This weekly brief highlights the latest threat intelligence news to provide insight into the latest threats to various industries.
“More than 100 industry experts from the U.S. banking and financial services industry quietly collaborated on a groundbreaking cyber resilience initiative dubbed Sheltered Harbor earlier this year. The initiative provides its members with an extra layer of security. If a catastrophic cyber-attack brings down a member bank, then another bank takes over. The premise behind Sheltered Harbor is that some banks and financial services firms will inevitably suffer cyber-attacks, and when that happens, customers will be harmed. If a bank is participating in the new initiative and they are the victim of a major data breach, then their customers will have minimal disruption to their financial accounts. To put it another way for tech challenged consumers, there’s a bank, and a backup bank.”
“A collection of poorer countries in Eastern Europe are the only places in cyberspace where ransomware isn’t seen as a top threat. Cybercriminals aren’t ignoring nations like Ukraine. Instead, to make the most of malware, hackers are finding different ways to extract value from poor countries whose population is still connected to the internet. Knowing that residents in less-developed countries are less likely be able to pay ransoms, criminals are heavily targeting poorer regions with malware that uses victims’ computers to mine cryptocurrency. Cryptojacking software is the most common infection in Ukraine, Bulgaria, Romania and Greece. Recent research found 2,500 websites currently engaged in cryptojacking.”
“An online group that supports the Islamic State released a new video warning of an upcoming cyber war. The group named the United States as its first target. The group, dubbed by security researchers as “Electronic Ghosts of the Caliphate,” claimed to be the “hackers of the Islamic State” and threatened cyber-attacks against the enemies of ISIS, starting with an attack against the U.S. The group is just the latest pro-ISIS group to promise a return to cyber warfare, where ISIS has been somewhat stifled since crackdowns on the terrorist organization’s activity were implemented by major tech companies and social media sites.”
“According to the research firm Gartner, Australia is expected to spend $3.8 billion on cybersecurity in 2018, up 6.5 percent from 2017, predicting that spending will be driven by regulations, shifting buyer mindset, awareness of emerging threats and the evolution to a digital business strategy. A total of 512 respondents from Australia, Canada, France, Germany, India, Singapore, the United Kingdom and the United States participated in the firm’s survey, which shows that worldwide spending is forecasted to a total of US$96.3 billion in 2018, up seven percent from 2017.”