Tag: spear-phishing
$1bn Korean bust is tip of SE Asian cybercrime iceberg
Authorities in Korea and Beijing dismantled a sprawling voice phishing syndicate responsible for financial losses totaling US$ 1.1 billion. But South-East Asian observers believe this to be only the tip of an impenetrable iceberg of cybercrime in South-East Asia that is rapidly starting spread around the globe. The Korean bust was part of an Interpol-co-ordinated global operation involving law enforcement from 40 countries, territories, and regions and has ended with the arrest of over 5,500 financial crime suspects and the seizure of more than US$400 million in virtual assets and government-backed currencies.
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.”
Insider attacks rise by over 50 percent
Insider attacks, where staff either deliberately or accidently compromise an organization’s security, are rising steeply. According to Cybersecurity firm, Gurucul, almost half of organizations, 48 percent, report that insider attacks have become increasingly common over the last 12 months. Just over half, 51 percent, experienced six or more such attacks in the past year. Gurucul’s 2024 Insider Threat report identifies the major causes for the sudden spike in insider attacks: “The top three drivers behind the surge in insider attacks are complex IT environments (39 percent), the adoption of new technologies (37 percent), and inadequate security measures (33 percent).”
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.
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.”
Sharp rise in blindside cyber-attacks
More than one in five cybersecurity professionals report having had a cyber hit requiring immediate attention despite having threat-based detection and response security measures in place. According to a survey conducted by cybersecurity firm Criticalstart, 2024 Cyber Risk Landscape Peer Report, 2023’s figure of 83 percent represents a 21 percent increase from 2023. Criticalstart also reports a sharp rise in the cost of data breaches. The average cost of a data breach reached an all-time high of $4.45 million in 2023 - a 15 percent increase over the past three years. Organizations with under 500 employees reported an average breach-impact increase from $2.92 million to $3.31 million—a rise of 13.4%.
November’s Ransomware Leak Victims Reach Record High – December 25th
A record-high 484 ransomware victims were posted on publicly available sites in November 2023, according to a Corvus Insurance report. The spike in ransomware victims' information being leaked reflects a 39.08% increase compared to October 2023 and a staggering 110.43% increase compared to November 2022.
UK Foreign Office hack reveals major security weaknesses
The UK Foreign Office's culture of secrecy kept the details of the extent of a 2021 breach that endangered its staff and allies until now.