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.
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.
If you were a nation with legions of hackers at your disposal, seeking to sidestep crippling international sanctions, would you look to ransomware to fund your regime? That question is posed by new research that finds state-sponsored North Korean hackers haven't stopped their ransomware experiments.
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.
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.
Two signs that the tide may finally, if slowly, be turning on ransomware: The number of victims who choose to pay continues to decline, while the amount they pay - when they choose to do so - recently dropped by one-third, reports ransomware incident response firm Coveware.
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.
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.
VMware's Tom Kellermann is out with Modern Bank Heists 5.0, his latest look at the attackers and attacks targeting financial services. Subtitled "The Escalation," this report looks at the increase in destructive attacks, ransomware and hits on cryptocurrency exchanges. Kellermann shares insights.
Leading organizations are exploring quantum computing, AI and blockchain as drivers for business transformation and intelligent change. Bijender Mishra, CISO of Alkem Laboratories, discusses how these technologies can help industries, including pharmaceuticals, improve productivity and growth.
Security leaders are leveraging blockchain's decentralized approach to establish user identity, as it is designed to ensure the correction of transaction through reliable sources that help to contain fraudulent transactions, says Edmund Situmorang, CTO at Prodigi, Sinar Mas Group.
The latest edition of the ISMG Security Report reviews the latest cyber resilience "call to action" from the White House and also explores authentication provider Okta's failure to inform hundreds of customers in a timely manner that their data could have been stolen by the Lapsus$ group.
In a series of Executive Orders, National Security Memorandums (NSM-8), a government-wide push to embrace zero-trust architecture, and the National Institute of Standards and Technology (NIST) project to finalize Post-Quantum Cryptography (PQC) standards, advanced quantum security methods are beginning to emerge as a...
In the latest weekly update, four editors at ISMG discuss how Russia's invasion of Ukraine complicates cybercrime ransomware payments, a former U.S. Treasury senior adviser's take on Biden's cryptocurrency executive order, and important points regarding the upcoming identity theft executive order.
What are the ethics of paying ransom to cybercriminals who might be working as a proxy cyber force in support of Russia's invasion of Ukraine? Realistically, whether or not to pay often comes down to a business decision. But Russia's invasion further complicates the optics for ransomware victims.
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