Police in Nigeria this week arrested a 37-year-old man who's been charged with masterminding "a criminal syndicate tied to massive business email compromise and phishing campaigns," Interpol reports. But with known BEC losses last year exceeding $2.4 billion, will the arrest have a noticeable impact?
In this edition, Ari Redbord and Grant Schneider join ISMG editors to discuss the challenges ahead for the U.S. government as it plans to roll out EDR deployments at more than half of federal agencies this year, how stable the stablecoin economy really is and how to improve industry collaboration.
There has been a rise in crypto fraud, and a substantial portion of it can be attributed to stimulus funding and paycheck protection programs, says David Britton, vice president of strategy, global ID and fraud at Experian. He discusses new authentication methods and stricter regulations.
The new Expel Quarterly Threat Report provides data on what we’re seeing,
detection opportunities, and resilience recs to help protect your organization.
We’ll dive into the trends in this report, based on incidents the Expel security
operations center (SOC) team identified through investigations into...
Criminals are doubling down on their use of information-stealing malware, such as Cryptobot, RedLine Stealer and QuilClipper, to steal private keys and siphon off cryptocurrency being stored in internet-connected hot wallets or to raid cryptocurrency holders' online exchange accounts.
The Association of Certified Fraud Examiners, or ACFE, has released its study titled "Report to the Nations." Mason Wilder, research manager at the ACFE, shares some important findings from the report and discusses how occupational fraud is reported and which organizations are affected by it.
In the latest update, four editors at Information Security Media Group discuss the intriguing insights exposed by the leak of ransomware gang Conti's internal communications, the U.S. Treasury's first-ever sanctions on a cryptocurrency mixer and the latest cyber activity in Russia's hybrid war.
In the latest "Proof of Concept," Ari Redbord, head of legal and government affairs at TRM Labs, and former CISO David Pollino of PNC Bank join editors at ISMG to discuss the U.S Treasury's decision to sanction cryptocurrency mixer Blender.io. They also assess software supply chain security.
The United Kingdom has announced two proposed pieces of legislation - the Financial Services and Markets Bill and the Economic Crime and Corporate Transparency Bill - to regulate the digital assets industry and curb the use of virtual currency in illicit activity.
Virtual currency mixer Blender.io has been sanctioned by the U.S. for enabling North Korea to conduct "malicious cyber activities and money laundering of stolen virtual currency," the U.S. Treasury Department’s Office of Foreign Assets Control says in its first sanctioning of a currency mixer.
DeFi platform Fei Protocol has offered a $10 million "no questions asked" bounty to hackers in an attempt to recover some of the funds stolen from its recently merged DAO partner Rari Capital. Blockchain security firms BlockSec and CertiK say the amount of stolen funds totals about $80 million.
In this edition, four ISMG editors discuss important cybersecurity issues, including how virtual currency Monero is becoming the main alternative to Bitcoin as the crypto choice for criminals, the challenges involved in an identity-centric Zero Trust approach and how to influence change in culture.
Don't stockpile cryptocurrency in case your organization falls victim to ransomware-wielding attackers and opts to pay a ransom. This might seem obvious to anyone aware of the volatility in Bitcoin's value, but some organizations reportedly used to employ this incident response strategy.
DeFi platform Deus Finance has been hit by hackers for the second time in two months, likely raking up losses of about $10 million in the latest incident. Its co-founder Lafayette Tabor tells ISMG that the incident was the result of a zero-day exploit. The firm is currently investigating the matter.
Almost all ransomware-wielding attackers accept Bitcoin for ransom payments, but many prefer Monero, thanks to the privacy-preserving coin being tougher for law enforcement officials to track. But advanced intelligence efforts to try and unmask criminal users of both Bitcoin and Monero are ongoing.