21 Jan 2019

Cybercrime could cost companies trillions over the next five years

A new report(pdf) by Accenture indicates that over the next 5 years, cyberattacks could result in global costs totaling $5.2 trillion. That amount includes both lost revenue for companies and the expenses businesses are likely to incur due to attacks. The high costs have to do with the growth of

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17 Jan 2019

Compromised ad company serves Magecart skimming code to hundreds of websites

In a massive new Magecart campaign, hackers have inserted malicious payment card skimming code into “277 e-commerce websites providing ticketing, touring, and flight booking services as well as self-hosted shopping cart websites from prominent cosmetic, healthcare, and apparel brands”. Magecart is an umbrella term for various criminal groups that attack e-commerce

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16 Jan 2019

BEC Scammers Go After Employee Paychecks

Cybersecurity experts have noticed an uptick in business email compromise (BEC) scams in which threat actors go after monthly employee paychecks. The scam starts with a threat actor impersonating an employee of a targeted company in an email to the firm’s department that is in charge of payroll. The crook will

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15 Jan 2019

Don’t Ignore These 10 Global Business Risks In 2019

In order for companies to thrive in 2019, business leaders need to prepare for a great number of cyberthreats and other risks. According to Chloe Demrovsky, CEO of Disaster Recovery Institutce International (DRI), the most important risks include the potential start of a new worldwide financial crisis; steep fines companies may need

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15 Jan 2019

Criminals wielding Ryuk ransomware specialize in targeting enterprises

Research by CrowdStrike and FireEye sheds light on the success and modus operandi of Grim Spider, the threat group behind Ryuk ransomware. Over the last six months, Grim Spider has only gone after enterprises, a strategy that seems to be paying off, since the threat actors have already earned about $3,7 million

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14 Jan 2019

Filled with malware, phishing and scams, does the web need a safety manual?

Cybercrime is a booming economy estimated to cost the world $600bn per year. Naturally, the rise of cybercrime is connected to the ever-increasing importance of the Internet in modern life. However, one major reason for the success of cyber criminals is the fact that very few people receive proper security

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10 Jan 2019

Magecart Mayhem Continues in OXO Breach

American home goods manufacturer OXO International has suffered a data breach involving multiple windows of compromise between June 2017 and October 2018. The breach was most likely the result of a Magecart attack. Magecart refers to various cybercriminal groups known for attacking e-commerce sites and installing digital credit card skimmers onto compromised checkout

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09 Jan 2019

Phone fraudsters are stealing billions each year through a scheme known as IRSF

According to the Communications Fraud Control Association, telcos and consumers have lost over $38 billion to phone fraudsters over the last decade. The most lucrative scam, accounting for $4 – $6 billion in damages, has been International Revenue Share Fraud (IRSF). IRSF takes advantage of premium phone numbers that charge

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08 Jan 2019

Coinbase suspends Ethereum Classic (ETC) trading after double-spend attacks

Coinbase, a popular cryptocurrency trading platform, has suspended trading of the Ethereum Classic (ETC) currency after it discovered that criminals have been carrying out double-spend attacks on the ETC blockchain for the past few days, starting on January 5. Double-spend attacks require malicious actors to obtain at least 51% of the

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02 Aug 2018

Three Ukrainians Arrested for Hacking Over 100 US Companies

“Three Ukrainians have been arrested for hacking more than 100 US companies and stealing millions of customer records, the Department of Justice announced Wednesday. ‘Since at least 2015, FIN7 members engaged in a highly sophisticated malware campaign targeting more than 100 US companies, predominantly in the restaurant, gaming, and hospitality

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