Attackers have been actively exploiting a flaw in Rackspace's hosted email service to send phishing emails, bearing legitimate and validated domain names, as part of business email compromise scams, warns IT security testing consultancy 7 Elements. Rackspace tells customers it plans to fix the problem soon.
The U.K. NCSC responded to over 700 cyber incidents over a 12-month period, 200 of which were related to the COVID-19 pandemic, according to the cyber agency's annual report. NCSC also notes that's it's preparing to step-up its response to cyber incidents involving the NHS and vaccine development.
Business email compromise scams continue to proliferate around the globe, with the U.S. now second only to Nigeria as a home base for the cybercriminal organizations waging the campaigns, according to a study by the security firm Agari.
Ransomware attacks remain the top cyber-enabled threat seen by law enforcement. But phishing, business email compromises and other types of fraud - many now using a COVID-19 theme - also loom large, Europol warns in its latest Internet Organized Crime Threat Assessment.
A recently uncovered business email compromise scam that's targeting executives' Microsoft Office 365 accounts has hit over 150 organizations worldwide so far and netted the scammers about $15 million, according to incident response firm Mitiga.
The 'work from anywhere' experience has fundamentally changed how we work - and how cyber adversaries leverage email as an attack vector. Daniel McDermott and Gar O'Hara of Mimecast outline a holistic approach that focuses on email defense, awareness and response.
The average amount stolen in a business email compromise scam increased 48% during the second quarter of 2020, but the number of attacks decreased during that period, the Anti-Phishing Working Group reports.
To help mitigate the risks posed by business email compromise scams that target privileged users, enterprises need to create a detailed enterprise risk management plan that spells out procedures to secure accounts, says Espen Otterstad, CISO at Norwegian telematics company ABAX AS.
The operators behind the AgentTesla remote access Trojan have upgraded the infostealer with additional capabilities, including the ability to steal credentials from VPNs, web browsers, FTP files and email clients, Sentinel Labs reports. The low-cost malware is used in BEC scams and other campaigns.
A recently uncovered BEC scam has targeted the Office 365 accounts of executives at over 1,000 companies worldwide, collecting more than 800 sets of credentials in an attempt to commit payment fraud, according to Trend Micro.
The day after President Trump issued executive orders to ban Chinese-owned social media apps TikTok and WeChat, Sanjay Virmani of the FBI's San Francisco office shared insights on the Chinese cyberthreat, election security and crime trends in the wake of COVID-19.
The speed at which IoT is enabling innovation is far outpacing the ability of the security custodians to implement appropriate controls before these devices hit the market. That creates a classic target-rich environment for the bad guys - one that will require vigorous defense and oversight.
The U.S. Secret Service is combining its electronic and financial crime units into a single task force that will focus on investigating cyber-related financial crimes, such as BEC schemes and ransomware attacks. The move comes as lawmakers push for the Secret Service to take a more active role in fighting cybercrime.