Photo: Alirod Ameri, via Flickr/CC

Report: Encrypted Smartphone Takedown Outed Canadian Mole

Mathew J. Schwartz • September 17, 2019

The Canadian government has arrested a senior intelligence official on charges of working as a mole. He was reportedly unmasked after investigators found someone had pitched stolen secrets to the CEO of Phantom Secure, a secure smartphone service marketed to criminals that authorities shuttered last year.

Artificial Intelligence & Machine Learning

Business Email Compromise Crackdown: 281 Suspects Busted

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Fraud Management & Cybercrime

Investigation Launched After Ecuadorian Records Exposed

Akshaya Asokan • September 17, 2019

An unsecured database owned by an Ecuadorian consulting company left over 20 million records on the South American country's citizens exposed to the internet, according to a report from two independent security researchers. An official investigation is underway.

Breach Notification

Brokerage Firm Hit With $500,000 Data Breach Penalty

Apurva Venkat • September 16, 2019

The U.S. Commodity Futures Trading Commission has hit Philips Capital Inc., a Chicago-based brokerage firm, with a $500,000 penalty for security missteps before and after a 2018 data breach, which resulted in the theft of $1 million from client accounts.

Governance

Life After Snowden: US Still Lacks Whistleblowing Rules

Mathew J. Schwartz • September 16, 2019

Ahead of the release of Edward Snowden's memoirs chronicling his decision to bring illegal "big data" domestic U.S. surveillance programs to light, a former NSA intelligence specialist points out that the U.S. still lacks a whistleblowing law to protect intelligence workers who spot illegal activity.

Cybercrime

Credit Card Theft Ringleader Pleads Guilty

Scott Ferguson • September 13, 2019

One of the three Ukrainian men charged with leading the notorious Fin7 hacking group, which prosecutors say stole 15 million payment cards, has pleaded guilty to two federal charges.

Multi-factor & Risk-based Authentication

PSD2 Authentication Requirements: The Implementation Hurdles

Geetha Nandikotkur • September 13, 2019

Because banks, fintech firms, merchants and payments processors in the EU have struggled to meet the Sept. 14 deadline for compliance with the new PSD2 "strong customer authentication" requirements for electronic payments, it may take a while for European consumers to notice authentication changes.

Cybercrime

For Sale: Admin Access Credentials to Healthcare Systems

Marianne Kolbasuk McGee • September 13, 2019

Cybercriminals are "upping their game" by stealing and then auctioning off on the dark web administrative access credentials to healthcare organizations' clinician and patient portals, says Etay Maor of IntSights.

Fraud Management & Cybercrime

Ransomware Gangs Practice Customer Relationship Management

Mathew J. Schwartz • September 13, 2019

Ransomware-wielding attackers treat infecting endpoints as a business and put customer relationship management principles to work, says Bill Siegel, CEO of ransomware incident response firm Coveware. He notes criminals "go after the low-hanging fruit because it's cheap and the conversion rate is high."

Governance

Tips on Countering Insider Threat Risks

Jeremy Kirk • September 13, 2019

Insider threats are difficult to counter. What happens when an employee goes rogue, and how do you catch them? Charles Carmakal of Mandiant, who says his firm is dealing with more insider threat investigations, shares tips for better defenses.

Account Takeover

Analysis: The Impact of Business Email Compromise Attacks

Nick Holland • September 13, 2019

This week's ISMG Security Report analyzes the cost of business email compromise attacks and the recent arrest of dozens of suspects. Also featured: updates on the easy availability of low-cost hacking tools and the latest payment card fraud trends.

Cybercrime

Attacks Targeting IoT Devices and Windows SMB Surge

Mathew J. Schwartz • September 12, 2019

Two years after WannaCry wreaked havoc via flaws in SMB_v1 and three years after Mirai infected internet of things devices en masse via default credentials, attackers are increasingly targeting the same flaws, security experts warn.

Cybercrime

Australia to Update National Cybersecurity Strategy

Akshaya Asokan • September 12, 2019

The Australian government is looking to update its national cybersecurity strategy by 2020. In preparation, it's released a discussion paper that seeks input from citizens, the business community, academics and other stakeholders.

Governance

Cyber-Intelligence Firm NSO Group Tries to Boost Reputation

Akshaya Asokan • September 12, 2019

Israel-based cyber-intelligence firm NSO Group, which has been accused of selling technology that enables governments to spy on citizens, is pledging to adopt human rights guidelines developed by the United Nations. But critics of the firm question whether its moves are meaningful.