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How Businesses Can Safeguard Their Communication Channels Against Hackers

How Businesses Can Safeguard Their Communication Channels Against Hackers

Feb 17, 2024 Cybersecurity / Risk Mitigation
Efficient communication is a cornerstone of business success. Internally, making sure your team communicates seamlessly helps you avoid friction losses, misunderstandings, delays, and overlaps. Externally, frustration-free customer communication is directly correlated to a positive customer experience and higher satisfaction.  However, business communication channels are also a major target for cybercriminals. In recent years, especially since the pandemic, the number of cyberattacks has skyrocketed.  Statistics show  that last year alone, the number of hacks shot up by 38%. Worse, it still takes a business 277 days on average to identify a breach, causing a loss of $4.35 on average. So, how can businesses safeguard their communication channels against hackers, while still providing the best possible experience for customers and maintaining team productivity? Here's everything you need to know – and which  mistakes you need to avoid . Use Secure Platforms  To begin with, there is
Google Starts Blocking Sideloading of Potentially Dangerous Android Apps in Singapore

Google Starts Blocking Sideloading of Potentially Dangerous Android Apps in Singapore

Feb 08, 2024 Data Protection / Mobile Securit
Google has unveiled a new pilot program in Singapore that aims to prevent users from sideloading certain apps that abuse Android app permissions to read one-time passwords and gather sensitive data. "This enhanced fraud protection will analyze and automatically block the installation of apps that may use sensitive runtime permissions frequently abused for financial fraud when the user attempts to install the app from an Internet-sideloading source (web browsers, messaging apps or file managers)," the company  said . The feature is designed to examine the permissions declared by a third-party app in real-time and look for those that seek to gain access to sensitive permissions associated with reading SMS messages, deciphering or dismissing notifications from legitimate apps, and accessibility services that have been  routinely   abused  by Android-based malware for  extracting valuable information . As part of the test, users in Singapore who attempt to sideload such apps
How to Achieve the Best Risk-Based Alerting (Bye-Bye SIEM)

How to Achieve the Best Risk-Based Alerting (Bye-Bye SIEM)

Feb 19, 2024Network Detection and Response
Did you know that Network Detection and Response (NDR) has become the most effective technology to detect cyber threats? In contrast to SIEM, NDR offers adaptive cybersecurity with reduced false alerts and efficient threat response. Are you aware of  Network Detection and Response (NDR)  and how it's become the most effective technology to detect cyber threats?  NDR massively upgrades your security through risk-based alerting, prioritizing alerts based on the potential risk to your organization's systems and data. How? Well, NDR's real-time analysis, machine learning, and threat intelligence provide immediate detection, reducing alert fatigue and enabling better decision-making. In contrast to SIEM, NDR offers adaptive cybersecurity with reduced false positives and efficient threat response. Why Use Risk-Based Alerting? Risk-based alerting is an approach where security alerts and responses are prioritized based on the level of risk they pose to an organization's system
Belarusian National Linked to BTC-e Faces 25 Years for $4 Billion Crypto Money Laundering

Belarusian National Linked to BTC-e Faces 25 Years for $4 Billion Crypto Money Laundering

Feb 05, 2024 Cryptocurrency / Financial Fraud
A 42-year-old Belarusian and Cypriot national with alleged connections to the now-defunct cryptocurrency exchange BTC-e is facing charges related to money laundering and operating an unlicensed money services business. Aliaksandr Klimenka , who was arrested in Latvia on December 21, 2023, was extradited to the U.S. and is currently being held in custody. If convicted, he faces a maximum penalty of 25 years in prison. BTC-e, which had been operating since 2011, was seized by law enforcement authorities in late July 2017 following the arrest of another key member  Alexander Vinnik , in Greece. The exchange is alleged to have received deposits valued at over $4 billion, with Vinnik laundering funds received from the hack of another digital exchange, Mt. Gox, through various online exchanges, including BTC-e. Court documents  allege  that the exchange was a "significant cybercrime and online money laundering entity," allowing its users to trade in bitcoin with high levels of
cyber security

Are You Vulnerable to Third-Party Breaches Through Interconnected SaaS Apps?

websiteWing SecuritySaaS Security / Risk Management
Protect against cascading risks by identifying and mitigating app2app and third-party SaaS vulnerabilities.
DoJ Charges 19 Worldwide in $68 Million xDedic Dark Web Marketplace Fraud

DoJ Charges 19 Worldwide in $68 Million xDedic Dark Web Marketplace Fraud

Jan 08, 2024 Financial Fraud / Cybercrime
The U.S. Department of Justice (DoJ) said it charged 19 individuals worldwide in connection with the now-defunct xDedic Marketplace , which is estimated to have facilitated more than $68 million in fraud. In  wrapping up its investigation  into the dark web portal, the agency said the transnational operation was the result of close cooperation with law enforcement authorities from Belgium, Germany, the Netherlands, Ukraine, and Europol. Of the 19 defendants, three have been sentenced to 6.5 years in prison, eight have been awarded jail terms ranging from one year to five years, and one individual has been ordered to serve five years' probation. One among them includes Glib Oleksandr Ivanov-Tolpintsev, a Ukrainian national who was  sentenced to four years in prison  in May 2022 for selling compromised credentials on xDedic and making $82,648 in illegal profits. Dariy Pankov, described by the DoJ as one of the highest sellers by volume, offered credentials of no less than 35,000 ha
Alert: Chinese-Speaking Hackers Pose as UAE Authority in Latest Smishing Wave

Alert: Chinese-Speaking Hackers Pose as UAE Authority in Latest Smishing Wave

Dec 20, 2023 Identity Theft / SMS Phishing
The Chinese-speaking threat actors behind  Smishing Triad  have been observed masquerading as the United Arab Emirates Federal Authority for Identity and Citizenship to send malicious SMS messages with the ultimate goal of gathering sensitive information from residents and foreigners in the country. "These criminals send malicious links to their victims' mobile devices through SMS or iMessage and use URL-shortening services like Bit.ly to randomize the links they send," Resecurity  said  in a report published this week. "This helps them protect the fake website's domain and hosting location." Smishing Triad was  first documented  by the cybersecurity company in September 2023, highlighting the group's use of compromised Apple iCloud accounts to send smishing messages for carrying out identity theft and financial fraud.  The threat actor is also known to offer ready-to-use smishing kits for sale to other cybercriminals for $200 a month, alongside eng
Microsoft Warns of Hackers Exploiting OAuth for Cryptocurrency Mining and Phishing

Microsoft Warns of Hackers Exploiting OAuth for Cryptocurrency Mining and Phishing

Dec 13, 2023 Cryptocurrency / Threat Analysis
Microsoft has warned that adversaries are using OAuth applications as an automation tool to deploy virtual machines (VMs) for cryptocurrency mining and launch phishing attacks. "Threat actors compromise user accounts to create, modify, and grant high privileges to OAuth applications that they can misuse to hide malicious activity," the Microsoft Threat Intelligence team  said  in an analysis. "The misuse of OAuth also enables threat actors to maintain access to applications even if they lose access to the initially compromised account." OAuth , short for Open Authorization, is an  authorization and delegation framework  (as opposed to authentication) that provides applications the ability to securely access information from other websites without handing over passwords. In the attacks detailed by Microsoft, threat actors have been observed launching phishing or password-spraying attacks against poorly secured accounts with permissions to create or modify OAuth
U.S. Authorities Charge 6 Indian Call Centers Scamming Thousands of Americans

U.S. Authorities Charge 6 Indian Call Centers Scamming Thousands of Americans

Feb 04, 2022
A number of India-based call centers and their directors have been indicted for their alleged role in placing tens of millions of scam calls aimed at defrauding thousands of American consumers. The indictment charged Manu Chawla, Sushil Sachdeva, Nitin Kumar Wadwani, Swarndeep Singh, Dinesh Manohar Sachdev, Gaje Singh Rathore, Sanket Modi, Rajiv Solanki and their respective call centers for conspiring with previously indicted VoIP provider E Sampark and its director, Guarav Gupta, to forward the calls to U.S. citizens. "Criminal India-based call centers defraud U.S. residents, including the elderly, by misleading victims over the telephone utilizing scams such as Social Security and IRS impersonation as well as loan fraud," the U.S. Justice Department  said  in a release. According to the  November 2020 indictment  issued against E Sampark and Gupta, the calls from India-based phone scammers led to reported losses of over $20 million from May 2015 to June 2020, with the c
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