It has been reported that a Dubai-based exhibitions firm has lost $53,000 (Dh194,700) in an elaborate phishing attack. Binu Manaf, CEO and managing director of Cheers Exhibition, said a cybercriminal hacked his firm’s email and then used a spoofed email to trick its client to wire the funds into an overseas bank.The CEO said he didn’t realise the company’s email account had been hacked until one of his clients enquired if he had sent out emails seeking payments into an overseas account instead of a local bank in Dubai.
Experts Comments
Linkedin Message
@Peter Draper, Technical Director, EMEA, provides expert commentary at @Information Security Buzz.
"This is especially important as this type of attack is becoming much more prevalent and lucrative...."
#infosec #cybersecurity #isdots
https://informationsecuritybuzz.com/expert-comments/dubai-company-loses-53000-in-targeted-cyber-attack
Facebook Message
@Peter Draper, Technical Director, EMEA, provides expert commentary at @Information Security Buzz.
"This is especially important as this type of attack is becoming much more prevalent and lucrative...."
#infosec #cybersecurity #isdots
https://informationsecuritybuzz.com/expert-comments/dubai-company-loses-53000-in-targeted-cyber-attack
Linkedin Message
@Aaron Zander, Head of IT, provides expert commentary at @Information Security Buzz.
"When CEOs sit in an ivory tower or are known to make rash and unplanned requests, they can also be impersonated more easily...."
#infosec #cybersecurity #isdots
https://informationsecuritybuzz.com/expert-comments/dubai-company-loses-53000-in-targeted-cyber-attack
Facebook Message
@Aaron Zander, Head of IT, provides expert commentary at @Information Security Buzz.
"When CEOs sit in an ivory tower or are known to make rash and unplanned requests, they can also be impersonated more easily...."
#infosec #cybersecurity #isdots
https://informationsecuritybuzz.com/expert-comments/dubai-company-loses-53000-in-targeted-cyber-attack
Linkedin Message
@Bindu Sundaresan, Director , provides expert commentary at @Information Security Buzz.
"Two-way verification helps companies to solve the problem of this type of financial fraud by implementing a company-wide policy...."
#infosec #cybersecurity #isdots
https://informationsecuritybuzz.com/expert-comments/dubai-company-loses-53000-in-targeted-cyber-attack
Facebook Message
@Bindu Sundaresan, Director , provides expert commentary at @Information Security Buzz.
"Two-way verification helps companies to solve the problem of this type of financial fraud by implementing a company-wide policy...."
#infosec #cybersecurity #isdots
https://informationsecuritybuzz.com/expert-comments/dubai-company-loses-53000-in-targeted-cyber-attack
Linkedin Message
@Dr. Muhammad Malik, Editor-in-Chief, provides expert commentary at @Information Security Buzz.
"The company should also security assess their business processes to reduce the risk affecting CIA of the information processed by the process...."
#infosec #cybersecurity #isdots
https://informationsecuritybuzz.com/expert-comments/dubai-company-loses-53000-in-targeted-cyber-attack
Facebook Message
@Dr. Muhammad Malik, Editor-in-Chief, provides expert commentary at @Information Security Buzz.
"The company should also security assess their business processes to reduce the risk affecting CIA of the information processed by the process...."
#infosec #cybersecurity #isdots
https://informationsecuritybuzz.com/expert-comments/dubai-company-loses-53000-in-targeted-cyber-attack
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Linkedin Message
@Gavin Millard, VP of intelligence , provides expert commentary at @Information Security Buzz.
"Email is a critical business tool that needs to be protected as such, continuously identifying flaws...."
#infosec #cybersecurity #isdots
https://informationsecuritybuzz.com/expert-comments/dubai-company-loses-53000-in-targeted-cyber-attack
Facebook Message
@Gavin Millard, VP of intelligence , provides expert commentary at @Information Security Buzz.
"Email is a critical business tool that needs to be protected as such, continuously identifying flaws...."
#infosec #cybersecurity #isdots
https://informationsecuritybuzz.com/expert-comments/dubai-company-loses-53000-in-targeted-cyber-attack