Ransomware Groups Refine Shakedown and Monetization Models

Mathew J. Schwartz • August 12, 2022

Ransomware-wielding attackers continue to seek new ways to maximize profits with minimal effort. Top tactics spotted recently by experts include continuing to partner with initial access brokers and botnet operators and testing new monetization models, such as "mediation as a service."

►

Cybercrime

Russia-Ukraine War: Over 300 Cyber Operations Seen So Far

Latest

Account Takeover Fraud

Updated Android Trojan Features Ransomware Capabilities

Prajeet Nair • August 13, 2022

An updated version of the Russian-linked SOVA Android Trojan is back with updated attack techniques targeting more than 200 mobile applications, including banking apps and crypto exchanges/wallets. Researchers at Cleafy uncovered that the Trojan now also features ransomware capabilities.

Endpoint Security

Feds Warn Healthcare Entities of 'Evernote' Phishing Scheme

Marianne Kolbasuk McGee • August 12, 2022

A "secure message-themed" phishing campaign targeting healthcare providers aims to lure recipients to an Evernote notepad website in an attempt by hackers to harvest security credentials, federal authorities warn, saying the scheme puts entities at risk for potential data security compromises.

Government

Lawmakers Request 'Urgent' Cyber Briefing With HHS Leaders

Marianne Kolbasuk McGee • August 12, 2022

The co-chairs of Congress' Cyberspace Solarium Commission request an "urgent briefing" with Biden administration officials to discuss the state of cybersecurity in the healthcare and public health sector and call for actions to address rising cyberthreats.

Anti-Money Laundering (AML)

ISMG Editors: Analyzing the Twilio Breach

Anna Delaney • August 12, 2022

In the latest weekly update, four ISMG editors discuss the breach of customer engagement platform Twilio, a cyberattack on the U.K.'s NHS that has reignited concerns about supply chain security in the healthcare sector, and the U.S. Treasury clamping down on shady cryptocurrency mixers.

Governance & Risk Management

Zero Trust: Incorporate Critical, Systems, Design Thinking

Tom Field • August 12, 2022

Enterprises spend a lot of time on what zero trust is, but too little time on design thinking - and why cybersecurity solutions need that element baked in from the start. Brian Barnier and Prachee Kale of ThinkDesignCyber and CyberTheory Institute give an overview of their zero trust strategy.

Black Hat

Black Hat: Incident Recovery, Threat Hunts & Blockchain Woes

Michael Novinson • August 12, 2022

Security executives at Black Hat USA 2022 discuss the latest cybersecurity trends from confidential computing and unified threat hunting languages to attack surface management and recovery services, social engineering campaigns and blockchain vulnerabilities.

Governance & Risk Management

Ex-Twitter Employee Found Guilty of Spying for Saudi Arabia

Mihir Bagwe • August 11, 2022

A U.S. federal jury convicted former Twitter employee Ahmad Abouammo for spying on Saudi Arabian dissidents on behalf of Saudi Arabia. The jury also found him guilty of conspiracy to commit wire fraud, falsification of records and money laundering.

Business Email Compromise (BEC)

Alleged Business Email Compromise Fraudsters Extradited

Prajeet Nair • August 11, 2022

Three Nigerian nationals accused of participating in multimillion-dollar business email compromise fraud with a fixation on universities arrived in the United States after extradition from the United Kingdom. They allegedly attempted to steal more than $5 million.

Blockchain & Cryptocurrency

FTC Probes BitMart After $200M Theft at Crypto Exchange

Rashmi Ramesh • August 11, 2022

A newly disclosed probe shows the Federal Trade Commission is investigating operators of BitMart, a cryptocurrency platform that lost $200 million of investor funds in one of the biggest crypto cyberattacks of 2021. The agency is scrutinizing the companies to see if they misled consumers.

3rd Party Risk Management

Ransomware Attack Caused NHS IT Outage, Says Vendor

Marianne Kolbasuk McGee • August 11, 2022

Advanced, a critical software and services vendor to the U.K.'s National Health Service, confirms a ransomware attack by "financially motivated" threat actors is behind an IT outage that is still disrupting various NHS services, including 111. Some disruptions could last for weeks, the company says.

Training & Security Leadership

Profiles in Leadership: Bruce Phillips

Tom Field • August 11, 2022

As CISO of West, a Williston Financial Group company, Bruce Phillips recognizes that cybersecurity is not the enterprise's core business. But what, then, is the right level of cybersecurity to bring to a nonsecurity business? He discusses this and other leadership challenges.

Governance & Risk Management

FTC Initiates Privacy and Data Security Rule-Making

David Perera • August 11, 2022

U.S. companies could see new cybersecurity rules and restrictions on consumer data collection under a rule-making process initiated by the FTC. No regulatory outcome is guaranteed, but today's advanced notice of proposed rule-making is a first step to new data security and privacy regulations.