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Fraud Management & Cybercrime

Operation Cronos Is Disrupting LockBit, Says UK Official

Akshaya Asokan  •  October 10, 2024

A British cybersecurity official touted Operation Cronos, an international operation against LockBit, saying multiple strikes aimed at the ransomware-as-a-service have disrupted its ability to recruit hackers. The operation has resulted in indictments, sanctions, and server takedowns.

Governance & Risk Management

SSA Struggling to Modernize Fraud Prevention Tech, GAO Warns

Chris Riotta  •  October 10, 2024

The Social Security Administration is facing criticism for failing to update its fraud prevention technology, leaving financial institutions and federal authorities at risk of missing synthetic identity scams, according to a new Government Accountability Office report.

Cybercrime

UK to Continue Disruptive Actions Targeting Cybercrime

Akshaya Asokan  •  October 9, 2024

The British government will continue disruptive actions against ransomware and malware operators, a top U.K. government official vowed Wednesday. Stephen Doughty, Minister of State, said the recently elected U.K. government views security as a core pillar of economic and strategic growth.

Cybercrime

Malicious Pixels: Criminals Revamp QR Code Phishing Attacks

Mathew J. Schwartz  •  October 9, 2024

Attackers are moving beyond using QR code images added to phishing emails to trick victims into visiting malicious sites, and using ASCII "full block" characters to build working QR codes designed to evade optical character recognition defenses, warns cybersecurity firm Barracuda Networks.

Cybercrime

LockBit and Evil Corp Targeted in Anti-Ransomware Crackdown

Akshaya Asokan , David Perera , Mathew J. Schwartz  •  October 1, 2024

Law enforcement from the United States, United Kingdom, France and Spain made a coordinated announcement Tuesday of further arrests, indictments, sanctions and server takedowns targeting the Russian cybercriminal underground including strikes against the LockBit ransomware-as-a-service operation.

Fraud Management & Cybercrime

White House Pledges Major Deliverables at Ransomware Summit

Chris Riotta  •  September 30, 2024

The International Counter Ransomware Initiative is kicking off a four-day summit Monday in Washington that aims to coordinate the group’s 68 member nations around a series of global efforts designed to enhance information sharing and develop strategies to deter ransomware attacks.

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CISO Trainings

CyberEdBoard Profiles in Leadership: Shervin Evans

Anna Delaney  •  September 30, 2024

Shervin Evans began his career as a programmer but he always knew his future was in cybersecurity. Now, 25 years later as an information security officer, he evangelizes about cybersecurity to employees in his organization, his family and the broader community.

Identity & Access Management

NIST Calls for Major Overhaul in Typical Password Practices

Chris Riotta  •  September 26, 2024

The National Institute of Standards and Technology is calling for longer, randomized passwords instead of memorized phrases containing combinations of upper and lowercase letters in new guidance that aims to modernize current password practices across the public and private sectors.

Cybercrime

Octo2 Malware Masquerades as Popular Apps

Prajeet Nair  •  September 24, 2024

A new version of the Octo Android malware is spreading across Europe, posing as legitimate apps such as NordVPN and Google Chrome. The latest iteration includes advanced anti-detection mechanisms and a domain generation algorithm for command-and-control communication.

Security Operations

Startup Torq Secures $70M to Advance Hyperautomation With AI

Michael Novinson  •  September 24, 2024

With $70 million in fresh capital, Torq is doubling down on its hyperautomation initiatives. The funding will enhance generative AI technologies that streamline security operations and provide autonomous threat investigation, alongside plans for broader U.S. and European market penetration.

Cybercrime

Telegram Pledges Closer Cooperation With Police

David Perera  •  September 23, 2024

Embattled Telegram CEO Pavel Durov signaled a more cooperative relationship with law enforcement, telling users Monday the messaging service will provide IP addresses and phone numbers "in response to valid legal requests." Durov faces criminal charges in France.

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Fraud Management & Cybercrime

Should UK Cut Fraud Reimbursement Cap for Smaller Banks?

Suparna Goswami  •  September 13, 2024

The U.K. Payment Systems Regulator wants to reduce the reimbursement cap on authorized push payment fraud to ease the burden on smaller banks. That's unacceptable and would undermine the financial system's integrity, said Jonathan Frost, board member at the Stop Scams Alliance.