Tag Archive for: grab

Ransomware May Grab the Headlines, But You Shouldn’t Ignore the Cyber Threat of FTF : Risk & Insurance


Funds transfer fraud may not make headlines like ransomware, but it can be just as devastating for small businesses if they are not prepared.

When we think about cyber-related risk, the term “ransomware” isn’t far behind. Ransomware is indeed an extremely detrimental risk for companies, sometimes even going so far as to bankrupt and shutter doors; but, it’s not the only cyber risk businesses should be watching.

Business email compromise (BEC) has proven to be an expanding avenue for funds transfer fraud, or FTF, which is a low-tech attack that disproportionately targets small businesses.

As Catherine Lyle, head of claims at Coalition, explained, threat actors (TAs) often perpetuate FTF using social engineering techniques like phishing. They intend to gain access to a business’ email system to cause a business email compromise. Once a TA has access to a corporate mailbox, the TA often manipulates a user’s contacts and inbox, looking for payment instructions.

This kind of attack usually happens without triggering any security alerts.

“The TA, using rule changes or other hidden techniques, then launches a game of ‘monkey in the middle,’ pretending to be the email sender and hiding real emails requesting payment or changes in wiring instructions from the waiting victim” Lyle said.

Because the email appears to come from a trusted source, the victim doesn’t question its authenticity and complies with the request. Even if the victim responds to ask if the payment request is legitimate, the TA will reply as their assumed host.

FTF is often the primary means of attack, and, as a result, it’s a very common tactic for targeting small businesses.

With fewer options to pivot inside a network and less infrastructure and data to hold hostage in a ransomware attack, smaller organizations become easier targets for TAs. In fact, funds transfer fraud is becoming more common, skyrocketing in the first half of 2021.

Small Business’ Risk

According to Coalition’s 2022 Cyber Claims Report, the initial FTF loss, defined as the loss before Coalition recovered funds, surged to an

Source…

Bluetooth security: Flaw could allow nearby attacker to grab your private data

  1. Bluetooth security: Flaw could allow nearby attacker to grab your private data  ZDNet
  2. Major Bluetooth Security Flaw Has Been Discovered by Intel And Fixes Are Already Out For Android And iOS  News18
  3. Update Your iPhones And Androids Now If You Don’t Want Your Bluetooth Hacked  Forbes
  4. Bluetooth SIG Security Update | Bluetooth Technology Website  Bluetooth SIG
  5. Full coverage

android security news – read more

New Android Cleaning App Pulls Dirty Tricks to Grab Admin Rights – Security Intelligence (blog)


Security Intelligence (blog)

New Android Cleaning App Pulls Dirty Tricks to Grab Admin Rights
Security Intelligence (blog)
While games remain the top category across both Android and iOS, there's a growing focus on security. Users are concerned about the threat posed by third-party apps, malicious emails and mobile ransomware. So it's no surprise that a new threat known as …

and more »

android security – read more

Ex-cyber security chief says Government is ‘using’ Westminster attack to grab unnecessary spying powers – The Independent


The Independent

Ex-cyber security chief says Government is 'using' Westminster attack to grab unnecessary spying powers
The Independent
The Ministry of Defence's former cyber security chief has accused the Government of trying to “use” the devastating Westminster attack to grab unnecessary and intrusive surveillance powers. Major General Jonathan Shaw said ministers were attempting to

and more »

internet security news – read more