Lack of internal resources and exploding cybercrime a ‘perfect storm’ for CISOs and their teams RiskIQ, the leader in digital threat management, today announced the release of its 2018 CISO Survey, revealing that 89.1 percent of all information security leaders are concerned about the rise of digital threats they are experiencing across web, social and mobile channels. Some 1,691 U.S. and U.K information security leaders across multiple verticals, including enterprise, consulting, government and education, provided insights into their cyber risk concerns and plans for 2018. Overall, the survey revealed a coming “perfect storm,” where the problem of staff shortages collides with escalating…
ISBuzz Team
Indian banking system is among the most convenient and trusted in the world, but Indian banks can do more to put consumer centricity to the core of their strategy and make open banking the obvious path to prosperity, says leading data and analytics company GlobalData. According to GlobalData’s Retail Banking, Customer Insight Survey, 2017, India has taken several measures including granting new banking licenses to stir up competition, introducing the unified payment interface (UPI) to ensure inter-operability across the new eco-system, and demonetization to increase digital payment volumes and set up a supporting infrastructure for open banking. IMAGE FOR PUBLICATION: Importance…
~ Over half of companies with a ready stock of Bitcoin have sold off some of their supply to profit from soaring valuations ~ Today, new research suggests that half (50 per cent) of large UK businesses have built a stockpile of digital currency in case of a ransomware attack – and just seven per cent are only stockpiling Bitcoin. In fact, the vast majority (93 per cent) are spreading their cryptocurrency risk by investing in other digital currencies as well. The research – commissioned by Citrix and carried out by OnePoll – quizzed 750 IT decision makers in companies with 250 or more…
Check Point’s latest Global Threat Index reveals that rapid rise in cryptomining malware severely impacting organizations in January 2018 Check Point a leading provider of cybersecurity solutions globally, has revealed that cryptomining malware continues to impact organizations globally as 23% were affected by the Coinhive variant during January 2018, according to the company’s latest Global Threat Impact Index. Check Point’s researchers discovered three different variants of cryptomining malware in its Top 10 most prevalent ranking, with Coinhive ranking first, impacting more than one-in-five organizations. Coinhive performs online mining of Monero cryptocurrency when a user visits a web page without the user’s approval. The…
Renewable energy technologies have established a significant role in the energy industry. Because of their prominence and growing importance to power supplies, it is vital for the industry to develop appropriate security, and specifically cybersecurity, strategies. A new report from energy sector experts, The Renewables Consulting Group (“RCG”), and cybersecurity specialists, Cylance Inc. (“Cylance”), provides insight into cybersecurity for the renewable energy industry, focusing on threat and impact assessment, and on measures to improve cyber protection. Cyber-attacks targeting critical infrastructure have increased over recent years. Cybersecurity threats include ransomware, fileless attacks, advanced persistent threats (APTs) and Trojans. The security of…
Following the news that the Winter Olympics opening ceremony was hacked, Ryan Sherstobitoff, Senior Analyst at McAfee commented below. Ryan Sherstobitoff, Senior Analyst at McAfee: “A new variant of the malicious documents targeting the Winter Games was discovered by McAfee Advanced Threat Research analysts just a few days prior to opening ceremonies. The new document contained the same metadata properties as those related to Operation GoldDragon and sought to gain persistence on systems owned by organizations involved with the Winter Games. It is clear attacks are ongoing and are likely to continue throughout the duration of the games, what is…
Earlier this week, news broke that residents of Britain, the United States, and several other countries, are among 36 defendants charged for their alleged involvement in a cyber crime operation responsible for more than $530 million (€433 million) of losses to consumers, businesses, and financial institutions. According to a statement, the US Justice Department said the cyber crime ring was one of the largest it had ever prosecuted, and had targeted millions of people around the world. Operating under the slogan “In Fraud We Trust,” members of the Infraud Organization used an online forum to purchase and sell stolen identities, credit cards,…
Following news that The Information Commissioner’s Office (ICO) took down its website after a warning that hackers were taking control of visitors’ computers to mine cryptocurrency. Fabian Libeau, VP at RiskIQ commented below. Fabian Libeau, VP at RiskIQ: “We are seeing threat actors around the world exploiting what is already a hostile currency in a lawless digital world. Threat actors hack vulnerable sites or spin up fake, illegitimate websites to siphon money off of major brands, often with typosquatting domains and fraudulent branding. By leveraging domains or subdomains that appear to belong to major brands, these actors trick people into…
The Belgian Federal Police is today releasing free decryption keys for the Cryakl ransomware, after working in close cooperation with Kaspersky Lab. The keys were obtained during an ongoing investigation; and by sharing the keys with No More Ransom the Belgian Federal Police becomes a new associate partner of the project – the second law enforcement agency to do so after the Dutch National Police. In the last few years, ransomware has eclipsed most other cyber threats, with global campaigns now indiscriminately affecting organisations across multiple industries in both the public and private sectors, as well as consumers. One of…
The threat landscape is evolving and with attacks becoming more sophisticated, every business, no matter its size or the industry it’s in, is at risk. According to Microsoft, the potential cost of cybercrime is $500billion, with data breaches costing the average company approximately $3.8million. While the potential financial impact is eye-wateringly large, these costs are only set to grow. It is predicted that the average cost of a data breach will exceed $150million by 2020 and by 2019, cybercrime will cost businesses over $2trillion. This isn’t good news for businesses, especially now the days when a firewall alone was sufficient…