Tag: phishing
Seasonal cybercrime bonanza is under way
Cybercriminals now have an unprecedented of highly effective custom-made tools designed to defraud online retailers and shoppers during the holiday season. “As we approach the end of 2024, the upcoming holiday season and events like Thanksgiving, Black Friday, Cyber Monday, and Christmas bring millions of shoppers online with attractive discounts and limited-time offers. They also create ideal conditions for cybercriminals to exploit users and shoppers,” warns threat intelligence firm FortiGuard in its report, Threat Actor Readiness for the Upcoming Holiday Season.
Scammers circling Black Friday shoppers
Scammers have stolen £11.4 billion from UK citizens over the last 12 months. According to the Global Anti-Scam Alliance’s (GASA) latest report, The State of Scams in the UK, conducted in association with the UK’s leading fraud prevention service, Cifas, this represents an increase of £4 billion over the previous year. With the Black Friday sales bonanza looming on both sides of the Atlantic, the findings come as a timely warning to online shoppers. GASA and Cifas anticipate a further spike in scam attempts this week and re-urging consumers to remain vigilant. The warning comes as 1 in 7 (15 percent) consumers surveyed said they lost cash to criminals in 2024, an increase from 10 percent in 2023. The average loss per victim was £1,400, and only 18 percent of victims recovered all their money.
Copyright infringement scam goes global
Since July of this year, cybersecurity firm Check Point has been tracking an ingenious form of online fraud that is rapidly spreading across the US, Europe, East Asia and South America. The attackers impersonate dozens of legitimate companies, claiming the victim’s organization has infringed their copyright. Weaponized emails, which appear to come from the legal representatives of the impersonated companies, accuse the recipient of misusing their brand on the target’s social media page and requesting the removal of specific images and videos. The phishing emails are typically sent from Gmail accounts and prompt recipients to download an archive file. which then installs the latest version of the Rhadamanthys infostealer stealer (version 0.7) in order to steal critical information from the victim’s organization.
Russian secret service steps up cyber-attacks on the West
Software giant Microsoft has made an urgent public announcement that the Russian secret service is currently sending thousands of weaponized spear-phishing emails to key individuals in over 100 organizations in countries including the US and the UK. According to Microsoft: “The emails were highly targeted, using social engineering lures relating to Microsoft, Amazon Web Services (AWS)… In some of the lures, the actor attempted to add credibility to their malicious messages by impersonating Microsoft employees.”
Hackers infiltrate SEC’s X Account to Boost Bitcoin
A cybercriminal in Alabama, suspected of hacking into the US Securities and Exchange Commission’s (SEC’s) X account, has been arrested. He is accused of using the compromised account to post fake messages, causing the value of Bitcoin to boost by $1,000. Hacker Eric Council Jr, also known as “EasyMunny” and “AGiantSchnauzer,” was allegedly able to secure the credentials for the SEC’s X account through a method called “Sim Swapping.” The council created a fake ID using the stolen personal information of someone who had access to the X account. With the fake ID, he was able to purchase a SIM card linked to the victim’s phone in a cellphone provider store in Alabama, giving Council access to the victim’s personal information and log-in credentials.
Cybercriminals ramp up AI-driven deepfake scams
Cyber toolkits for threat actors are now harnessing the latest deepfake technology and artificial intelligence (AI) for targeted email attacks, known as ‘spear-phishing.’ According to cloud cybersecurity firm Egress, a staggering 82 percent of phishing toolkits mentioned deepfakes, and 75 percent referenced AI. The growing threat presented by the use of deepfakes by cybercriminals was highlighted earlier this year at InfoSecurity Europe in London. Widely available toolkits now enable even relatively unskilled hackers to create highly convincing video and audio clips of chief executives (CEOs) and other senior staff members in any specific organization. All the threat actor needs is a short video clip of the person they wish to impersonate. This can easily be copied from a corporate seminar or from a video podcast.
A Deluge of Powerful Fraud Tactics Are Giving Businesses Trust Issues
It feels like fraudsters are consistently staying one step ahead of us. Back in early 2022, a study found that one out of every four accounts made online was fake—and that number has only gotten worse. The auto lending industry, for example, saw a staggering $7.9 billion in losses due to a 98% spike in synthetic fraud in 2023. They’re not alone in fending off more fraud attempts than ever as malicious actors turn to generative artificial intelligence to increase both the sophistication and the sheer number of fake accounts trying to bypass verification steps and swindle businesses. The increase we’ve seen in synthetic identities is causing a new host of problems. Not only are more businesses finding themselves with fake customers in their systems—financial institutions mistakenly giving credit to synthetic identities, colleges and universities grappling with applications from fake students, and more—but some of the measures being taken to tamp down on fraudsters’ relentless advances have had the unfortunate side effect of pushing away legitimate customers.
Chinese phisher steals top US military secrets
This week, the US Department of Justice (DOJ) announced criminal charges against a Chinese national, Song Wu, accused of wire fraud and aggravated identity theft in an effort to obtain National Aeronautics and Space Administration (NASA) computer software and source code. The DOJ has now revealed that the specialized software allegedly stolen by Song could be used by potentially hostile enemies to attack the US. According to the DOJ, the stolen software could be used for “industrial and military applications, such as development of advanced tactical missiles and aerodynamic design and assessment of weapons.”
“Voldemort” impersonates tax authorities worldwide
A threat actor named “Voldemort” is impersonating tax authorities from governments in Europe, Asia, and the US – targeting dozens of organizations worldwide. Cybersecurity company Proofpoint believes “with moderate confidence” that Voldemort’s ultimate goal is cyber-espionage. Since August 5 this year, Voldemort, named after the main villain in J. K. Rowling’s Harry Potter children’s books, has sent over 20,000 messages purported to be from various tax authorities to over 70 organizations around the world. The threat actor poses as the US Internal Revenue Services, the UK’s HM Revenue & Customs, France’s Direction Générale des Finances Publiques, Germany’s Bundeszentralamt für Steuern, Italy’s Agenzia delle Entrate, India‘s Income Tax Department and Japan’s National Tax Agency.
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.”
Levi’s breach exposes 72k customer details
Over 72,000 US consumers may have had their account details compromised following a cyber-attack on denim clothing giant Levi Strauss & Co. Almost two weeks ago, on June 13, Levi’s spotted an unusual spike in activity on its consumer-facing website and immediately realized its users were under threat. “Our investigation showed characteristics associated with a “credential stuffing” attack where bad actor(s) who have obtained compromised account credentials from another source (such as a third-party data breach) then use a bot attack to test these credentials against another website – in this case www.levis.com,” said Levi’s in a published notice detailing the data breach.
AI-engineered email attacks are on the rise
Email scams aimed at business users are becoming increasingly sophisticated and increasingly tough to detect. Threat actors are now using artificial intelligence to research their targets in advance of an attack, a process known as ‘social engineering.’ Phishing attacks and email scams that appear to come from a trusted source make up 35.5% of all socially engineered threats, according to a report from cybersecurity firm Barracuda: Top Email Threats and Trends. Although these types of attacks have been around for some time, cybercriminals have recently devised ingenious new methods to avoid detection and being blocked by email-scanning technologies.