Tag: cybercrime
Lloyd’s warns of a potential $3.5 trillion cyber-strike
According to Lloyds, a single well-orchestrated cyber strike breaching a financial services payments system could lead to losses of $1.1 trillion in the US alone, with global losses amounting to $3.5 trillion over a five-year period. China would face losses of around $470 billion and Japan $200 billion.
Cost of texting fraud rises fivefold in three years
The official cost of texting fraud in 2022 rose to $330 million, representing a fivefold increase since 2019, with an average cost of $1,000 to the victims concerned. But the US Federal Trade Commission (FTC), which issued the figures, acknowledges that this is only the tip of a gigantic cybercrime iceberg, as most phone scams go unreported.
Scattered Spider suspected to be behind Clorox Co breach – October 5th
The hacker group behind the recent breaches of major casino companies, called Scattered Spider, is suspected to be behind a recent attack against Clorox Co in Malaysia. This breach has led to a nationwide shortage of cleaning products and displays the same social-engineering tactics of Scattered Spider.
FBI sounds second call to arms to fight cybercrime
The US Federal Bureau of Investigation (FBI) is increasingly anxious to enlist the private sector in the losing battle it is fighting against global cybercrime and espionage. Speaking in Washington on Monday, FBI director Christopher Wray stressed the importance of “collaborative, public-private” operations in fighting cybercrime, developing a strategy previously outlined by FBI Deputy Director Paul Abbate at a Boston cybersecurity conference three months ago.
Europol aims to dismantle the EU’s Euro188bn criminal economy
The European Police Office (Europol)’s first-ever threat assessment on the topic, ‘The other side of the coin: an analysis of financial and economic crime in the EU’, aims to shine a spotlight on a EUR 188 billion-plus international underground criminal economy.
Ransomware attack erases months of government records
A massive ransomware attack cost the Sri Lankan government four months of data and spread to UK government offices, including the Cabinet Office.
Email Address Forging is a Real Threat – September 11th
In today's roundup; Addresses forged via email forwarding, the Sri Lankan attack causes government data loss, and Pune reports a spike in cybercrime cases.
Moriarty of cybercrime strikes again
The world’s most-wanted cybercriminal, Russia’s Mikhail Matveev, who already has a $10 million dollar bounty issued by the FBI, is believed to be behind the recent theft of thousands of documents stolen from the UK’s Ministry of Defence (MoD). While authorities are intent on taking him down, his reign of terror shows no signs of stopping.
GhostSec exposes Iran’s surveillance of its citizens – August 28th
Hackers hold Prospect Medical's data 'hostage' Hacker group Rhysida has been identified
LinkedIn accounts held for ransom in ongoing campaign
LinkedIn has become a byword for respectability and overall security. But all that has started to change, with the growing attention of cybercriminal gangs, firstly with false flags and, more recently, directly taking control of targeted individual LinkedIn accounts.
BlackCat sharpens its claws
Cybersecurity firm Coalfire reports that the ALPHV/BlackCat ransomware gang has been causing mayhem over the past year using a failsafe delivery system. The group suspects that the leaders of BlackCat are affiliated with the top ransomware gang, the infamous LockBit.
Connected EVs represent latest geopolitical cyber threat
Western governments’ stop-and-start race towards ‘net zero’ carbon emissions has produced a global cybersecurity crisis as a potentially hostile power, China, appears to be cornering the market in electric vehicles (EVs)