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Ransomware Situation Goes From Bad to Worse

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Ransomware Situation Goes From Bad to Worse

New malware distribution techniques and functionality updates are sure to put more pressure on enterprise organizations in 2020.

The surge in ransomware attacks on cities, municipalities, schools, and healthcare organizations this year is just a foretaste of what is likely come in 2020.

Threat actors have sensed a very real opportunity to make big returns attacking enterprise organizations using ransomware and are refining their tools and techniques to increase their chances for success, say worried security experts.

Some recent developments include growing collaboration between threat groups on ransomware campaigns; the use of more sophisticated evasion mechanisms; elaborate multi-phase attacks involving reconnaissance and network scoping; and human-guided automated attack techniques.

IT and security groups that are already under pressure to respond will be challenged even more by the growing sophistication of the ransomware threat, experts note. While municipal governments, schools, and other perceived “soft” targets will continue to bear the brunt of the attacks, no organization will really be safe.

“We would assume that the larger and more important an organization is, the more attractive a target it poses for extortionists,” says Fedor Sinitsyn, senior malware analyst at Kaspersky. But “any company or organization should be aware of [the] threat and plan accordingly,” he notes.

With the current reliance on digital infrastructure, any network disruption equals loss of money. Taking into account the disastrous effects of ransomware, the recovery period for some organizations could end up being long and painful, Sinitsyn says.

Going From Bad to Worse

2019 turned out to be a far more active year for ransomware than many might have anticipated given the declining overall volume in attacks last year.

Emsisoft recently estimated that ransomware attacks have cost US government agencies, educational establishments, and healthcare providers alone more than $7.5 billion this year. According to the security vendor, up to December 2019, at least 759 healthcare providers, 103 state and municipal governments and agencies, and 86 universities, colleges, and school districts have been hit in ransomware attacks.

In addition to financial losses the attacks have resulted in emergency patients being redirected to other hospitals, medical records being lost, property transactions being halted, surveillance systems going offline, and other very real-world consequences, Emsisoft said.

Several developments suggest that the situation in 2020 is likely going to be at least as bad, if not actually worse.

One troubling trend is the growth in instances of threat groups collaborating with each other to enable easier delivery of malware. Security firm SentinelOne recently reported on how the operators of the TrickBot banking Trojan have begun selling access to networks it has previously compromised to other threat groups including those seeking to distribute ransomware.

Such collaboration is allowing threat groups to distribute ransomware more easily without having to do any initial breaching of a network on their own.

Carl Wearn, head of e-crime at Mimecast, describes the advent of collaboration across criminal groups with differing specialties as one of the most significant ransomware developments in 2019. “Malware threat actors are increasingly trading their work,” he says. “This leads to hackers selling access to already compromised networks.”

The highly targeted use of ransomware via precursor infections to ascertain a suitable ransom payment is another big issue, Wearn says.

In many attacks, threat actors have first infected a target network with malware like Emotet and Trickbot to try and gather as much information about systems on the network as possible. The goal is to find the high-value systems and encrypt data on it so victims are more likely to pay.

“If we look at the big picture, we will discover that what is changing is the threat actors’ approach to distributing the Trojans and selecting their victims,” Sinitsyn says. If five years ago almost all ransomware was mass-scale and the main distribution vector was via spam, nowadays many criminals are using targeted attacks instead.

“Threat actors carry out a reconnaissance in order to find a large corporation or a governmental entity or a municipal network and try to breach their defenses,” Sinitsyn says. Since the criminals know with whom they are dealing, they tend to set the ransom amount significantly high.

Another trend to note is the increase in incidents where criminals not only encrypt the victim’s data, but also exfiltrate some of it during the infection, Sinitsyn says. It gives the threat actors additional leverage for extorting money. “In case the victim is reluctant to pay up — [because] for example, they have consistent backups offsite — the criminals will threaten to release some of the stolen data into public,” he adds. One example of ranomware being used in this way is Maze, a tool that some believe was used in a recent attack on Pensacola, where threat actors are demanding a $1 milion ransom.

Growing Malware Sophistication

A majority of ransomware families deployed in the wild is of the cookie-cutter variety. Even ransomware that uses obfuscation to get around some kind of detection usually ends up being detectable when it starts to actually encrypt files. However, some threat actors are using very sophisticated tools, says Andrew Brandt, principal researcher at Sophos. As one example, he points to ransomware that use “kill lists” to try and terminate anti-malware tools.

Another example is ransomware that sets itself up as a service running in Windows’ built-in Safe Mode, then reboots the system into Safe Mode before beginning to encrypt the hard drive, he says. “Booting into Safe Mode effectively terminates nearly all endpoint protection tools,” Brandt says. Sophos recently spotted the Safe Boot feature added to Snatch, a ransomware sample used in targeted attacks that the security vendor has been tracking for a year.

“Among the most notable advancements is an increase in ransomware attackers employing automated active attack techniques,” Brandt says. These are attacks where threat-actors use automated malware to quickly profile an infected environment and laterally spread within a targeted network or trigger simultaneous infections across multiple machines within the same environment, Brandt says.

Many of the most troublesome recent ransomware campaigns — including those involving Ryuk, Lockergoga, Robbinhood, and Sodinokibi — have involved the use of active attack techniques, according to Sophos.

Kaspersky researchers in December also reported identifying a new type of ransomware targeting Network Attached Storage (NAS) devices that organizations use to back up data. The vendor described the malware as posing new risks for organizations because NAS devices are generally perceived as secure technology.

Going Mobile

If all this wasn’t enough, some believe that mobile devices could start getting targeted as well.

Joel Windels, chief marketing officer at NetMotion Software, points to data from the 2019 Verizon Data Breach Investigations Report showing users as more susceptible to phishing attacks on mobile devices, and another report about Chinese hackers breaching 10 global cellular providers. “All of the pieces are in place for an increase in mobile ransomware in 2020,” Windels says.

“We expect to see the first concerted ransomware attacks target mobile applications running on Android,” he says.

The same combination of factors – unsupported, outdated, and unpatched systems – that led to the surge in ransomware attacks on local governments and others will drive attacks on mobile devices. “As OS fragmentation becomes a bigger issue for Android devices, in particular, many devices are being left unsupported with older software and less frequent security patches,” Windels notes.

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Jai Vijayan is a seasoned technology reporter with over 20 years of experience in IT trade journalism. He was most recently a Senior Editor at Computerworld, where he covered information security and data privacy issues for the publication. Over the course of his 20-year … View Full Bio

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Published at Thu, 26 Dec 2019 14:00:00 +0000

AI

Pandemic Spurred Identity Fraud; AI and Biometrics Are Responding 

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AI and biometrics are being more widely incorporated in new cybersecurity products, as losses from cyberattacks and identity theft increased dramatically in 2020. (Credit: Getty Images) 

By AI Trends Staff 

Cyberattacks and identity fraud losses increased dramatically in 2020 as the pandemic made remote work the norm, setting the stage for AI and biometrics to combine in efforts to attain a higher level of protection. 

One study found banks worldwide saw a 238% jump in cyberattacks between February and April 2020; a study from Javelin Strategy & Research found that identity fraud losses grew to $56 billion last year as fraudsters used stolen personal information to create synthetic identities, according to a recent account from Pymnts.com. In addition, automated bot attacks shot upward by 100 million between July and December, targeting companies in a range of industries.  

Companies striving for better protection risk making life more difficult for their customers; another study found that 40% of financial institutions frequently mistake the online actions of legitimate customers to those of fraudsters. 

Caleb Callahan, Vice President of Fraud, Stash Financial

“As we look toward the post-pandemic—or, more accurately, inter-pandemic—era, we see just how good fraudsters were at using synthetic identities to defeat manual and semi-manual onboarding processes,” stated Caleb Callahan, Vice President of Fraud at Stash Financial of New York, offering a personal finance app, in an interview with Pymnts. 

SIM Sway Can Create a Synthetic Identity  

One technique for achieving a synthetic identity is a SIM swap, in which someone contacts your wireless carrier and is able to convince the call center employee that they are you, using personal data that may have been exposed in hacks, data breaches or information publicly shared on social networks, according to an account on CNET.  

Once your phone number is assigned to a new card, all of your incoming calls and text messages will be routed to whatever phone the new SIM card is in.  

Identity theft losses were $712.4 billion-plus in 2020, up 42% from 2019, Callahan stated. “To be frank, our defenses are fragmented and too dependent on technologies such as SMS [texting] that were never designed to provide secure services. Banks and all businesses should be looking at how to unify data signals and layer checkpoints in order to keep up with today’s sophisticated fraudsters,” he stated.  

Asked what tools and technologies would help differentiate between fraudsters and legitimate customers, Callahan stated, “in an ideal world, we would have a digital identity infrastructure that banks and others could depend on, but I think that we are some ways away from that right now.”  

Going forward, “The needs of the travel and hospitality, health, education and other sectors might accelerate the evolution of infrastructure for safety and security,” Callahan foresees. 

AI and Biometrics Seen as Offering Security Advantages 

AI can be employed to protect digital identity fraud, such as by offering greater accuracy and speed when it comes to verifying a person’s identity, or by incorporating biometric data so that a cybercriminal would not be able to gain access to information by only providing credentials, according to an account in Forbes. 

Deepak Gupta, Cofounder and CTO, LoginRadius

AI has the power to save the world from digital identity fraud,” stated Deepak Gupta, author of the Forbes article and cofounder and CTO of LoginRadius, a cloud-based consumer identity platform. “In the fight against ID theft, it is already a strong weapon. AI systems are entirely likely to end the reign of the individual hacker.”  

While he sees AI authentication as being in an early phase, Gupta recommended that companies examine the following: the use of intelligent adaptive authentication, such as local and device fingerprint; biometric authentication, based on the face or fingerprints; and smart data filters. “A well-developed AI protection system will have the ability to respond in nanoseconds to close a leak,” he stated. 

Pandemic Altered Consumer Financial Behavior, Spurred Identity Fraud  

The global pandemic has had a dramatic impact on consumer financial behavior. Consumers spent more time at home in 2020, transacted less than in previous years, and relied heavily on streaming services, digital commerce, and payments. They also corresponded more via email and text, for both work and personal life.  

“The pandemic inspired a major shift in how criminals approach fraud,” stated John Buzzard, Lead Analyst, Fraud & Security, with Javelin Strategy & Research in a press release. “Identity fraud has evolved and now reflects the lengths criminals will take to directly target consumers in order to steal their personally identifiable information.” 

Companies made quick adjustments to their business models, such as by increasing remote interactions with borrowers for loan originations and closings, and criminals pounced on new vulnerabilities they discovered. Nearly one-third of identity fraud victims say their financial services providers did not satisfactorily resolve their problems, and 38% of victims closed their accounts because of lack of resolution, the Javelin researchers found.   

“It is clear that financial institutions must continue to proactively and transparently manage fraud as a means to deepen their customer relationships,” stated Eric Kraus, Vice President and General Manager of Fraud, Risk and Compliance, FIS. The company offers technology solutions for merchants, banks, and capital markets firms globally. “Through our continuing business relationships with financial institutions, we know firsthand that consumers are looking to their banks to resolve instances of fraud, regardless of how the fraud occurred,” he added.  

This push from consumers who are becoming increasingly savvy online will lay a foundation for safer digital transactions.  

“Static forms of consumer authentication must be replaced with a modern, standards-based approach that utilizes biometrics,” stated David Henstock, Vice President of Identity Products at Visa, the world’s leader in digital payments. “Businesses benefit from reduced customer friction, lower abandonment rates and fewer chargebacks, while consumers benefit from better fraud prevention and faster payment during checkout.” 

The 2021 Identity Fraud Study from Javelin is now in its 18th year. 

Read the source articles and information from Pymnts.com, from CNETin Forbes and in a press release from Javelin Strategy & Research. 

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Source: https://www.aitrends.com/security/pandemic-spurred-identity-fraud-ai-and-biometrics-are-responding/

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Pipeline Update: Biden Executive Order, DarkSide Detailed and Gas Bags

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The administrator of your personal data will be Threatpost, Inc., 500 Unicorn Park, Woburn, MA 01801. Detailed information on the processing of personal data can be found in the privacy policy. In addition, you will find them in the message confirming the subscription to the newsletter.

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Source: https://threatpost.com/pipeline-biden-darkside-gas-bags/166112/

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8 Cyber Security Practices Every Organization Adopt

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Computer internet cyber security background. Cyber crime vector illustration. digital
Computer internet cyber security background. Cyber crime vector illustration. digital

Cyber security is such a pressing matter among companies, especially for large enterprises. Since there’s a lot to get from hacking large companies, they’re bound to experience cyber threats such as Trojans, malware, phishing, and ransomware regularly. But remember that there have been cases of cyberattacks on businesses with 100 or fewer employees, so small- and medium-sized companies are not exempt from this issue.

Regardless of the size of your company, consider strengthening your cyber security. There’s no better way to do that than by increasing the number of your security controls.

Security controls are countermeasures that prevent cyberattacks and minimize security risks on information, physical property, and, most importantly, your computer systems. For more information, you can read the article of Beryllium regarding security controls.

If you plan to establish newer security controls for your computer systems, you might want to consider looking into the following cyber security practices:

Table of Contents

Invest In Antivirus Software

A long time ago, you only had to worry about viruses, but that’s no longer the case. Today, there are all kinds of cyberthreats such as Trojan horses, worms, spyware, ransomware, and malware. If you want to be protected against these kinds of threats, you should consider investing in antivirus software. Antivirus software refers to any program designed to detect and eliminate various threats to a system, including those mentioned earlier.

Establish A Firewall

Antivirus software focuses on threats that may corrupt the programs inside a computer system. However, it doesn’t cover external threats; for those, you need a firewall. A firewall is a form of security control that helps keep external threats from breaching a computer system in the first place. You can think of it as the first line of defense against cyber threats. A firewall partnered with antivirus software can provide extremely powerful protection for any organization.

Utilize Multifactor Authentication

Usually, when logging into a computer system, you need to input your username and an authentication code, which is the password. But as previously said, cyberthreats have already evolved. It’s no longer enough to use a single authentication code, and that’s what multifactor authentication (MFA) is all about.

Basically, multifactor authentication is the process of requiring more than two codes from the user. So instead of a password alone, the system may also ask for a fingerprint, one-time passwords (OTPs), and more. This reduces the chances of hackers getting into the system.

Encourage Safe And Secure Passwords

Although you can use MFA, passwords are still the hardest authentication codes to crack. Hackers can steal OTPs with special software or even fake fingerprints. However, passwords are difficult to predict, perhaps due to their randomness.

If you’re going to implement MFA, you might as well make sure your employees have safe and secure passwords. You can start by giving them a few pointers, such as the following:

    • Use a password generator for the sake of randomness.
    • Avoid common characters.
    • Use a mix of characters.
    • Lengthen your password.

Monitor Third Parties’ Access To Data

Certain companies outsource some of their operations to third-party agencies. In doing so, they’re giving those firms access to confidential information.

If you’re currently in partnership with an outsourcing agency, you might want to consider monitoring them and limiting their access to data as well. After all, you can’t strengthen their cyber security even if you want to. If you do suffer from security breaches due to their negligence, your company would be on the losing side, so it’s better to be safe than sorry.

Check For Security Patches And Updates

Operating systems roll out security patches and updates every now and then. Your job is to apply those patches as soon as possible. Even if you leave your computer system outdated only for a few hours, there can be severe consequences.

Back Up All Data

Regardless of how secure your system is, there’s no guarantee that a hacker won’t get past your security controls. To minimize the damage from security breaches, companies must have a backup of all their data on a device not connected to the computer system. That way, if ever the computer system’s corrupted, you don’t have to worry about your data getting lost.

Educate Your Employees

Making mistakes is what makes one human. Some errors have minor consequences, but some can lead to huge problems. If your employees have access to the company’s system, the only thing hackers need to do is to take advantage of inexperienced employees. They can do this through phishing and other social engineering techniques.

If you don’t want your employees to bear all the blame for a security breach, try raising their awareness through training that teaches them about cyber security threats. Granted, it won’t guarantee 100% security, but it will reduce the chances for a cyberattack nonetheless.

Wrapping Up

Take note that every security control has a weakness. Your job is to ensure that those weaknesses are taken care of by other security controls. Take antivirus software and firewall, for example. Antivirus software deals with internal threats, while a firewall deals with external threats. If you want to strengthen your cyber security, you need to know how cyber security practices interact with each other, and this guide should have everything you need in that regard.

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Source: https://cybersguards.com/8-cyber-security-practices-every-organization-adopt/

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How to Become a Cybersecurity Specialist

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cyber-security

In the modern age, a cybersecurity expert acts as a watchdog. Cybersecurity experts work with businesses and organisations to keep networks and data safe.

One of a cybersecurity specialist’s main duties is to keep track of their company’s systems and report any problems to management. They are also in charge of foreseeing potential threats and providing advice about how to deal with them.

Table of Contents

What is a cybersecurity specialist?

Depending on the size and shape of his or her company or organisation, a cybersecurity specialist can wear a variety of hats.

Cybersecurity experts, as the job description suggests, are supposed to provide a certain degree of experience and knowledge that enables them to provide guidance and training on the most up-to-date digital best practises.

Cybersecurity experts may have in-depth knowledge of a specific vendor’s product (such as CISCO Systems, which manufactures networking and IT products), or they may have experience with other domains such as computer operating systems or mobile applications.

A cybersecurity specialist can be thought of as someone who monitors a company’s or organization’s security while also assisting other employees and teammates in staying current on best practises.

This position is crucial because data breaches are often caused by employees, either deliberately or unintentionally.

Four key steps to becoming a cybersecurity specialist

1. Education: Most cybersecurity specialist positions, like the majority of other cybersecurity jobs, require some sort of formal education. However, since cybersecurity specialist positions cover such a broad range of job descriptions and duties, a specialist job can be obtained after completing many levels of cybersecurity education.

In other words, people with a cybersecurity associate’s degree, bachelor’s degree, or master’s degree will work as cybersecurity specialists. Furthermore, several cybersecurity specialists found jobs after completing a similar degree (such as computer science, engineering, or mathematics) and/or gaining relevant work experience.

2. Industry certifications and clearances: Obtaining the required industry certifications and/or clearances is a vital phase in job planning, as it is in many other cybersecurity career paths.

It’s a good idea to start thinking about what certifications an employer may need, or what certifications make job applicants more competitive in their profession.

Here are a few examples of the different types of cybersecurity certifications available:

Security+ is a CompTIA qualification that is widely recognised by cybersecurity practitioners as a foundational credential. The topics of risk management and threat evaluation are included.

CompTIA offers Network + as well. This credential focuses on networking technology and operations, as the name suggests. It is regarded as a basic qualification.

A more specialised qualification, the Certified Information Systems Security Professional (CISSP), is reserved for cybersecurity practitioners with at least five years of experience. Architecture, engineering, and management are among the subjects covered by the credential.

Since it normally allows candidates to have several years of work experience, the Certified Ethical Hacker (CEH) credential is often considered a more advanced cert. The aim of an ethical hacker credential is to develop threat assessment and mitigation skills by understanding how cyber attacks unfold.

These are just a few of the many cybersecurity certifications that are accessible. When looking for cybersecurity work openings, it’s a good idea to keep track of the certifications that employers are looking for.

When applying for cybersecurity specialist jobs, it’s also a good idea to inquire about professional development programmes, such as certifications that an employer will pay for.

3. Experience: Another important aspect of obtaining a job as a cybersecurity specialist is demonstrating relevant experience.

This can be in the form of a structured internship or other formal hands-on learning, or it can be in the form of other similar work experience.

4. Network: Looking for opportunities to grow a professional network is always a good idea.

There are a variety of specialist cybersecurity associations and groups with a network-oriented approach that are explicitly structured to notify members about job openings and professional development opportunities.

A good place to start is Digital Guardian’s list of the top 50 cybersecurity networking groups and professional organisations.

What do cybersecurity specialists do?

Security evaluations of computer hardware and software systems are created and implemented by cybersecurity experts. They ensure that the systems work as they should and are secure from attack.

A cybersecurity specialist’s work can be very routine at times. They are in charge of ensuring that networks and operating systems are up to date and free of software bugs.

Furthermore, security specialists are responsible for ensuring that other coworkers are kept up to date on security best practises, which could require them to serve as a trainer or counsellor.

Designing firewalls and other protection mechanisms to ensure that information and proprietary networks are compatible with the most current security requirements is another part of a cybersecurity specialist’s task.

Cybersecurity experts are also in charge of continuously monitoring security systems and networks for irregularities and documenting and reporting on their findings.

Skills for specialists

Cybersecurity professionals play an interesting role in the businesses and institutions where they work. People in this role are often hired for their social skills as well as their technical abilities.

Cybersecurity experts must be able to interact effectively and work well in groups. Coaching and advising coworkers on security best practises is a common part of the job.

In addition, cybersecurity experts are often called upon in times of crisis or disaster, as well as when networks or data structures are malfunctioning. As a result, the ability to survive in “emergency” situations is critical.

Finally, becoming a security specialist can entail assisting coworkers in adopting new technologies and security software as it evolves. However, most people are averse to change, especially if it necessitates learning a new operating procedure or work-flow. As a result, the ability to express the rationale for the transition, as well as the ability to appeal to the desires and objections of coworkers, is crucial.

Cybersecurity experts must be at ease in a continuously changing and shifting environment. New digital attack vectors and mechanisms emerge on a regular basis, and a cybersecurity expert is charged with determining what skills and expertise are needed to defend against these new threats.

This frequently necessitates continued education, both in the form of formal, industry-recognized certifications and informal learning and monitoring of industry developments.

A cybersecurity expert should be like a Swiss Army knife of the digital world in terms of expertise, experience, and general attitude. This role requires multi-disciplinary skills and the ability to adapt to a wide range of circumstances.

Outlook for cybersecurity specialists

According to a new PayScale survey, the majority of workers with the job title cybersecurity specialists are satisfied with their employment.

According to Payscale, cybersecurity professionals are paid differently based on their expertise, roles, and place. A specialist’s salary varies from $45,644 to $115,841. The average salary is $74,140 a year.

Employment prospects for cybersecurity specialists are expected to rise 36 percent by 2024, far faster than other careers, indicating an increasing demand for cybersecurity expertise in all fields and career levels.

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Source: https://cybersguards.com/how-to-become-a-cybersecurity-specialist/

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