Cybercrime News
Vodacom Partners With Trend Micro Expanding its Cybersecurity Offerings
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Take Steps Now to Protect Your Organisation as Ransomware-as-a-Service Ramps Up DDoS Attack Offerings
Image sourced from Ben Kerckx, Pixabay. The services industry has traditionally included sectors ranging from social assistance and health care to transportation and scientific services. However, it doesn’t end there, because the human talent for innovation can turn almost anything into a service. We also find – rather less top-of-mind for most people – the offer of hitmen-as-a-service, usually associated, at least in Hollywood, with large and well-muscled men in expensive suits and sunglasses. A few years ago, this area of business moved into the cyber arena as well. And so we present: ransomware-as-a-service. Today, one of its latest offerings is a ‘triple threat’ that turns Distributed Denial of Service (DDoS) attacks into an even more lethal cyber weapon against organisations. Carole H...
A Cyberattack Happens Every 11 Seconds, Choose Your Cloud Wisely
Sourced from International IDEA Cybersecurity experts predict that there is currently a cyberattack incident approximately every 11 seconds worldwide. This is almost double what it was in 2019 (every 19 seconds), and four times more than five years ago (every 40 seconds in 2016). Aside from these concerning statistics, what is even more alarming is the degree to which the sophistication of these attacks has grown. We are just over a year and a half into the pandemic and the way organisations approach cybersecurity has been embraced at an accelerated pace. With the vast majority of companies adopting fully remote or hybrid working arrangements, there has been a firm focus on the implementation of additional cybersecurity measures to keep critical operations secure. But, despite all efforts ...
35% of SAns Have Never Used Dating Apps Because They Fear Scammers
Sourced from TechSpot and PC World. According to the findings of a study by cybersecurity firm Kaspersky, dating app scammers pose a serious barrier to people wanting to use such services. In particular, 35% of respondents in South Africa are afraid to use them, as they fear being deceived by fraudsters, and 35% generally do not trust people in dating apps. However, only 17% of respondents were targeted by cybercriminals, and 34% who contacted fraudsters managed to avoid an attack. Millions of individuals use online dating applications or social networking sites in order to find a partner. But instead of finding love, many people encounter a con artist attempting to dupe them into giving money. Scammers are drawn to dating services because they know that people on these platforms are looki...
South Africa Sees 42% Increase in Financial Malware in First Half of 2021
Sourced from Tech Advisor A combination of increasingly sophisticated propagation technologies and continued economic uncertainties resulting from the COVID-19 pandemic have seen the number of financial malware attacks reported in South Africa during the first half of 2021 increase by more than 10,400 over the comparative period last year, according to Kaspersky research. “Of these attacks, 24% targeted corporate users. This makes financial malware attacks a significant cybersecurity risk facing the local market today across both the consumer and business sectors,” says Bethwel Opil, Enterprise Sales Manager at Kaspersky in Africa. Remote Work Leads to Security Lapses Local organisations have become susceptible to financial malware as more employees work outside the relative safety of the ...
The High Cost of Cybercrime is Getting Higher
Image sourced from Finance Times. If cybercrime organizations could be publicly traded, we’d have an instant new multibillion-dollar industry sector. Indeed, cyber threats have become so pervasive that U.S. President Joe Biden recently signed an executive order aimed at improving federal cybersecurity in the wake of multiple significant cyberattacks, including the ransomware attack that shut down the Colonial Pipeline. Meanwhile, a broad coalition of experts in the industry, government, law enforcement, civil society, and international organizations have joined together in the Ransomware Task Force to build a framework for combatting ransomware. Ransomware attacks are only one method, however. Threat actors also use distributed denial-of-service (DDoS) attacks to ratchet up the p...
Ports in SA Have Mostly Returned to Operations Following Transnet Cyberattack
Image sourced from News24. Ports in South Africa have mostly returned to normal operations, according to the country’s government. Last week, SA’s port operations authority, Transnet, was struck by a massive ransomware attack that crippled its digital systems leaving South Africa’s key container terminal in disarray. “The return to operations is good news for the economy, as the Transnet ports and rail system are the backbone of the economy,” the ministry for public enterprises shared in a statement on Wednesday. Transnet was left with no choice but to declare force majeure following the cyberattack on 22 July 2021. Force majeure is a legal clause that wavers any liability from Transnet for not being able to provide promised services for its clients. The clause is usually reserved for “act...
Transnet Declares ‘Force Majeure’ After Crippling Cyber Attack
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Using AI to Beat Cybercriminals at their Own Game
Artificial intelligence (AI) technology is a powerful technology, and because of this, it holds great potential for exploitation by cybercriminals. Considering this, the only way that security leaders can stay ahead of bad actors is by gaining a true understanding of how this technology can be weaponised. Then, they can begin to develop effective strategies for confronting AI threats head-on. Malicious Uses of AI Technology As AI grows in adoption and sophistication, cybercriminals are looking for ways to seize upon its potential. The Electronic Frontier Foundation was already warning about potential malicious uses of AI back in 2018, including threats to digital, physical, and political security. And now, AI precursors combined with swarm technology can be used to infiltrate a networ...
Cryptocurrency and Cybercrime: 3 Insights You Need to Know
Image sourced from Shutterstock. Criminals have kept pace with changing technologies by no longer wanting their crimes to generate hard cash – bitcoin has become the currency of choice. That’s particularly true for cybercrime, where ransomware is booming as criminals infiltrate organisations’ IT systems and threaten to publish or destroy crucial data unless a ransom is paid in Bitcoin. Here are 3 insights you need to know about the links between cybercrime and cryptocurrency: 1. Cryptocurrency is Fuelling Cybercrime Ransomware payments have become so huge that attacks are mounting daily. A recent high-profile case was an attack on the US Colonial Pipeline, causing the system that carries 2.5 million barrels of oil a day to be shut off. It’s become such a lucrative business that some syndic...
11 Critical Steps Security Officers Need to Take During a Ransomware Attack
Sourced from Kaspersky Ransomware attacks have increased in volume, morphing and evolving through the years, especially recently, into the debilitating attacks we see today. According to a recent Global Threat Landscape Report from FortiGuard Labs, ransomware attacks increased sevenfold in the last half of 2020 and became even more disruptive. Recently, a massive ransomware attack on IT services provider Kaseya resulted in widespread threats against companies across 17 countries. Tactics from threat actors continue to shift and defenders need to not only continue to get the “basics” of defensive strategies correct but continuously evaluate their own organisation’s security policies to ensure they still provide adequate responses against today’s ransomware threat actors. CISOs are...
WhatsApp Overwhelmingly Popular for Phishing Scammers, According to Kaspersky
Anonymised data, voluntarily provided by Kaspersky Internet Security for Android users, has shown which messenger apps are the most popular among phishing scammers. The biggest share of detected malicious links between December 2020 and May 2021 were overwhelmingly sent via WhatsApp (84.9%), followed by Telegram (5.7%). “Percentage of Phishing Detections by Messanger App.” Courtesy of Kaspersky. Viber is in third place with a share of 4.9% and Hangouts has less than 1%. Countries experiencing the highest number of phishing attacks were Russia (46%), Brazil (15%) and India (7%). Globally, 480 detections were recorded per day. Messenger Apps Surge in Popularity According to research, messenger apps outstripped social networks by 20% in 2020, in terms of popularity among users, and ...
