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Industry News: ESG5

Cybersecurity Risks and Challenges Facing the Financial Industry

2021-03-04

We Live Security: Companies operating in the financial services industry aren’t by any means strangers to being targeted by various forms of financial crimes and fraud. However, over time, the playing field has changed and threat actors have adapted their tactics to better suit the digital world. Cybercriminals now use different flavors of fraud and extortion as well as directly breach companies to line their pockets.

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Most Phishing Emails Are After Credentials

2021-03-04

KnowBe4: 57% of phishing emails in 2020 were designed for stealing credentials, according to Cofense’s most recent Annual State of Phishing Report. Meanwhile, just 12% of phishing attacks last year were used for delivering malware. Cofense believes this is because credential phishing emails are better at bypassing email security filters than emails with malicious attachments or download links. Likewise, conversational phishing attacks, like business email compromise (BEC), have grown more popular.

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Data Extortion Ransomware Attacks On Financial Sector Up 350 Percent During Covid-19 Pandemic

2021-03-04

Institutional Asset Manager: Data from the CrowdStrike Intelligence team reveals a surge in ransomware attacks during the pandemic, with data extortion becoming the most used attack method for all sectors – with 1,430 incidents reported globally in 2020.

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The World Is Facing A 'Global Cybercrime Pandemic'

2021-02-24

Tech Radar: The world is facing a cybercrime pandemic, a new report on the Covid-19 security landscape suggests. According to research from security firm Check Point, more than 100,000 malicious websites are currently active each day, as well as 10,000 different malware strains. 

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A Constant State of Flux

2021-02-23

Trend Micro: 2020 was the year that stymied organizations and tested their limits on many fronts. Incidents of great consequence, shifts to remote-work arrangements, and other significant changes from the familiar prompted a renewed awareness and reassessment in organizations. The challenges they encountered paved the way for adaptive and alternative solutions that took into account human as well as technological perspectives.

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This Cybersecurity Threat Costs Business Millions. And It's the One They Often Forget About

2021-02-16

ZDNet: While ransomware is the cyberattack most feared by businesses, another form of cybercrime is slipping under the radar, one that is proving highly lucrative for internet fraudsters – and costly to business.

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100+ Financial Services Firms Targeted in Ransom DDoS Attacks in 2020

2021-02-15

Dark Reading: More than 100 financial services firms across multiple countries were targeted in a wave of ransom distributed denial-of-service (DDoS) attacks conducted by the same threat actor in 2020.

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People Are Often the Collateral Damage of Attacks On Corporations

2021-02-11

Help Net Security: Thanks to cyberattacks making regular headlines in the news, it’s no secret that massive data breaches are a significant threat to organizations. However, a report from F-Secure highlights the rarely-discussed impact these attacks can have on people and families using online services.

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Hackers Targeted Financial Sector In Mass Extortion Campaign

2021-02-09

WSJ: Late last year, more than 100 financial-services companies across the world received threats from a group of hackers who claimed destructive attacks would follow unless large payments were made.

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It’s Time to Rethink Cybersecurity Training… Again

2021-02-04

Security Magazine: Cybersecurity training today is much different than it was 10 years ago. In most organizations, we have developed training that is engaging, interactive, even enjoyable at times. Security leaders of yesterday realized that having a once a year, boring, PowerPoint like training that employees had to undergo to check a box was not working. Everyone dreaded that training and that led to skimming the material and clicking through slides, then brute-forcing their way through the answers on the final exam.

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