How to Mitigate P2P Payment Fraud

Suparna Goswami • October 30, 2020

Validating identity across every digital channel is essential to track money movement information and help control P2P payment fraud, two fraud-fighting experts say.

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COVID-19

Payment Card Security: Are More Open Standards Needed?

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Anti-Money Laundering (AML)

Fighting Money Laundering With Confidential Computing

Nick Holland • October 30, 2020

New developments in confidential computing provide banks with new ways to fight money laundering, says Michael Reed of Intel.

Blockchain & Cryptocurrency

Post-Election Cyber Disruptions: What to Expect

Anna Delaney • October 30, 2020

The latest edition of the ISMG Security Report features a discussion with FBI Agent Elvis Chan on the cyber disruptions to expect immediately after the Nov. 3 U.S. election. Also featured: smart lock security flaws; cryptocurrency-funded crimes in 2021.

Business Email Compromise (BEC)

Phishing Scam Costs Wisconsin GOP $2.3 Million

Doug Olenick • October 29, 2020

The Republican Party of Wisconsin says fraudsters used phishing emails and doctored invoices to steal $2.3 million earmarked for President Donald Trump's reelection campaign. The FBI is investigating.

Governance & Risk Management

100,000 Windows Devices Still Exposed to SMBGhost Flaw

Doug Olenick • October 29, 2020

Almost eight months after Microsoft warned of a critical vulnerability in Windows called SMBGhost, more than 100,000 unpatched devices remain vulnerable, according to security researchers. The COVID-19 pandemic and ensuing rush to move workers into home offices may have led to delays in applying the fix.

Cybercrime

Ryuk Ransomware Delivered Using Malware-as-a-Service Tool

Prajeet Nair • October 28, 2020

The operators behind the Ryuk strain of malware are increasingly relying on a malware-as-a-service tool - the Buer loader - to deliver the malware, rather than botnets such as Trickbot and Emotet, the security firm Sophos reports.

Encryption & Key Management

Analysis: The Security of 5G Devices, Networks

Doug Olenick • October 28, 2020

So far, much of the discussion about 5G security has focused on avoiding the use of technology from Chinese manufacturers, including Huawei and ZTE. But security experts are increasingly concerned that 5G network and device providers rushing products to market aren't devoting enough attention to security.

COVID-19

CISOs' Pandemic Challenge: More Disruption, Less Budget

Mathew J. Schwartz • October 28, 2020

The imperative for CISOs during the COVID-19 pandemic is to do more with less. While disruptive attacks - as well as privacy concerns - keep rising, budgets are down. As organizations rapidly adopt new technologies, however, EY's Kris Lovejoy says CISOs must seize the opportunity to streamline.

Endpoint Security

New Online Platform Coordinates IoT Bug Reports

Jeremy Kirk • October 27, 2020

A new online platform called VulnerableThings.com is aiming to become the go-to place for reporting and viewing reports on software flaws in IoT devices. The IoT Security Foundation and Oxford Information Labs say the platform could help vendors comply with new IoT regulations and standards.

Cybercrime

Even in Test Mode, New Mirai Variant Infecting IoT Devices

Doug Olenick • October 26, 2020

A greatly enhanced variant of the powerful Mirai botnet is already infecting IoT devices even though it's operating in a test environment, according to researchers at cybersecurity firm Avira Protection Lab.

COVID-19

Insider Sentenced for Sabotaging PPE Shipments

Marianne Kolbasuk McGee • October 26, 2020

A former vice president of a personal protective equipment packaging firm has been sentenced to prison and ordered to pay restitution for sabotaging the company's electronic shipping records during the COVID-19 pandemic - causing delays in deliveries - after he was terminated from his job.

Blockchain & Cryptocurrency

KashmirBlack Botnet Targets Content Management Systems

Prajeet Nair • October 26, 2020

Security researchers at Imperva have uncovered a botnet that attacks vulnerabilities in websites' underlying content management systems and then uses these compromised servers to mine for cryptocurrency or send spam to more victims.

Critical Infrastructure Security

US Treasury Sanctions Russian Entity Over Triton Malware

Akshaya Asokan • October 24, 2020

The Treasury Department has issued sanctions against a Russian research institute that U.S. officials now claim helped deploy Triton, destructive malware designed to damage industrial control systems. The announcement follows other economic penalties levied against Iran in the same week.