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Seedworm Operation Spreads Malware via Phishing Attacks

2018 has been a busy year for new threats spread via email, with spear-phishing and Business-Email-Compromise (CEO fraud) the rising star for cyber-criminals intent on draining your bank account. Recent victims include Google and Facebook ($100 million lost), McEwan University (almost $12 million lost), a New York judge ($1 million), and a Dutch cinema chain (over $21.5 million). These threats … [Read more...]

Business email compromise scam costs Pathé $21.5 million

Recently released court documents show that European-based cinema chain Pathé lost a small fortune to a business email compromise (BEC) scam in March 2018. How much? An astonishing US$21.5 million (roughly 19 million euros). The attack, which ran for about a month, cost the company 10 percent of its total earnings. What is business email compromise? Business email compromise is a type of phishing … [Read more...]

Four-Step Swindle: The Anatomy of a Business Email Compromise Attack

This week, we continue our series on Business Email Compromise. Click here to read Part 1, which includes an overview and various statistics on this growing threat. It takes time and effort to launch a successful Business Email Compromise (BEC) attack. In a typical attack, several messages are exchanged in an attempt to convince the target to authorize large payments to the attacker’s bank … [Read more...]

How to create a sticky cybersecurity training program

Organizations know that training employees on cybersecurity and privacy are not only expensive but time-consuming. However, given that current threats are targeting businesses more than consumers, introducing and teaching cybersecurity and privacy best practices in the workplace has undoubtedly become an absolute must. Creating a successful training program is a massive undertaking. It doesn’t … [Read more...]

A week in security (July 16 – July 22)

Last week on Labs, we looked at a Magniber expansion, explored open source vulnerabilities, and checked out the boons and drawbacks of smart assistants. We also continued our ad blocking article extravaganza, gave a whistlestop tour of third-party problems, and published our Q2 Cybercrime tactics & techniques report. Other news: Huge data breach in Singapore (Source: Straights Times) Venmo … [Read more...]