RBI OKs Video-based Authentication. But Will Banks Use It?

Geetha Nandikotkur • January 17, 2020

The Reserve Bank of India has decided to allow all banks to use remote video-based "know your customer" authentication for onboarding new clients. But some observers say many Indian banks may prove reluctant to use video KYC because they lack the necessary technology and new customers lack smartphones.

Anti-Phishing, DMARC

RBI Moves to Boost Digital Payment Transactions

Latest

Cybercrime

'WeLeakInfo' Website Shut Down

Scott Ferguson • January 17, 2020

Law enforcement agencies in five countries have shut down WeLeakInfo.com, which allegedly provided cybercriminals with access to over 12 billion personal records culled from 10,000 data breaches.

Business Email Compromise (BEC)

BEC Fraudsters Targeting Financial Documents: Report

Scott Ferguson • January 17, 2020

As business email compromise schemes continue to evolve, some cybercriminals are focusing on accessing companies' financial documents, which provide useful information to support the theft of money, according to a new report from security firm Agari.

3rd Party Risk Management

Aussie Bank Says Server Upgrade Led to Data Breach

Jeremy Kirk • January 17, 2020

P&N Bank in Perth, Australia, says a server upgrade gone wrong led to the breach of sensitive personal information in its customer relationship management system. The incident is another example how organizations can be imperilled by mistakes on the part of their suppliers.

Active Defense & Deception

Analysis: Huawei 5G Dilemma

Nick Holland • January 17, 2020

The latest edition of the ISMG Security Report discusses why Britain is struggling to determine whether to use China's Huawei technology in developing its 5G networks. Plus: An update on a mobile app exposing infant photos and videos online and an analyst's take on the future of deception technology.

Governance

Windows Vulnerability: Researchers Demonstrate Exploits

Scott Ferguson • January 16, 2020

A day after the NSA disclosed a significant vulnerability that could affect the cryptographic operations in some versions of Windows, security researchers started releasing "proof of concept" code designed to show how attackers potentially could exploit the flaw. This highlights the urgency of patching.

Cybercrime

Alarming Trend: More Ransomware Gangs Exfiltrating Data

Mathew J. Schwartz • January 16, 2020

As if ransomware wasn't already bad enough, more gangs are now exfiltrating data from victims before leaving systems crypto-locked. Seeking greater leverage against non-paying victims, Maze and Sodinokibi attackers are not just threatening to leak stolen data; they're also following through.

Critical Infrastructure Security

Senators Field Legislation to Build Huawei 5G Alternatives

Mathew J. Schwartz • January 16, 2020

One gaping hole in the U.S. government's push to counter Chinese-built 5G telecommunications gear remains the lack of alternatives. But a bipartisan group of senators is seeking to create a $1 billion fund to create trusted, Western-built options.

Breach Notification

Equifax Settles Mega-Breach Lawsuit for $1.38 Billion

Jeremy Kirk • January 15, 2020

A federal judge in Atlanta has given final approval to a settlement that resolves a class action lawsuit against credit bureau Equifax, which in 2017 suffered one of the largest data breaches in history. The minimum cost to Equifax will be $1.38 billion.

Cybercrime

'Wartime' Security Mentality Revisited

Tom Field • January 15, 2020

Five years ago, cybersecurity executive Dave Merkel called upon enterprises to shed their "peacetime" mindsets and adopt a "wartime" stance against persistent cybercriminals and nation-state actors. How have they risen to that challenge?

Cybercrime

Report: Russian Hackers Targeted Ukrainian Gas Firm Burisma

Ishita Palli • January 14, 2020

Hackers with ties to the Russian government have targeted Ukrainian natural gas firm Burisma with phishing attacks designed to steal credentials, according to researchers at Area 1 Security. The company is at the center of the impeachment of President Donald Trump.

Endpoint Security

Windows 7: Microsoft Ceases Free Security Updates

Mathew J. Schwartz • January 14, 2020

Microsoft this week issues the final, free security updates for its Windows 7 operating system, as well as Windows Server 2008 and 2008 R2. But with one-third of all PCs continuing to run Windows 7, experts are urging organizations to immediately move to a more modern operating system.

Cybercrime

Why Penetration Tests Are So Essential

Steve King • January 13, 2020

Corporate network security breaches, which can prove costly to remediate and expose a company to lawsuits, are frequently the result of vulnerabilities that could have been fixed for a relatively low cost. A a brute force penetration test is a critical first step in finding those vulnerabilities.