Cybercrime

  • CybersecurityA malware more sophisticated than Stuxnet discovered

    Security experts at Symantechave discovered the world’s most sophisticated computer malware, Regin. Thought to have been created by a Western intelligence agency, and in many respects more advanced than Stuxnet — which was developed by the U.S. and Israeli government in 2010 to hack the Iranian nuclear program — Regin has targeted Russian, Saudi Arabian, Mexican, Irish, and Iranian Internet service providers and telecoms companies. “Nothing else comes close to this … nothing else we look at compares,” said one security expert.

  • CybersecurityMore 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.”

  • CybersecurityDifferences between hacking, state-sponsored cyberwarfare increasingly blurred: Experts

    Cybersecurity officials say that there is an increasing similarity between hacking attacks and full-on cyber warfare, as digital infrastructures continue to grow and play a larger role in everyday life. “It’s not a clear, bright red line,” said Mitchell Silber, the executive managing director of K2 Intelligence, “It really is more murky, the difference between where a cyber criminal hack ends and where some type of state or state-sponsored event begins.”

  • CybersecurityU.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.

  • CybersecurityInformation 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.

  • BusinessMission Secure closes round of seed financing to commercialize cybersecurity technology

    Charlottesville, Virginia-based Mission Secure Inc. (MSi), a cyberdefense technology and solutions provider focusing on protecting physical systems and autonomous vehicles, last week announced it had recently closed its seed financing round led by Ballast Fund investors, a private equity firm and several high net worth angel investors.

  • CybersecurityBanks 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.

  • CybercrimeContactless 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.

  • CybersecurityIdentifying ways to improve smartphone security

    What information is beaming from your mobile phone over various computer networks this very second without you being aware of it? Experts say your contact lists, e-mail messages, surfed Web pages, browsing histories, usage patterns, online purchase records and even password protected accounts may all be sharing data with intrusive and sometimes malicious applications, and you may have given permission. The apps downloaded to smartphones can potentially track a user’s locations, monitor his or her phone calls and even monitor the messages a user sends and receives — including authentication messages used by online banking and other sites, he says, explaining why unsecured digital data are such a big issue. Assigning risk scores to apps may slow down unwarranted access to personal information.

  • CybersecurityGeorgia Tech releases 2015 Emerging Cyber Threats Report

    In its latest Emerging Cyber Threats Report, Georgia Tech warns about loss of privacy; abuse of trust between users and machines; attacks against the mobile ecosystem; rogue insiders; and the increasing involvement of cyberspace in nation-state conflicts.

  • Cyber insuranceSurge in cyberattacks drives growth in cybersecurity insurance

    More than 3,000 American businesses were hacked in 2013, many of them small and mid-size firms without cybersecurity insurance. That surge in cyberattacks has led to a growing cybersecurity industry, with firms offering products and solutions to secure network systems. Insurance companies are also claiming their stake in the booming industry. Today, roughly fifty U.S. companies offer cybersecurity insurance. American businesses will spend up to $2 billion on cyber-insurance premiums this year, a 67 percent increase from the $1.2 billion spent in 2013.

  • CybersecurityState, local governments aim to strengthen cybersecurity staff despite shrinking budgets

    Due to increased cyberattacks on state and local government servers, many leaders are looking to strengthen the cybersecurity staff on their payrolls. Lower levels of government are also worried about cybercrime due to the large amounts of personal and confidential data that they store. Demand for cybersecurity experts is more than double the workplace demand for IT specialists.

  • CybersecurityVirginia welcomes cybersecurity start-ups to a state-backed business accelerator

    Earlier this week, MACH37, a business accelerator for cybersecurity start-ups in Virginia, welcomed a new group of companies one year after it was launched to help establish the state as a hub for cybersecurity firms. The three-month program, funded with state money, offers a $50,000 investment and access to a network of mentors to companies that can turn their ideas into viable businesses.

  • Cyberattack insuranceDemand for cyberattack insurance grows, but challenges remain

    The surge in cyberattacks against the private sector and critical infrastructure has led to a growth in demand for cyber insurance; yet most insurers are unable properly to assess their clients’ cyber risk, let alone issue the appropriate pricing for their cyber coverage.Insurers which traditionally handle risks like weather disasters and fires, are now rushing to gain expertise in cyber technology.On average, a $1 million cyber coverage could cost $20,000 to $25,000.

  • CybersecurityPennsylvania cybersecurity group takes down international criminal network

    Over the past month, a coalition of cybersecurity forces in Pittsburgh, Pennsylvania made of regional FBI officers and members of Carnegie Mellon University’s CERT cyberteam, took down the Gameover Zeus cyber theft network, which had employed data ransom and theft schemes. The criminal group was able to snatch funds up to seven figures from owners’ bank accounts.