Tag: europe
Identifying fraudsters on the internet
In an exclusive interview with Cyber Intelligence, Patrick Harding, chief product architect at digital identity security company, Ping Identity, outlines the growing threat of identity theft and fraud, explaining how it evolved and what can be done to counter it. Everybody is forced into digital transactions and relationships and identity management is fundamental to knowing who you are interacting with. The problem goes back to the beginning of the internet in the 1990s and a cartoon of a dog in front of a computer with the caption, “On the internet no-one knows you’re a dog!” That really illustrates the core problem of identifying online users and customers. The extent to which this is carried out largely depends on the sensitivity of the activity concerned. There is a big difference between buying a pair of jeans online and opening a bank account. In both cases, there is a significant series of steps which could include requesting passport ID for financial services.
Cybercriminals capitalize on CrowdStrike outage
Organized cybercriminal gangs have lost little time in attempting to cash in on the ongoing CrowdStrike/Windows outage currently affecting banks, airlines and businesses. According to the UK’s National Security Cyber Centre: “An increase in phishing referencing this outage has already been observed, as opportunistic malicious actors seek to take advantage of the situation. This may be aimed at both organizations and individuals.”
Game over for European criminal botnet networks
An international operation coordinated by Europol has resulted in several arrests and the takedown of numerous cybercriminal networks. The operation focused on tackling the growing problem of the weaponization of botnets, which are strings of connected computers. Cybercriminal gangs use botnets to install droppers, a type of malicious software designed to install other malware, such as ransomware, onto a targeted system. Between 27 and 29 May of this year, Europol’s “Operation Endgame” targeted droppers, including IcedID, SystemBC, Pikabot, Smokeloader, Bumblebee, and Trickbot. The actions focused on disrupting criminal services, making arrests, taking down criminal infrastructures, and freezing illegal proceeds.
‘Hacktivists’ target environmental services
Politically-motivated hacking, known as ‘hacktivism’, is now on the rise across large sections of the globe. Politically motivated groups are increasingly attacking their enemies with primitive but effective distributed denial-of-service (DDoS) attacks, which involve overwhelming the target’s servers with vast volumes of internet traffic. But, according to cybersecurity firm Cloudflare’s DDoS Threat Report, the organizations being targeted most are environmental agencies pursuing green agendas such as Net Zero. While Cloudflare reported an overall increase of 117 percent in DDoS attacks around Black Friday and the holiday season, DDoS attacks on environmental agencies have soared over sixty-thousand-fold over the same period.
Fraudulent LinkedIn Profiles Targeting Saudi Workers for Corporate Data Leaks – December 12th
Revealed in a presentation at last month's Black Hat Middle East and Africa conference, was a corporate information leak tactic targeting Saudi Arabian workers using fraudulent LinkedIn profiles. The LinkedIn attacks start with fraudulent accounts pretending to be Muslim women in their 20s who say they work in Southeast Asia. Once the connection is made, attempts to harvest sensitive corporate information through long, seemingly legitimate professional conversations ensue.
AutoSpill Attack May Lead to Stolen Android Credentials – December 11th
Researchers from the International Institute of Information Technology (IIIT) presented a new attack named 'AutoSpill' that enables attackers to steal account credentials on Android devices via an autofill operation, during the Black Hat Europe security conference. IIIT researchers pinpointed WebView, the Android feature used to open external links through an internal browser view as the starting point of the security flaw, leaving autofilled usernames and passwords vulnerable.
LockBit Keeps Role as Biggest Global Ransomware Threat in 2023 – December 7th
According to a report by ZeroFox, LockBit was involved in more than a quarter of global ransomware and digital extortion (R&DE) attacks in 2023. The report found 30% of LockBit's attacks target Europe and 25% in North America. Despite remaining the global leader in ransomware, ZeroFox notes there to be a downward trajectory in the number of LockBit's attacks compared to 2022.
AI “overrated and overhyped” say cybercriminals
The verdict on artificial intelligence (AI) from the real experts is finally in; professional cybercriminal fraternities have judged AI to be “overrated, overhyped and redundant,” according to fresh research from cybersecurity firm Sophos. It has, hitherto, been accepted wisdom in the cybersecurity industry that cybercriminals, free from any regulatory authority or moral scruples, were among the first to harness the awesome power of AI to create bespoke and virtually unstoppable malware. However, having infiltrated the Dark Web forums where top professional cybercriminals discuss their trade, Sophos reports that the cybercrime sector has thoroughly tested the capabilities of AI and found it wanting.