Leaked FinCEN Reports Reveal Sensitive Security Details

Doug Olenick • September 22, 2020

What will be the impact of the leak of investigatory documents from FinCEN - the U.S. Treasury Department's Financial Crimes Enforcement Network? For starters, experts warn that FinCEN reports may reveal sensitive information tied to banks and law enforcement agencies' investigatory tools and tactics.

Cryptocurrency Fraud

Fed Studies Development of Digital Dollar

Latest

Cryptocurrency Fraud

179 Arrested in Darknet Market Crackdown

Doug Olenick • September 22, 2020

An international coalition of police agencies made 179 arrests and seized virtual currency, cash and drugs based on intelligence gathered from earlier takedowns of the Wall Street and Alphabay darknet marketplaces.

COVID-19

Cybercrime Review: Hackers Cash in on COVID-19

Mathew J. Schwartz • September 22, 2020

Reviewing online attack trends for the first half of the year, numerous cybersecurity firms agree: COVID-19 was king. As the pandemic has reshaped how many live and work, so too has it driven attackers to attempt to exploit work-at-home challenges and virus fears.

Business Continuity Management / Disaster Recovery

Cybersecurity Leadership: Risk Exposure Awareness

Tom Field • September 22, 2020

It might be new, but are we ready to call this "normal?" In this latest in a series of CEO/CISO panels, cybersecurity leaders talk frankly about the new risk surface and the role emerging technologies play in helping us keep pace with our adversaries.

Application Security

CISA Pushes Government Agencies to Patch 'Zerologon' Flaw

Jeremy Kirk • September 22, 2020

U.S. government agencies are supposed to have patched the "Zerologon" vulnerability by now, about six weeks after Microsoft issued a patch. But CISA warns that too many agencies' systems remain unpatched.

Cyberwarfare / Nation-State Attacks

Will US Indictments of Iranian Hackers Be a Deterrent?

Akshaya Asokan • September 22, 2020

Will recent U.S. indictments of several alleged Iranian hackers - as well as government sanctions against an APT group - have a deterrent effect? Security experts share their opinions on the impact of these actions.

Cloud Security

As TikTok Negotiations Continue, US App Ban Gets Delayed

Prajeet Nair • September 21, 2020

TikTok and WeChat both received reprieves over the weekend that helped avert U.S. blocks of their social media apps. President Donald Trump says he has given his "blessing" to a deal that would see Oracle and Walmart take a stake in TikTok's U.S. operations. Separately, a federal judge suspended a WeChat ban.

Fraud Management & Cybercrime

The Do's and Don'ts of a Fraud Fusion Center

Suparna Goswami • September 21, 2020

The key element for a successful fraud fusion center in banking is for fraud and security teams to work together using a simple methodology to prevent, detect and resolve fraud, says technology adviser Ben Wallach, the former executive vice president and chief fraud director at BB&T, a U.S. bank holding company.

Account Takeover Fraud

Attacks Using Cerberus Banking Trojan Surge

Chinmay Rautmare • September 18, 2020

The posting on Russian underground forums of source code for the Android mobile banking Trojan Cerberus has led to an increase in attacks as well as updates to the malware, the security firm Kaspersky reports.

Blockchain & Cryptocurrency

Researchers Find Mozi Botnet Continues to Grow

Prajeet Nair • September 18, 2020

Mozi, a relatively new peer-to-peer botnet, is now dominating global IoT network traffic, according to a new report from IBM's X-Force unit. The malware is being used to launch DDoS attacks as well as mine for cryptocurrency.

Breach Notification

Analysis: Is Chinese Database Exposure a Cause for Concern?

Anna Delaney • September 18, 2020

The latest edition of the ISMG Security Report analyzes whether a leaked database compiled by a Chinese company should be a cause for serious concern. Also featured are discussions on vulnerability disclosure challenges and risks posed by using social media apps for payments.

Cyberwarfare / Nation-State Attacks

US Imposes Sanctions on Iranian APT Group

Doug Olenick • September 17, 2020

The U.S. Treasury Department on Thursday imposed sanctions on an Iranian advanced persistent threat group, 45 associated individuals and a front company the Iranian government allegedly used to run a years-long malware campaign that targeted Iranian dissidents, journalists and others.

Cybercrime

Analyzing the Role of Fraud Fusion Centers

Akshaya Asokan • September 17, 2020

Many financial institutions have deployed fraud fusion centers as a way to help mitigate risks. But as fraudsters revamp their techniques, banks need to revamp these centers to keep up, says Jeff Dant of BMO Financial Group, who will speak at ISMG's Virtual Cybersecurity and Fraud Summit: Toronto.