• FIDO 1.0 specifications published aiming to promote stronger authentication

    The FIDO (Fast IDentity Online) Alliance, an open industry consortium promoting standards for simpler, stronger authentication, the other day published final 1.0 drafts of its two specifications — Universal Authentication Framework (UAF) and Universal 2nd Factor (U2F).

  • McAfee Labs report previews 2015 cyber threats, exploits, evasions

    McAfee Labs November 2014 Threats Report offers an analysis of threat activity in the third quarter of 2014, and the organization’s annual 2015 Threats Predictions for the coming year. The report details a third quarter filled with threat development milestones and cyber events exploiting long-established Internet trust standards. McAfee Labs forecasts a 2015 threat landscape shaped by more attacks exploiting these standards, new attack surfaces in mobile and Internet of Things (IoT), and increasingly sophisticated cyber espionage capabilities, including techniques capable of evading sandboxing detection technologies.

  • Growing cybersecurity threats offer opportunities for cybersecurity businesses

    A 2013 report from the U.S. Computer Emergency Readiness Team(US-CERT) noted that the number of cyberattacks reported by federal agencies had skyrocketed 782 percent since 2006, to nearly 49,000, in 2012. Today, the figure is much higher. The increasing threat of cyberattacks from domestic and foreign actors has opened up opportunities for cybersecurity professionals, many of whom held positions with the U.S. military or intelligence agencies. For the private sector, cybersecurity spending is expected to reach $71.1 billion this year, and expected to grow about 9 percent annually through 2016.

  • DOJ’s new cyber unit to provide legal guidance on electronic surveillance

    The Justice Department is creating a cybersecurity unit within its Computer Crime & Intellectual Property Section (CCIPS) to provide legal guidance on electronic surveillance investigations.The unit will also work with Congress on cybersecurity legislation and focus on cybercrime prevention.

  • China says U.S. does not appreciate China’s own vulnerability to cyberattacks

    At the seventh annual China-U.S. Internet Industry Forum held on 2-3 December, Lu Wei, minister of China’s Cyberspace Affairs Administration, which manages Internet information in China, urged U.S. officials and the private sector to stop claiming Chinese cyberespionage against U.S. systems and instead understand China’s Internet information policies. China has become the world’s largest Internet market with over four million websites, 600 million Web users, and four of the world’s top ten Internet firms.

  • FBI cautions U.S. firms of hackers trying to overwrite companies’ data files

    On Monday, several cybersecurity officers of U.S. businesses received a five-page “flash” warning from the FBI to be cautious of hackers that may use malware to override all data on hard drives of computers, including the master boot record, which prevents them from booting up. “The overwriting of the data files will make it extremely difficult and costly, if not impossible, to recover the data using standard forensic methods,” the warning read.

  • Hackers well-versed in Wall Street vernacular hack publicly traded companies

    Security firm FireEye’s recent reporton a group of hackers who have been infiltrating e-mail correspondence from more than 100 organizations, differs from the company’s previous reportson cyber criminals operating from China or Russia. This time, the hackers are based in North America or Western Europe, and are well-versed in Wall Street vernacular. The hackers, who FireEye named “FIN4” because they are one of many groups that hack for financial gain, targeted mostly publicly traded healthcare or pharmaceutical companies, along with their advisory firms, in pursuit of information that could affect global financial markets.

  • Internet security market to reach $42.8 billion globally by 2020

    According to a new report by Allied Market Research, the global Internet security market is expected to reach $42.8 billion by 2020, registering a CAGR of 8.1 percent during 2014-2020. The market, driven by demand for software solutions, would experience a shift toward the adoption of cloud-based systems. About 80 percent of the top companies today identify with cloud-based security services which have become a prominent market trend.

  • More companies adopt active defense to thwart hackers

    Some U.S. companies are beginningto counter-hack cybercriminals by using intelligence shared within industry circles. Federal officials have not openly endorsed active defense, but measures like tricking hackers into stealing fake sensitive data, then tracking its movements through the Web, are gaining support. Some firms have gone as far as hacking alleged criminals’ servers. “The government is giving ground silently and bit by bit on this [active defense] by being more open,” said former National Security Agencygeneral counsel Stewart Baker. “I have a strong sense from everything I’ve heard. . . that they’re much more willing to help companies that want to do this.”

  • U.S. government networks vulnerable despite billons spent on protecting them

    Experts say that cybersecurity has leaped over terrorism as the top threat to U.S. security, and with the awareness of the threat comes funding better to secure government systems. There are currently 90,000 information technology security professionals working for the government, 33 percent of them are contractors. The federal government is projected to hire more cyber professionals and spend $65 billion on cybersecurity contracts between 2015 and 2020, but today, federal cybersecurity officials are still struggling to keep sensitive data from hackers and cyber criminals. Some have warned of a “Cyber Pearl Harbor” — but Pearl Harbor was a surprise. No one in business or government today can continue to plead surprise when it comes to the possibility of cyberattack.

  • Information sharing is key in responding to cyberattacks

    Time is not your friend when your information systems are under cyberattack, but sharing threat information before, during, and after an attack with a trusted group of peers can help. Not only does it alert the other members of your community to a potential attack, it can provide critical actionable information to speed and bolster your own defenses. Participating in a formal information sharing group can greatly enhance an organization’s cybersecurity capabilities.

  • The best cyberdefense is cyber offense, some experts say

    In response to the surge in cyberattacks against the U.S. private sector, some firms are exploring “active defense” measures which they hope will send a message to hackers.Some cyber analysts say tougher defense will not deter new cyberattacks, and some sort of offensive action is needed. “I think you are morally justified for sure” in taking such actions, a former high DHS official says. “And I think the probability of being prosecuted is very low.” If a firm locates its stolen data and is capable of recovering it, “they would be crazy not to.”

  • Banks collaborate to thwart cybercrime

    The Financial Services Information Sharing and Analysis Center (FS-ISAC), a cybersecurity information sharing group, has teamed up with the Depository Trust & Clearing Corporation to form Soltra. Named after a series of fire signals that were used in Europe hundreds of years ago to warn against invaders, the organization alerts member banks of incoming or potential cyber threats.

  • Security contractor USIS failed to notice months-long hacking of its computer systems

    A new report reveals that the cyberattack on security contractor USIS, similar to previous attacks by Chinese government hackers on U.S. firms, was infiltrating USIS computer systems for months before the company noticed. The breach, first revealed publicly by the company and the Office of Personnel Management(OPM) in August, compromised the records of at least 25,000 DHS employees.

  • Contactless cards fail to recognize foreign currency

    New research has highlighted a “glitch” in the Visa system which means their contactless cards will approve foreign currency transactions of up to 999,999.99 in any foreign currency. Side-stepping the £20 contactless limit, transactions can be carried out while the card is still in the victim’s pocket or bag. Transactions are carried out offline, avoiding any additional security checks by the bank, and although the current system requires the credit card to authenticate itself, there is currently no requirement for the POS (point of sale) terminal to do the same.