehackernews.com)
Insurance
Cyber facility in capacity raise as risk severity grows (emergingrisks.co.uk)
Hack That Paralyzed US Health Care Turns Up Scrutiny on Insurer (claimsjournal.com)
Supply Chain and Third Parties
Cloud/SaaS
New SOHO router malware aims for cloud accounts, internal company resources - Help Net Security
97% of security leaders have increased SaaS security budgets - Help Net Security
Encryption
UK's Investigatory Powers Bill approved to become law • The Register
Ten years of Heartbleed: Lessons learned | SC Media (scmagazine.com)
Linux and Open Source
Passwords, Credential Stuffing & Brute Force Attacks
Change Healthcare breached via Citrix portal with no MFA | TechTarget
Okta warns of "unprecedented" credential stuffing attacks on customers (bleepingcomputer.com)
NCSC: New UK law bans default passwords on smart devices (securityaffairs.com)
New Cuttlefish malware infects routers to monitor traffic for credentials (bleepingcomputer.com)
How to use a YubiKey to log into Windows and macOS (xda-developers.com)
Social Media
How TikTok Grew From a Fun App for Teens Into a Potential National Security Threat - SecurityWeek
Facebook at 20: Contemplating the Cost of Privacy (darkreading.com)
Training, Education and Awareness
Ending The Culture Of Silence In Cyber Security – 3 Ways To Empower Teams - Minutehack
Everyone's an Expert: How to Empower Your Employees for Cyber Security Success (thehackernews.com)
Regulations, Fines and Legislation
UK's Investigatory Powers Bill approved to become law • The Register
UK rolls out new consumer safeguards for smart devices (betanews.com)
FCC fines major wireless carriers over illegal location data sharing - Help Net Security
Understanding emerging AI and data privacy regulations - Help Net Security
CISA's incident reporting requirements go too far, trade groups and lawmakers say | CyberScoop
Data Protection
Careers, Working in Cyber and Information Security
Cyber security experts face AI risks, deepfakes, burnout | Fortune
The rise in CISO job dissatisfaction – what’s wrong and how can it be fixed? | CSO Online
Agencies to turn toward ‘skill-based hiring’ for cyber and tech jobs, ONCD says | CyberScoop
Cyber Security Degrees, Are They Really Worth It? | HackerNoon
Beyond the Buzz: Rethinking Alcohol as a Cyber Security Bonding Ritual - SecurityWeek
Law Enforcement Action and Take Downs
Ukrainian REvil Hacker Sentenced to 13 Years and Ordered to Pay $16 Million (thehackernews.com)
Police shuts down 12 fraud call centres, arrests 21 suspects (bleepingcomputer.com)
Cyber security consultant arrested after allegedly extorting IT firm (bleepingcomputer.com)
CEO who sold fake Cisco devices to US military gets 6 years in prison (bleepingcomputer.com)
Misinformation, Disinformation and Propaganda
Nation State Actors, Advanced Persistent Threats (APTs), Cyber Warfare, Cyber Espionage and Geopolitical Threats/Activity
Cyber Warfare and Cyber Espionage
Nation State Actors
China
‘Honeypots’ and influence operations: China’s spies turn to Europe (ft.com)
Philippines Pummelled by Cyber Attacks & Misinformation Tied to China (darkreading.com)
Germany grapples with wave of spying threats from Russia and China - BBC News
How TikTok Grew From a Fun App for Teens Into a Potential National Security Threat - SecurityWeek
Think tank: Tech companies spread China's propaganda • The Register
China's attacks on critical infrastructure ‘tip of the iceberg' | SC Media (scmagazine.com)
Chinese Hackers Have Been Probing DNS Networks Globally for Years: Report - SecurityWeek
Muddling Meerkat hackers manipulate DNS using China’s Great Firewall (bleepingcomputer.com)
Chinese government website security has big problems • The Register
Espionage breaches account for 25% in APAC, report reveals (securitybrief.co.nz)
Russia
Router Roulette: Cyber Criminals and Nation-States Sharing Compromised Networks | Trend Micro (US)
Russian Hackers Target Industrial Systems in North America, Europe - SecurityWeek
Pro-Russia hacktivists attacking vital tech in water and other sectors, agencies say | CyberScoop
Germany grapples with wave of spying threats from Russia and China - BBC News
Ukraine Targeted in Cyber Attack Exploiting 7-Year-Old Microsoft Office Flaw (thehackernews.com)
Germany Warns Of Consequences For Alleged Russian Cyber Attack (rferl.org)
Hackers Claim to Have Infiltrated Belarus’ Main Security Service - SecurityWeek
Military Tank Manual, 2017 Zero-Day Anchor Latest Ukraine Cyber Attack (darkreading.com)
Sweden prepares for Eurovision amidst fears of protests, cyber attacks and unrest | Euronews
Ex-NSA Employee Sentenced to 22 Years for Trying to Sell U.S. Secrets to Russia (thehackernews.com)
Two British men charged with helping Russian intelligence - BBC News
Two hackers in Ukraine accused of spreading Russian propaganda (therecord.media)
Iran
North Korea
Other Nation State Actors, Hacktivism, Extremism, Terrorism and Other Geopolitical Threat Intelligence
Vulnerability Management
When is One Vulnerability Scanner Not Enough? (thehackernews.com)
Vulnerability exploitation nearly tripled in 2023 (telecoms.com)
Vulnerabilities
Cisco devices again targeted by state-linked threat campaign - TechCentral.ie
Okta warns of "unprecedented" credential stuffing attacks on customers (bleepingcomputer.com)
1,200+ Vulnerabilities Detected In Microsoft Products In 2023 (gbhackers.com)
Most attacks affecting SMBs target five older vulnerabilities | CSO Online
Severe Flaws Disclosed in Brocade SANnav SAN Management Software (thehackernews.com)
UnitedHealth hackers took advantage of Citrix vulnerability to break in, CEO says (yahoo.com)
Palo Alto Updates Remediation for Max-Critical Firewall Bug (darkreading.com)
WordPress plugin vulnerability poses severe security risk, allows for site takeovers | TechSpot
Ukraine Targeted in Cyber Attack Exploiting 7-Year-Old Microsoft Office Flaw (thehackernews.com)
New R Programming Vulnerability Exposes Projects to Supply Chain Attacks (thehackernews.com)
Grafana Tool Vulnerability Let Attackers Inject SQL Queries (gbhackers.com)
Microsoft says April Windows updates break VPN connections (bleepingcomputer.com)
NTLM auth traffic spikes after Windows Server patch • The Register
New "Goldoon" Botnet Targets D-Link Routers With Decade-Old Flaw (thehackernews.com)
Four Critical Vulnerabilities Expose HPE Aruba Devices to RCE Attacks (thehackernews.com)
Ten years of Heartbleed: Lessons learned | SC Media (scmagazine.com)
1,400 GitLab Servers Impacted by Exploited Vulnerability - SecurityWeek
Tools and Controls
Why remote desktop tools are facing an onslaught of cyber threats | ITPro
Correlating Cyber Investments With Business Outcomes (inforisktoday.com)
When is One Vulnerability Scanner Not Enough? (thehackernews.com)
Microsoft CEO says it is "putting security above all else" in major refocus | TechRadar
Can automating security relieve CISO pressure? (techinformed.com)
10 Critical Endpoint Security Tips You Should Know (thehackernews.com)
Businesses turn to generative AI but many don't have policies on it (betanews.com)
Ending The Culture Of Silence In Cyber Security – 3 Ways To Empower Teams - Minutehack
Organisations Struggle with Zero Trust: Gartner | MSSP Alert
Tech Tip: Why Haven't You Set Up DMARC Yet? (darkreading.com)
97% of security leaders have increased SaaS security budgets - Help Net Security
DPRK's Kimsuky APT Abuses Weak DMARC Policies, Feds Warn (darkreading.com)
How to Red Team GenAI: Challenges, Best Practices, and Learnings (darkreading.com)
Chinese Hackers Have Been Probing DNS Networks Globally for Years: Report - SecurityWeek
Muddling Meerkat hackers manipulate DNS using China’s Great Firewall (bleepingcomputer.com)
Why LLMs are predicting the future of compliance and risk management | VentureBeat
Other News
Microsoft CEO says it is "putting security above all else" in major refocus | TechRadar
A Season Of Health Breaches, A Season Of Changes (forbes.com)
Bank of England tells payment firms to step up disruption mitigation plans (yahoo.com)
NCSC updates warning over hacktivist threat to CNI | Computer Weekly
The EU's Strategy for a Cyber Secure Digital Single Market | UpGuard
To Damage OT Systems, Hackers Tap USBs, Old Bugs & Malware (darkreading.com)
During National Small Business Week, Take Steps to Secure Your Business | CISA
At Microsoft, years of security debt come crashing down | Cybersecurity Dive
Sweden prepares for Eurovision amidst fears of protests, cyber attacks and unrest | Euronews
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 26 April 2024
Black Arrow Cyber Threat Intelligence Briefing 26 April 2024:
-Coalition Finds More Than Half of Cyber Insurance Claims Originate in the Email Inbox
-Unmasking the True Cost of Cyber Attacks: Beyond Ransom and Recovery
-Why Cyber Security Should Be Driving Your Enterprise Risk Management Strategy
-Ransomware Double-Dip - Re-Victimisation in Cyber Extortion
-AI is a Major Threat and Many Financial Organisations Are Not Doing Enough to Fight the Threat
-6 out of 10 Businesses Struggle to Manage Cyber Risk
-'Junk Gun' Ransomware: New Low-Cost Cyber Threat Targets SMBs
-Penetration Testing Infrequency Leaves Security Gaps
-Bank Prohibited from Opening New Accounts After Regulators Lose Patience With Poor Cyber Security Governance
-The Psychological Impact of Phishing Attacks on Your Employees
-Where Hackers Find Your Weak Spots
-The Role of Threat Intelligence in Financial Data Protection
-Government Cannot Protect Business and Services from Cyber Attack, Decision Makers Say
Welcome to this week’s Black Arrow Cyber Threat Briefing – a weekly digest, collated and curated by our cyber experts to provide senior and middle management with an easy to digest round up of the most notable threats, vulnerabilities, and cyber related news from the last week.
Top Cyber Stories of the Last Week
Coalition Finds More Than Half of Cyber Insurance Claims Originate in the Email Inbox
The 2024 Cyber Claims Report by insurer Coalition reveals critical vulnerabilities and trends affecting cyber insurance policyholders. Notably, over half of the claims in 2023 stemmed from funds transfer fraud (FTF) and business email compromise (BEC), underlining the critical role of email security in cyber risk management. The report also indicated heightened risks associated with boundary devices like firewalls and VPNs, particularly if they are exposed online and have known vulnerabilities. Additionally, the overall claims frequency and severity rose by 13% and 10% respectively, pushing the average loss to $100,000. These insights emphasise the necessity of proactive cyber security measures and the valuable role of cyber insurance in mitigating financial losses from cyber incidents.
Sources: [IT Security Guru] [Emerging Risks]
Unmasking the True Cost of Cyber Attacks: Beyond Ransom and Recovery
The global cost of cyber crime is expected to soar to $10.5 trillion annually by 2025, a steep rise from $3 trillion in 2015, underscoring a significant improvement in the methods of cyber criminals, according to Cybersecurity Ventures. Beyond direct financial losses like ransomware payments, the hidden costs of cyber attacks for businesses include severe operational disruptions, lost revenue, damaged reputations, strained customer relationships, and regulatory fines. These incidents, further exacerbated by increased insurance premiums, collectively contribute to substantial long-term financial burdens. The report indicates that 88% of data breaches are attributable to human error, underscoring the importance of comprehensive employee training alongside technological defences. To combat these evolving cyber threats effectively, organisations must adopt a multi-pronged strategy that includes advanced security technologies, regular system updates, employee education, and comprehensive security audits.
According to another report from SiliconAngle, cyber insurance claims increased 13% year-over-year in 2023, with the 10% rise in overall claims severity attributed to mounting ransomware attack claims.
Sources: [The Hacker News] [Huntress] [SC Media]
Why Cyber Security Should Be Driving Your Enterprise Risk Management Strategy
Cyber security has transformed from a secondary concern into the cornerstone of corporate risk management. The historical view of cyber security as merely a component of broader risk strategies is outdated; it now demands a central role in safeguarding against operational, financial, and reputational threats. Many businesses, recognising the vital role of technology in all operations, have begun elevating the position of Chief Information Security Officer (CISO) to integrate cyber security into their overall enterprise risk frameworks. This shift not only enhances visibility and strategic alignment at the highest organisational levels but also fosters more robust defences against cyber threats. As such, adopting a cyber security-centric approach is crucial for compliance and long-term resilience in the face of growing digital threats.
Source: [Forbes]
Ransomware Double-Dip: Re-Victimisation in Cyber Extortion
A recent cyber security study reveals a troubling trend of re-victimisation among organisations hit by cyber extortion or ransomware attacks. Analysis of over 11,000 affected organisations shows recurring victimisation due to repeated attacks, data reuse among criminal affiliates, or cross-affiliate data sharing. Notably, cyber extortion incidents have surged by 51% year-on-year. Additionally, a separate study reports payments exceeding $1 billion and a 20% increase in ransomware attack victims since early 2023. These findings underscore the increasing sophistication and persistence of cyber criminals. Despite law enforcement efforts, adaptable cyber crime groups swiftly resume operations, complicating effective threat mitigation. Organisations must enhance their cyber security measures to avoid becoming repeated targets.
Sources: [Security Magazine] [The Hacker News] [SC Media]
AI is a Major Threat and Many Financial Organisations Are Not Doing Enough
Artificial intelligence (AI) is a major concern for organisations, especially for the financial services sector due to the information they hold. Recent reports have found that AI has driven phishing up by 60% and AI tools have been linked to data exposure in 1 in 5 UK organisations. But it is not just attackers utilising AI: a separate report found that 20% of employees have exposed data via AI.
Currently, many financial organisations are not doing enough to secure themselves to fight AI. In a recent survey, 69% of fraud-management decision makers, AML professionals, and risk and compliance leaders reported that criminals are more advanced at using AI for financial crime than firms are in defending against it.
Sources: [Verdict] [Beta News] [Infosecurity Magazine] [TechRadar] [Security Brief]
6 out of 10 Businesses Struggle to Manage Cyber Risk
A report has found that 6 in 10 businesses are struggling to manage their cyber risk and just 43% have confidence in their ability to address cyber risk. Further, 35% of total respondents worry that senior management does not see cyber attacks as a significant risk; the same percentage also reported a struggle in hiring skilled professionals. When it came to implementing their security policy, half of respondents found difficulty, and when it came to securing the supply chain, a third reported worries.
Given the inevitability of a cyber attack, organisations need to prepare themselves. Those that struggle to manage their cyber risk and/or hire skilled professions will benefit from outsourcing to skilled, reputable cyber security organisations who can guide them through the process.
Sources: [PR Newswire] [Beta News]
'Junk Gun' Ransomware: New Low-Cost Cyber Threat Targets SMBs
Sophos’ research reveals a concerning trend: ‘junk gun’ ransomware variants are now traded on the dark web. Rather than going the traditional route of selling or buying ransomware to or as an affiliate, attackers have now begun creating and selling unsophisticated ransomware variants for a one-time cost. Priced at a median of $375, they attract lower-skilled attackers, especially those targeting small and medium-sized businesses (SMBs). As major ransomware players fade, these variants pose significant threats, accounting for over 75% of cyber incidents affecting SMBs in 2023.
Source: [Security Brief] [Tripwire]
Penetration Testing Infrequency Leaves Security Gaps
Many organisations are struggling to maintain the balance between penetration testing and IT changes within the organisation, leaving security gaps according to a recent report. The report found that 73% of organisations reported changes to their IT environments at least quarterly, however only 40% performed penetration testing at the same frequency.
The issue arises where there is a significant duration during which changes have been implemented without undergoing assessment, leaving organisations open to risk for extended periods of time. Consider the situation in which an organisation moves their infrastructure from on-premise to the cloud: they now have a different IT environment, and with that, new risks.
Black Arrow always recommends that a robust penetration test should be conducted whenever changes to internet facing infrastructure have been made, and at least annually.
Source: [MSSP Alert]
Bank Prohibited from Opening New Accounts After Regulators Lose Patience with Poor Cyber Security Governance
A bank in India has been banned from signing up new customers, and instructed to focus on improving its cyber security after “serious deficiencies and non-compliances” were found within their IT environment. The compliances provided by the bank were described as “inadequate, incorrect or not sustained”. The bank is now subject to an external audit, which if passed, will consider the lifting of the restrictions placed upon them.
Source: [The Register]
The Psychological Impact of Phishing Attacks on Your Employees
Phishing remains one of the most prevalent attack vectors for bad actors, and its psychological impact on employees can be severe, with many employees facing a loss in confidence and job satisfaction as well as an increase in anxiety. In a study by Egress, it was found that 74% of employees were disciplined, dismissed or left voluntarily after suffering a phishing incident, which can cause hesitation when it comes to reporting phishing.
Phishing incidents and simulations where employees have clicked should be seen as an opportunity to learn, not to blame, and to understand why a phish was successful and what can be done in future to prevent it. Organisations should perform security education and awareness training to help employees lessen their chance of falling victim, as well as knowing the reporting procedures.
Source: [Beta News]
Where Hackers Find Your Weak Spots
A recent analysis highlights social engineering as a primary vector for cyber attacks, emphasising its reliance on meticulously gathered intelligence to exploit organisational vulnerabilities. Attackers leverage various intelligence sources; Open Source Intelligence (OSINT) for public data, Social Media Intelligence (SOCMINT) for social media insights, Advertising Intelligence (ADINT) from advertising data, Dark Web Intelligence (DARKINT) from the DarkWeb, and the emerging AI Intelligence (AI-INT) using artificial intelligence. These methods equip cyber criminals with detailed knowledge about potential victims, enabling targeted and effective attacks. The report underscores the critical importance of robust information management and employee training to mitigate such threats, specifically advocating for regular training, AI-use policies, and proactive intelligence gathering by organisations to protect against the substantial risks posed by social engineering.
Source: [Dark Reading]
The Role of Threat Intelligence in Financial Data Protection
The financial industry’s reliance on digital processes has made it vulnerable to cyber attacks. Criminals target sensitive customer data, leading to financial losses, regulatory fines, and reputational damage. To combat these threats such as phishing, malware, ransomware, and social engineering, financial institutions must prioritise robust cyber security measures. One effective approach is threat intelligence, which involves ingesting reliable threat data, customised to your sector and the technology you have in place, and dark web monitoring.
Source: [Security Boulevard]
Government Cannot Protect Business and Services from Cyber Attack, Decision Makers Say
According to a recent report, 66% of surveyed IT leaders expressed a lack of confidence in their government’s ability to defend people and enterprises from cyber attacks, especially those from nation state actors. This scepticism arises from the growing complexity of threats and the rapid evolution of cyber warfare. While governments play a critical role in national security, their agility in adapting to the ever-changing digital landscape leaves organisations finding themselves increasingly responsible for their own protection.
Source: [TechRadar] [Security Magazine]
Governance, Risk and Compliance
Ransomware triggers cyber insurance claims increase | SC Media (scmagazine.com)
Six out of 10 businesses struggle to manage cyber risk (betanews.com)
Email inbox cyber crime leaps as claims soar (emergingrisks.co.uk)
It Costs How Much?!? The Financial Pitfalls of Cyber Attacks on SMBs | Huntress
Why Cyber Security Should Be Driving Your Enterprise Risk Management Strategy (forbes.com)
Cyber attacks are on the rise, and that includes small businesses. Here's what to know | AP News
Cyber staff priority as threats continue – report (emergingrisks.co.uk)
UK government cannot protect businesses and services from cyber attacks, IT pros say | TechRadar
Why cyber attacks shouldn’t be viewed as isolated incidents - Raconteur
Bank banned from opening new accounts over IT risks • The Register
Battening down the hatches: Navigating third-party cyber threats | SC Media (scmagazine.com)
Cyber Attacks Keep Rising. Here's What Small Businesses Need to Know | Inc.com
73% of SME security pros missed or ignored critical alerts - Help Net Security
Unmasking the True Cost of Cyber Attacks: Beyond Ransom and Recovery (thehackernews.com)
4 steps CISOs can take to raise trust in their business | TechTarget
NCSC Says Newer Threats Need Network Defence Strategy | Trend Micro (US)
Uncertainty is the most common driver of noncompliance - Help Net Security
Threats
Ransomware, Extortion and Destructive Attacks
Ransomware triggers cyber insurance claims increase | SC Media (scmagazine.com)
Report finds a near 20% increase in ransomware victims year-over-year | Security Magazine
Ransomware Double-Dip: Re-Victimization in Cyber Extortion (thehackernews.com)
'Junk gun' ransomware: New low-cost cyber threat targets SMBs (securitybrief.co.nz)
Mandiant: Attacker dwell time down, ransomware up in 2023 | TechTarget
Behavioural patterns of ransomware groups are changing - Help Net Security
Record ransomware attacks in March 2024, report finds (securitybrief.co.nz)
Ransomware payments drop to record low of 28% in Q1 2024 (bleepingcomputer.com)
Hackers use developing countries as testing ground for new ransomware attacks (ft.com)
Ransomware Still On Rise Despite Better Defences, Firm Says - Law360
Hackers are using developing countries for ransomware practice | Ars Technica
Dark web inundated by cheap ransomware tools | SC Media (scmagazine.com)
Unmasking the True Cost of Cyber Attacks: Beyond Ransom and Recovery (thehackernews.com)
Action needed amid escalating ransomware attacks, record-high payments | SC Media (scmagazine.com)
HelloKitty ransomware rebrands, releases CD Projekt and Cisco data (bleepingcomputer.com)
Rising Ransomware Issue: English-Speaking Western Affiliates (govinfosecurity.com)
CL0P ransomware gang is on the rise | Hogan Lovells - JDSupra
Proportion paying ransoms declines in Q1 2024, even as takings break a new record (computing.co.uk)
Megazord Ransomware Attacking Healthcare & Govt Entities (cybersecuritynews.com)
CISA ransomware warning program set to fully launch by end of 2024 | CyberScoop
Cyber Hygiene Helps Organisations Mitigate Ransomware-Related Vulnerabilities | CISA
Ransomware attacks rise in global food & agriculture sector (securitybrief.co.nz)
Ransomware Victims
Hackers Were in Change Healthcare 9 Days Before Attack (pymnts.com)
UnitedHealth BlackCat Attack Cost is $872M in Q1 | MSSP Alert
UnitedHealth admits breach could affect large chunk of US • The Register
Back from the Brink: UnitedHealth Offers Sobering Post-Attack Update (darkreading.com)
UnitedHealth Paid Ransom to Protect Patient Data | MSSP Alert
UNDP, City of Copenhagen Targeted in Data-Extortion Cyber Attack (darkreading.com)
Cannes Hospital Cancels Medical Procedures Following Cyber Attack - Security Week
Small medical practices will close because of Change cyber attack, says AMA | Healthcare IT News
HelloKitty ransomware rebrands, releases CD Projekt and Cisco data (bleepingcomputer.com)
Sweden's liquor shelves to run empty this week due to ransomware attack (therecord.media)
Authentication failure blamed for Change Healthcare ransomware attack | CSO Online
Ransomware feared as Octapharma Plasma closes 150+ centers • The Register
Red Ransomware takes credit for Targus attack | SC Media (scmagazine.com)
Ransomware Gang Leaks Data Allegedly Stolen From Government Contractor - Security Week
Carpetright unable to trade after cyber attack - Retail Gazette
Street lights in Leicester City cannot be turned off due to a cyber attack (securityaffairs.com)
Phishing & Email Based Attacks
The psychological impact of phishing attacks on your employees (betanews.com)
Hackers Create Legit Phishing Links With Ghost GitHub, GitLab Comments (darkreading.com)
Authorities investigate LabHost users after phishing service shut down | SC Media (scmagazine.com)
LA County Health Services: Patients' data exposed in phishing attack (bleepingcomputer.com)
BEC
Other Social Engineering
LastPass Users Lose Master Passwords to Ultra-Convincing Scam (darkreading.com)
Open Source Groups Warn of Social Engineering Backdoors | MSSP Alert
Artificial Intelligence
AI is a major threat and financial organisations are not doing enough to fight it | Biometric Update
Fifth of CISOs Admit Staff Leaked Data Via GenAI - Infosecurity Magazine (infosecurity-magazine.com)
Five Eyes agencies publish report on AI security | Hogan Lovells - JDSupra
AI tools linked to data exposure in 1 in 5 UK organisations (securitybrief.co.nz)
CSOs say AI is 'biggest cyber threat' to organisations | TechRadar
Man arrested for 'framing colleague' with AI-generated voice • The Register
Microsoft Warns: North Korean Hackers Turn to AI-Fueled Cyber Espionage (thehackernews.com)
People doubt their own ability to spot AI-generated deepfakes - Help Net Security
A National Security Insider Does the Math on the Dangers of AI | WIRED
40% of organisations have AI policies for critical infrastructure | Security Magazine
GPT-4 can exploit real vulnerabilities by reading advisories • The Register
25 cyber security AI stats you should know - Help Net Security
Cyber Threats in the Age of AI: Protecting Your Digital DNA - Security Boulevard
6 security items that should be in every AI acceptable use policy | CSO Online
'Poisoned' data could wreck AIs in wartime, warns Army software acquisition chief - Breaking Defence
The use of AI in war games could change military strategy (theconversation.com)
2FA/MFA
Strengths & Weaknesses of MFA Methods Against Cyber Attacks | Duo Security
What is multi-factor authentication (MFA), and why is it important? - Help Net Security
Malware
ToddyCat APT Is Stealing Data on 'Industrial Scale' (darkreading.com)
Report says over 10 million devices were infected by data-stealing malware in 2023 - PhoneArena
New Brokewell malware takes over Android devices, steals data (bleepingcomputer.com)
GitLab affected by GitHub-style CDN flaw allowing malware hosting (bleepingcomputer.com)
Microsoft unmasks Russia-linked ‘GooseEgg’ malware (therecord.media)
Hackers hijack antivirus updates to drop GuptiMiner malware (bleepingcomputer.com)
eScan Antivirus Update Mechanism Exploited to Spread Backdoors and Miners (thehackernews.com)
Beware! Notorious Samurai Stealer Used in Targeted Attacks (cybersecuritynews.com)
Threat Actor Uses Multiple Infostealers in Global Campaign - Security Week
Seedworm Hackers Exploit RMM Tools to Deliver Malware (cybersecuritynews.com)
Antivirus updates hijacked to drop dangerous malware | TechRadar
Hackers infect users of antivirus service that delivered updates over HTTP | Ars Technica
Researchers sinkhole PlugX malware server with 2.5 million unique IPs (bleepingcomputer.com)
Millions of IPs remain infected by USB worm years after its creators left it for dead | Ars Technica
North Korea's Lazarus Group Deploys New Kaolin RAT via Fake Job Lures (thehackernews.com)
Mobile
Report says over 10 million devices were infected by data-stealing malware in 2023 - PhoneArena
Ukrainian soldiers’ apps increasingly targeted for spying, cyber agency warns (therecord.media)
iPhone password reset attacks are real – how to protect yourself | Mashable
New Brokewell malware takes over Android devices, steals data (bleepingcomputer.com)
Godfather Banking Trojan Spawns 1.2K Samples Across 57 Countries (darkreading.com)
Give Your iPhone a Security Boost With This iOS 17.4 Feature - CNET
Data Breaches/Leaks
5.3M World-Check records may be leaked; how to check your records | SC Media (scmagazine.com)
Hackers stole 7,000,000 people's DNA. But what can they do with it? | Tech News | Metro News
AT&T Offers All Customers Free Security Bundle After Data Breach (tech.co)
App bug exposes 1M neighbourhood watchers to data harvesters • The Register
Fifth of CISOs Admit Staff Leaked Data Via GenAI - Infosecurity Magazine (infosecurity-magazine.com)
Organised Crime & Criminal Actors
Rising Ransomware Issue: English-Speaking Western Affiliates (govinfosecurity.com)
Russian FSB Counterintelligence Chief Gets 9 Years in Cyber Crime Bribery Scheme – Krebs on Security
Authorities investigate LabHost users after phishing service shut down | SC Media (scmagazine.com)
To Catch a Cyber Criminal -- and the Fallout That Follows (informationweek.com)
Cryptocurrency/Cryptomining/Cryptojacking/NFTs/Blockchain
eScan Antivirus Update Mechanism Exploited to Spread Backdoors and Miners (thehackernews.com)
Lazarus On the Hunt: How North Korean Hackers are Targeting Crypto via LinkedIn (bitcoinist.com)
Insider Risk and Insider Threats
Most people still rely on memory or pen and paper for password management - Help Net Security
CesiumAstro claims former exec spilled trade secrets to upstart competitor AnySignal | TechCrunch
Insurance
Ransomware triggers cyber insurance claims increase | SC Media (scmagazine.com)
Email inbox cyber crime leaps as claims soar (emergingrisks.co.uk)
Coalition: Insurance claims for Cisco ASA users spiked in 2023 | TechTarget
Supply Chain and Third Parties
Battening down the hatches: Navigating third-party cyber threats | SC Media (scmagazine.com)
Ransomware Gang Leaks Data Allegedly Stolen From Government Contractor - Security Week
Cloud/SaaS
How Attackers Can Own a Business Without Touching the Endpoint (thehackernews.com)
5 Hard Truths About the State of Cloud Security 2024 (darkreading.com)
Identity and Access Management
How Attackers Can Own a Business Without Touching the Endpoint (thehackernews.com)
Identity-based security threats are growing rapidly: report | CSO Online
Encryption
Europol asks tech firms, governments to get rid of E2EE • The Register
How tech firms are tackling the risks of quantum computing | World Economic Forum (weforum.org)
Australian authorities call for Big Tech help with decryption • The Register
Linux and Open Source
Passwords, Credential Stuffing & Brute Force Attacks
Most people still rely on memory or pen and paper for password management - Help Net Security
New Password Cracking Analysis Targets Bcrypt - Security Week
Brute Force Password Cracking Takes Longer - Don't Celebrate Yet (technewsworld.com)
Social Media
Dutch govt body: Don't use Facebook if unsure about privacy • The Register
North Korea's Lazarus Group Deploys New Kaolin RAT via Fake Job Lures (thehackernews.com)
Malvertising
Training, Education and Awareness
Regulations, Fines and Legislation
Preparing for NIS2: A Compliance Guide For Covered Entities | UpGuard
NIS2: Preparing for EU’s New Cyber Security Rules | Wilson Sonsini Goodrich & Rosati – JDSupra
Compliance in 2024: Cutting through the noise (federalnewsnetwork.com)
Google Postpones Third-Party Cookie Deprecation Amid UK Regulatory Scrutiny (thehackernews.com)
A view from Brussels: To be sovereign, or not to be (iapp.org)
Cyber Security | UK Regulatory Outlook April 2024 - Lexology
Net neutrality has been restored in the US - Help Net Security
Models, Frameworks and Standards
Fortifying your business with ISO 27001 - DCD (datacenterdynamics.com)
Preparing for NIS2: A Compliance Guide For Covered Entities | UpGuard
Taking Time to Understand NIS2 Reporting Requirements - Security Boulevard
Data Protection
Boost your data protection with insights from Dell's report - SiliconANGLE
A view from Brussels: To be sovereign, or not to be (iapp.org)
Careers, Working in Cyber and Information Security
Cyber staff priority as threats continue – report (emergingrisks.co.uk)
Three Ways Organisations Can Overcome the Cyber Security Skills Gap - Security Boulevard
Addressing the cyber skills shortage: 5 key steps to take | CSO Online
Five Essential Steps To Land Your First Cyber Security Job (forbes.com)
Expert Insight: Outdated Recruitment Methods Are Impeding The Global Cyber Army - IT Security Guru
Law Enforcement Action and Take Downs
Authorities investigate LabHost users after phishing service shut down | SC Media (scmagazine.com)
To Catch a Cyber Criminal -- and the Fallout That Follows (informationweek.com)
Man arrested for 'framing colleague' with AI-generated voice • The Register
Misinformation, Disinformation and Propaganda
Nation State Actors, Advanced Persistent Threats (APTs), Cyber Warfare, Cyber Espionage and Geopolitical Threats/Activity
Cyber Warfare and Cyber Espionage
State-Sponsored Hackers Exploit Two Cisco Zero-Day Vulnerabilities for Espionage (thehackernews.com)
China
ToddyCat APT Is Stealing Data on 'Industrial Scale' (darkreading.com)
Chinese, Russian espionage campaigns increasingly targeting edge devices (therecord.media)
UK mulls fresh controls on 'sensitive tech' after China cyber claim (thenextweb.com)
FBI Director Wray Issues Dire Warning on China's Cyber Security Threat (darkreading.com)
Head of Belgian Foreign Affairs Committee says she was hacked by China | Reuters
New tool used in China-linked attacks against Asia-Pacific | SC Media (scmagazine.com)
Dutch intelligence warns of stronger threats from China, jihadists and extremists | NL Times
MITRE breached by nation-state threat actor via Ivanti zero-days - Help Net Security
Ads on .gov.uk websites raise eyebrows over privacy • The Register
Russia
Microsoft: APT28 hackers exploit Windows flaw reported by NSA (bleepingcomputer.com)
Microsoft issues warning over ‘GooseEgg’ tool used in Russian hacking campaigns | ITPro
Chinese, Russian espionage campaigns increasingly targeting edge devices (therecord.media)
Russia's Fancy Bear Pummels Windows Print Spooler Bug (darkreading.com)
Overflowing Water Tank Linked to Russian Cyber Attack (govtech.com)
Russia accused of jamming GPS signal on flights from UK causing route chaos (inews.co.uk)
Russian Sandworm hackers targeted 20 critical orgs in Ukraine (bleepingcomputer.com)
Russian FSB Counterintelligence Chief Gets 9 Years in Cyber Crime Bribery Scheme – Krebs on Security
Campaigns and political parties are in the crosshairs of election meddlers | CyberScoop
Mandiant: Russia, Iran pose biggest threat to 2024 elections • The Register
Ukrainian soldiers’ apps increasingly targeted for spying, cyber agency warns (therecord.media)
MITRE breached by nation-state threat actor via Ivanti zero-days - Help Net Security
Ukraine participates in NATO cyber security exercise in Estonia / The New Voice of Ukraine (nv.ua)
Cyber attacks on Poland surged after election of pro-Ukraine regime (thenextweb.com)
Iran
Campaigns and political parties are in the crosshairs of election meddlers | CyberScoop
Mandiant: Russia, Iran pose biggest threat to 2024 elections • The Register
Iranian nationals charged with hacking US companies, Treasury and State departments | CyberScoop
The Biggest 2024 Elections Threat: Kitchen-Sink Attack Chains (darkreading.com)
North Korea
Hackers hijack antivirus updates to drop GuptiMiner malware (bleepingcomputer.com)
Microsoft Warns: North Korean Hackers Turn to AI-Fuelled Cyber Espionage (thehackernews.com)
North Korea's Lazarus Group Deploys New Kaolin RAT via Fake Job Lures (thehackernews.com)
Other Nation State Actors, Hacktivism, Extremism, Terrorism and Other Geopolitical Threat Intelligence
Vulnerability Management
Third-Party Software Patching: Your Cyber Armor in 2024 | MSSP Alert
Automated patch management: 9 best practices for success | TechTarget
Vulnerabilities Versus Intentionally Malicious Software Components - The New Stack
GPT-4 can exploit real vulnerabilities by reading advisories • The Register
CISA ransomware warning program set to fully launch by end of 2024 | CyberScoop
Vulnerabilities
22,500 Palo Alto firewalls "possibly vulnerable" to ongoing attacks (bleepingcomputer.com)
Palo Alto Networks Discloses More Details on Critical PAN-OS Flaw Under Attack (thehackernews.com)
Russia's Fancy Bear Pummels Windows Print Spooler Bug (darkreading.com)
'MagicDot' Windows Weakness Allows Unprivileged Rootkit Activity (darkreading.com)
Microsoft: APT28 hackers exploit Windows flaw reported by NSA (bleepingcomputer.com)
MITRE says state hackers breached its network via Ivanti zero-days (bleepingcomputer.com)
GitLab affected by GitHub-style CDN flaw allowing malware hosting (bleepingcomputer.com)
Google Patches Critical Chrome Vulnerability - Security Week
Microsoft releases Exchange hotfixes for security update issues (bleepingcomputer.com)
PoC Exploit Released For Critical Oracle VirtualBox Vulnerability (gbhackers.com)
Critical Forminator plugin flaw impacts over 300k WordPress sites (bleepingcomputer.com)
Major Security Flaw in Popular Keyboard Apps Puts Millions at Risk (cybersecuritynews.com)
Patch Now: CrushFTP Zero-Day Cloud Exploit Targets US Orgs (darkreading.com)
GitHub vulnerability leaks sensitive security reports | TechTarget
New Password Cracking Analysis Targets Bcrypt - Security Week
Maximum severity Flowmon bug has a public exploit, patch now (bleepingcomputer.com)
Tools and Controls
Seedworm Hackers Exploit RMM Tools to Deliver Malware (cybersecuritynews.com)
Third-Party Software Patching: Your Cyber Armour in 2024 | MSSP Alert
The Role of Threat Intelligence in Financial Data Protection - Security Boulevard
Automated patch management: 9 best practices for success | TechTarget
Rethinking How You Work with Detection and Response Metrics (darkreading.com)
Choosing SOC Tools? Read This First [2024 Guide] - Security Boulevard
Research Shows How Attackers Can Abuse EDR Security Products - SecurityWeek
What is multi-factor authentication (MFA), and why is it important? - Help Net Security
Strengths & Weaknesses of MFA Methods Against Cyber Attacks | Duo Security
Zero Trust Takes Over: 63% of Orgs Implementing Globally (darkreading.com)
5 Hard Truths About the State of Cloud Security 2024 (darkreading.com)
Explore CASB use cases before you decide to buy | TechTarget
SD-WAN: Don't Build a Dead End, Prepare for Future-Proof Secure Networking - SecurityWeek
Identity-based security threats are growing rapidly: report | CSO Online
Microsoft criticized for charging for security add-ons • The Register
5 insights from new Microsoft CNAPP guide | Microsoft Security Blog
The Peril of Badly Secured Network Edge Devices (inforisktoday.com)
VPNs, Firewalls' Nonexistent Telemetry Lures APTs (darkreading.com)
The first steps of establishing your cloud security strategy - Help Net Security
40% of organizations have AI policies for critical infrastructure | Security Magazine
Understand the Benefits and Limitations of Automated Tools in Penetration Testing (prweb.com)
World´s most advanced cyber defence exercise kicks off in Tallinn
CISA ransomware warning program set to fully launch by end of 2024 | CyberScoop
Reports Published in the Last Week
Mandiant's M-Trends Report Reveals New Insights from Frontline Cyber Investigations (prnewswire.com)
Boost your data protection with insights from Dell's report - SiliconANGLE
Rising Cyber Threats Pose Serious Concerns for Financial Stability (imf.org)
Cyber Security in the UK - House of Commons Library (parliament.uk)
Other News
Why Educating HR Professionals on Cyber Risk Is Crucial (thehrdirector.com)
Network Threats: A Step-by-Step Attack Demonstration (thehackernews.com)
UK cyber agency NCSC announces Richard Horne as its next chief executive (therecord.media)
Internet cable at Cali airport cut in apparent sabotage • The Register
EU Statement – UN General Assembly 1st Committee: Cyber Security | EEAS (europa.eu)
Why Tourists Are Particularly Vulnerable To Cyber Attacks (maltatoday.com.mt)
AI Is Going Well For Microsoft, But Cyber Security Is Not - Microsoft (NASDAQ:MSFT) - Benzinga
Questions for IT and cyber leaders from the CSRB Microsoft report | Computer Weekly
World´s most advanced cyber defence exercise kicks off in Tallinn
Why Cyber Security Is Key To Solving Global Crises (forbes.com)
Colleges spending more than ever on cyber security efforts (insidehighered.com)
Foreign states targeting UK universities, MI5 warns - BBC News
Cyber resilience in the public sector: lessons for UK Councils (techinformed.com)
Digital Blitzkrieg: Unveiling Cyber Logistics Warfare (darkreading.com)
Sector Specific
Industry specific threat intelligence reports are available.
Contact us to receive tailored reports specific to the industry/sector and geographies you operate in.
· Automotive
· Construction
· Critical National Infrastructure (CNI)
· Defence & Space
· Education & Academia
· Energy & Utilities
· Estate Agencies
· Financial Services
· FinTech
· Food & Agriculture
· Gaming & Gambling
· Government & Public Sector (including Law Enforcement)
· Health/Medical/Pharma
· Hotels & Hospitality
· Insurance
· Legal
· Manufacturing
· Maritime
· Oil, Gas & Mining
· OT, ICS, IIoT, SCADA & Cyber-Physical Systems
· Retail & eCommerce
· Small and Medium Sized Businesses (SMBs)
· Startups
· Telecoms
· Third Sector & Charities
· Transport & Aviation
· Web3
As usual, contact us to help assess where your risks lie and to ensure you are doing all you can do to keep you and your business secure.
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Black Arrow Cyber Threat Briefing 22 March 2024
Black Arrow Cyber Threat Intelligence Briefing 22 March 2024:
-UK’s Cyber Resilience Stagnates as More Fall Victim to Attacks, 75% of UK Businesses & 79% of UK Charities Experienced a Cyber Incident in 2023
-1% of Users are Responsible for 88% of Data Loss Events
-Microsoft Report Says 87% of UK organisations are vulnerable to cyber attacks in the age of AI
-Cyber Naivety Leaves 4 out of 5 Businesses Wide Open and Only 1 in 5 Has a Plan
-Risk and Regulation: Preparing for the Era of Cyber Security Compliance
-Ransomware Attacks Jump 73% Within a Year
-The New CISO - Rethinking the Role
-90% of Attacks Involve Data or Credential Theft, SMBs Primary Target
-Chief Risk Officers Say Cyber Security is Most Pressing Risk
-Humans Still Cyber Security’s Weakest Link, Cyber Security Training Equips Your Workforce to Spot Threats
-Most IT Pros Think Cyber Attacks are Getting Worse, and Many Firms Don’t Know How to Deal with Them
-Supply Chain Cyber Attacks Create Weak Spots, You Need to Prepare
-Ransomware Attack on Change Healthcare Pegged as “Most Significant” in Sector History
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’s Cyber Resilience Stagnates as More Fall Victim to Attacks, 75% of UK Businesses & 79% of UK Charities Experienced a Cyber Incident in 2023
The UK Government’s Joint Committee on the National Security Strategy (JCNSS) has published its response to a ransomware enquiry with stark conclusions, stating that there is a lot to be done to truly tackle the threat posed by ransomware. The chair of the JCNSS said that the UK is and will remain exposed and unprepared if it continues to take a “head in the sand” attitude to ransomware. The minister for artificial intelligence (AI) called upon organisations to “step up their cyber security plans to guard against threats, protect their customers and workforce, and our wider economy.” This comes as the Government’s Cyber Security Longitudinal Survey (CSLS) found that three-quarters of UK businesses and 79% of UK charities experienced a cyber security incident in the last 12 months.
Despite progress, there's a pressing need for organisations to shift from viewing cyber security as solely an IT concern to recognising its integral role across all business functions, particularly in the face of escalating cyber threats. With only half of UK board members having had security training, only a quarter of businesses assessing suppliers for possible security risks, and a fifth of UK boards failing to discuss cyber security even once, the time to improve UK businesses is now.
Sources: [Emerging Risks Media Ltd] [CITY A.M.] [Verdict] [Computer Weekly]
1% of Users are Responsible for 88% of Data Loss Events
New research has shown that that 85% of organisations experienced a data loss in the past year, with 9 out of 10 of those facing a negative outcome such as business disruption, revenue loss and reputational damage. The research found that 1% of users were responsible for 88% of events. It is important to understand this is not always intentionally malicious; it can be accidental or negligent. The research found for example, that 87% of anomalous file exfiltration among cloud tenants over a nine-month period was caused by departing employees, underscoring the need for preventative strategies such as implementing a security review process for this user category.
With as little as 1% of users causing most alerts, organisations need to monitor their most sensitive data and who can access it. This should also include data loss prevention features, to further reduce the risk.
Source: [Help Net Security]
Microsoft Report Says 87% of UK Organisations are Vulnerable to Cyber Attacks in the Age of AI
New research conducted by Microsoft has found that 87% of UK Businesses are unprepared for the age of AI due to their vulnerability to cyber attacks, leaving a mere 13% considered resilient. Further, Microsoft stated that 39% of organisations were at high risk. For organisations, AI can be a tough obstacle to overcome in their journey to cyber resiliency, and it’s important to seek guidance if the available skills are not in-house.
Sources: [Microsoft] [TechRadar ] [The Times] [Infosecurity Magazine]
Cyber Naivety Leaves 4 out of 5 Businesses Wide Open, Only 1 in 5 Has a Plan
Research conducted by Cowbell Insurance has found that the UK is exhibiting a rather cavalier approach to security with 77% of UK SMEs not having any in-house security, 32% of CEOs being confident a cyber attack would not impact their ability to do business and 87% not considering reputational damage as a significant risk. This contrasts with the UK Government’s latest cyber security breaches survey, which found 59% of medium businesses experienced breaches or attacks in the last 12 months. Cowbell have stated that that UK SMEs are leaving themselves wide open to the threats and only 1 in 5 organisations had a dedicated plan to deal with a cyber attack.
A cyber security incident response plan (IRP) allows an organisation to have a documented and formalised process for dealing with a cyber incident. The IRP should be exercised annually, and cover roles and responsibilities, communications and escalations to detect, analyse, contain, eradicate and recover from an incident.
Sources: [Business Mondays] [Insurance Times] [Reinsurance News] [Gloucestershire Live]
Risk and Regulation: Preparing for the Era of Cyber Security Compliance
The next twelve months will see new regulations in many countries, and that means more things to comply with. The EU has two new regulations relating to cyber security: the NIS2 directive and the Digital Operational Resilience Act (DORA). However, despite their EU origin, the inclusion of supply chain companies within the regulations means their impact and reach will extend outside of the European Union itself. Both regulations are risk-management based in their approach.
In order to prepare, decision makers need to first understand what they are complying with and in some cases, this may require sourcing external help to fully ensure the organisation is compliant. Once this is understood, they can start implementing their compliance strategy. Research has shown that some 43% of enterprises surveyed had failed a compliance audit, making them ten times more likely to suffer a data breach.
Sources: [Security Week] [Verdict]
Ransomware Attacks Jump 73% Within a Year
A recent report has shown that ransomware surged by 46% in February 2024, compared to January of the same year and 73% higher than February of the previous year. The LockBit ransomware group claimed responsibility for 110 attacks in February alone. The results show that ransomware is not only still an issue, but one that is consistently rising and if your organisation isn’t already implementing procedures to their risk, it is imperative to start now. Lockbit was taken down in a coordinated law enforcement operation earlier this year; only time will tell how effective that operation was or whether, as with the Hydra from Greek mythology, cutting off one head just causes more to grow in its place.
Source: [TechTarget]
The New CISO - Rethinking the Role
The role of Chief Information Security Officers (CISOs) faces a pivotal transformation. Traditionally tasked with safeguarding company assets against cyber threats, CISOs now find themselves straddling the realms of security and business operations. This shift reflects a growing expectation for CISOs to align security measures with broader business objectives while navigating an increasingly complex risk landscape. With the average cost of a data breach soaring, reaching $4.45 million in 2023 according to IBM, the stakes are higher than ever. As businesses grapple with the integration of cyber security into operational strategies, CISOs are compelled to cultivate new skills, communicate effectively with boards, embrace risk-based approaches, fortify technical fundamentals, leverage automation, and meticulously document incident response plans. The evolving threat landscape demands a new breed of CISO, one who is adept at balancing resilience with operational imperatives, collaborating closely with leadership, and steering organisations through turbulent cyber waters.
Source: [Dark Reading]
90% of Attacks Involve Data or Credential Theft, SMBs Primary Target
The 2024 Sophos Threat Report sheds light on the changing tactics of ransomware operators, particularly in their targeting of small and medium-sized businesses (SMBs). Notably, the report reveals a significant surge in ransomware attacks employing remote encryption, rising by 62% between 2022 and 2023. Sophos' Managed Detection and Response (MDR) team encountered multiple cyber attacks leveraging exploits in remote monitoring and management (RMM) software, a vital component used by many MSPs and external IT providers, and thus affecting many businesses. With almost half of malware detections for SMBs attributed to data-stealing malware, the report underscores the growing value of stolen data as currency in cyber criminal circles, with initial access brokers (IABs) facilitating network breaches. Data protection emerges as a critical challenge, with over 90% of attacks involving credential theft, and business email compromise (BEC) attacks becoming increasingly sophisticated. While ransomware remains a persistent threat, the report also highlights the proliferation of malware-as-a-service (MaaS) activities, emphasising the importance for SMBs to bolster their cyber security defences against these evolving threats.
Source: [MSSP Alert]
Chief Risk Officers Say Cyber Security is Most Pressing Risk
In an inaugural global insurance risk management survey conducted by EY/Institute of International Finance (IIF), cyber security was ranked as the highest immediate concern for chief risk officers. It placed above insurance, business model change and credit risk. When it came to emerging risks over the next three years, it remained at the top spot, followed by geopolitical risk, environmental risk and machine learning and artificial intelligence.
Source: [Insurance Journal]
Humans Still Cyber Security’s Weakest Link, Cyber Security Training Equips Your Workforce to Spot Threats
The latest findings from Mimecast's annual report emphasise that human error continues to be the leading cause of cyber breaches, responsible for 74% of incidents. As emerging threats like AI and deepfake technology pose increasingly sophisticated challenges, it's crucial for businesses to prioritise employee training and bolster their defence strategies.
Providing cyber security training is essential to creating a security conscious culture that educates on risk and in turn increases a company’s cyber culture. Committing to cyber security training needs to be beyond ticking a checkbox, as it allows the workforce the ability to understand, scrutinise and know how to report threats in the corporate environment. Training allows workers to be able to understand the types of threats they may face, along with red flags to look out for. Knowing how the employee should report a threat can determine whether your organisation can deal with a ransomware attack. While generic or off the shelf computer based training can be seen as an easy fix, training needs to be tailored to the organisation, its operating environment and the organisation’s culture and ways of doing business.
To mitigate this risk, organisations should consider implementing tailored cyber security education, tabletop exercises, phishing simulations, and one-on-one consulting for board members. As the responsibility of board members for cyber security strategy increases, it’s crucial to ensure their own security against evolving threats.
Sources: [Emerging Risks] [The HR Director] [WSJ] [The HR Director]
Most IT Pros Think Cyber Attacks are Getting Worse, and Many Firms Don’t Know How to Deal with Them
A recent report from Thales reveals a stark reality, with 93% of IT and security professionals noting a worsening trend in cyber attacks. Ransomware incidents have surged by over a quarter year-on-year, yet less than half of companies have adequate plans to address such threats, leading to 8% resorting to paying attackers' demands. Compliance failures are also on the rise, with 43% of enterprises falling short in audits, correlating with a higher incidence of cyber attacks among non-compliant organisations.
A separate report shows that despite record spending on cyber security, reaching $188 billion globally in 2023, reported data breaches in the US surged to an all-time high of 3,205, up 78% from the previous year. This paradox underscores the evolving tactics of cyber criminals. Ransomware attacks have transitioned from merely locking data to stealing and threatening to disclose it, termed Ransomware 2.0. Cloud misconfigurations, involving 82% of breaches, and exploitation of vendor systems further exacerbate the issue. Heightened awareness and improved practices are imperative to counteract the escalating threat landscape.
Supply Chain Cyber Attacks Create Weak Spots: You Need to Prepare
A recent poll by Deloitte found that nearly half of senior executives anticipate a rise in supply chain attacks in the coming year, with 33% already experiencing at least one supply-chain cyber incident within the past year. This especially rings true for healthcare, with the sector accounting for 33% of third-party data breaches in 2023. Many organisations are unsure where to even begin.
Organisations need to manage their third party risks through risk assessments, to understand the third parties that they currently or plan to use, and the data that the third party would hold or access. This enables the third parties to be prioritised with clear communications to notify the organisation in the event of a data breach.
Sources: [Security Brief ] [Beta News]
Ransomware Attack on Change Healthcare Pegged as “Most Significant” in Sector History
In a landmark incident, the American Hospital Association has dubbed the recent ransomware attack on Change Healthcare, a division of UnitedHealth Group’s Optum, as the most significant cyber threat ever faced by the US healthcare system. The attack, which occurred on February 21st, has severely impacted operations, affecting various healthcare entities reliant on Change Healthcare's services. UnitedHealth Group, in response, has been working to restore critical systems, aiming to reinstate electronic payment and medical claims services later this month. However, challenges persist, with cyber security experts warning that recovery efforts could extend for at least 30 days. The attack's aftermath sheds light on the healthcare sector's susceptibility to cyber threats and underscores the need for robust security measures and swift governmental responses. Reports reveal that the ransomware group responsible has received a substantial payout, raising concerns about the broader implications for healthcare providers. Cyber insurance policies are expected to help mitigate financial losses, especially for smaller entities facing cash flow disruptions.
Source: [Reinsurance News]
Governance, Risk and Compliance
Cyber criminals capitalise on businesses’ biggest flaw - human risk | theHRD (thehrdirector.com)
Nine in ten companies at risk of cyber attacks as hackers use AI (thetimes.co.uk)
Microsoft: The UK is woefully unprepared for future AI cyber threats | ITPro
Minister: Cyber brings 'risks we can't ignore' with UK firms still vulnerable (cityam.com)
UK’s cyber resilience stagnates as more fall victim to attacks | Computer Weekly
Risk and Regulation: Preparing for the Era of Cyber Security Compliance - Security Week
How does cyber security training equip your workforce to spot threats? (thehrdirector.com)
New research shows UK SMEs are leaving themselves open to cyber threats: Cowbell - Reinsurance News
Only 1 in 5 SMEs have a plan in case of cyber attack - Gloucestershire Live
Chief Risk Officers Say Cyber Security Most Pressing Risk: Survey (insurancejournal.com)
Using A Security Assessment As A Measuring Stick (forbes.com)
From Reactive to Proactive: The Evolution of Cyber Security (cryptopolitan.com)
Secrets sprawl: Protecting your critical secrets - Help Net Security
Cyber Security: Why it’s becoming harder to stay safe online (holyrood.com)
Cyber security must be a priority if the UK is serious about digitising the economy (uktech.news)
Organisations under pressure to modernize their IT infrastructures - Help Net Security
Board-level buy-in: preparing cyber defences the right way | Computer Weekly
Responding to a cyber incident – a guide for CEOs - NCSC.GOV.UK
Threats
Ransomware, Extortion and Destructive Attacks
Ransomware surges as compliance falters - Thales Group - Verdict
Whistleblowing And Cyber Swatting: Cyber Extortion Reaches A New Low (forbes.com)
NCC Group: Ransomware attacks jump 73% in February | TechTarget
RaaS groups increasing efforts to recruit affiliates - Help Net Security
If Companies Are So Focused on Cyber Security, Why Are Data Breaches Still Rising? - WSJ
After LockBit, ALPHV Takedowns, RaaS Startups Go on a Recruiting Drive (darkreading.com)
Lockbit Strikes Back After FBI Takedown With New Ransomware Attack Details (pcmag.com)
Government not facing up to CNI cyber risks, committee warns | Computer Weekly
6 Reasons Your Business Should Have Ransomware Plan - Security Boulevard
STOP ransomware, more common than LockBit, gains stealthier variant | SC Media (scmagazine.com)
Crypto scams more costly to US than ransomware, Feds say • The Register
TeamCity Flaw Leads to Surge in Ransomware, Cryptomining, and RAT Attacks (thehackernews.com)
What the Latest Ransomware Attacks Teach About Defending Networks (bleepingcomputer.com)
Takedowns spark affiliate bidding war among ransomware gangs | SC Media (scmagazine.com)
Ransomware Victims
VIEW: On the lessons learned from the British Library cyber incident - CIR Magazine
UnitedHealth advances $2 billion to providers post-cyber attack By Investing.com
Why UnitedHealth, Change Healthcare were targets of ransomware hackers
Criminal investigation into Leicester City Council cyber attack - BBC News
Yacht dealer to the celebs attack claimed by Rhysida gang • The Register
UK council eerily cagey about 'cyber incident' details • The Register
Russian military intelligence may have deployed wiper against multiple Ukrainian ISPs | CyberScoop
Phishing & Email Based Attacks
Russian hacker group exploits Microsoft Windows feature in worldwide phishing attack | TechRadar
Five key takeaways from 2024 State of the Phish: Europe and Middle East | ITPro
Tax Hackers Blitz Small Business With Phishing Emails (darkreading.com)
Hackers Posing as Law Firms Phish Global Orgs (darkreading.com)
IMF Investigates Serious Cyber Security Breach - Infosecurity Magazine (infosecurity-magazine.com)
Hackers Exploiting Popular Document Publishing Sites for Phishing Attacks (thehackernews.com)
A newly uncovered phishing campaign that spreads remote access trojans | Security Magazine
'Fluffy Wolf' Spreads Meta Stealer in Corporate Phishing Campaign (darkreading.com)
Spa Grand Prix email account hacked to phish banking info from fans (bleepingcomputer.com)
How to defend against phishing as a service and phishing kits | TechTarget
Other Social Engineering
Cyber criminals capitalise on businesses’ biggest flaw - human risk | theHRD (thehrdirector.com)
IMF Investigates Serious Cyber Security Breach - Infosecurity Magazine (infosecurity-magazine.com)
Don't Answer the Phone: Inside a Real-Life Vishing Attack (darkreading.com)
Artificial Intelligence
87% of UK organisations are vulnerable to cyber attacks in the age of AI (microsoft.com)
UK’s AI ambitions pointless while cyber security is still neglected | Computer Weekly
In the rush to build AI apps, don't leave security behind • The Register
AI adoption by hackers pushed financial scams in 2023 | CSO Online
Preparing Society for AI-Driven Disinformation in the 2024 Election Cycle - Security Week
From Deepfakes to Malware: AI's Expanding Role in Cyber Attacks (thehackernews.com)
Shadow AI is the latest cyber security threat you need to prepare for - Help Net Security
Navigating cyber vulnerabilities in AI-enabled military systems | European Leadership Network
Malware
The most prevalent malware behaviours and techniques - Help Net Security
Malware stands out as the fastest-growing threat of 2024 - Help Net Security
Fujitsu: Malware on Company Computers Exposed Customer Data (darkreading.com)
New Phishing Attack Uses Clever Microsoft Office Trick to Deploy NetSupport RAT (thehackernews.com)
Suspected Russian Data-Wiping 'AcidPour' Malware Targeting Linux x86 Devices (thehackernews.com)
From Deepfakes to Malware: AI's Expanding Role in Cyber Attacks (thehackernews.com)
A newly uncovered phishing campaign that spreads remote access trojans | Security Magazine
'Fluffy Wolf' Spreads Meta Stealer in Corporate Phishing Campaign (darkreading.com)
TeamCity Flaw Leads to Surge in Ransomware, Cryptomining, and RAT Attacks (thehackernews.com)
More sophisticated BunnyLoader malware variant emerges | SC Media (scmagazine.com)
Evasive Sign1 malware campaign infects 39,000 WordPress sites (bleepingcomputer.com)
Mobile
Denial of Service/DoS/DDOS
SEC Website Goes Dark, BTC Tumbles in Aftermath (financemagnates.com)
300,000 Systems Vulnerable to New Loop DoS Attack - Security Week
Telecoms is evolving – and unfortunately, so are DDoS attacks | TechRadar
Internet of Things – IoT
Unsaflok flaw can let hackers unlock millions of hotel doors (bleepingcomputer.com)
Chinese-made electric cars in UK could be jammed remotely by Beijing (thetimes.co.uk)
Data Breaches/Leaks
1% of users are responsible for 88% of data loss events - Help Net Security
If Companies Are So Focused on Cyber Security, Why Are Data Breaches Still Rising? - WSJ
Secrets sprawl: Protecting your critical secrets - Help Net Security
Hackers steal personal data of 43 million French job seekers | ITPro
International Monetary Fund email accounts hacked in cyber attack (bleepingcomputer.com)
IMF Investigating Cyber Security Incident Detected on Feb. 16 (bloomberglaw.com)
Threat actors leaked 70M+ records allegedly stolen from AT&T (securityaffairs.com)
AT&T says leaked data of 70 million people is not from its systems (bleepingcomputer.com)
Fujitsu: Malware on Company Computers Exposed Customer Data (darkreading.com)
Misconfigured Firebase Instances Expose 125 Million User Records - Security Week
Sophos: 90% of Attacks Involve Data or Credential Theft | MSSP Alert
Serial data thief pleads guilty to cyber crime charges • The Register
Fake data breaches: Countering the damage - Help Net Security
Fujitsu exposed client data, AWS keys and passwords for nearly a year, report (computing.co.uk)
Nations Direct Mortgage Data Breach Impacts 83,000 Individuals - Security Week
Organised Crime & Criminal Actors
RaaS groups increasing efforts to recruit affiliates - Help Net Security
IT helpdeskers increasingly targeted by cyber criminals • The Register
Serial data thief pleads guilty to cyber crime charges • The Register
The Magnet Goblin group is leveraging one-day vulnerabilities | Security Magazine
Cryptocurrency/Cryptomining/Cryptojacking/NFTs/Blockchain
SEC Website Goes Dark, BTC Tumbles in Aftermath (financemagnates.com)
Crypto scams more costly to US than ransomware, Feds say • The Register
TeamCity Flaw Leads to Surge in Ransomware, Cryptomining, and RAT Attacks (thehackernews.com)
Insider Risk and Insider Threats
1% of users are responsible for 88% of data loss events - Help Net Security
Cyber criminals capitalise on businesses’ biggest flaw - human risk | theHRD (thehrdirector.com)
How does cyber security training equip your workforce to spot threats? (thehrdirector.com)
Why human risk management is key to data protection (betanews.com)
As Boards Focus More on Cyber Security, Are They Missing One of the Biggest Threats? - WSJ
FE News | How to Protect Your Data With Cyber Security Training
China-based Canadian accused of stealing Tesla trade secret • The Register
Insurance
New Regulations Make D&O Insurance a Must for CISOs (darkreading.com)
Insurers told cyber cover remains attractive but beware of accumulation risk (emergingrisks.co.uk)
Supply Chain and Third Parties
Third-party breaches create network weak spots (betanews.com)
How to Prepare for a Surge in Supply-Chain Cyber Attacks (securitybrief.co.nz)
How to Accelerate Vendor Risk Assessments in the Age of SaaS Sprawl (thehackernews.com)
Cloud/SaaS
Shadow SaaS Dangers in Cyber Security Compliance Standards - Security Boulevard
Fujitsu exposed client data, AWS keys and passwords for nearly a year, report (computing.co.uk)
Vulnerability Allowed One-Click Takeover of AWS Service Accounts - Security Week
Identity and Access Management
Encryption
Microsoft announces deprecation of 1024-bit RSA keys in Windows (bleepingcomputer.com)
Future inevitability of quantum computers is a security problem today - Breaking Defence
Linux and Open Source
Passwords, Credential Stuffing & Brute Force Attacks
New acoustic attack determines keystrokes from typing patterns (bleepingcomputer.com)
WordPress Brute-Force Attacks: Sites Used As Staging Ground - Security Boulevard
What is Credential Harvesting? Examples & Prevention Methods - Security Boulevard
Ukraine cyber police arrested crooks selling 100 million compromised accounts (securityaffairs.com)
Misconfigured Firebase instances leaked 19 million plaintext passwords (bleepingcomputer.com)
Sophos: 90% of Attacks Involve Data or Credential Theft | MSSP Alert
Fujitsu exposed client data, AWS keys and passwords for nearly a year, report (computing.co.uk)
Social Media
Training, Education and Awareness
How does cyber security training equip your workforce to spot threats? (thehrdirector.com)
As Boards Focus More on Cyber Security, Are They Missing One of the Biggest Threats? - WSJ
FE News | How to Protect Your Data With Cyber Security Training
The Weakest Link: Securing The Human Element From Cyber Attack - Security Boulevard
Regulations, Fines and Legislation
Risk and Regulation: Preparing for the Era of Cyber Security Compliance - Security Week
SEC Website Goes Dark, BTC Tumbles in Aftermath (financemagnates.com)
Why do 60% of SEC Cyber Security Filings Omit CSO, CISO Info? | MSSP Alert
Models, Frameworks and Standards
Data Protection
Careers, Working in Cyber and Information Security
How to Battle Burnout While Protecting Your Most Valuable Asset — Your People - Benzinga
3 Ways Businesses Can Overcome the Cyber Security Skills Shortage (darkreading.com)
AI Won't Solve Cyber Security's Retention Problem (darkreading.com)
Law Enforcement Action and Take Downs
Filipino police break up forced labour cyber operation • The Register
Court jails first person convicted of cyberflashing in England | Crime | The Guardian
Ukraine cyber police arrested crooks selling 100 million compromised accounts (securityaffairs.com)
After LockBit, ALPHV Takedowns, RaaS Startups Go on a Recruiting Drive (darkreading.com)
Serial data thief pleads guilty to cyber crime charges • The Register
Takedowns spark affiliate bidding war among ransomware gangs | SC Media (scmagazine.com)
Misinformation, Disinformation and Propaganda
Nation State Actors, Advanced Persistent Threats (APTs), Cyber Warfare, Cyber Espionage and Geopolitical Threats/Activity
Cyber Warfare and Cyber Espionage
Cyber Warfare: Understanding New Frontiers in Global Conflicts (darkreading.com)
Cyber Threats Escalate Ahead of Global Elections (cryptopolitan.com)
Nation State Actors
China
Chinese Earth Krahang hackers breach 70 orgs in 23 countries (bleepingcomputer.com)
Five Eyes Agencies Issue New Alert on Chinese APT Volt Typhoon - Security Week
The UK energy sector faces an expanding OT threat landscape (securityintelligence.com)
“Disabling cyber attacks” are hitting critical US water systems, White House warns | Ars Technica
Chinese media exposes criminal smartphone farms • The Register
Chinese-made electric cars in UK could be jammed remotely by Beijing (thetimes.co.uk)
A look inside the Chinese cyber threat at the biggest ports in US
CISA shares critical infrastructure defence tips against Chinese hackers (bleepingcomputer.com)
Russia
Microsoft Under Attack by Russian Cyber Attackers - Security Boulevard
UK Defence Secretary jet hit by electronic warfare attack in Poland (securityaffairs.com)
Russian hacker group exploits Microsoft Windows feature in worldwide phishing attack | TechRadar
Russian Intelligence Targets Victims Worldwide in Rapid-Fire Cyber Attacks (darkreading.com)
The cyberwar in Ukraine is as crucial as the battle in the trenches (economist.com)
Russian cyber attacks rampant as key elections cycle begins (verdict.co.uk)
Russia’s Hybrid Warfare with the United States | Geopolitical Monitor
Suspected Russian Data-Wiping 'AcidPour' Malware Targeting Linux x86 Devices (thehackernews.com)
The UK energy sector faces an expanding OT threat landscape (securityintelligence.com)
“Disabling cyber attacks” are hitting critical US water systems, White House warns | Ars Technica
The West Should Help Expand Ukraine’s Cyber Offensive against Russia | Geopolitical Monitor
Russia Hackers Using TinyTurla-NG to Breach European NGO's Systems (thehackernews.com)
I’m a disaster expert - this is what will happen after a Russian cyber attack (inews.co.uk)
Russian military intelligence may have deployed wiper against multiple Ukrainian ISPs | CyberScoop
Top 5 Russian-Speaking Dark Web Forums - SOCRadar® Cyber Intelligence Inc.
Putin Sees Disastrous Start to Presidential Election (newsweek.com)
Moscow says no clear proof North Korea stole Russian weapons data: UN report | NK News
Iran
North Korea
North Korea gets 50% of foreign earnings due to weak security measures in crypto industry, UN says
North Korea's Kimsuky gang now exploiting Windows Help files • The Register
Hacks Account for Half of N. Korea Foreign-Currency Income: UN (bloomberglaw.com)
Moscow says no clear proof North Korea stole Russian weapons data: UN report | NK News
Vulnerability Management
NIST NVD Disruption Sees CVE Enrichment on Hold - Infosecurity Magazine (infosecurity-magazine.com)
No Easy Fix For Untangling Web of Critical Dependencies | Decipher (duo.com)
The Magnet Goblin group is leveraging one-day vulnerabilities | Security Magazine
NIST's Vuln Database Downshifts, Prompting Questions About Its Future (darkreading.com)
Navigating cyber vulnerabilities in AI-enabled military systems | European Leadership Network
Vulnerabilities
Exploitation activity increasing on Fortinet vulnerability | TechTarget
Vulnerability Allowed One-Click Takeover of AWS Service Accounts - Security Week
Ivanti Keeps Security Teams Scrambling With 2 More Vulns (darkreading.com)
Ivanti Releases Urgent Fix for Critical Sentry RCE Vulnerability (thehackernews.com)
Critical Fortinet's FortiClient EMS flaw actively exploited in the wild (securityaffairs.com)
Fortra Patches Critical RCE Vulnerability in FileCatalyst Transfer Tool (thehackernews.com)
Remove WordPress miniOrange plugins, a critical flaw can allow site takeover (securityaffairs.com)
Another Microsoft vulnerability is being used to spread malware | TechRadar
Misconfigured Firebase Instances Expose 125 Million User Records - Security Week
The Windows 11 KB5035853 update is causing BSOD errors for some users. | Windows Central
The Magnet Goblin group is leveraging one-day vulnerabilities | Security Magazine
Atlassian Releases Fixes for Over 2 Dozen Flaws, Including Critical Bamboo Bug (thehackernews.com)
TeamCity Flaw Leads to Surge in Ransomware, Cryptomining, and RAT Attacks (thehackernews.com)
iOS 17.4.1 release includes bug fixes and security updates | Macworld
Discontinued Security Plugins Expose Many WordPress Sites to Takeover - Security Week
Tools and Controls
Using A Security Assessment As A Measuring Stick (forbes.com)
Mastering Physical Security In Information Security (informationsecuritybuzz.com)
Microsoft announces deprecation of 1024-bit RSA keys in Windows (bleepingcomputer.com)
How to choose the best cyber security vendor for your business | ITPro
Shadow SaaS Dangers in Cyber Security Compliance Standards - Security Boulevard
Unlocking Security Architecture In Information Security (informationsecuritybuzz.com)
6 Reasons Your Business Should Have Ransomware Plan - Security Boulevard
From Reactive to Proactive: The Evolution of Cyber Security (cryptopolitan.com)
Tracking Everything on the Dark Web Is Mission Critical (darkreading.com)
Identity Concepts Underlie Cyber Risk 'Perfect Storm' (darkreading.com)
95% of companies face API security problems - Help Net Security
Responding to a cyber incident – a guide for CEOs - NCSC.GOV.UK
Reports Published in the Last Week
Other News
At 35, the web is broken, but its inventor hasn't given up hope of fixing it yet | ZDNET
The UK energy sector faces an expanding OT threat landscape (securityintelligence.com)
Government not facing up to CNI cyber risks, committee warns | Computer Weekly
UK in ‘better position’ against cyber attacks, but most businesses not resilient | Evening Standard
Cyber Threats Escalate Ahead of Global Elections (cryptopolitan.com)
The Aviation and Aerospace Sectors Face Skyrocketing Cyber Threats (securityaffairs.com)
Aviation sector, e-commerce platforms face separate cyber threats | SC Media (scmagazine.com)
Public anxiety mounts over critical infrastructure resilience to cyber attacks - Help Net Security
Change Healthcare hack highlights lack of medical industry’s cyber security - The Washington Post
How Can We Reduce Threats From the IABs Market? (darkreading.com)
UK renewables firms facing up to 1,000 cyber attacks a day (energyvoice.com)
Cyber Attacks on Higher Ed Rose Dramatically Last Year, Report Shows | EdTech Magazine
Cyber security is an urgent priority for the museums sector - Museums Association
Ethiopian Bank's Technical Glitch Lets Customers Withdraw Millions (ndtv.com)
Making Sense of Operational Technology Attacks: The Past, Present, and Future (thehackernews.com)
The Consequences for Schools and Students After a Cyber Attack - Security Boulevard
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.
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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 15 March 2024
Black Arrow Cyber Threat Intelligence Briefing 15 March 2024:
-Mind The Gap - Mimecast Report Finds Humans Are Biggest Security Flaw
-Three-Quarters of Cyber Victim Are SMBs - Why SMBs are Becoming More Vulnerable
-Cyber Security Skills Gap and Lack of Boardroom Engagement Invite Hacker Havoc
-UK Government’s Ransomware Failings Leave Country ‘Exposed and Unprepared’
-Data Breaches up 72% to New Record High: Cyber Security Incidents Rank as #1 Global Business Threat in 2024
-Finance Sector Facing Huge Number of Cyber Attacks That Could Leave It On its Knees, Highlights the Need to Build a Robust Security Culture
-Microsoft Confirms Russian Hackers Stole Source Code, Some Customer Secrets
-Independent Cyber Security Audits Are Powerful Tools for Boards
-Navigating Cyber Security in The Era of Mergers
-Phishing Tactics Evolve as Sophisticated Vishing and Image-based Phishing Take World by Storm
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
Mind The Gap: Mimecast Report Finds Humans Are Biggest Security Flaw
A global report from Mimecast has found that 74% of all cyber breaches are caused by human factors, including errors, misuse of access privileges or social engineering. Email remains the primary attack vector for cyber threats. Further, 67% of respondents expect AI-driven attacks to soon be the norm and 69% believe their company will be harmed by an attack.
No matter the size, sector or budget of an organisation, people remain a consistent risk factor. Even with strong technology controls, people can still be the risk that brings down the organisation. It is therefore important for organisations to integrate people into their cyber security investments. This should include awareness and education training, and fostering a cyber secure culture in the organisation.
Sources: [IT Security Guru] [Beta News] [Verdict]
Three-Quarters of Cyber Victim Are SMBs: Why SMBs are Becoming More Vulnerable
According to a recent Sophos report, over three-quarters of cyber incidents impacted smaller businesses in 2023, with ransomware having the largest impact. The research also found that in 90% of attacks, data or credential theft was involved and in 43%, data theft was the main focus.
The report found significant usage of initial access brokers; these are attackers whose speciality is to break into computer networks and sell ready-to-go access to other attackers. In fact, the report found that almost half of all malware detected in SMBs were malicious programs used to steal sensitive data and login credentials. Unfortunately, many SMBs struggle to keep up due to a lack of resources and budget; instead, they must be able to prioritise their cyber security efforts to get the most return on investment.
Sources: [Infosecurity Magazine] [Help Net Security] [TechRadar] [Nairametrics] [TechTarget]
Cyber Security Skills Gap and Lack of Boardroom Engagement Invite Hacker Havoc
The Ipsos report on Cyber Security Skills in the UK Labour Market 2023 sheds light on the persistent challenges faced in recruiting, training, and retaining cyber security professionals across various domains. With approximately 739,000 businesses lacking basic cyber skills and 487,000 facing advanced skills gaps, the demand for trained professionals is escalating. The shortage of incident response skills highlights the need for comprehensive education and training programs. Senior management and board-level executives must also be equipped with the knowledge to manage incidents effectively, emphasising reporting, seeking external assistance, and maintaining a no-blame culture. Understanding cyber risks at the business level is crucial, as cyber crime has evolved into a well-organised industry with distinct roles and profit-sharing mechanisms among cyber criminal groups. Conducting tabletop incident response exercises can effectively prepare senior leadership for cyber incidents, ensuring a proactive and coordinated response to mitigate risks and safeguard organisational resilience.
Source: [TechRadar]
UK Government’s Ransomware Failings Leave Country ‘Exposed and Unprepared’
The recent response from the British government to warnings about the looming ransomware threat has sparked criticism, with accusations of adopting an "ostrich strategy" by downplaying the severity of the national cyber threat. Despite alarming assessments from the Joint Committee on the National Security Strategy (JCNSS) regarding the high risk of a catastrophic ransomware attack, the government's formal response has been met with scepticism. Key recommendations, such as reallocating responsibility for tackling ransomware away from the Home Office, were rejected, with the government arguing that its existing regulations and the current National Cyber Strategy were sufficient. This argument has raised concerns about the government's preparedness and resource allocation. With ransomware attacks escalating in the UK, the Committee underscores the urgency for a proactive national security response to mitigate the potentially devastating impacts on the economy and national security.
Source: [The Record Media]
Data Breaches up 72% to New Record High: Cyber Security Incidents Rank as #1 Global Business Threat in 2024
Research conducted by the Identity Theft Resource Center (ITRC) found that 2023 set an all time high in data breaches, 72% more than the prior year. Separately, the Allianz Risk Barometer identified cyber incidents as the biggest global business threat for 2024, ranking above regulatory concerns, climate change and a shortage of skilled workers. It is crucial that the severity of this risk is reflected in the actions taken by organisations, who must effectively govern and implement their cyber security strategy.
Sources: [JDSupra]
Finance Sector Facing Huge Number of Cyber Attacks That Could Leave It On its Knees, Highlights the Need to Build a Robust Security Culture
Cyber security has become a pressing issue on financial institutions due to the rise in cyber attacks, as highlighted by the February attack on Bank of America via a third-party service. The involvement of the LockBit ransomware group underlines the persistent nature of these threats, particularly targeting the financial sector. These attacks disrupt services and undermine trust in the financial system, necessitating robust cyber security frameworks. The new US Securities and Exchange Commission (SEC) rule requiring immediate disclosure of cyber security incidents presents both benefits and challenges, calling for clear guidelines and industry-wide collaboration. BlackBerry’s Global Threat Intelligence Report revealed a staggering million attacks globally in just 120 days last year. These attacks, often using commodity malware, make up almost two-thirds of all industry-related incidents. The 27% increase in novel malware samples highlights the need for improved defences. These findings emphasise the need for AI-driven detection and defence strategies. While critical infrastructure remains a primary focus, commercial enterprises must remain vigilant, with a third of threats targeting various sectors, emphasising the pervasive nature of cyber threats across industries.
Source:[ SC Media] [TechRadar]
Microsoft Confirms Russian Hackers Stole Source Code, Some Customer Secrets
In a recent revelation, Microsoft disclosed that the Kremlin-backed threat group known as Midnight Blizzard successfully accessed some of Microsoft’s source code repositories and internal systems following a hack in January 2024. The breach, believed to have originally occurred in November 2023, exploited a legacy test account lacking multi-factor authentication by employing a password spray attack. Microsoft assured no compromise to customer-facing systems but warned of ongoing attempts by Midnight Blizzard to exploit stolen corporate email data. The extent of the breach remains under investigation, with concerns raised over the potential accumulation of attack vectors by the threat actor. The incident underscores the escalating sophistication of nation-state cyber threats and prompts a re-evaluation of security measures, highlighting the imperative for robust defences against such adversaries.
Source: [The Hacker News]
Independent Cyber Security Audits Are Powerful Tools for Boards
Board members are increasingly held accountable for their organisation's cyber posture, facing personal liability for lapses. To gain insight and demonstrate proactive leadership, independent cyber security audits have become indispensable. These audits not only aid in regulatory compliance but also uncover blind spots in the organisation's security measures. Recent regulations, such as by the US Securities and Exchange Commission (SEC) underscore the imperative for robust cyber security oversight at the board level. The audit process involves defining the scope, conducting assessments, validating findings through simulations, and presenting comprehensive reports to leadership. By embracing cyber security audits, boards can fulfil their duty of overseeing and enhancing the organisation's cyber resilience in an ever-evolving threat landscape.
Source: [Bloomberg Law]
Navigating Cyber Security in The Era of Mergers
In today's landscape of frequent mergers and acquisitions (M&A), organisations grapple with the challenge of aligning cyber security measures across subsidiaries, posing a risk to overall security. According to an IBM survey, over one in three executives attribute data breaches to M&A activity during integration. This complexity arises as security teams may lack insight into subsidiary infrastructure, hindering risk assessment and mitigation efforts. Historical incidents like the NotPetya attack on Merck and the Talk Talk hack highlight vulnerabilities post-acquisition, emphasising the need for a proactive approach to subsidiary cyber security. To address these challenges, organisations must conduct comprehensive risk assessments, standardise security protocols, foster collaboration, and consider unified security platforms. By proactively addressing visibility gaps and implementing standardised protocols, organisations can fortify their defences against evolving cyber threats amidst M&A activities.
Source: [Forbes]
Phishing Tactics Evolve as Sophisticated Vishing and Image-based Phishing Take World by Storm
According to a recent report, 76% of organisations were compromised by QR-code phishing in the last 12 months. Along with this, there has also been a rise in the number of sophisticated vishing attacks, with recent attacks costing organisations millions. The introduction of artificial intelligence has only added fuel to this fire already impacting security controls such as call-back procedures. With the tactics of phishing evolving, organisations need to ensure they are up-to-date and that employees are trained effectively to mitigate the risk of these.
Sources: [Help Net Security] [Dark Reading]
Governance, Risk and Compliance
Cyber Security skills gap and boardroom blindness invite hacker havoc | TechRadar
Independent Cyber Security Audits Are Powerful Tools for Boards (bloomberglaw.com)
Navigating Cyber Security In The Era Of Mergers (forbes.com)
SMEs invest in tech opportunities but risk missing security safeguards (betanews.com)
Your tech tools won’t save you from cyber threats | TechRadar
The CISO Role Is Changing. Can CISOs Themselves Keep Up? (darkreading.com)
Cyber Insurance Strategy Requires CISO-CFO Collaboration (darkreading.com)
How enterprises can tackle risky cyber security behavior and improve workforce resilience | ITPro
Building a Security Culture of Shared Responsibility - Security Boulevard
MDR Metrics that Matter – From Analysts to the Board of Directors | Binary Defense
Threats
Ransomware, Extortion and Destructive Attacks
Sophos: Remote ransomware attacks on SMBs increasing | TechTarget
UK government’s ransomware failings leave country ‘exposed and unprepared’ (therecord.media)
Understanding the multi-tiered impact of ransomware. (thecyberwire.com)
Ransomware tracker: The latest figures [March 2024] (therecord.media)
The effects of law enforcement takedowns on the ransomware landscape - Help Net Security
UK Conservatives Say 'No' to Cyber Insurance Backstop (inforisktoday.com)
Businesses leaving their Kubernetes containers exposed to ransomware | TechRadar
StopCrypt: Most widely distributed ransomware now evades detection (bleepingcomputer.com)
Member of LockBit ransomware group sentenced to 4 years in prison | Ars Technica
Ransomware Victims
British Library’s legacy IT blamed for lengthy rebuild • The Register
British Library shares lessons from cyber attack | UKAuthority
Stanford University failed to detect intruders for 4 months • The Register
Stanford says data from 27,000 people leaked in September ransomware attack (therecord.media)
Law Firm Sues MSP Over Black Basta Ransomware Attack | MSSP Alert
Play ransomware group stole 65,000 Swiss government files • The Register
Cancer Clinics Face Cash Crunch After Hack Rocks US Health Care (claimsjournal.com)
Nissan confirms ransomware attack exposed data of 100,000 people (bleepingcomputer.com)
Equilend warns employees their data was stolen by ransomware gang (bleepingcomputer.com)
Phishing & Email Based Attacks
Phishing Threats Rise as Malicious Actors Target Messaging Platforms - Security Boulevard
MiTM phishing attack can let attackers unlock and steal a Tesla (bleepingcomputer.com)
What is phishing? Examples, types, and techniques | CSO Online
Other Social Engineering
Sophisticated Vishing Campaigns Take World by Storm (darkreading.com)
Your tech tools won’t save you from cyber threats | TechRadar
Artificial Intelligence
AI Poses Extinction-Level Risk, State-Funded Report Says | TIME
Cyber crime underworld has removed all the guardrails on AI frontier
Critical ChatGPT Plug-in Vulnerabilities Expose Sensitive Data (darkreading.com)
Cyber attackers are threatening businesses with AI, says Microsoft (qz.com)
Intelligence officials warn pace of innovation in AI threatens US | CyberScoop
How advances in AI are impacting business cyber security - Help Net Security
NCSC Blog - AI and cyber security: what you need to know (techuk.org)
4 types of prompt injection attacks and how they work | TechTarget
Former Google engineer charged with stealing AI trade secrets | TechTarget
How to craft a generative AI security policy that works | TechTarget
2FA/MFA
Malware
Keyloggers, spyware, and stealers dominate SMB malware detections - Help Net Security
SMBs are being hit with more malware attacks than ever, and many can't keep up | TechRadar
Magnet Goblin hackers use 1-day flaws to drop custom Linux malware (bleepingcomputer.com)
Hackers exploit WordPress plugin flaw to infect 3,300 sites with malware (bleepingcomputer.com)
Botnets: The uninvited guests that just won’t leave | CSO Online
Hackers using Weaponized PDF Files to Deliver Remcos RAT (cybersecuritynews.com)
RedLine malware top credential stealer of last 6 months | SC Media (scmagazine.com)
Windows SmartScreen Bypass Flaw Exploited to Drop DarkGate RAT (darkreading.com)
Mobile
Blog: Why Hackers Love Phones - Keep your Eye on the Device - Security Boulevard
SIM swappers hijacking phone numbers in eSIM attacks (bleepingcomputer.com)
PixPirate Android malware uses new tactic to hide on phones (bleepingcomputer.com)
Denial of Service/DoS/DDOS
French government sites disrupted by très grande DDOS • The Register
Alabama Under DDoS Cyber Attack by Russian-Backed Hacktivists (darkreading.com)
RIA: Estonia's state institutions hit by largest cyber attack to date | News | ERR
DDoS attacks reach critical levels in 14 seconds | Security Magazine
Internet of Things – IoT
Internet of Risks: Cyber Security Risk in the Internet of Things | UpGuard
Unpatched Sceiner Smart Lock Vulnerabilities Allow Hackers to Open Doors - Security Week
Heated Seats? Advanced Telematics? Software-Defined Cars Drive Risk (darkreading.com)
Chinese spies want to steal IP by backdooring safe locks • The Register
Experts Say Chinese Safes Pose Risks to US National Security (inforisktoday.com)
MiTM phishing attack can let attackers unlock and steal a Tesla (bleepingcomputer.com)
Data Breaches/Leaks
Data Breaches up 72% From Record High: Cyber Incident Readiness Must be Top of Mind | Epiq - JDSupra
Jersey regulator's data breach leaks names and addresses - BBC News
Over 15,000 hacked Roku accounts sold for 50¢ each to buy hardware (bleepingcomputer.com)
Okta denies it was hacked again after data appears on hacking site | TechRadar
Over 12 million auth secrets and keys leaked on GitHub in 2023 (bleepingcomputer.com)
French unemployment agency data breach impacts 43 million people (bleepingcomputer.com)
Organised Crime & Criminal Actors
How to Identify a Cyber Adversary: Standards of Proof (darkreading.com)
How to Identify a Cyber Adversary: What to Look For (darkreading.com)
Broke Cyber Pros Flock to Cyber Crime Side Hustles (darkreading.com)
Cryptocurrency/Cryptomining/Cryptojacking/NFTs/Blockchain
Crypto phishers stole $47M last month, impersonators on X to blame (cointelegraph.com)
Bitcoin Fog mixer operator convicted for laundering $400 million (bleepingcomputer.com)
US Seizes $1.4 Million in Cryptocurrency From Tech Scammers - Security Week
Insider Risk and Insider Threats
Insider threats can damage even the most secure organisations - Help Net Security
Your tech tools won’t save you from cyber threats | TechRadar
Former Google engineer charged with stealing AI trade secrets | TechTarget
How enterprises can tackle risky cyber security behaviour and improve workforce resilience | ITPro
Building a Security Culture of Shared Responsibility - Security Boulevard
How to Battle Cyber Security Burnout and Protect Your People | Entrepreneur
Insurance
Cyber Insurance Strategy Requires CISO-CFO Collaboration (darkreading.com)
UK Conservatives Say 'No' to Cyber Insurance Backstop (inforisktoday.com)
Supply Chain and Third Parties
Play ransomware group stole 65,000 Swiss government files • The Register
Industry: Act Now To Secure the Solutions You Offer the Military | AFCEA International
Cloud/SaaS
EU’s use of Microsoft 365 found to breach data protection rules | TechCrunch
Guide: On-Prem is Dead. Have You Adjusted Your Web DLP Plan? (thehackernews.com)
How Not to Become the Target of the Next Microsoft Hack (darkreading.com)
Cloud Account Attacks Surged 16-Fold in 2023 - Infosecurity Magazine (infosecurity-magazine.com)
Mastering SANS Security Principles: A Deep Dive (informationsecuritybuzz.com)
Cloud security vs. network security: What's the difference? | TechTarget
Encryption
Linux and Open Source
How to Ensure Open Source Packages Are Not Landmines (darkreading.com)
Magnet Goblin hackers use 1-day flaws to drop custom Linux malware (bleepingcomputer.com)
Passwords, Credential Stuffing & Brute Force Attacks
Russian Hackers Are Weaponizing Stolen Microsoft Passwords (claimsjournal.com)
Overcoming the threat of account takeover fraud (securitybrief.co.nz)
LastPass suffers worldwide outage causing site 404 error - 9to5Mac
Social Media
Crypto phishers stole $47M last month, impersonators on X to blame (cointelegraph.com)
Meta sues “brazenly disloyal” former exec over stolen confidential docs | Ars Technica
TikTok Ban Raises Data Security, Control Questions (darkreading.com)
Training, Education and Awareness
Your tech tools won’t save you from cyber threats | TechRadar
How enterprises can tackle risky cyber security behaviour and improve workforce resilience | ITPro
Regulations, Fines and Legislation
Everything you need to know about the EU's Cyber Solidarity Act | ITPro
The New Hacker Playbook: Weaponizing the SEC’s Cyber Disclosure Rules | Woodruff Sawyer - JDSupra
Models, Frameworks and Standards
4 Security Tips From PCI DSS 4.0 Anyone Can Use (darkreading.com)
Mastering SANS Security Principles: A Deep Dive (informationsecuritybuzz.com)
Backup and Recovery
Data Protection
EU’s use of Microsoft 365 found to breach data protection rules | TechCrunch
How do you lot feel about Pay or OK model, ICO asks Brits • The Register
Careers, Working in Cyber and Information Security
Half of firms struggling to hire cyber security experts (securitybrief.co.nz)
UK Council's Vision: Set High Standards in Cyber Security (govinfosecurity.com)
How to Battle Cyber Security Burnout and Protect Your People | Entrepreneur
Cyber security skills gap and boardroom blindness invite hacker havoc | TechRadar
Broke Cyber Pros Flock to Cyber Crime Side Hustles (darkreading.com)
How To Overcome The Machismo Problem In Cyber Security (forbes.com)
Law Enforcement Action and Take Downs
Nation State Actors, Advanced Persistent Threats (APTs), Cyber Warfare, Cyber Espionage and Geopolitical Threats/Activity
Nation State Actors
China
TikTok Ban Raises Data Security, Control Questions (darkreading.com)
Lithuania security services warn of China's espionage against the country (securityaffairs.com)
Chinese Cyber Crime: Discretion Is the Better Part of Valor (databreachtoday.co.uk)
Chinese spies want to steal IP by backdooring safe locks • The Register
Experts Say Chinese Safes Pose Risks to US National Security (inforisktoday.com)
Russia
Microsoft says Russian hackers stole source code after spying on its executives - The Verge
Microsoft says Russian hackers breached its systems, accessed source code (bleepingcomputer.com)
Microsoft: Russians are using stolen information to breach company’s systems (therecord.media)
Microsoft says it hasn't been able to evict Russian state hackers | AP News
Kremlin accuses US of plotting election-day cyber attack • The Register
Major operation under way to identify source of Russian attack that 'jammed signals' on... - LBC
First-ever South Korean national detained for espionage in Russia (securityaffairs.com)
Alabama Under DDoS Cyber Attack by Russian-Backed Hacktivists (darkreading.com)
North Korea
Vulnerability Management
How to Streamline the Vulnerability Management Life Cycle - Security Boulevard
Researchers expose Microsoft SCCM misconfigs usable in cyber attacks (bleepingcomputer.com)
Vulnerability management, its impact and threat modeling methodologies (securityintelligence.com)
Vulnerabilities
Adobe Patches Critical Flaws in Enterprise Products - Security Week
Major CPU, Software Vendors Impacted by New GhostRace Attack - Security Week
Critical Fortinet flaw may impact 150,000 exposed devices (bleepingcomputer.com)
Fortinet Releases Security Updates for Multiple Products | CISA
SAP Patches Critical Command Injection Vulnerabilities - Security Week
Cisco addressed severe flaws in its Secure Client (securityaffairs.com)
5M WordPress Websites At Risk Amid LiteSpeed Plugin Flaw - Security Boulevard
New cyber crime crew Magnet Goblin caught exploiting Ivanti • The Register
Stealth Bomber: Atlassian Confluence Exploits Drop Web Shells In-Memory (darkreading.com)
Threat actors breached two crucial systems of the US CISA (securityaffairs.com)
Researchers found multiple flaws in ChatGPT plugins (securityaffairs.com)
Exploited Building Access System Vulnerability Patched 5 Years After Disclosure - Security Week
Tools and Controls
Independent Cyber Security Audits Are Powerful Tools for Boards (bloomberglaw.com)
NSA's Zero-Trust Guidelines Focus on Segmentation (darkreading.com)
Expert Cyber Security Strategies For Protecting Remote Businesses (forbes.com)
Guide: On-Prem is Dead. Have You Adjusted Your Web DLP Plan? (thehackernews.com)
Cyber Insurance Strategy Requires CISO-CFO Collaboration (darkreading.com)
How enterprises can tackle risky cyber security behaviour and improve workforce resilience | ITPro
Cloud security vs. network security: What's the difference? | TechTarget
Immutability: A boost to your security backup (betanews.com)
MDR Metrics that Matter – From Analysts to the Board of Directors | Binary Defense
How teams can improve incident recovery time to minimize damages - Help Net Security
Reports Published in the Last Week
Other News
Finance sector facing huge amount of cyber attacks that could leave it on its knees | TechRadar
French state services hit by cyber attacks of 'unprecedented intensity' (france24.com)
Better Safe Than Sorry: Making Cyber Security a Priority | HealthLeaders Media
How Dangerous Is the Cyber Attack Risk to Transportation? (securityintelligence.com)
Pi Day: How Hackers Slice Through Security Solutions - Security Boulevard
78% of MSPs state cyber security is a prominent IT challenge | Security Magazine
No, 'Leave the World Behind' and 'Civil War' Aren’t Happening Before Your Eyes | WIRED
Maritime cyber security: threats and challenges - Port Technology International
What resources do small utilities need to defend against cyber attacks? | CyberScoop
10 free cyber security guides you might have missed - Help Net Security
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 08 March 2024
Black Arrow Cyber Threat Intelligence Briefing 08 March 2024:
-FBI Reports Cyber Crime Losses Reached $12.5 billion in 2023, Ransomware Losses Surged by 74%, Average Ransomw Demand Reaching $600k
-Capita Plans £100 Million in Cost Cuts as it Continues to Grapple With 2023 Cyber Attack, Resulting in Significant Job Losses
-Employment Law Firm Sues IT Company Over Ransomware Attack
-Stolen Passwords are a Hacker Goldmine
-Phishing Attacks Up 40 Percent in 2023; Attackers Leverage Social Engineering for Greater Success
-Business Leaders Don’t Even Know They’ve Been Hacked
-Rising Cyber Security Risks: Insider Threat Main Concern Among Mid-Market Firms
-Security Risks Plague SMEs in Shift to Remote Working
-After Collecting $22 Million, Ransomware Group Stages FBI Takedown
-Cyber Attacks Remain Chief Concern for Businesses
-Two New Ransomware Groups Join Forces to Launch Joint Attacks
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
FBI Reports Cyber Crime Losses Reached $12.5 billion in 2023, Ransomware Losses Surged by 74%, Average Ransom Demand Reaching $600k
An FBI report into the cost of cyber crime has found that estimated losses in the US alone reached $12.5 billion in 2023. Ransomware accounted for $59.6 million, a 74% increase from the previous year’s report. Of note, the FBI report only deals with complaints made to the FBI; it therefore excludes other countries, and relies on the US organisations to identify that they have been impacted. It is therefore likely that the figure in the US, let alone globally, is significantly higher.
Sources: [Security Boulevard] [Security Week] [Infosecurity Magazine] [Tripwire] [Security Affairs]
Capita Plans £100 Million in Cost Cuts as it Continues to Grapple With 2023 Cyber Attack, Resulting in Significant Job Losses
In the aftermath of a significant cyber attack in 2023, Capita faces a steep financial hurdle with reported losses amounting to £106.6 million. Originally forecasted at £25 million, the revised figure underscores the substantial impact of the breach. Capita’s response strategy, including significant investments in recovery and cyber security bolstering, emphasises the escalating costs associated with data breaches. CEO Adolfo Hernandez announced plans for a substantial cost reduction of over £100 million, indicating the critical need for efficiency improvements to mitigate the financial strain. Capita’s experience serves as a potent reminder of the critical importance of robust cyber resilience strategies. These strategies are not just about preventing attacks, but also about mitigating the potentially devastating financial consequences should a breach occur.
Source: [ITPro]
Employment Law Firm Sues IT Company Over Ransomware Attack
A law firm in California has sued an IT solutions company, saying that after hiring the company to install a network system and server, the law firm suffered a ransomware attack. The law firm found that not long after the network was installed, they were unable to access their data, and when they had gone to retrieve a cloud backup, they had found this was already deleted, forcing them to pay the ransom to get their data back. The law firm is accusing the IT company of negligence and breach of contract and is seeking damages of at least $1 million.
Source: [Law360]
Stolen Passwords are a Hacker Goldmine
Passwords are not only crucial for organisational security, but they also come with significant costs and vulnerabilities. From the time spent by service desks on resets, to the expense of security incidents and breaches, the financial toll is substantial. Weak or reused passwords heighten the vulnerability, with breaches involving stolen credentials costing an average of $4.45 million. Cyber threats are evolving, with hackers increasingly favouring stolen user accounts over traditional malware. This shift, underscored by a notable 71% increase in attacks leveraging valid login credentials in 2023 as reported by CrowdStrike and IBM, highlights the repercussions of compromised credentials. Embracing technologies like multi-factor authentication (MFA) and single sign-on (SSO), along with employee education, can bolster security while alleviating financial strains. Robust identity management and zero-trust security frameworks are essential to mitigate risks further, especially in the face of rising cloud intrusions. Proactive investments in password security software such as password managers can help streamline operations and enhance overall organisational resilience against these evolving threats.
Sources: [Bleeping Computer] [Axios]
Phishing Attacks Up 40 Percent in 2023; Attackers Leverage Social Engineering for Greater Success
Kaspersky recently released their annual spam and phishing report in which they identified over 709 million attempts to access phishing and scam websites, a 40% increase from the previous year. It should be noted that this number is just related to Kaspersky’s identification; the figure is likely far greater. With reports identifying that 90% of phishing involves social engineering, it is important to understand how it is leveraged.
Phishing attacks generally include an element of trust; for example, a bad actor impersonating a reputable brand or providing details about an individual that makes the attack more credible. Often, social engineering will rely on human characteristics, such as urgency, emotion and habit to try to manipulate the target to perform particular actions. Whilst the tools may change, the basis is the same; a successful phish requires user interaction. To mitigate the impact of phishing in corporate environments, organisations must stay informed about the latest adversarial activity and prioritise security measures such as multi-factor authentication (MFA) and providing employee awareness and education training that goes beyond ticking boxes.
Sources: [Beta News] [CSO Online] [Security Boulevard] [DarkReading]
Business Leaders Don’t Even Know They’ve Been Hacked
A survey of over 10,000 business leaders across various industries has found that a number of business leaders know little when it comes to their organisation’s cyber security landscape, with 1 in 10, “unsure” and unable to provide a definitive answer as to whether their organisation has had a data breach in 2023. The report highlights that there are a number of leadership positions that are not receiving sufficient information about their organisation’s data security situation.
Receiving regular reports with metrics about the organisation’s cyber security posture is key to organisations achieving and maintaining a solid level of governance, something that is required in various standards and regulations.
Source: [Tech.Co]
Rising Cyber Security Risks: Insider Threat Main Concern Among Mid-Market Firms
According to the 2023 CyberArk Identity Security Threat Landscape Report, insider threats are on the rise, with 68% of organisations reporting an increased frequency in the past year. These threats, considered one of the top concerns over the next 12 months, stem from within an organisation where authorised employees exploit their access to steal or leak sensitive data. Factors such as flexible working, an increase in job transitions, workforce reductions, third-party relationships, economic uncertainties, and employee stress levels further compound these challenges. Negligence, accounting for 62% of insider incidents, plays a significant role; these threats aren’t always malicious but can also be negligent or accidental. As these threats evolve, the potential consequences, including revenue loss and reputational damage, are becoming more apparent to business leaders. To mitigate risks, companies must prioritise improving identity security, particularly in controlling privileged access, and embrace a Zero Trust approach. This ensures full visibility and control over access to sensitive data, safeguarding critical assets and enhancing cyber resilience in an increasingly volatile landscape. Other key identified threats include AI-related risks, ransomware, deep fakes, and malware.
Sources: [TechRadar] [Comms Business]
C-Suite Executives: An Attacker’s Dream?
Cyber criminals are increasingly focusing on high-value targets, particularly C-suite executives who hold extensive organisational access. These executives, often overlooked in security practices and training, have become vulnerable links. The cyber security landscape of 2023 saw significant advancements but also revealed vulnerabilities, exacerbated by global conflicts and strategic cyber attacks. Cyber actors are now targeting entities with high return potential, with ransomware attackers tailoring their strikes to maximise revenues, often from smaller organisations. Interestingly, while automation is on the rise, cyber criminals are opting for a human touch, with human operatives often behind attacks. A report last year showed a nearly 30% spike in fraud specifically targeting senior executives, highlighting the vulnerability of the C-suite. This emphasises the need for robust cyber resilience strategies to safeguard these high-value targets.
Source: [SecurityBrief New Zealand]
Security Risks Plague SMEs in Shift to Remote Working
In the wake of the COVID-19 pandemic, remote working surged, offering businesses newfound flexibility and cost efficiencies. However, this paradigm shift comes with its own set of security challenges, particularly impacting startups and small businesses. The inherent flexibility of remote work exposes companies to risks like unauthorised access, IP theft, and malware. These threats are especially potent for SMEs, jeopardising their financial stability and reputation. Robust security measures include VPNs, enforcing regular software updates, and employee training to mitigate these risks. By embracing these strategies, SMEs can navigate the remote work landscape securely, unlocking its benefits while safeguarding against potential threats.
Source: [SecurityBrief New Zealand]
After Collecting $22 Million, Ransomware Group Stages FBI Takedown
The ransomware group responsible for facilitating a huge attack against a US prescription drug company for $22 million has gone dark, days after receiving the payment and standing accused of scamming their own affiliate out of their share of the gains. Days after the payment was made, AlphV’s public website started displaying a message saying it had been seized by the FBI as part of an international law enforcement action. Ransomware researchers have since said that it has not actually been seized, but appears to be a ploy to exit scam affiliates of the ransomware group. This proves the old adage that there really is no honour among thieves.
Source: [Ars Technica]
Cyber Attacks Remain Chief Concern for Businesses
A recent report has underscored the growing concern among UK corporate businesses regarding cyber attacks as the primary fraud threat in the upcoming year, with 73% of respondents expressing worry. As businesses grapple with the shift to hybrid and remote work models, ensuring robust counter-fraud measures and internal controls is imperative to safeguarding workforces regardless of location. This situation emphasises the critical importance of investing in employee training to combat evolving fraud threats. It highlights the far-reaching consequences that fraud can have on organisations and underscores the necessity of fostering an anti-fraud culture across all levels of the enterprise.
Source: [TheHRDirector]
Two New Ransomware Groups Join Forces to Launch Joint Attacks
Two ransomware groups, Ghostsec and Stormous, have joined forces to conduct double extortion ransomware attacks on various businesses across multiple countries. As part of this, their new ransomware-as-a-service (RaaS) program, STMX_GhostLocker, provides various options for their affiliates. GhostSec is already part of a coalition called the five families, involving 4 other entities. The group ventured into RaaS last year, offering services for as little as $269.99 per month.
Source: [The Hacker News]
Governance, Risk and Compliance
FBI: Cyber Crime Losses Exceeded $12.5 Billion in 2023 - Security Week
1 in 10 Business Leaders Don’t Even Know They’ve Been Hacked (tech.co)
Cyber attacks remain chief concern for businesses | theHRD (thehrdirector.com)
What Cyber Security Chiefs Need From Their CEOs (darkreading.com)
Simply Human: Why HR Needs To Take The Lead In Cyber Security (forbes.com)
The Security Interviews: Cyber security is about managing risk effectively | Computer Weekly
NIST Cyber Framework 2.0: Doubling Down on Governance, Expanding Applicability | Law.com
CISOs Tackle Compliance With Cyber Guidelines (informationweek.com)
Are C-suite executives cyber security's weakest link? (securitybrief.co.nz
30 years of the CISO role – how things have changed since Steve Katz | CSO Online
How to create an efficient governance control program - Help Net Security
Demystifying the Maze: A Guide to Cyber Risk Quantification Methods (cybersaint.io)
Resilience is built on a solid framework | Professional Security
Research finds that cyber security leaders are taking on multiple roles | Security Magazine
Threats
Ransomware, Extortion and Destructive Attacks
ConnectWise ScreenConnect bug used in Play ransomware breach, MSP attack | SC Media (scmagazine.com)
Employment Law Firm Sues IT Co. Over Ransomware Attack - Law360
Report: Average Initial Ransomware Demand in 2023 Reached $600K - Security Boulevard
What’s Fueling the Ransomware Epidemic? | Symantec Enterprise Blogs (security.com)
Banning ransomware payments back on the agenda | Computer Weekly
BlackCat Goes Dark After Ripping Off Change Healthcare Ransom (darkreading.com)
Uncle Sam intervenes in Change Healthcare ransomware fiasco • The Register
US cyber and law enforcement agencies warn of Phobos ransomware attacks (securityaffairs.com)
Experts echo calls for ransomware ban as LockBit rallies • The Register
Government urged to ban ransom payments to cyber criminals (computing.co.uk)
Ransomware spikes against critical infrastructure, says FBI • The Register
Major shifts in identity, ransomware, and critical infrastructure threat trends - Help Net Security
Government was third-largest ransomware target last year: FBI - Defense One
JetBrains TeamCity under attack by ransomware thugs • The Register
Ransomware Victims
A Deep Dive into the 2024 Prudential and LoanDepot Breaches - Security Boulevard
Employment Law Firm Sues IT Co. Over Ransomware Attack - Law360
After collecting $22 million, AlphV ransomware group stages FBI takedown | Ars Technica
Change Healthcare hack cripples payment systems across health providers - The Washington Post
Hackers Behind the Change Healthcare Ransomware Attack Just Received a $22 Million Payment | WIRED
Capita raises threat of further job cuts under plans to save another £100m | BelfastTelegraph.co.uk
First BofA, Now Fidelity: Same Vendor Behind Third-Party Breaches (darkreading.com)
UnitedHealth's cyber attack should be a 'wake-up call' for healthcare (yahoo.com)
Security leaders weigh in on the recent UnitedHealth cyber attack | Security Magazine
Canada's anti-money laundering agency offline after cyber attack (bleepingcomputer.com)
Uncle Sam intervenes in Change Healthcare ransomware fiasco • The RegisterFidelity Investments Notifying 28,000 People of Data Breach - Security Week
Duvel says it has "more than enough" beer after ransomware attack (bleepingcomputer.com)
Thousands of Dutch passports stolen in ransomware attacks available on dark web | NL Times
Corporate Greed Made the Change Healthcare Cyber attack Worse (nymag.com)
Switzerland: Play ransomware leaked 65,000 government documents (bleepingcomputer.com)
Possible China link to Change Healthcare ransomware attack • The Register
Action needed to avoid repeat of Southern Water cyber attack - Utility Week
Phishing & Email Based Attacks
Jamf says 9% of smartphone have fallen for phishing attacks (appleinsider.com)
How attackers leverage social engineering for greater scamming success | CSO Online
Cyber Criminals Spoof US Government Organisations in BEC, Phishing Attacks - Security Week
Annual State of Email Security by the Numbers - Security Boulevard
New Phishing Kit Leverages SMS, Voice Calls to Target Cryptocurrency Users (thehackernews.com)
Hackers target Coinbase, Binance staff with phishing clones of Gmail, iCloud (crypto.news)
AI worm that infects computers and reads emails created by researchers | The Independent
95% believe LLMs making phishing detection more challenging - Help Net Security
Other Social Engineering
How attackers leverage social engineering for greater scamming success | CSO Online
New Phishing Kit Leverages SMS, Voice Calls to Target Cryptocurrency Users (thehackernews.com)
The Rise of Social Engineering Fraud in Business Email Compromise (darkreading.com)
Artificial Intelligence
Over 225,000 Compromised ChatGPT Credentials Up for Sale on Dark Web Markets (thehackernews.com)
AI tools put companies at risk of data exfiltration - Help Net Security
Don't Give Your Business Data to AI Companies (darkreading.com)
Act now to stop WordPress and Tumblr selling your content to AI firms • Graham Cluley
GTPDOOR backdoor is designed to target telecom carrier networks (securityaffairs.com)
Political deepfakes are spreading like wildfire thanks to GenAI | TechCrunch
AI worm that infects computers and reads emails created by researchers | The Independent
95% believe LLMs making phishing detection more challenging - Help Net Security
Immediate AI risks and tomorrow's dangers - Help Net Security
Defence: Leonardo CEO says stupidity poses a bigger threat than AI (cnbc.com)
2FA/MFA
Malware
No “Apple magic” as 11% of macOS detections last year came from malware | Malwarebytes
Mobile banking malware growing rapidly, ThreatFabric warns | Biometric Update
GTPDOOR backdoor is designed to target telecom carrier networks (securityaffairs.com)
Watch Out for Spoofed Zoom, Skype, Google Meet Sites Delivering Malware (thehackernews.com)
Linux variant of BIFROSE RAT uses deceptive domain strategies (securityaffairs.com)
New Linux malware found targeting mobile networks across the world | TechRadar
ScreenConnect flaws exploited to drop new ToddleShark malware (bleepingcomputer.com)
Malware is coming for your ChatGPT credentials • The Register
North Korea Hits ScreenConnect Bugs to Drop 'ToddleShark' Malware (darkreading.com)
Linux Malware Campaign Targets Misconfigured Cloud Servers - Security Week
AI worm that infects computers and reads emails created by researchers | The Independent
New WogRAT malware abuses online notepad service to store malware (bleepingcomputer.com)
Snake, a new Info Stealer spreads through Facebook messages (securityaffairs.com)
Linux Variants of Bifrost Trojan Evade Detection via Typosquatting (darkreading.com)
Mobile
Jamf says 9% of smartphone have fallen for phishing attacks (appleinsider.com)
Mobile banking malware growing rapidly, ThreatFabric warns | Biometric Update
Apple warns of increased iPhone security risks | Computerworld
Android's March 2024 Update Patches Critical Vulnerabilities - Security Week
CISA Adds Android Pixel and Sunhillo Sureline Bugs to Its Known Exploited Vulnerabilities Catalog
The Importance of Cyber security for Your Smart Devices | HackerNoon
Phone hacking is a real danger. How to keep your data, location secure (usatoday.com)
Denial of Service/DoS/DDOS
Internet of Things – IoT
Someone is hacking 3D printers to warn owners of a security flaw (bitdefender.com)
Popular doorbell camera brands contain security flaws, making them easy to hack: Report | The Hill
NCSC flags up cyber security for connected places | UKAuthority
The Importance of Cyber Security for Your Smart Devices | HackerNoon
Flipper Zero WiFi phishing attack can unlock and steal Tesla cars (bleepingcomputer.com)
Data Breaches/Leaks
The State Of Cyber Security (Part One): Why Are There Still So Many Data Breaches? (forbes.com)
A leaky database spilled 2FA codes for the world’s tech giants | TechCrunch#
American Express credit cards exposed in third-party data breach (bleepingcomputer.com)
Fidelity Investments Notifying 28,000 People of Data Breach - Security Week
AI tools put companies at risk of data exfiltration - Help Net Security
4 Instructive Postmortems on Data Downtime and Loss (thehackernews.com)
Organised Crime & Criminal Actors
FBI: Cyber Crime Losses Exceeded $12.5 Billion in 2023 - Security Week
$12.5 billion lost to cyber crime, amid tidal wave of crypto investment fraud | Tripwire
Germany takes down cyber crime market with over 180,000 users (bleepingcomputer.com)
Poorly paid cyber security staff risk ‘breaking bad’ on the dark web (techinformed.com)
Cryptocurrency/Cryptomining/Cryptojacking/NFTs/Blockchain
$12.5 billion lost to cyber crime, amid tidal wave of crypto investment fraud | Tripwire
Hackers target FCC, crypto firms in advanced Okta phishing attacks (bleepingcomputer.com)
Hackers target Coinbase, Binance staff with phishing clones of Gmail, iCloud (crypto.news)
New Phishing Kit Leverages SMS, Voice Calls to Target Cryptocurrency Users (thehackernews.com)
Crypto fraud in 2023: How can security teams fight (securityintelligence.com)
Insider Risk and Insider Threats
Comms Business - Insider threat main concern among mid-market firms
Current workforce trends feed into rising cyber security risks | TechRadar
Army Vet Spills National Secrets to Fake Ukrainian Girlfriend (darkreading.com)
Supply Chain and Third Parties
Employment Law Firm Sues IT Co. Over Ransomware Attack - Law360
Capita plans £100 million in cost cuts as it continues to grapple with 2023 cyber attack | ITPro
First BofA, Now Fidelity: Same Vendor Behind Third-Party Breaches (darkreading.com)
American Express credit cards exposed in third-party data breach (bleepingcomputer.com)
Hackers target FCC, crypto firms in advanced Okta phishing attacks (bleepingcomputer.com)
Switzerland: Play ransomware leaked 65,000 government documents (bleepingcomputer.com)
Chinese State Hackers Target Tibetans with Supply Chain, Watering Hole Attacks (thehackernews.com)
Cloud/SaaS
10 Essential Processes for Reducing the Top 11 Cloud Risks (darkreading.com)
Hackers target Coinbase, Binance staff with phishing clones of Gmail, iCloud (crypto.news)
Identity and Access Management
Encryption
Linux and Open Source
Open source vulnerabilities dominated 2023, and this year looks no different | ITPro
Linux Malware Campaign Targets Misconfigured Cloud Servers - Security Week
Linux Variants of Bifrost Trojan Evade Detection via Typosquatting (darkreading.com)
Passwords, Credential Stuffing & Brute Force Attacks
Hacked WordPress sites use visitors' browsers to hack other sites (bleepingcomputer.com)
Over 225,000 Compromised ChatGPT Credentials Up for Sale on Dark Web Markets (thehackernews.com)
Malware is coming for your ChatGPT credentials • The Register
Stolen passwords are a hacker goldmine now, CrowdStrike and IBM find (axios.com)
Passwords are Costing Your Organisation Money - How to Minimize Those Costs (bleepingcomputer.com)
US State AGs tell Meta to fix rampant account takeovers • The Register
Social Media
Google and Meta users see their 2FA security codes leaked online - Root-Nation.com
“Technical Issue” Takes Facebook Offline, Offers No Cyber Security Reassurance | MSSP Alert
Facebook and Instagram Overrun by Account Hackers, States Warn (bloomberglaw.com)
Snake, a new Info Stealer spreads through Facebook messages (securityaffairs.com)
Meta Abandons Hacking Victims, Draining Law Enforcement Resources, Officials Say | WIRED
US State AGs tell Meta to fix rampant account takeovers • The Register
Training, Education and Awareness
Regulations, Fines and Legislation
EU council welcomes cyber solidarity act agreement (verdict.co.uk)
The modern CISO's guide to navigating new SEC cyber regulations (betanews.com)
Five Unintended Consequences of the New SEC Cyber Security Disclosure Rule - Security Boulevard
Navigating regulation challenges for protecting sensitive healthcare data - Help Net Security
Models, Frameworks and Standards
NIST Cyber Security Framework 2.0: 4 Steps to Get Started (darkreading.com)
NIST Cyber Framework 2.0: Doubling Down on Governance, Expanding Applicability | Law.com
Data Protection
Careers, Working in Cyber and Information Security
11 Top Cyber Security Certifications to Consider In 2024 (datamation.com)
Poorly paid cyber security staff risk ‘breaking bad’ on the dark web (techinformed.com)
Law Enforcement Action and Take Downs
Germany takes down cyber crime market with over 180,000 users (bleepingcomputer.com)
A cyber criminal is sentenced, will it make a difference? - Help Net Security
Nigerian National Pleads Guilty of Conspiracy in BEC Operation (darkreading.com)
Misinformation, Disinformation and Propaganda
Nation State Actors, Advanced Persistent Threats (APTs), Cyber Warfare, Cyber Espionage and Geopolitical Threats/Activity
Cyber Warfare and Cyber Espionage
Nation State Actors
China
Chinese nation state actors to ramp up cyber espionage attempts in 2024 - IT Security Guru
We’re Slowly Learning About China’s Extensive Hacking Network | Mind Matters
Taiwan's Biggest Telco Breached by Suspected Chinese Hackers (darkreading.com)
Possible China link to Change Healthcare ransomware attack • The Register
A New Wave of Cyber Attacks: Five Actions to Take Now | IndustryWeek
Chinese State Hackers Target Tibetans with Supply Chain, Watering Hole Attacks (thehackernews.com)
Russia
The Five Bears: Russia's Offensive Cyber Capabilities (greydynamics.com)
A Silent World War – Russia’s Cyberwar Against the West (kyivpost.com)
Germany Urged to Tighten Security After Russia Leaked Classified Information - Bloomberg
Germany to investigate Russia’s interception of military talks on Ukraine | Germany | The Guardian
Valuable Russian Military Documents Exposed: Report (newsweek.com)
Russian Hackers Target Ukraine Via A Disinformation Campaign - Security Boulevard
North Korea
Lazarus Group observed exploiting an admin-to-kernel Windows zero-day | SC Media (scmagazine.com)
North Korea Hits ScreenConnect Bugs to Drop 'ToddleShark' Malware (darkreading.com)
North Korea’s Kimsuky gang joins rush to exploit new ScreenConnect bugs | SC Media (scmagazine.com)
North Korea hacks two South Korean chip firms to steal engineering data (bleepingcomputer.com)
Other Nation State Actors, Hacktivism, Extremism, Terrorism and Other Geopolitical Threat Intelligence
Vulnerability Management
Firms Still Threatened by Old Vulnerabilities (govinfosecurity.com)
Open source vulnerabilities dominated 2023, and this year looks no different | ITPro
Organisations are knowingly releasing vulnerable applications - Help Net Security
Enhancing security through proactive patch management - Help Net Security
Vulnerabilities
Five Eyes alliance warns of attacks exploiting known Ivanti Gateway flaws (securityaffairs.com)
ConnectWise ScreenConnect bug used in Play ransomware breach, MSP attack | SC Media (scmagazine.com)
North Korea’s Kimsuky gang joins rush to exploit new ScreenConnect bugs | SC Media (scmagazine.com)
North Korea Hits ScreenConnect Bugs to Drop 'ToddleShark' Malware (darkreading.com)
Hackers exploited Windows 0-day for 6 months after Microsoft knew of it | Ars Technica
Urgent: Apple Issues Critical Updates for Actively Exploited Zero-Day Flaws (thehackernews.com)
VMware Issues Security Patches for ESXi, Workstation, and Fusion Flaws (thehackernews.com)
VMWare Urges Users to Uninstall EAP Immediately - Security Boulevard
Cisco Patches High-Severity Vulnerabilities in VPN Product - Security Week
Critical TeamCity flaw now widely exploited to create admin accounts (bleepingcomputer.com)
Critical TeamCity Bugs Endanger Software Supply Chain (darkreading.com)
Android's March 2024 Update Patches Critical Vulnerabilities - Security Week
CISA Warns of Pixel Phone Vulnerability Exploitation - Security Week
Tools and Controls
Why cyber maturity assessment should become standard practice - Help Net Security
1 in 10 Business Leaders Don’t Even Know They’ve Been Hacked (tech.co)
The Ultimate Guide to Threat Detection, Investigation, and Response (TDIR) (govinfosecurity.com)
The Security Interviews: Cyber security is about managing risk effectively | Computer Weekly
What Is A Cyber Incident Response Policy? - Security Boulevard
Cyber Criminals Using Novel DNS Hijacking Technique for Investment Scams (thehackernews.com)
Demystifying the Maze: A Guide to Cyber Risk Quantification Methods (cybersaint.io)
Resilience is built on a solid framework | Professional Security
Simply Human: Why HR Needs To Take The Lead In Cyber Security (forbes.com)
The critical role of DNS in cyber security and digital thriving | TechRadar
What is Advanced Threat Protection and How to Use It in Your Business - Security Boulevard
How To Close The DevSecOps Cyber Security Skills Gap And Boost Security (forbes.com)
Reports Published in the Last Week
Sector Specific
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