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Introduced by ranking Senate members of the Homeland Security and Governmental Affairs Committee, the Protecting Cyberspace as a National Asset Act of 2010, S.3480 is intended to create an Office of Cyber Policy in the executive branch of the government, confirmed by the Senate and ultimately reporting to the president. Senators Joe Lieberman, Blanche Lincoln and Tom Carper introduced the bill publicly on June 10, and a critical part of the bill is that critical infrastructure networks such as electricity grids, financial systems and telecommunications networks need to cooperate with the Office of Cyber Policy. more
Ubiquiti Networks Inc., a San Jose based maker of networking technology, has disclosed that cyber criminals stole $46.7 million via a "business email compromise fraud involving employee impersonation." more
Georgia Tech Information Security Center (GSTISC) today held its annual Security Summit on Emerging Cyber Security Threats and released the GTISC Emerging Cyber Threats Report for 2009, outlining the top five areas of security concern and risk for consumer and enterprise Internet users for the coming year... According to the report, data will continue to be the primary motive behind future cyber crime-whether targeting traditional fixed computing or mobile applications. "It's all about the data," says security expert George Heron -- whether botnets, malware, blended threats, mobile threats or cyber warfare attacks. more
According to a report from The Washington Post, the NSA has linked the North Korean government to the creation of the WannaCry ransomeware that resulted in affecting over 300,000 people in almost 150 countries last month. more
Ransomware is a huge problem for small and medium businesses, and the most important question is this: should you pay the ransom? Ransomware has proven a successful revenue generator for criminals, which means the risk to businesses will grow as ransomware becomes more sophisticated and increasing numbers of ethically challenged criminals jump on the bandwagon. more
With the COVID-19 health crisis evolving so quickly, it's hard to predict the extent of the long-term impact on business and the economy. While every business sector is facing different considerations, it's safe to say all are handling challenges from supply chain interruptions, rapid shifts to remote work, and massive changes in consumer spending and communication habits. more
Hackers have stolen over 2 billion rubles ($31 million) from correspondent accounts at the Russian central bank, the bank reported today. more
Seventy-five years ago today, on May 29th, 1934, Egyptian private radio stations fell silent, as the government shut them down in favor of a state monopoly on broadcast communication. Egyptian radio "hackers" (as we would style them today) had, over the course of about fifteen years, developed a burgeoning network of unofficial radio stations... It couldn't last. After two days of official radio silence, on May 31st, official state-sponsored radio stations (run by the Marconi company under special contract) began transmitting a clean slate of government-sanctioned programming, and the brief era of grass-roots Egyptian radio was over... more
A study conducted by PhD candidates at the Stony Brook University resulted in identifying malvertising as a major culprit for exposing users to technical support scams which allowed them to build an automated system capable of discovering, on a weekly basis, hundreds of phone numbers and domains operated by scammers. more
While the March report from ICANN's Domain Abuse Activity Reporting system show a general reduction in second-level gTLD domain names identified as being used in phishing, malware distribution, and botnet command and control, it has been widely reported that criminals are taking advantage of the global COVID-19 pandemic by launching malicious online campaigns. There have also been numerous reports of spikes in the use of COVID-19-related domain names for DNS Abuse. more
In the always interesting Lawfare blog, former FBI counsel Jim Baker in a piece called Rethinking Encryption reiterates his take on the encryption debates. There's a certain amount that makes me want to bang my head against the wall... But it's worth reading to remind us of what the other side is thinking, even with a lot of motivated reasoning that makes him conclude that Congress can pass some laws and the going dark problem will be solved. more
U.S. Internal Revenue Service Commissioner (IRS) testified before the Senate Finance Committee stating the agency has discovered fraudsters could use someone's personal data to fill out a financial aid application, and the "Data Retrieval Tool" would populate the application with tax information. more
The Japanese Defense Ministry is creating a computer virus capable of tracking, identifying and disabling sources of cyberattacks, according to reports. The development of the virtual cyberweapon was launched in 2008. Since then, the weapon has been tested in a closed network environment. "The most distinctive feature of the new virus is its ability to trace cyber-attack sources. It can identify not only the immediate source of attack, but also all "springboard" computers used to transmit the virus." more
The United States and India signed a Memorandum of Understanding (MOU) today to promote closer cooperation and the timely exchange of information between the organizations of their respective governments responsible for cybersecurity, according to U.S. Department of Homeland Security. "The MOU was signed in New Delhi by Jane Holl Lute, Deputy Secretary for the U.S. Department of Homeland Security (DHS) and R. Chandrashekhar, Secretary, India Department of Information Technology." more
Major financial firms operating in New York will face stiff cybersecurity obligations starting Wednesday under a new regulation introduced in the city. more
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