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The landscape of cybersecurity in financial services is undergoing a rapid transformation. Cybercriminals are exploiting advanced technologies and methodologies, making traditional security measures obsolete. The challenges are compounded for community banks that must safeguard sensitive financial data against the same level of sophisticated threats as larger institutions, but often with more limited resources. The FinServ Threat Landscape Recent trends show an alarming increase in sophisticated cyber-attacks. Cybercriminals now deploy advanced techniques like deep fake technology and AI-powered attacks, making it increasingly difficult for banks to differentiate between legitimate and malicious activities. These developments necessitate a shift towards more sophisticated and adaptive cybersecurity measures. Take these industry statistics, for example. Financial firms report 703 cyberattack attempts per week.1 On average, 270 attacks (entailing unauthorized access of data, appl...

The infamous malware loader and initial access broker known as  Bumblebee  has resurfaced after a four-month absence as part of a new phishing campaign observed in February 2024. Enterprise security firm Proofpoint said the activity targets organizations in the U.S. with voicemail-themed lures containing links to OneDrive URLs. "The URLs led to a Word file with names such as "ReleaseEvans#96.docm" (the digits before the file extension varied)," the company  said  in a Tuesday report. "The Word document spoofed the consumer electronics company Humane." Opening the document leverages VBA macros to launch a PowerShell command to download and execute another PowerShell script from a remote server that, in turn, retrieves and runs the Bumblebee loader. Bumblebee,  first spotted  in March 2022, is mainly designed to download and execute follow-on payloads such as ransomware. It has been put to use by multiple crimeware threat actors that previously observe...

A newly disclosed security flaw in the Microsoft Defender SmartScreen has been exploited as a zero-day by an advanced persistent threat actor called  Water Hydra  (aka DarkCasino) targeting financial market traders. Trend Micro, which began tracking the campaign in late December 2023, said it entails the exploitation of CVE-2024-21412, a security bypass vulnerability related to Internet Shortcut Files (.URL).  "In this attack chain, the threat actor leveraged CVE-2024-21412 to bypass Microsoft Defender SmartScreen and infect victims with the DarkMe malware," the cybersecurity firm  said  in a Tuesday report. Microsoft, which  addressed  the flaw in its February Patch Tuesday update, said an unauthenticated attacker could exploit the flaw by sending the targeted user a specially crafted file in order to bypass displayed security checks. However, successful exploitation banks on the prerequisite that the threat actor convinces the victim to click o...

SaaS Adoption is Skyrocketing, Resilience Hasn't Kept Pace SaaS platforms have revolutionized how businesses operate. They simplify collaboration, accelerate deployment, and reduce the overhead of managing infrastructure. But with their rise comes a subtle, dangerous assumption: that the convenience of SaaS extends to resilience. It doesn't. These platforms weren't built with full-scale data protection in mind . Most follow a shared responsibility model — wherein the provider ensures uptime and application security, but the data inside is your responsibility. In a world of hybrid architectures, global teams, and relentless cyber threats, that responsibility is harder than ever to manage. Modern organizations are being stretched across: Hybrid and multi-cloud environments with decentralized data sprawl Complex integration layers between IaaS, SaaS, and legacy systems Expanding regulatory pressure with steeper penalties for noncompliance Escalating ransomware threats and inside...

Microsoft has released patches to address  73 security flaws  spanning its software lineup as part of its Patch Tuesday updates for February 2024, including two zero-days that have come under active exploitation. Of the 73 vulnerabilities, 5 are rated Critical, 65 are rated Important, and three and rated Moderate in severity. This is in addition to  24 flaws  that have been fixed in the Chromium-based Edge browser since the release of the January 2024 Patch Tuesday updates . The two flaws that are listed as under active attack at the time of release are below - CVE-2024-21351  (CVSS score: 7.6) - Windows SmartScreen Security Feature Bypass Vulnerability CVE-2024-21412  (CVSS score: 8.1) - Internet Shortcut Files Security Feature Bypass Vulnerability "The vulnerability allows a malicious actor to inject code into  SmartScreen  and potentially gain code execution, which could potentially lead to some data exposure, lack of system availabilit...

The  Glupteba  botnet has been found to incorporate a previously undocumented Unified Extensible Firmware Interface ( UEFI ) bootkit feature, adding another layer of sophistication and stealth to the malware. "This bootkit can intervene and control the [operating system] boot process, enabling Glupteba to hide itself and create a stealthy persistence that can be extremely difficult to detect and remove," Palo Alto Networks Unit 42 researchers Lior Rochberger and Dan Yashnik  said  in a Monday analysis. Glupteba is a fully-featured information stealer and backdoor capable of facilitating illicit cryptocurrency mining and deploying proxy components on infected hosts. It's also known to leverage the Bitcoin blockchain as a backup command-and-control (C2) system, making it  resilient to takedown efforts . Some of the other functions allow it to deliver additional payloads, siphon credentials, and credit card data, perform ad fraud, and even exploit routers to ga...

The threat actors behind the PikaBot malware have made significant changes to the malware in what has been described as a case of "devolution." "Although it appears to be in a new development cycle and testing phase, the developers have reduced the complexity of the code by removing advanced obfuscation techniques and changing the network communications," Zscaler ThreatLabz researcher Nikolaos Pantazopoulos  said . PikaBot,  first documented  by the cybersecurity firm in May 2023, is a malware loader and a backdoor that can execute commands and inject payloads from a command-and-control (C2) server as well as allow the attacker to control the infected host. It is also known to halt its execution should the system's language be Russian or Ukrainian, indicating that the operators are either based in Russia or Ukraine. In recent months, both PikaBot and another loader called DarkGate have emerged as  attractive replacements  for threat actors such as  Wa...

The Midnight Blizzard and Cloudflare-Atlassian cybersecurity incidents raised alarms about the vulnerabilities inherent in major SaaS platforms. These incidents illustrate the stakes involved in SaaS breaches — safeguarding the integrity of SaaS apps and their sensitive data is critical but is not easy. Common threat vectors such as sophisticated spear-phishing, misconfigurations and vulnerabilities in third-party app integrations demonstrate the complex security challenges facing IT systems. In the case of Midnight Blizzard, password spraying against a test environment was the initial attack vector. For Cloudflare-Atlassian, threat actors initiated the attack via compromised  OAuth tokens  from a prior breach at Okta, a SaaS identity security provider.  What Exactly Happened? Microsoft Midnight Blizzard Breach Microsoft was targeted by the Russian "Midnight Blizzard" hackers (also known as Nobelium, APT29, or Cozy Bear) who are linked to the SVR, the Kremlin's forei...

Threat actors are leveraging a recently disclosed security flaw impacting Ivanti Connect Secure, Policy Secure, and ZTA gateways to deploy a backdoor codenamed  DSLog  on susceptible devices. That's according to  findings  from Orange Cyberdefense, which said it observed the exploitation of CVE-2024-21893 within hours of the public release of the proof-the-concept (PoC) code. CVE-2024-21893, which was  disclosed  by Ivanti late last month alongside CVE-2024-21888, refers to a server-side request forgery (SSRF) vulnerability in the SAML module that, if successfully exploited, could permit access to otherwise restricted resources sans any authentication. The Utah-based company has since acknowledged that the flaw has limited targeted attacks, although the exact scale of the compromises is unclear. Then, last week, the Shadowserver Foundation  revealed  a surge in exploitation attempts targeting the vulnerability originating from over 170 uniqu...

The U.S. Cybersecurity and Infrastructure Security Agency (CISA) on Monday  added  a medium-severity security flaw impacting Roundcube email software to its Known Exploited Vulnerabilities ( KEV ) catalog, based on evidence of active exploitation. The issue, tracked as  CVE-2023-43770  (CVSS score: 6.1), relates to a cross-site scripting (XSS) flaw that stems from the handling of linkrefs in plain text messages. "Roundcube Webmail contains a persistent cross-site scripting (XSS) vulnerability that can lead to information disclosure via malicious link references in plain/text messages," CISA said. According to a description of the bug on NIST's National Vulnerability Database (NVD), the vulnerability impacts Roundcube versions before 1.4.14, 1.5.x before 1.5.4, and 1.6.x before 1.6.3. The flaw was  addressed  by Roundcube maintainers with  version 1.6.3 , which was released on September 15, 2023. Zscaler security researcher Niraj Shivtarkar has be...