As ransomware continues to slam organizations, a lively debate has ensued about whether ransom payments should be banned in all cases. Attempting to ban ransom payments, however, likely would only make the problem worse.
A newly identified financially motivated threat group, dubbed "FIN11," is deploying Clop ransomware and exfiltrating data from its targets for extortion efforts, according to researchers at FireEye Mandiant.
As new payment trends emerge, such as the surge in ecommerce during the COVID-19 pandemic, payment card standards also must change, says Jeremy King of the PCI Security Standards Council, who will be a featured speaker at ISMG's Virtual Cybersecurity and Fraud Summit: London on Oct. 20.
A hacking group with suspected ties to Iran's government is again targeting universities in the U.S. and around the world, according to researchers with security firm Malwarebytes. "Silent Librarian" typically attempts to steal intellectual property.
Banking institutions are seeing a significant spike in multi-channel financial crimes. But Duncan Ash and Julio Gomez of Splunk say data and analytics can be key differentiators in the effort to protect sensitive financial data.
Cybercrime wouldn't exist as we know it today without there being a multitude of technologies and services that criminals have been able to turn to their advantage, and cryptocurrency is one of the prime examples, especially when it comes to ransomware, darknet markets and money laundering.
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.
Norway this week accused Russia of hacking the email system of the country's parliament, known as the Storting, in September. Russia calls the accusation "unacceptable."
Despite the takedown of the Trickbot botnet by Microsoft and others Monday, the malware is still functioning, and its operators retain the tools needed to rebuild their malicious network, some cybsersecurity experts say. So the impact, while significant, could prove to be temporary.
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.
Those selling "network access" on underground forums are adjusting their business models to take advantage of the huge influx of ransomware gangs that are looking for easier and more efficient ways to gain access to their targets, Accenture reports.
Citing a new government report, some U.K. lawmakers are demanding that efforts to remove Huawei's equipment from the country's 5G networks should be sped up. But some security experts question whether those concerns are legitimate.
Stop me if you think that you've heard this one before: The U.S., U.K. and some allied governments are continuing to pretend that criminals will get a free pass - and police won't be able to crack cases - so long as individuals and businesses have access to products and services that use strong encryption.
Microsoft collaborated with cybersecurity companies and government agencies to take down the million-device Trickbot botnet in an effort to help protect the Nov. 3 U.S. election and stop the global spread of ransomware and other malware.
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