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Recent Business Email Compromise (BEC) Scams are Reminder to Educate Users

Online scams are nothing new. But as email has evolved and improved, so have scammers and the messages they send. Nefarious emails, attachments and links now appear sophisticated and look legitimate, sometimes tricking even the most meticulous user. Billions Lost to Business Email Compromise Over the last three years, organizations all over the world have lost a collective $26B to a very specific … [Read more...]

Europol: Ransomware remains top threat in IOCTA report

The European Union Agency for Law Enforcement Cooperation, or Europol, just released its annual Internet Organized Crime Threat Assessment (IOCTA) report for the year. And we weren’t surprised to find that ransomware, despite its palpable decline in volume these past few months—a trend we’ve also seen and documented—remains the most prominent threat in terms of prevalence and financial … [Read more...]

When corporate communications look like a phish

Many organizations will spend significant sums of money on phishing training for employees. Taking the form of regular awareness training, or even simulated phishes to test employee awareness, this is a common practice at larger companies. However, even after training, a consistent baseline of employees will still click a malicious link from an unknown sender. Today, we’ll look at a … [Read more...]

Phishing Email Uses Google Drive to Get Past Microsoft Security

This week, Threatpost reported on a new spear-phishing attack that uses email sent via Google Drive claiming to be the CEO of the targeted company sharing important information with the recipients.  The email came from Google Drive, but the sender address didn’t match the company’s standard naming convention for email addresses. Because the message was sent by a legitimate email … [Read more...]

Leaks and breaches: a roundup

It’s time for one of our semi-regular breach/data exposure roundup blogs, as the last few days have brought us a few monsters. If you use any of the below sites, or if you think some of your data has been sitting around exposed, we’ll hopefully give you a better idea of what the issue is. Seeing so many services be compromised or simply exposed for all to see without being secured is rather … [Read more...]

A week in security (March 18 – 24)

Last week on Malwarebytes Labs, we touched on the susceptibility of hospitals against phishing attacks, password reuse, the risk of interactive TV shows to side-channel attacks, and Facebook’s new and out-of-character plan to promote privacy in the platform. Other cybersecurity news A study highlighted that 20 percent of Americans do not trust anyone with the protection of their data, … [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...]