Managed Detection & Response for Financial Services

Data Breach Today

Phishing. These are among the top threats to financial institutions of all sizes. Ransomware. Credential stuffing. But small-to-midsized ones are particularly challenged to detect and respond to threats. Arctic Wolf's Todd Thiemann discusses the value of managed detection and response

Financial services continue to lead in cybersecurity preparedness, but chinks appear in the armor

Thales Cloud Protection & Licensing

Financial services continue to lead in cybersecurity preparedness, but chinks appear in the armor. It highlights the leadership of financial services in cybersecurity relative to other industries, but it also uncovers some surprising chinks in their cybersecurity armor.

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New York Department of Financial Services Released New Guidance Addressing COVID-19 Related Cybersecurity Risks

HL Chronicle of Data Protection

Continuing its focus on COVID-19’s impact on its regulated entities, on April 13, the New York Department of Financial Services (NYDFS) released new cybersecurity guidance in response to the COVID-19 pandemic. Increased Phishing and Fraud.

Embracing new ways of working in financial services

CGI

Embracing new ways of working in financial services. In times of crisis, the preservation of key functions and services is critical, regardless of industry. Customer service. In a crisis like this, the financial welfare of many customers is seriously threatened.

Proposed Amendments to NY Financial Services Cybersecurity Regulations Impose New Obligations on Large Entities, Boards of Directors and CISOs

Hunton Privacy

On July 29, 2022, the New York Department of Financial Services (“NYDFS”) posted proposed amendments (“Proposed Amendments”) to its Cybersecurity Requirements for Financial Services Companies (“Cybersecurity Regulations”).

Phishing Campaigns Target Senior Executives via Office 365

Data Breach Today

Top Victims Include Financial Services and Law Firms, Group-IB Warns A sophisticated, highly targeted phishing campaign has hit high-level executives at more than 150 businesses, stealing confidential documents and contact lists, says security firm Group-IB.

Phishing Campaign Targets 200M Microsoft 365 Accounts

Dark Reading

A well-organized email spoofing campaign has been seen targeting financial services, insurance, healthcare, manufacturing, utilities, and telecom

Exclusive: Welcome “Frappo” – Resecurity identified a new Phishing-as-a-Service

Security Affairs

The Resecurity HUNTER unit identified a new underground service called ‘Frappo’, which is available on the Dark Web. The platform has been built by cybercriminals to leverage spam campaigns that distribute professional phishing content.

MirrorBlast Campaign Targets Finance Sector Using Macros

Data Breach Today

TA505 APT Group delivers phishing email containing malicious links Researchers at Morphisec Labs have published fresh details about a new MirrorBlast campaign that they say is run by a Russia-based threat group TA505, targeting financial services organizations.

SHARED INTEL: Microsoft discloses how the Nobelium hacking ring engages in routine phishing

The Last Watchdog

And yet, for all of its sophistication, Nobelium also engages in routine phishing campaigns to get a foothold in targeted organizations. Microsoft said it notified the targeted 150 organizations, which included “IT companies (57%), followed by government (20%), and smaller percentages for non-governmental organizations and think tanks, as well as financial services.”

'Hack-for-Hire' Groups Spoof WHO Emails to Steal Data

Data Breach Today

Google: Hackers Using COVID-19 Phishing Themes to Target Businesses "Hack-for-hire" groups operating in India are spoofing World Health Organization emails to steal credentials from financial services and healthcare firms around the world, according to Google's Threat Analysis Group

OnDemand | From Endpoint to Cloud: 2021 Best Practices for Securing a Data Path

Data Breach Today

50% of phishing attacks targeting financial services intend on stealing corporate login credentials View this session to learn why mobile threat exposures continue to increase & best practices for mitigating the threats

How Multi-factor Authentication Can Benefit Your Industry

Rocket Software

Financial services organizations typically experience the most data breaches and hacks, which makes security a priority. Benefits for Financial Services. Since the pandemic began in March, data hacks, including simple phishing attacks, have been on the rise.

Group-IB uncovers PerSwaysion – sophisticated phishing campaign targeting executives worldwide

Security Affairs

Group-IB uncovered a new sophisticated phishing campaign, tracked as PerSwaysion, against high-level executives of more than 150 companies worldwide. . PerSwaysion is a highly-targeted phishing campaign. PerSwaysion campaign is a series of Malware-as-a-Service-based operations.

BEST PRACTICES: Mock phishing attacks prep employees to avoid being socially engineered

The Last Watchdog

Social engineering, especially phishing, continues to trigger the vast majority of breach attempts. Lucy’s’s software allows companies to easily set-up customizable mock attacks to test employees’ readiness to avoid phishing, ransomware and other attacks with a social engineering component. This is stunning: phishing attacks soared in 2018, rising 250% between January and December, according to Microsoft’s Security Intelligence Report.

Fake Microsoft Teams notifications aim at stealing Office365 logins

Security Affairs

Phishing attacks impersonating notifications from Microsoft Teams targeted as many as 50,000 Teams users to steal Office365 logins. This tactic is employed in an attempt to bypass malicious link detection used by email protection services.”.

Attackers Use Bots to Circumvent Some Two-Factor Authentication Systems

eSecurity Planet

Underground services are cropping up that are designed to enable bad actors to intercept one-time passwords (OTPs), which are widely used in two-factor authentication programs whose purpose is to better protect customers’ online accounts. OTP Interception Services Emerge.

USAID Email Phishing Campaign Shows Supply Chain Threats Continue

eSecurity Planet

Agency for International Development (USAID) to launch phishing campaigns against a broad array of targets. In addition, the COVID-19 pandemic drove a rapid shift to remote work , which fueled the demand for more outside help and cloud services.

U.S. Indicts North Korean Hackers in Theft of $200 Million

Krebs on Security

Prosecutors say the hackers were part of an effort to circumvent ongoing international financial sanctions against the North Korean regime. million in August 2020 from a financial services company based in New York. The U.S.

Report shows increase in social engineering

IT Governance

The report found that about 55% of social media attacks that impersonated customer-support accounts specifically targeted the customers of financial services companies. Dropbox was revealed as the top lure for phishing attacks. There were twice as many phishing messages sent using Dropbox compared to the next popular method. It is now more important than ever to train your staff on the risks of phishing attacks.

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The ‘Zelle Fraud’ Scam: How it Works, How to Fight Back

Krebs on Security

One of the more common ways cybercriminals cash out access to bank accounts involves draining the victim’s funds via Zelle , a “peer-to-peer” (P2P) payment service used by many financial institutions that allows customers to quickly send cash to friends and family.

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GUEST ESSAY: The drivers behind persistent ransomware — and defense tactics to deploy

The Last Watchdog

Healthcare and public health, financial services, and IT organizations are frequent targets, although businesses of all sizes can fall victim to these schemes. Likewise, lookalike and spoofed web domains and well-crafted phishing emails now easily trick employees into thinking they’re dealing with trustworthy sources. Ransomware usually starts with a phishing email.

NYDFS Imposes Fine of $5 Million on Carnival for Cybersecurity Breaches

Hunton Privacy

On June 24, 2022, the New York State Department of Financial Services (“NYDFS” or the “Department”) announced it had entered into a $5 million settlement with Carnival Corp.

The Rise of One-Time Password Interception Bots

Krebs on Security

In February, KrebsOnSecurity wrote about a novel cybercrime service that helped attackers intercept the one-time passwords (OTPs) that many websites require as a second authentication factor in addition to passwords. An ad for the OTP interception service/bot “SMSRanger.”

Ransomware Protection in 2021

eSecurity Planet

This includes active tagging of workloads, threat hunting , and virus assessments, and consistent evaluation of traffic for mission-critical applications, data, or services. Healthcare and financial services are the most attacked industries.

SHARED INTEL: Akamai reports web attack traffic spiked 62 percent in 2020 — all sectors hit hard

The Last Watchdog

billion hitting financial services organizations — an increase of more than 45 percent year-over-year in that sector. billion web app attacks last year, with more than 736 million targeting financial services. However, in the financial services industry, LFI attacks were the number one web application attack type in 2020 at 52 percent, with SQLi at 33 percent and Cross-Site Scripting at 9 percent.

Ransomware at IT Services Provider Synoptek

Krebs on Security

Synoptek , a California business that provides cloud hosting and IT management services to more than a thousand customer nationwide, suffered a ransomware attack this week that has disrupted operations for many of its clients, according to sources.

The G7 expresses its concern over ransomware attacks

Security Affairs

Experts are observing a significant increase in the number of Ransomware attacks against hospitals, financial institutions, schools, and other critical infrastructure in G7 countries. “The G7 is committed to working with our financial sectors to combat ransomware.

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GUEST ESSAY: Why Microsoft Exchange users ‘must have’ robust data recovery policies, practices

The Last Watchdog

Cloud hosted email services have come into wide use as the go-to communication and collaboration work tools for businesses far and wide. Some 11,800 computer software companies, 10,000 IT services vendors, 5,500 health care organizations and 3,200 financial services firms continue to maintain on-premises Exchange email servers, according to this report from Enlyft.

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American Insurance firm State Farm victim of credential stuffing attacks

Security Affairs

The American group of insurance and financial services companies State Farm disclosed a credential stuffing attack it has suffered in July. The American group of insurance and financial services companies State Farm revealed that it was the victim of a credential stuffing attack it has suffered in July. Credential stuffing attacks involve botnets to try stolen login credentials usually obtained through phishing attacks and data breaches.

Security Compliance & Data Privacy Regulations

eSecurity Planet

GDPR (among other legal requirements in the EU and elsewhere) can expose multinational organizations to hefty financial penalties, additional rules for disclosing data breaches, and increased scrutiny of the adequacy of their data security. Financial Data Protection Laws.

What is a Cyberattack? Types and Defenses

eSecurity Planet

These new attacks affect everything from private citizens and businesses to government systems; healthcare organizations; public services; and food, water, and fuel supply chains. Phishing. Phishing attacks continue to dominate cyber threats.

How Can We Secure The Future of Digital Payments?

Thales Cloud Protection & Licensing

The financial services ecosystem has evolved tremendously over the past few years driven by a surge in the adoption of digital payments. The biggest challenge for both retailers and financial organizations was the rapidness of that change.

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Hackers target financial firms hosting malicious payloads on Google Cloud Storage

Security Affairs

Researchers at Menlo Labs uncovered a malicious email campaign targeting employees of banks and financial services companies abusing Google Cloud Storage. Threat actors hosted the malicious payloads on storage.googleapis.com, which is associated with Google Cloud Storage service. “In all of these cases, the malicious payload was hosted on storage.googleapis.com, the domain of the Google Cloud Storage service that is used by countless companies.

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NYDFS settles cybersecurity regulation matter for $1.8 million

Data Protection Report

On May 13, 2021, the New York Department of Financial Services (NYDFS) announced a $1.8 This matter began when insurance affiliate #1, licensed by NYDFS, discovered a phishing email in September of 2018.

SHARED INTEL: ‘Credential stuffers’ leverage enduring flaws to prey on video game industry

The Last Watchdog

When you have a victim that came from a phishing attack on the financial services industry for example, and then later you obtain that victim’s gaming details, if there is a match on email addresses, username, address, etc. Some of the credential stuffing attacks can be traced back to existing data breaches or phishing. You get an email, click the link, and you’re able to access the application or service.

NYDFS Issues Ransomware Guidance Outlining Expected Security Controls

Hunton Privacy

On June 30, 2021, the New York State Department of Financial Services (“NYDFS,” the “Department”) issued guidance to all New York state regulated entities on ransomware (the “Guidance”), identifying controls it expects regulated companies to implement whenever possible.

Avoslocker ransomware gang targets US critical infrastructure

Security Affairs

The advisory was published in coordination with the US Treasury Department and the Financial Crimes Enforcement Network (FinCEN). In some cases, the gang also threatened and conducted distributed denial-of-service (DDoS) attacks during negotiations. ransomware and phishing scams).

NYDFS settles cybersecurity regulation matter for $3 million

Data Protection Report

On April 14, 2021, the New York Department of Financial Services (NYDFS) announced a $3 million settlement with insurance company National Securities Corp. NSC learned that the threat actor likely gained access through a phishing email.

New York SHIELD Act $600,000 settlement

Data Protection Report

According to the settlement agreement, the threat actor obtained access to the EyeMed email account on approximately June 24, 2020 and not only obtained access to six years’ worth of information, but also began sending 2,000 phishing emails on July 1.