Mitigating the Impact of Ransomware With Data Science

Anna Delaney • June 27, 2022

Unlocking the data generated by ransomware attacks is helping organizations better understand the risks, adopt defensive technologies and prepare for future attacks, says Wade Baker, partner at Cyentia Institute. He discusses new data on how quickly organizations are remediating vulnerabilities.

Cryptocurrency Fraud

How to Distinguish True Zero Trust From Imposters

Latest

Cybercrime as-a-service

Ransomware-as-a-Service Gang LockBit Has Bug Bounty Program

Prajeet Nair • June 27, 2022

Ransomware-as-a-service gang LockBit has set up a bug bounty program for its malware and for exploitable vulnerabilities it could use to further criminal activities. Whether the program will go as planned is an open question. The gang is offering $1,000 to $1 million in remuneration.

Network Detection & Response

IronNet Lays Off 17% of Staff 10 Months After Going Public

Michael Novinson • June 27, 2022

IronNet is laying off 17% of its employees in a cost-cutting effort just 10 months after going public by merging with a special purpose acquisition company. The 55 layoffs will occur by the end of June and the company will spend the $1 million allocated for severance and other termination benefits.

Business Continuity Management / Disaster Recovery

ISMG Editors: When an Insider Threat Costs Millions

Anna Delaney • June 27, 2022

Four ISMG editors discuss important cybersecurity issues, including how Canada's Desjardins Group settled a data breach lawsuit for $155 million, how Facebook is being sued after allegedly violating patient privacy, and highlights from ISMG's Northeast Summit held in New York this week.

Access Management

Latest Blow Falls on the 'Scourge of Passwords'

Jeremy Grant • June 27, 2022

Tired of keeping track of passwords? Recent announcements by major platform vendors Google, Apple and Microsoft could have passwords down for the count in the next six years, says Andrew Shikiar, executive director of the FIDO Alliance, which has been on a 10-year mission to eliminate passwords.

Endpoint Security

Profiles in Leadership: Karin Höne, CISO, Barloworld

Mathew J. Schwartz • June 27, 2022

Effective security and risk programs require not just domain mastery but making security accessible to boards of directors and senior officers, says Karin Höne, the group chief information security and risk officer of South Africa-based multinational Barloworld.

Critical Infrastructure Security

Iranian Steelmaker Halts Production Following Cyberattack

Mihir Bagwe • June 27, 2022

Hacking group Gonjeshke Darande, or Predatory Sparrow in Persian, is claiming responsibility for hacking Iranian manufacturer Khouzestan Steel Company. The company shut down operations, but semiofficial Mehr News Agency reports that the factory is expected to return to normal by the end of today.

Fraud Management & Cybercrime

Ransomware Gang Uses Log4Shell

Prajeet Nair • June 24, 2022

Ransomware group AvosLocker made use of unpatched VMWare Horizon applications to hack into an unidentified organization’s systems, says analysis from Cisco Talos. The race between systems administrators working to patch the Log4j vulnerability and hackers trying to exploit it is ongoing.

Endpoint Security

Aura Lays Off 70 Staff After Raising $350M Over Past Year

Michael Novinson • June 24, 2022

Aura has laid off 70 employees as a result of customer acquisition strategy changes just a year after raising $350 million. The layoffs came about as a result of an agreement inked with MetLife earlier this year that made it Aura's exclusive go-to-market partner for the employee benefits channel.

Cybercrime

After Conti Ransomware Brand Retires, Spinoffs Carry On

Mathew J. Schwartz • June 24, 2022

The Conti ransomware group officially pulled the plug on its operation in May. But experts say the group's activities have continued in the form of numerous already-launched subsidiaries or spinoffs, which appear to include Alphv/BlackCat, AvosLocker, Black Basta and HelloKitty, among others.

Cyberwarfare / Nation-State Attacks

Attackers Use Log4Shell to Hack Unpatched VMware Products

Mihir Bagwe • June 24, 2022

Watch out for APT and state-sponsored hackers using the Log4Shell vulnerability to gain unauthorized entry into unpatched VMware Horizon Systems and Unified Access Gateway servers, says a joint advisory from CISA and the U.S. Coast Guard Cyber Command.

Business Continuity Management / Disaster Recovery

'When, Not If': Crafting Cyber Resilience Plans That Work

Mathew J. Schwartz • June 24, 2022

To excel at cybersecurity incident response, start with planning, preparation and, ideally, regular tabletop exercises, say Kevin Li, CISO for MUFG Securities Americas, and Rocco Grillo, managing director of Alvarez & Marsal's Disputes and Investigations Global Cyber Risk Services practice.

Cybercrime

Rising Fraud in the Digital Age: Detect, Prevent and Respond

Anna Delaney • June 24, 2022

Mark Read, head of data breach solutions for TransUnion in the UK, shares insights on the current data breach landscape, including how businesses should respond to a data breach in order to reduce its impact. "The most successful responses often include the offer of a remediation solution," he says.