Tag Archive for: Brand

Ransomware now dispenses with data encryption and blackmails with brand exposure – Intelligent CIO LATAM

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With Brazil already facing an overwhelming wave of ransomware attacks, Hilmar Becker, Country Manager, F5 networks, Brazil, warns of a switch in tactics by threat actors – leaving organisations even more exposed.

Hilmar Becker, Country Manager, F5 networks, Brazil

Throughout 2023, a harsh reality set in.

The ever-evolving threat landscape has ransomware continuing to wreak havoc.

Brazil remains in a prominent position in relation to this threat: we are the fourth largest ransomware target in the world, according to a report released in the first half of this year.

Only the US, UK and Spain beat our market in this regard.

The accelerated digitalization of the Brazilian economy is not always accompanied by alignment with the best practices of digital security, which increases the vulnerability of companies to these types of attacks.

For years, the practice of encrypting data and holding it hostage until a payment was made was the hallmark of ransomware attacks. The victim’s dilemma was quite simple: pay the ransom or risk losing access to critical data.

To maintain their effectiveness, ransomware gangs have started to innovate with different tactics.

This is the case of double extortion, in which not only is data encrypted, but also stolen information is threatened to be publicly exposed or sold on the dark web.

The first case of this modality happened in 2019.

Shortly after, in 2020, triple extortion began to make the news, which takes double extortion a step further, taking advantage of confidential information about customers, relatives, or other entities related to the victim.

This is an advanced level of blackmail that starts from the attack on the organization to, at another time,

trigger actions pulverized by all the people who had their data exposed.

In recent months, cybercriminals have introduced yet another technique to their arsenal: unencrypted attacks.

In the face of the overwhelming wave of ransomware affecting Brazil, it has become commonplace for companies to keep backups of their data, and decryption tools are being created to neutralize ransomware variants.

This advocacy has changed digital gangs. Thus,…

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ZeroFox Releases Brand Protection Trends Report, Finds 164% Increase in Cyber Threats Targeting … | News

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WASHINGTON, July 31, 2023 (GLOBE NEWSWIRE) — In our increasingly interconnected digital world, brands face a growing array of external cybersecurity threats that can jeopardize their reputation, customers’ trust, and financial bottom line. According to the latest trend report from ZeroFox (Nasdaq: ZFOX), an enterprise software-as-a-service leader in external cybersecurity, digital threats targeting brands increased by 164% between the first and second quarters of 2023 – a significant jump that underscores the cruciality of securing an organization’s brand against digital risks such as impersonations and fraud.

In the 2023 Brand Protection Trend Report, ZeroFox Intelligence analyzed threat actor behavior targeting organizations’ brands in the second quarter of 2023. The report highlights a concerning quarter-over-quarter spike in both domain and executive impersonations seeking to exploit the trust that brands have built with their customers, causing significant damage to brand reputation and customer loyalty. Brands are a lucrative pawn for threat actors, as hijacking an already-established brand makes it easier to deceive victims in various fraud, scam, and otherwise malicious campaigns.

Key Findings

Among the key findings in the report, ZeroFox Intelligence observed:

  • A 35% increase in verified alerts for brand threats related to fraud, scams, and piracy quarter-over-quarter across the ZeroFox customer base, and a nearly 20% increase in brand-related impersonations.
  • A 26% increase in fraudulent activity tied to brands observed in this quarter; more specifically, fraudulent job postings identified rose by over 50%.
  • A nearly 20% increase in spoofed domains increased in the second quarter of 2023 versus the first quarter, with just over one-third tied to phishing campaigns.
  • A 22% increase in key personnel and corporate social media impersonation accounts with a biography, name and image to legitimize these profiles; those that used a biography with a name only increased 35%.

“Because job seekers and consumers often blame targeted organizations for scams that abuse their brand, these organizations must proactively protect against domain and…

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Tesla Fire Sale in China Fails: Buyers Ignore The Texas Discount Brand

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Recently the Tesla CEO has tried to argue the market with the most buyers in the world is completely hostile to his brand.

You’d think he was talking about China.

He has been repeatedly throwing bigger and bigger discounts there to try and find someone interested in buying his old and sagging cars.

Tesla cut prices in China for the second time in three months, as demand for its cars falters. Elon Musk’s EV maker discounted its cars by up to 13.5%…

Huge price cuts and huge payouts aren’t enough, apparently; Chinese don’t like the Texas discount car brand and for good reasons.

But actually the CEO was talking about California.

…attorneys representing Tesla and Musk argue that the CEO has garnered extensive and negative publicity in California…

His augment is basically that when he does dumb things that make him unpopular (e.g. fraud, repeatedly caught lying and cheating) he should be judged only by people who he thinks like him (who he gives money).

This looks and sounds like a criminal’s getaway plan.

Beg for billions from the government of California, then beg Texas and China to take in the ill-gotten money in exchange for protection from California.

Tesla has received more than $3.2 billion worth of direct and indirect California subsidies and market mechanisms since 2009…

It reminds me of when Uber got into trouble with San Francisco authorities (due to fraud including misleading statements about safety, similar to Tesla).

They then very publicly announced their exit to “more friendly” Arizona, where they subsequently (very predictably) killed a pedestrian and were completely shut down. It never recovered, even in San Francisco.

The Tesla CEO this would be lucky to be tried for his alleged crimes in California, given its more modern justice system and long-term government investments.

Texas and China, like Arizona almost instantly flipping on Uber, have nothing to lose from sending the recently arrived outsider straight to the gallows.

China’s Bernie Madoff Was Executed for Fraud—and Nobody Told His Family

Really.

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Rival Information Security Companies Fight Over Use of Similar Brand Names and Logos

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Red Siege, LLC v. Red Sentry, LLC, Civil Action No. 1:22-cv-04661-LMM (N.D. Ga., Nov. 22, 2022)

Competing information security companies dispute the right to use the name Red Siege and Red Sentry for computer security consultancies. Red Siege, LLC, claims to have been continuously and exclusively using its registered mark in connection with computer consultancy services since at least 2017. The mark is used in commerce on its website, at security trade shows, and conferences. Red Sentry, LLC, has been using the allegedly infringing mark since 2021, when the company changed its name from “Offensive AI Holdings, LLC” to its current name.

According to the complaint, Red Sentry is a direct competitor purporting to sell identical services and causing confusion in the market. The complaint sites at least one third party who asserted at a trade convention that he believed the two companies were affiliated. Red Siege further contends that the Defendant was aware of the pre-existing mark yet purposefully assumed the name to compete, confuse, and trade off the goodwill and success of the original name-holder. As such, Red Siege alleges willful infringement and seeks damages, injunctive relief, and attorneys’ fees and costs.

While Red Siege and Red Sentry battle to use their brand names, domain names, and logos, one wonders whether Red Hat, Inc., which registered its mark in 2000 for similar fields, may decide to enter the fray.

Update: On November 30, Judge May denied Plaintiff Red Siege’s motion for an ex parte temporary restraining order (TRO), giving the Defendant Red Sentry an opportunity to appear and be heard on the merits of the case. A hearing for the Preliminary Injunction is set for December 19.

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