Tag Archive for: Challenges

Cybersecurity – the challenges for fintech

/in


Fintech is one of the business sectors that needs cybersecurity most – and needs it to be most effective. That’s because it’s a sector which, alongside the hardcore functional and ransom-worthy data that makes any business work, also potentially holds the financial data, and therefore direct access to resources, of all its customers. Fintech and cybersecurity should go together like a lock and a key.

Unfortunately, cyber-attackers know that just as much as fintech companies do – which has a tendency to make fintech companies a big prize for bad actors, and a big nightmare for insurers, because in the event that a fintech organization suffers a bad cyber-attack, the implications have far more ripples than would be usual outside of the sector. In the fintech sector, there’s more lucrative damage to be done by targeting the users of the tech, who may have significantly less rigorous cybersecurity in place, than there is in targeting a fintech company head-on. One malicious app, loose in the app ecosystem, can strip fintech users of their assets, and leave the fintech company with a reputation in tatters for failing to prevent the attacks.

Unleash Profitable Chaos!

That level of chaos and potential pay-out inspires bad actors to create ever more sophisticated ways to access everything from banks and neobanks to crypto wallets – and sometimes, to do it in ways that don’t flag up their activities until it’s far too late.

Ways like the new generation SOVA banking trojan, which is making a return in 2022 in a new upgraded form. When it first appeared in September 2021, it could target 90 different apps, and hit both financial and shopping apps, all across the US and Europe, harvesting credentials by launching overlay attacks.

Now, less than a year later, it can infect 200 apps. It hides inside fake apps that use the logos of legitimate traders like Amazon and Google Chrome, and can then scrape credential data at will. That’s made easier in the latest iteration by features that allow it to both capture screenshots and record device screens. It can also get data from your Binance and Trust Wallet accounts, including…

Source…

VideoLAN media player challenges Indian ban • The Register

/in


Developers of the open source VideoLAN media player have started sniping at India’s government over an apparent block on the project’s website.

VideoLAN, aka VLC, develops a media player and transcriber famed for playing and transcoding almost any media format, and doing so quickly through a pleasant interface. The project claims its wares have been downloaded over four billion times.

But for the last few months, would-be users located in India have not been able to download from videolan.org, which has been inaccessible for users of some ISPs and in some states.

Governments and ISPs have offered no explanation for the site’s inaccessibility.

One theory relates to the fact that, in April 2022, Symantec suggested a China-linked crime gang named Cicada was conducting a global espionage campaign using tools including attacks on VideoLAN.

India has banned hundreds of Chinese apps, so blocking videloan.org makes some sense in that context.

As VideoLAN is open source, it’s also possible to create fake versions of the software and embed malware. The project has also had security issues involving opening poisoned media files – but largely blamed them on a dependency rather than its own efforts.

Indian blocks of VideoLAN went largely unnoticed for weeks, until last weekend when Indian media reported on the matter. VideoLAN sprang into action on Twitter.

India’s Internet Freedom Foundation then revealed it had been asking questions about the ban, to no avail.

Source…

Top 5 Internet Security Challenges Today-You Must Know

/in


From governments to small or big companies, the internet has become the backbone of every sector. But, nowadays, internet security is also a severe problem for all.

Starting from online shopping, money transactions, playing games on sites like https://www.ignitioncasino.eu/ or even buying cars and lands—securing the data like credit cards or Login details is one of the biggest challenges in recent times.

Cyber threats can come in different forms like ransomware, blockchain, or phishing attacks. 

So, let’s check out the top 5 internet security challenges and how we can protect our personal and professional data from any potential attacks.

1. Ransomeware attacks

It is the most lucrative type of internet attack, destroying thousands of small and large businesses every year. It involves hacking the data and would not allow the users to access it until they pay the ransom amount. 

Ransomware attacks cause massive losses for individual users as well as companies who need to access the data regularly. To prevent this attack—companies should have Endpoint Protection solutions to protect all business devices from malicious applications.

2. Phishing attacks

It is a type of social engineering attack by hackers to steal the user’s data like their Login details or credit card information. It is not like ransomware attacks. The cybercriminals gain access to the data and then use it for their own purposes like illegal money transfers or shopping. 

Another way hackers regulate phishing campaigns is by stealing the business e-mail account passwords and then using it requesting for payments. Recently, Google stated that it blocks more than 100 million phishing e-mails daily.

3. Cryptocurrency and blockchain attacks

While blockchain or cryptocurrency attacks are not major concerns for average internet users, they may create problems for big companies. Its digital transaction has become a new challenge for data security.

Many blockchain attacks like Sybil, DDOS, and Eclipse have already made headlines regarding the vulnerability of digital wallets. So, it is crucial for a business that uses blockchain to keep a good eye on its IT infrastructure. And also try to improve its cloud…

Source…

TALK20 – N. Razy, N. Loriot – Airbus CyberSecurity – 10 years of challenges and opportunities

/in