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Black Arrow Cyber Advisory 30/06/2022 – USB drive spread Raspberry Robin worm actively seen in the wild

Black Arrow Cyber Advisory 30/06/2022 – USB drive spread Raspberry Robin worm actively seen in the wild

Executive Summary

Raspberry Robin is the name given to a worm that is being used to infect Windows devices through removable USB drives. The worm disguises itself as a legitimate folder within the drive, when in fact it contains a malicious shortcut (LNK) file. When opened, it launches privileged processes, bypassing user account control to install itself on the device, and connect to a command and control server. This could then allow for lateral movement on the device or network.

What’s the risk to me or my business?

The worm appears to look legitimate and can bypasses some basic security controls on a device. This could cause an unaware user to infect a system, believing that the file is legitimate. This worm is now being seen more prominently in the wild across multiple organisations.

What can I do?

Work with your MSP to ensure that endpoint protection is enabled on user devices, and that it is scanning removable drives on insertion. Policies should be put into place to prevent software launching from a removable drive. Training should be supplied to users to ensure that they do not plug untrusted USB drives into corporate computers.

Technical Summary

Red Canary originally identified and named the worm, which makes use of legitimate processes built into Windows in order to establish persistence on the end user device and make contact with command and control (C2) infrastructure. These processes include CMD and msiexec.exe (Windows Installer). Additional malware is then downloaded via msiexc.exe, of which include regsvr32.exe, rundll32.exe and dllhost.exe to repeatedly attempt to connect to command and control, often via TOR nodes.

Further details can be found here: Raspberry Robin gets the worm early (redcanary.com)

Need help understanding your gaps, or just want some advice? Get in touch with us.

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Black Arrow Cyber Threat Briefing 24 June 2022

Black Arrow Cyber Threat Briefing 24 June 2022:

-The NCSC Sets Out the UK’s Cyber Threat Landscape

-We're Now Truly in The Era of Ransomware as Pure Extortion Without the Encryption

-5 Social Engineering Assumptions That Are Wrong

-Gartner: Regulation, Human Costs Will Create Stormy Cyber Security Weather Ahead

-Ransomware Attacks - This Is the Data That Cyber Criminals Really Want to Steal

-Cloud Email Threats Soar 101% in a Year

-80% of Firms Suffered Identity-Related Breaches in Last 12 Months

-After Being Breached Once, Many Companies Are Likely to Be Hit Again

-Do You Have Ransomware Insurance? Look at the Fine Print

-The Price of Stolen Info: Everything on Sale On The Dark Web

-How Companies Are Prioritizing Infosec and Compliance

-Businesses Risk ‘Catastrophic Financial Loss’ from Cyber Attacks, US Watchdog Warns

Welcome to this week’s Black Arrow Cyber Threat Briefing – a weekly digest, collated and curated by our cyber experts to provide senior and middle management with an easy to digest round up of the most notable threats, vulnerabilities, and cyber related news from the last week.

Top Cyber Stories of the Last Week

  • The NCSC Sets Out the UK’s Cyber Threat Landscape

The current state of the UK’s cyber threat landscape was outlined by the National Cyber Security Centre (NCSC), during a keynote address on the final day of Infosecurity Europe 2022.

They described the cyber threats posed by nation-states, particularly Russia and China. Russia remains “one of the world’s most prolific cyber actors and dedicates significant resources to conducting cyber operations across the globe.”  The NCSC and international partner organisations have attributed a number of high-profile attacks related to the conflict to Russian state actors, including the Viasat incident on the eve of the invasion of Ukraine on February 24. Therefore, the NCSC recommends that organisations prepare for a dynamic situation that is liable to change rapidly.

The NCSC emphasised that a more significant long-term threat comes from China, citing GCHQ director Jeremy Fleming’s assertion that “Russia is affecting the weather, but China is shaping the climate.” She described the nation’s “highly sophisticated” activities in cyberspace, born out of its “increasing ambitions to project its influence beyond its borders.” This includes a keen interest in the UK’s commercial secrets.

In addition to nation-state attacks, the NCSC noted that cyber crime is continuing to rise, with ransomware a continuing concern. Attacks are expected to grow in scale, with threat actors likely to increasingly target managed service providers (MSPs) to gain access to a wider range of targets. More generally, cyber capabilities will become more commoditised over the next few years, meaning they are increasingly available to a larger group of would-be attackers who are willing to pay.

https://www.infosecurity-magazine.com/news/ncsc-uk-cyber-threat-landscape/

  • We're Now Truly in The Era of Ransomware as Pure Extortion Without the Encryption

Increasingly cyber crime rings tracked as ransomware operators are turning toward primarily data theft and extortion – and skipping the encryption step altogether. Rather than scramble files and demand payment for the decryption keys, and all the faff in between in facilitating that, simply exfiltrating the data and demanding a fee to not leak it all is just as effective. This shift has been ongoing for many months, and is now virtually unavoidable.

The FBI and CISA this month warned about a lesser-known extortion gang called Karakurt, which demands ransoms as high as $13 million. Karakurt doesn't target any specific sectors or industries, and the gang's victims haven't had any of their documents encrypted and held to ransom. Instead, the crooks claim to have stolen data, with screenshots or copies of exfiltrated files as proof, and they threaten to sell it or leak it publicly if they don't receive a payment.

Some of these thieves offer discounted ransoms to corporations to encourage them to pay sooner, with the demanded payment getting larger the longer it takes to cough up the cash (or Bitcoin, as the case may be).

Additionally, some crime groups offer sliding-scale payment systems. So you pay for what you get, and depending on the amount of ransom paid you get a control panel, you get customer support, you get all of the tools you need."

https://www.theregister.com/2022/06/25/ransomware_gangs_extortion_feature/

  • 5 Social Engineering Assumptions That Are Wrong

Social engineering is involved in the vast majority of cyber attacks, but a new report from Proofpoint has revealed five common social engineering assumptions that are not only wrong but are repeatedly subverted by malicious actors in their attacks.

  1. Threat actors don’t have conversations with targets.

  2. Legitimate services are safe from social engineering abuse.

  3. Attackers only use computers, not telephones.

  4. Replying to existing email conversations is safe.

  5. Fraudsters only use business-related content as lures.

Commenting on the report’s findings, Sherrod DeGrippo, Proofpoint’s Vice-President Threat Research and Detection, stated that the vendor has attempted to debunk faulty assumptions made by organisations and security teams so they can better protect employees against cyber crime. “Despite defenders’ best efforts, cyber criminals continue to defraud, extort and ransom companies for billions of dollars annually. Security-focused decision makers have prioritised bolstering defences around physical and cloud-based infrastructure, which has led to human beings becoming the most relied upon entry point for compromise. As a result, a wide array of content and techniques continue to be developed to exploit human behaviours and interests.”

Indeed, cyber criminals will go to creative and occasionally unusual lengths to carry out social engineering campaigns, making it more difficult for users to avoid falling victim to them.

https://www.csoonline.com/article/3664932/5-social-engineering-assumptions-that-are-wrong.html#tk.rss_news

  • Gartner: Regulation, Human Costs Will Create Stormy Cyber Security Weather Ahead

Security teams should prepare for what researchers say will be a challenging environment through 2023, with increased pressure from government regulators, partners, and threat actors.

Gartner kicked off its Security & Risk Management Summit with the release of its analysts' assessments of the work ahead, which Richard Addiscott, the company's senior director analyst, discussed during his opening keynote address.

“We can’t fall into old habits and try to treat everything the same as we did in the past,” Addiscott said. “Most security and risk leaders now recognise that major disruption is only one crisis away. We can’t control it, but we can evolve our thinking, our philosophy, our program, and our architecture.”

Topping Gartner's list of eight predictions is a rise in the government regulation of consumer privacy rights and ransomware response, a widespread shift by enterprises to unify security platforms, more zero trust, and, troublingly, the prediction that by 2025 threat actors will likely have figured out how to "weaponise operational technology environments successfully to cause human casualties”, the cyber security report said.

https://www.darkreading.com/attacks-breaches/gartner-regulation-human-cost-stormy-cybersecurity-weather

  • Ransomware Attacks - This Is the Data That Cyber Criminals Really Want to Steal

There are certain types of data that criminals target the most, according to an analysis of attacks.

Data theft and extortion has become a common – and unfortunately effective – part of ransomware attacks, where in addition to encrypting data and demanding a ransom payment for the decryption key, gangs steal information and threaten to publish it if a payment isn't received.

These so-called double extortion attacks have become an effective tool in the arsenal of ransomware gangs, who leverage them to force victims to pay up, even in cases where data could be restored from offline backups, because the threat of sensitive information being published is too great.

Any stolen data is potentially useful to ransomware gangs, but according to analysis by researchers at cyber security company Rapid7, of 161 disclosed ransomware incidents where data was published, some data is seen as more valuable than others.

According to the report, financial services is the sector that is most likely to have customer data exposed, with 82% of incidents involving ransomware gangs accessing and making threats to release this data. Stealing and publishing sensitive customer information would undermine consumer trust in financial services organisations: while being hacked in the first place would be damaging enough, some business leaders might view paying a ransom to avoid further damage caused by data leaks to be worth it.

The second most-leaked type of file in ransomware attacks against financial services firms, featuring in 59% of disclosures from victims, is employee personally identifiable information (PII) and data related to human resources. 

https://www.zdnet.com/article/ransomware-attacks-this-is-the-data-that-cyber-criminals-really-want-to-steal/

  • Cloud Email Threats Soar 101% in a Year

The number of email-borne cyber-threats blocked by Trend Micro surged by triple digits last year, highlighting the continued risk from conventional attack vectors.

The vendor stopped over 33.6 million such threats reaching customers via cloud-based email in 2021, a 101% increase. This included 16.5 million phishing emails, a 138% year-on-year increase, of which 6.5 million were credential phishing attempts.

Trend Micro also blocked 3.3 million malicious files in cloud-based emails, including a 134% increase in known threats and a 221% increase in unknown malware.

The news comes as Proofpoint warned in a new report of the continued dangers posed by social engineering, and the mistaken assumptions many users make. 

Many users don’t realise that threat actors may spend considerable time and effort building a rapport over email with their victims, especially if they’re trying to conduct a business email compromise (BEC) attack, it said.

https://www.infosecurity-magazine.com/news/cloud-email-threats-soar-101-in-a/

  • 80% of Firms Suffered Identity-Related Breaches in Last 12 Months

Rapidly growing employee identities, third-party partners, and machine nodes have companies scrambling to secure credential information, software secrets, and cloud identities, according to researchers.

In a survey of IT and identity professionals from Dimensional Research, almost every organisation — 98% — experienced rapid growth in the number of identities that have to be managed, with that growth driven by expanding cloud usage, more third-party partners, and machine identities. Furthermore, businesses are also seeing an increase in breaches because of this, with 84% of firms suffering an identity-related breach in the past 12 months, compared with 79% in a previous study covering two years.

The number and complexity of identities organisations are having to manage and secure is increasing. Whenever there is an increase in identities, there is a corresponding heightened risk of identity-related breaches due to them not being properly managed and secured, and with the attack surfaces also growing exponentially, these breaches can occur on multiple fronts.

For the most part, organisations focus on employee identities, which 70% consider to be the most likely to be breached and 58% believe to have the greatest impact, according to the 2022 "Trends in Securing Digital Identities" report based on the survey. Yet third-party partners and business customers are significant sources of risk as well, with 35% and 25% of respondents considering those to be a major source of breaches, respectively.

https://www.darkreading.com/operations/identity-related-breaches-last-12-months

  • After Being Breached Once, Many Companies Are Likely to Be Hit Again

Cymulate announced the results of a survey, revealing that two-thirds of companies who have been hit by cyber crime in the past year have been hit more than once, with almost 10% experiencing 10 or so more attacks a year.

Research taken from 858 security professionals surveyed across North America, EMEA, APAC and LATAM across a wide range of industries including technology, banking, finance and government, also highlighted larger companies hit by cyber crime are experiencing shorter disruption time and damage to business with 40% reported low damage compared with medium-size businesses (less than 2,500 employees) which had longer recovery times and more business affecting damage.

Other highlights

  • 40% of respondents admitted to being breached over the past 12 months.

  • After being breached once, statistics showed they were more likely to be hit again than not (66%).

  • Malware (55%), and more specifically ransomware (40%) and DDoS (32%) were the main forms of cyber attacks experienced by those surveyed.

  • Attacks primarily occurred via end-user phishing (56%), via third parties connected to the enterprise (37%) or direct attacks on enterprise networks (34%).

  • 22% of companies publicly disclosed cyber attacks in the worst-case breaches, with 35% needing to hire security consultants, 12% dismissing their current security professionals and 12% hiring public relations consultants to deal with the repercussions to their reputations. Top three best practices for cyber attack prevention, mitigation and remediation include multi-factor authentication (67%), proactive corporate phishing and awareness campaigns (53%), and well-planned and practiced incident response plans (44%). Least privilege also ranked highly, at 43%.

  • 29% of attacks come from insider threats – intentionally or unintentionally.

  • Leadership and cyber security teams who meet regularly to discuss risk reduction are more cyber security-ready – those who met 15 times a year incurred zero breaches whereas those who suffered six or more breaches met under nine times on average.

https://www.helpnetsecurity.com/2022/06/21/companies-hit-by-cybercrime/

  • Do You Have Ransomware Insurance? Look at the Fine Print

Insurance exists to protect the insured party against catastrophe, but the insurer needs protection so that its policies are not abused – and that's where the fine print comes in. However, in the case of ransomware insurance, the fine print is becoming contentious and arguably undermining the usefulness of ransomware insurance.

In recent years, ransomware insurance has grown as a product field because organisations are trying to buy protection against the catastrophic effects of a successful ransomware attack. Why try to buy insurance? Well, a single, successful attack can just about wipe out a large organisation, or lead to crippling costs – NotPetya alone led to a total of $10bn in damages.

Ransomware attacks are notoriously difficult to protect against completely. Like any other potentially catastrophic event, insurers stepped in to offer an insurance product. In exchange for a premium, insurers promise to cover many of the damages resulting from a ransomware attack.

Depending on the policy, a ransomware policy could cover loss of income if the attack disrupts operations, or loss of valuable data, if data is erased due to the ransomware event. A policy may also cover you for extortion – in others, it will refund the ransom demanded by the criminal.

The exact payout and terms will of course be defined in the policy document, also called the "fine print." Critically, fine print also contains exclusions, in other words circumstances under which the policy won't pay out. And therein lies the problem.

https://thehackernews.com/2022/06/do-you-have-ransomware-insurance-look.html

  • The Price of Stolen Info: Everything on Sale on The Dark Web

What is the price for personal information, including credit cards and bank accounts, on the dark web?

Privacy Affairs researchers concluded that criminals using the dark web need only spend $1,115 for a complete set of a person’s account details, enabling them to create fake IDs and forge private documents, such as passports and driver’s licenses.

Access to other information is becoming even cheaper. The Dark Web Price Index 2022 – based on data scanning dark web marketplaces, forums, and websites, revealed:

  • Credit card details and associated information cost between $17-$120

  • Online banking login information costs $45

  • Hacked Facebook accounts cost $45

  • Cloned VISA with PIN cost $20

  • Stolen PayPal account details, with minimum $1000 balances, cost $20.

In December 2021, about 4.5 million credit cards went up for sale on the dark web, the study found. The average price ranged from $1-$20.

Scammers can buy full credit card details, including CVV number, card number, associated dates, and even the email, physical address and phone number. This enables them to penetrate the credit card processing chain, overriding any security countermeasures.

https://www.helpnetsecurity.com/2022/06/22/stolen-info-sale-dark-web/

  • How Companies Are Prioritising Infosec and Compliance

New research conducted by Enterprise Management Associates (EMA), examines the impact of the compliance budget on security strategy and priorities. It describes areas for which companies prioritise information security and compliance, which leaders control information security spending, how compliance has shifted the overall security strategy of the organisation, and the solutions and tools on which organisations are focusing their technology spending.

The findings cover three critical areas of an organisation’s security and compliance posture: information security and IT audit and compliance, data security and data privacy, and security and compliance spending.

One key takeaway is that merging security and compliance priorities addresses regulatory control gaps while improving the organisation’s security posture. Respondents revealed insights on how they handle compliance, who is responsible for compliance and security responsibilities, and what compliance-related security challenges organisations face.

Additional findings:

  • Companies found the need to shift their information security strategy to address compliance priorities (93%).

  • Information security and IT compliance priorities are generally aligned (89%).

  • Existing security tools have to address data privacy considerations going forward (76%).

  • Managing an organisation’s multiple IT environments and the controls that govern those environments is the greatest challenge in the IT audit and compliance space (39%).

https://www.helpnetsecurity.com/2022/06/24/companies-infosec-compliance-priorities/

  • Businesses Risk ‘Catastrophic Financial Loss’ from Cyber Attacks, US Watchdog Warns

A US Government watchdog has warned that private insurance companies are increasingly backing out of covering damages from major cyber attacks — leaving businesses facing “catastrophic financial loss” unless another insurance model can be found.

The growing challenge of covering cyber risk is outlined in a new report from the Government Accountability Office (GAO), which calls for a government assessment of whether a federal cyber insurance option is needed.

The report draws on threat assessments from the National Security Agency (NSA), Office of the Director of National Intelligence (ODNI), Cybersecurity and Infrastructure Security Agency (CISA), and Department of Justice, to quantify the risk of cyber attacks on critical infrastructure, identifying vulnerable technologies that might be attacked and a range of threat actors capable of exploiting them.

Citing an annual threat assessment released by the ODNI, the report finds that hacking groups linked to Russia, China, Iran, and North Korea pose the greatest threat to US infrastructure — along with certain non-state actors like organised cyber criminal gangs.

Given the wide and increasingly skilled range of actors willing to target US entities, the number of cyber incidents is rising at an alarming rate.

https://www.theverge.com/2022/6/23/23180115/gao-infrastructure-catastrophic-financial-loss-cyberattacks-insurance


Threats

Ransomware

Phishing & Email Based Attacks

Other Social Engineering

Malware

Mobile

Internet of Things – IoT

Data Breaches/Leaks

Cryptocurrency/Cryptomining/Cryptojacking/NFTs/Blockchain

Insider Risk and Insider Threats

Fraud, Scams & Financial Crime

Supply Chain and Third Parties

Cloud/SaaS

Identity and Access Management

Open Source

Training, Education and Awareness

Privacy

Regulations, Fines and Legislation

Law Enforcement Action and Take Downs

Spyware, Cyber Espionage & Cyber Warfare, including Russian Invasion of Ukraine




Vulnerabilities

Sector Specific

Financial Services Sector

SMBs – Small and Medium Businesses

Legal

Health/Medical/Pharma Sector

Retail/eCommerce

Manufacturing

CNI, OT, ICS, IIoT and SCADA


Reports Published in the Last Week



As usual, contact us to help assess where your risks lie and to ensure you are doing all you can do to keep you and your business secure.

Look out for our ‘Cyber Tip Tuesday’ video blog and on our YouTube channel.

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Links to articles are for interest and awareness and linking to or reposting external content does not endorse any service or product, likewise we are not responsible for the security of external links.

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Black Arrow Cyber Threat Briefing 17 June 2022

Black Arrow Cyber Threat Briefing 17 June 2022

-How Organisations Can Protect Themselves in The Emerging Risk Landscape

-Phishing Reaches All-Time High in Early 2022

-Ransomware Attacks Are Surging, with More Dangerous Hybrid Attacks to Come. Is Your Cyber Security Up to Date?

-The Challenges of Managing Increased Complexity As Hybrid IT Accelerates

-72% Of Middle Market Companies Expect to Experience a Cyber Attack

-Malware's Destruction Trajectory and How to Defeat It

-Which Stolen Data Are Ransomware Gangs Most Likely to Disclose?

-Threat Actors Becoming More Creative Exploiting the Human Factor

-66% Of Organisations Store 21%-60% Of Their Sensitive Data in The Cloud

-Travel-related Cyber Crime Takes Off as Industry Rebounds

-How Should You Think About Security When Considering Digital Transformation Projects?

-Internet Explorer Now Retired but Still an Attacker Target

Welcome to this week’s Black Arrow Cyber Threat Briefing – a weekly digest, collated and curated by our cyber experts to provide senior and middle management with an easy to digest round up of the most notable threats, vulnerabilities, and cyber related news from the last week.

Top Cyber Stories of the Last Week

  • How Organisations Can Protect Themselves in The Emerging Risk Landscape

ThoughtLab’s 2022 cyber security benchmarking study ‘Cyber Security Solutions for a Riskier World’ revealed that the pandemic has brought cyber security to a critical inflection point. The number of material breaches that respondents suffered rose 20.5% from 2020 to 2021, and cyber security budgets as a percentage of firms’ total revenue jumped 51%, from 0.53% to 0.80%.

During that time, cyber security has become a strategic business imperative, requiring CEOs and their management teams to work together to meet the higher expectations of regulators, shareholders, and the board.

https://www.helpnetsecurity.com/2022/06/13/cybersecurity-strategic-business-imperative-video/

  • Phishing Reaches All-Time High in Early 2022

The Anti-Phishing Working Group (APWG) Phishing Activity Trends Report reveals that in the first quarter of 2022 there were 1,025,968 total phishing attacks—the worst quarter for phishing observed to date. This quarter was the first time the three-month total has exceeded one million. There were 384,291 attacks in March 2022, which was a record monthly total.

In the first quarter of 2022, OpSec Security reported that phishing attacks against the financial sector, which includes banks, remained the largest set of attacks, accounting for 23.6 percent of all phishing. Attacks against webmail and software-as-a-service (SaaS) providers remained prevalent as well, while attacks against retail/ecommerce sites fell from 17.3 to 14.6 percent after the holiday shopping season.

Phishing against social media services rose markedly, from 8.5 percent of all attacks in 4Q2021 to 12.5 percent in 1Q2022. Phishing against cryptocurrency targets—such as cryptocurrency exchanges and wallet providers—inched up from 6.5 in the previous quarter to 6.6 percent of attacks.

https://www.helpnetsecurity.com/2022/06/15/2022-total-phishing-attacks/

  • Ransomware Attacks Are Surging, with More Dangerous Hybrid Attacks to Come. Is Your Cyber Security Up to Date?

Time to reassess your cyber security strategies. Again.

Ransomware attacks on businesses have increased by one-third in the past year, according to a recent report by the Boston-based cyber security company Cybereason. 

Most (73 percent of businesses) were hit by at least one ransomware attack in the past year, and 68 percent of businesses that paid a ransom were hit again in less than a month for a higher ransom, according to the survey, which polled 1,456 cyber security professionals at global companies with 700 or more employees.

These attacks have big implications: Thirty-seven percent of companies were forced to lay off employees after paying ransoms, and 33 percent were forced to temporarily suspend business.

Since the invasion of Ukraine, cyber security experts have insisted businesses improve their lines of defence to protect against an increased risk of ransomware attacks from Russia. ​Ransomware attacks have also increased since the start of the pandemic--the rise of remote work increased vulnerability for many businesses, which hackers have taken advantage of, a 2020 FBI memo noted. So, enterprises of all sizes are at risk from many more points of attack.

https://www.inc.com/rebecca-deczynski/ransomware-attacks-increasing-cyber-security-advice.html

  • The Challenges of Managing Increased Complexity as Hybrid IT Accelerates

SolarWinds released the findings of its ninth annual IT Trends Report which examines the acceleration of digital transformation efforts and its impact on IT departments. The report found the acceleration of hybrid IT has increased network complexity for most organisations and caused several worrisome challenges for IT professionals.

Hybrid and remote work have amplified the impact of distributed and complex IT environments. Running workloads and applications across both cloud and on-premises infrastructure can be challenging, and many organisations are increasingly experiencing—and ultimately hindered by—these pain points.

As more and more mission-critical workloads move to connected cloud architectures that span public, private, hybrid, and multi-cloud environments, enterprises recognise they need to invest in the tools that will help them ensure consistent policies and performance across all platforms and end users. However, they simultaneously face challenges such as budget, time constraints, and barriers to implementing observability as a strategy to keep pace with hybrid IT realities.

However professionals feel less confident in their organisation’s ability to manage IT. While 54% of respondents state they leverage monitoring strategies to manage this complexity, 49% revealed they lack visibility into the majority of their organisation’s apps and infrastructure. This lack of visibility impacts their ability to conduct anomaly detection, easy root-cause analysis, and other critical processes to ensure the availability, performance, and security of business-critical applications.

https://www.helpnetsecurity.com/2022/06/16/hybrid-it-acceleration-challenges/

  • 72% Of Middle Market Companies Expect to Experience a Cyber Attack

Middle market companies face an increasingly volatile cyber security environment, with threats coming from more directions than ever before and more skilled criminals targeting the segment, according to an RSM US and US Chamber of Commerce report.

However, there is good news as the number of breaches reported in the last year among middle market companies slightly decreased with protections becoming more available and executives understanding the consequences related to potential incidents. Twenty-two percent of middle market leaders claimed that their company experienced a data breach in the last year, representing a drop from 28% in last year’s survey, suggesting that even with enhanced protections in place and the decrease in attacks, companies cannot afford to let their guard down.

The middle market encountered a roller coaster of risks in the last year, from lingering threats related to the COVID-19 pandemic to geopolitical conflicts and economic uncertainty.

The small drop in reported breaches is encouraging, and largely attributed to middle market companies beginning to implement better identity and access management controls. Yet, even with the decline in reported attacks, companies recognise the risks posed by the current dynamic threat environment, with 72% of executives anticipating that unauthorised users will attempt to access data or systems in 2022, a sharp rise from 64% last year and the highest number since RSM began tracking data in 2015.

https://www.helpnetsecurity.com/2022/06/16/middle-market-companies-cybersecurity/

  • Malware's Destruction Trajectory and How to Defeat It

Malware and targeted attacks on operating systems and firmware have become increasingly destructive in nature, and these more nefarious attack methods are rising in prevalence. And just to add insult to injury, there are more of them. Today’s attacks are hitting more often, and they are hitting harder.

In the first three decades of its existence, malware was primarily restricted to mischief and attempts by virus creators to discover if their creations would work. But now the threat landscape has changed from simple vandalism to lucrative cyber crime and state-sponsored attacks.

Wiper malware, in particular, has gained traction in recent months. The FortiGuard Labs research team has seen at least seven different malware attacks targeting Ukrainian infrastructure or Ukrainian companies so far this year. The primary reason for using Wiper malware is its sheer destructiveness – the intent is to cripple infrastructure. What does the increased presence of Wiper malware strains indicate? And what do security leaders need to know and do to keep their organisation safe? Read more…

https://www.securityweek.com/malwares-destruction-trajectory-and-how-defeat-it

  • Which Stolen Data Are Ransomware Gangs Most Likely to Disclose?

If your organisation gets hit by a ransomware gang that has also managed to steal company data before hitting the “encrypt” button, which types of data are more likely to end up being disclosed as you debate internally on whether you should pay the ransomware gang off?

Rapid7 analysed 161 data disclosures performed by ransomware gangs using the double extortion approach between April 2020 and February 2022, and found that:

  • The most commonly leaked data is financial (63%), followed by customer/patient data (48%)

  • Files containing intellectual property (e.g., trade secrets, research data, etc.) are rarely disclosed (12%) by ransomware gangs, but if the organisation is part of the pharmaceutical industry, the risk of IP data being disclosed is considerably higher (43%), “likely due to the high value placed on research and development within this industry.”

https://www.helpnetsecurity.com/2022/06/17/ransomware-data-disclosed/

  • Threat Actors Becoming More Creative Exploiting the Human Factor

Threat actors exhibited "ceaseless creativity" last year when attacking the Achilles heel of every organisation—its human capital—according to Proofpoint's annual The Human Factor 2022 report. The report, released June 2, draws on a multi-trillion datapoint graph created from the company's deployments to identify the latest attack trends by malicious players.

"Last year, attackers demonstrated just how unscrupulous they really are, making protecting people from cyber threats an ongoing—and often eye-opening—challenge for organisations,” Proofpoint said in a statement.

The combination of remote work and the blurring of work and personal life on smartphones have influenced attacker techniques, the report notes. During the year, SMS phishing, or smishing, attempts more than doubled in the United States, while in the UK, 50% of phishing lures focused on delivery notifications. An expectation that more people were likely working from home even drove good, old-fashioned voice scams, with more than 100,000 telephone attacks a day being launched by cyber criminals.

https://www.csoonline.com/article/3663478/threat-actors-becoming-more-creative-exploiting-the-human-factor.html#tk.rss_news

  • 66% Of Organisations Store 21%-60% Of Their Sensitive Data in The Cloud

A Thales report, conducted by 451 Research, reveals that 45% of businesses have experienced a cloud-based data breach or failed audit in the past 12 months, up 5% from the previous year, raising even greater concerns regarding the protection of sensitive data from cyber criminals.

Globally, cloud adoption and notably multicloud adoption, remains on the rise. In 2021, organisations worldwide were using an average amount of 110 software as a service (SaaS) applications, compared with just eight in 2015, showcasing a startlingly rapid increase.

With increasing complexity of multicloud environments comes an even greater need for robust cyber security. When asked what percentage of their sensitive data is stored in the cloud, 66% said between 21-60%. However, only 25% said they could fully classify all data.

https://www.helpnetsecurity.com/2022/06/16/cloud-based-data-breach-video/

  • Travel-related Cyber Crime Takes Off as Industry Rebounds

An upsurge in the tourism industry after the COVID-19 pandemic grabs the attention of cyber criminals to scam the tourists.

Researchers are warning a post-COVID upsurge in travel has painted a bullseye on the travel industry and has spurred related cyber crimes.

Criminal activity includes an uptick in adversaries targeting the theft of airline mileage reward points, website credentials for travel websites and travel-related databases breaches, according to a report by Intel 471.

The impact of the attacks are hacked accounts stripped of value. But also, researchers say the consequences of recent attacks can also include flight delays and cancelations as airlines grapple with mitigating hacks.

https://threatpost.com/travel-related-cybercrime-takes-off/179962/

  • How Should You Think About Security When Considering Digital Transformation Projects?

Digital transformation helps businesses keep operating and stay competitive. Here are the ways to think about security so that businesses reap the benefits without taking on associated risks.

Multiple factors contribute to the sheer number of digital transformation projects underway today: the proliferation of the Internet of Things (IoT), expanding artificial intelligence (AI) capabilities, the sudden shift to a remote workforce prompted by the global COVID-19 pandemic, and the rapid rate of cloud migration. Digital transformation is no longer a nice-to-have; it’s a must-have in order to survive and thrive in today’s business world.

CISOs and their security teams need to think about security in the digital age from both an internal and an external perspective. For the former, security teams should introduce and adopt digital enablers to transform the information security organisation. Digital enablers include the cloud, IoT, AI/machine learning (ML), and automation to transform the information security organisation.

For the latter, they should address potential risks as new digital enablers are introduced by the business to drive growth.

Here are five specific areas security teams should prioritise to achieve security-first digital transformation:

  1. Security operations modernisation

  2. Developer-centric security

  3. Cloud strategy and execution

  4. Connected devices

  5. Big data and analytics

As important as it is to keep the business operating and competitive, organisations must transform securely. Keeping security at the forefront gives the business the benefits of digital transformation without the associated risks.

https://www.darkreading.com/edge-ask-the-experts/how-should-i-think-about-security-when-considering-digital-transformation-projects-

  • Internet Explorer Now Retired but Still an Attacker Target

Microsoft's official end-of-support for the Internet Explorer 11 desktop application on June 15 relegated to history a browser that's been around for almost 27 years. Even so, IE still likely will provide a juicy target for attackers.

That's because some organisations are still using Internet Explorer (IE) despite Microsoft's long-known plans to deprecate the technology. Microsoft meanwhile has retained the MSHTML (aka Trident) IE browser engine as part of Windows 11 until 2029, allowing organisations to run in IE mode while they transition to the Microsoft Edge browser. In other words, IE isn't dead just yet, nor are threats to it.

Though IE has a negligible share of the browser market worldwide these days (0.52%), many enterprises still run it or have legacy applications tied to IE. This appears to be the case in countries such as Japan and Korea. Stories in Nikkei Asia and Japan Times this week quoted a survey by Keyman's Net showing that nearly 49% of 350 Japanese companies surveyed are still using IE. Another report in South Korea's MBN pointed to several large organisations still running IE.

https://www.darkreading.com/vulnerabilities-threats/internet-explorer-will-likely-remain-an-attacker-target-for-some-time


Threats

Ransomware

Phishing & Email Based Attacks

Other Social Engineering

Malware

Mobile

Internet of Things - IoT

Data Breaches/Leaks

Organised Crime & Criminal Actors

Cryptocurrency/Cryptomining/Cryptojacking/NFTs

Insider Risk and Insider Threats

Fraud, Scams & Financial Crime

Dark Web

Supply Chain and Third Parties

Denial of Service DoS/DDoS

Cloud/SaaS

Privacy

Passwords, Credential Stuffing & Brute Force Attacks

Travel

Regulations, Fines and Legislation

Law Enforcement Action and Take Downs

Spyware, Cyber Espionage & Cyber Warfare, including Russian Invasion of Ukraine




Vulnerabilities





As usual, contact us to help assess where your risks lie and to ensure you are doing all you can do to keep you and your business secure.

Look out for our ‘Cyber Tip Tuesday’ video blog and on our YouTube channel.

You can also follow us on Facebook, Twitter and LinkedIn.

Links to articles are for interest and awareness and linking to or reposting external content does not endorse any service or product, likewise we are not responsible for the security of external links.

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Black Arrow Cyber Advisory 17/06/2022 – Citrix ADM

Black Arrow Cyber Advisory 17/06/2022 – Citrix ADM

Executive Summary

Citrix Application Delivery and Management (Citrix ADM), is a web-based software application used for managing Citrix deployments for an organisation. Two vulnerabilities have been disclosed by Citrix, one of which could allow for a remote, unauthenticated user to reset the administrator password on the server, granting administrator access after a reboot.

Executive Summary

Citrix Application Delivery and Management (Citrix ADM), is a web-based software application used for managing Citrix deployments for an organisation.  Two vulnerabilities have been disclosed by Citrix, one of which could allow for a remote, unauthenticated user to reset the administrator password on the server, granting administrator access after a reboot.

What’s the risk to me or my business?

This vulnerability could lead to a remote user gaining privileged access to the system which facilitates Citrix deployments, which in turn could be used to access business data through these servers leading to further compromise.

What can I do?

Contact your Managed Service Provider to confirm if Citrix ADM (Hosted) is currently being used to manage Citrix deployments for you organisation and confirm if the vulnerability is being managed and patched in line with Citrix guidance. It is important to note that the Citrix ADM Service, which is the cloud solution, is not affected by this vulnerability. Only hosted solutions are affected.

Technical Summary

Only limited technical details have been supplied by Citrix so far relating to the two vulnerabilities. CVE-2022-27511, which currently does not have a CVS rating, allows a remote, unauthenticated user to corrupt a system which can lead to the reset of the administrator password on reboot, which they can then login with using the default credentials over SSH.

CVE-2022-27512, which also does not currently have a CVS rating, allows temporary disruption to the ADM license service, which can prevent new licences from being issued or renewed from the Citrix ADM.

Further details can be found here: Citrix Application Delivery Management Security Bulletin for CVE-2022-27511 and CVE-2022-27512

Need help understanding your gaps, or just want some advice? Get in touch with us.

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Black Arrow Cyber Advisory 15/06/2022 – Microsoft Patch Tuesday – ‘Follina’ vulnerability addressed with other security updates

Black Arrow Cyber Advisory 15/06/2022 – Microsoft Patch Tuesday – ‘Follina’ vulnerability addressed with other security updates.

Executive Summary

Microsoft’s June Patch Tuesday provides updates across all Windows platforms to address critical security issues. This includes updates that address a critical zero-day flaw which allows remote malicious access to the Microsoft Windows Support Diagnostic Tool (MSDT) through Microsoft Office, which has commonly been named ‘Follina’.

Internet Explorer is also set to officially retire today, meaning that going forward any legacy applications will need to be accessed using Microsoft Edge’s Internet Explorer Mode.

Security updates have also been released for other Microsoft products to tackle different issues.

What’s the risk to me or my business?

Security updates are available for all supported versions of Windows. As some of these updates address vulnerabilities that are known to be actively exploited, the updates should be applied as soon as possible.

What can I do?

Apply the available updates from Microsoft as soon as possible, while taking into consideration any potential downtime that these updates may cause.

If legacy applications are still present that require Internet Explorer, then access to these should be advised through Microsoft Edge’s Internet Explorer Mode. As these applications are very likely to be unsupported themselves, steps should be taken to either move away from the legacy applications, or to establish firm risk-based controls for protection and use of the applications.

Technical Summary

CVE-2022-30190 relate to the ‘Follina’ vulnerability. The timeline for the actual disclosure of this issue to Microsoft is not completely clear, there are reports that the issue was originally identified within a university dissertation back in August 2020, with multiple occasions after that where the issue had been reported to Microsoft without a formal CVE being raised. Microsoft has now raised a formal CVE: CVE-2022-30190 - Security Update Guide - Microsoft - Microsoft Windows Support Diagnostic Tool (MSDT) Remote Code Execution Vulnerability and has supplied mitigation steps: Guidance for CVE-2022-30190 Microsoft Support Diagnostic Tool Vulnerability – Microsoft Security Response Center. As a high-level summary, the exploit works by having word download template information from an external source over the internet, which contains malicious code that can execute the MSDT software, which in itself can execute PowerShell commands.

Further details on specific updates within this months Patch Tuesday can be found here: Microsoft Windows Security Updates June 2022 overview - gHacks Tech News

Information on Microsoft Edge’s Internet Explorer Mode can be found here: What is Internet Explorer mode? | Microsoft Docs

Need help understanding your gaps, or just want some advice? Get in touch with us.

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Black Arrow Cyber Threat Briefing 10 June 2022

Black Arrow Cyber Threat Briefing 10 June 2022

-Business Email Compromise (BEC) Attacks Have Risen 53% Year-Over-Year

-Ransomware Attacks Setting New Records

-Hackers Are Now Hiding Inside Networks for Longer. That's Not a Good Sign

-Paying Ransomware Paints Bigger Bullseye on Target’s Back

-Organisations Fix Only 1 in 10 Vulnerabilities Monthly

-Cyber Attack Surface "Spiralling Out of Control"

-Phishing Hits All-Time High in Q1 2022

-Ransomware's ROI Retreat Will Drive More BEC Attacks

-The Real Cost of Cyber Attacks: What Organisations Should Be Prepared For

-Why Smishing and Vishing Attempts Surged In 2021?

-Know Your Enemy! Learn How Cyber Crime Adversaries Get In…

-Small Businesses Struggle with an Increase in Cyber Attacks

Welcome to this week’s Black Arrow Cyber Threat Briefing – a weekly digest, collated and curated by our cyber experts to provide senior and middle management with an easy to digest round up of the most notable threats, vulnerabilities, and cyber related news from the last week.

Top Cyber Stories of the Last Week

  • Business Email Compromise (BEC) Attacks Have Risen 53% Year-Over-Year

Armorblox released a report which highlights the use of language-based attacks that bypass existing email security controls. The report uncovers how the continued increase in remote working has made critical business workflows even more vulnerable to new forms of email-based attacks, often resulting in financial fraud or credential theft.

Language-based attacks have become the new normal for business email compromise (BEC) with 74% of these attacks using language as the main attack vector.

Security teams spend a massive amount of time configuring rules and exceptions in their email security solutions to block impersonation emails – both for executives and other employees. Despite all of that manual work and rule writing, 70% of impersonation emails evaded email security controls.

https://www.helpnetsecurity.com/2022/06/06/language-based-attacks-email-video/

  • Ransomware Attacks Setting New Records

Zscaler released the findings of its annual ThreatLabz Ransomware Report, which revealed an 80 percent increase in ransomware attacks year-over-year.

In 2022, the most prevalent ransomware trends include double-extortion, supply chain attacks, ransomware-as-a-service, ransomware rebranding, and geo-political incited ransomware attacks. The report details which industries are being targeted the most by cyber criminals, explains the damage caused by double-extortion and supply chain attacks, and catalogues the most active ransomware groups operating today.

Modern ransomware attacks require a single successful asset compromise to gain initial entry, move laterally, and breach the entire environment, making legacy VPN and flat networks extremely vulnerable. Attackers are finding success exploiting weaknesses across businesses’ supply chains as well as critical vulnerabilities like Log4Shell, PrintNightmare, and others. And with ransomware-as-a-service available on the darkweb, more and more criminals are turning to ransomware, realising that the odds of receiving a big payday are high.

The tactics and scope of ransomware attacks have been steadily evolving, but the end goal continues to be a disruption of the target organisation and theft of sensitive information for the purposes of ransom. The size of the ransom often depends on the number of systems infected and the value of the data stolen: the higher the stakes, the higher the payment. In 2019, many ransomware groups updated their tactics to include data exfiltration, commonly referred to as a ‘double extortion’ ransomware.

https://www.helpnetsecurity.com/2022/06/07/ransomware-attacks-increase/

  • Hackers Are Now Hiding Inside Networks for Longer. That's Not a Good Sign

Cyber criminals are spending more time inside networks before they're discovered, and that's allowing them to do more damage.

The amount of time cyber criminal intruders are spending inside victims' networks is increasing, providing them with the ability to carry out higher complexity campaigns and more damaging cyber attacks.

According to analysis by cyber security researchers at Sophos, who examined incidents targeting organisations around the world and across a wide range of industry sectors, the median dwell time that cyber criminals spend inside compromised networks is now 15 days, up from 11 days the previous year.

Dwell time is the amount of time hackers are inside the network before they're discovered or before they leave – and being able to spend an increased amount of time inside a compromised network undetected means they're able to more carefully conduct malicious activity, such as monitoring users, stealing data or laying the foundations for a malware or ransomware attack.

https://www.zdnet.com/article/hackers-are-now-hiding-inside-networks-for-longer-thats-not-a-good-sign/

  • Paying Ransomware Paints Bigger Bullseye on Target’s Back

Ransomware attackers often strike targets twice, regardless of whether the ransom was paid.

Paying ransomware attackers doesn’t pay off and often paints a bigger target on a victim’s back. Eighty percent of ransomware victims that paid their attackers were hit a second time by the malware scourge.

New ransomware numbers come from a Cybereason’s April ransomware survey of 1,456 cyber security professionals. According to the gated report (registration required), victims that were successfully extorted were not only targeted a second time, but frequently data encrypted by criminals later became unusable during the decryption process because of corruption issues.

The fact that ransomware gangs strike so quickly a second and third time isn’t surprising, because they will try to profit in any possible way so why not hit the same company, demand a higher ransom, and get paid again?

https://threatpost.com/paying-ransomware-bullseye-back/179915/

  • Organisations Fix Only 1 in 10 Vulnerabilities Monthly

New research from SecurityScorecard features a couple of eye-popping “only” findings: Only 10 percent of vulnerabilities are remediated each month, and only 60 percent of companies have improved their security profile despite a 15-fold increase in the number of cyber incidents in the last three years.

That’s not good. The research, which sought to measure how long it took the 1.6 million organisations assessed to remediate vulnerabilities in the three-year period from 2019 to 2022, also found the following:

·       53% had at least one exposed vulnerability to the internet, while 22% of organisations amassed more than 1,000 vulnerabilities each, confirming more progress is required to protect organisations’ critical assets.

·       The financial sector is among the slowest remediation rates (median to fix 50% = 426 days), while utilities ranked among the fastest (median = 270 days).

·       Despite a 15-fold increase in exploitation activity for vulnerabilities with published exploit code, there was little evidence that organisations in the financial sector fixed exploited flaws faster.

·       The IT sector (62.6%) and public sector (61.6%) had the highest prevalence of open vulnerabilities.

·       The financial sector (48.6%) exhibited the lowest proportion of open vulnerabilities; however, there is less than a 10% difference between this and other sectors in terms of industries with the most open vulnerabilities.

·       It typically takes organisations 12 months to remediate half of the vulnerabilities in their internet-facing infrastructure.

·       When firms have fewer than 10 open vulnerabilities, it can take about a month to close just half of them, but when the list grows into the hundreds, it takes up to a year to reach the halfway point.

https://www.msspalert.com/cybersecurity-research/organizations-fix-only-1-in-10-vulnerabilities-monthly/

  • Cyber Attack Surface "Spiralling Out of Control"

Global organisations are still beset with cyber visibility and control challenges, with two-fifths (43%) admitting their digital attack surface is out of control as a result, according to new Trend Micro research.

The security vendor polled over 6200 IT and business decision-makers to compile its new study, ‘Mapping the digital attack surface: Why global organisations are struggling to manage cyber risk’.

It revealed that nearly three-quarters (73%) are concerned about the increasing size of their attack surface. Over a third (37%) said it is “constantly evolving and messy,” and just half (51%) thought they were able to fully define its extent.

These visibility challenges are greatest in cloud environments, although problems persist across the board. The report highlights complex supply chains, tool bloat and home working-driven shadow IT as additional contributory factors.

On average, respondents estimated having just 62% visibility of their attack surface.

https://www.infosecurity-magazine.com/news/cyberattack-surface-out-of-control/

  • Phishing Hits All-Time High in Q1 2022

The first quarter of 2022 saw phishing attacks hit a record high, topping one million for the first time, according to data from the Anti Phishing Working Group (APWG).

The industry, law enforcement and government coalition’s new Phishing Activity Trends Report also revealed that March was the worst month on record for phishing, with 384,291 attacks detected.

The financial sector was the worst hit, accounting for 24% of all detected attacks, although webmail and SaaS providers were also popular targets.

Attacks spoofing retailers dropped 17% from the previous quarter to 15% following the busy holiday shopping season, while those against social media services rose significantly, from nearly 9% percent of all attacks to 13% over the same period.

https://www.infosecurity-magazine.com/news/phishing-hits-all-time-high-q1/

  • Ransomware's ROI Retreat Will Drive More BEC Attacks

Law enforcement crackdowns, tighter cryptocurrency regulations, and ransomware-as-a-service (RaaS) operator shutdowns are driving down the return on investment for ransomware operations across the globe.

A presentation at the RSA Conference last week laid out analysis of the ransomware threat landscape, predicting that there will be a pivot from ransomware toward renewed interest in basic business email compromise (BEC) attacks in the next 6 to 12 months.

Ransomware attacks grab headlines and have been supercharged by a few prolific RaaS operators, but crackdowns on just one group can make an enormous dent.

Ransomware is a centralised ecosystem with small numbers of operators responsible for the majority of attacks.

The recent disappearance of Pysa, left just two groups, Conti and Lockbit, with more than 50% of the share of the total ransomware attacks in the first half of 2022. BEC groups, on the other hand, are diffuse and scattered, making them much harder to eradicate.

Although they're not as quick to make the headlines, BEC attacks have cost business more than $43 billion since 2016, according to the FBI, and make up $1 out of every $3 lost to cyber attacks, far outpacing ransomware losses.

Ransomware has had a moment over the past couple of years, in part because once threat actors were able to abandon arcane wire transfers to collect ransoms and rely on cryptocurrency, caps on transactions were lifted and it became simple to collect much larger amounts. But new crypto regulations are chilling the ability of these cyber criminals to rely on its infrastructure to do business, adding "friction" to the transactions.

BEC attacks, by comparison, rely on social engineering to corrupt a business's financial supply chain to get employees to willingly part with the cash, making them exponentially harder to track and stop. 

https://www.darkreading.com/threat-intelligence/retreat-of-ransomware-roi-will-drive-bec-attacks-analyst-warns

  • The Real Cost of Cyber Attacks: What Organisations Should Be Prepared For

With each passing year, hackers and cyber criminals of all kinds are becoming more sophisticated, malicious, and greedy conducting brazen and often destructive cyber-attacks that can severely disrupt a company’s business operations. And this is a big problem, because, first and foremost, customers rely on a company’s ability to deliver services or products in a timely manner. Cyber attacks not only can affect customers’ data, but they can impact service delivery.

Data breaches and costs associated with them have been on the rise for the past few years, but, according to a 2021 report, the average cost per breach increased from $3.86 million in 2020 to $4.24 million in 2021. The report also identified four categories contributing most global data breach costs – Lost business cost (38%), Detection and escalation (29%), Post breach response (27%), and Notification (6%).

Ransomware attacks cost an average of $4.62 million (the cost of a ransom is not included), and destructive wiper-style attacks cost an average of $4.69 million, the report said.

For a business, a data breach is not just a loss of data, it can also have a long-lasting impact on operations and undermine customers’ trust in the company. In fact, a survey revealed that 87% of consumers are willing to take their business elsewhere if they don’t trust a company is handling their data responsibly. Therefore, the reputational damage might be detrimental to a business’ ability to attract new customers.

https://informationsecuritybuzz.com/articles/the-real-cost-of-cyber-attacks-what-organizations-should-be-prepared-for/

  • Why Smishing and Vishing Attempts Surged In 2021

In The Human Factor Report 2022, security vendor Proofpoint found that SMS phishing (smishing) attacks more than doubled year-on-year in 2021. The report is based on their analysis of over 2.6 billion email messages, 49 billion URLs, 1.9 billion attachments, 28 million cloud accounts and 1.7 billion mobile messages.

The study details the most common attack surfaces and methods including categories of risk, vulnerabilities, attacks, Russian Aligned APT’s, and Privilege as a vector.

Key Findings:

  • Managers and executives make up only 10% of users, but almost 50% of the most severe attack risk

  • Attackers attempt to initiate more than 100,000 telephone-oriented attacks every day.

  • Malicious URLS are 3-4x more common than malicious attachments.

  • Smishing attempts more than doubled in the US over the year, while in the UK over 50% of lures are themed around delivery notification.

  • More than 20 million messages attempted to deliver malware linked to eventual ransomware attack

  • Data loss prevention alerts have stabilised as businesses adopt permanent hybrid work models.

  • 80% of businesses are attacked by a compromised supplier account in any given month.

  • 35% of cloud tenants that received a suspicious login also saw suspicious post-access activity.

https://informationsecuritybuzz.com/expert-comments/why-smishing-and-vishing-attempts-surged-in-2021/

  • Know Your Enemy! Learn How Cyber Crime Adversaries Get In…

Cyber security vendor Sophos dug into the incident reports of 144 real-life cyber attacks investigated by its Rapid Response team during 2021.

What they found might not surprise you, but it’s vital information nevertheless, because it’s what really happened, not merely what might have.

Notably:

  • Unpatched vulnerabilities were the entry point for close to 50% of the attackers.

  • Attackers stuck around for more than a month on average when ransomware wasn’t their primary goal.

  • Attackers were known to have stolen data in about 40% of incidents. (Not all data thefts can be proved, of course, given that there isn’t a gaping hole where your copy of the data used to be, so the true number could be much higher.)

  • RDP was abused to circumnavigate the network by more than 80% of attackers once they’d broken in.

Intriguingly, if perhaps unsurprisingly, the smaller the organisation, the longer the crooks had generally been in the network before anyone noticed and decided it was time to kick them out.

In businesses with 250 staff and below, the crooks stuck around (in the jargon, this is known by the quaintly archaic automotive metaphor of dwell time) for more than seven weeks on average.

This compared with an average dwell time of just under three weeks for organisations with more than 3000 employees.

As you can imagine, however, ransomware criminals typically stayed hidden for much shorter periods (just under two weeks, instead of just over a month), not least because ransomware attacks are inherently self-limiting.

After all, once ransomware crooks have scrambled all your data, they’re out of hiding and straight into their in-your-face blackmail phase.

https://nakedsecurity.sophos.com/2022/06/07/know-your-enemy-learn-how-cybercrime-adversaries-get-in/

  • Small Businesses Struggle with an Increase in Cyber Attacks

Part of the problem: They don’t believe they are targets, so they don’t make security a priority. Cyber attacks are becoming more common for small businesses, and many aren’t prepared to deal with an attack.

As small businesses have accelerated their adoption of new technologies for remote work, communication, production and sales during the pandemic, their expanded computer networks have created new vulnerabilities to phishing and ransomware attacks. But many small businesses still don’t expect to be targeted by hackers, so preparing for a cyber attack is well down their list of priorities.

https://www.wsj.com/articles/small-business-cyberattacks-increase-11654540786


Threats

Ransomware

BEC – Business Email Compromise

Phishing & Email Based Attacks

Other Social Engineering

Malware

Mobile

IoT

Data Breaches/Leaks

Organised Crime & Criminal Actors

Cryptocurrency/Cryptomining/Cryptojacking/NFTs

Fraud, Scams & Financial Crime

AML/CFT/Sanctions

Insurance

Dark Web

Software Supply Chain

Denial of Service DoS/DDoS

Cloud/SaaS

Attack Surface Management

Open Source

Privacy

Parental Controls and Child Safety

Law Enforcement Action and Take Downs

Spyware, Espionage & Cyber Warfare, including Russian Invasion of Ukraine








As usual, contact us to help assess where your risks lie and to ensure you are doing all you can do to keep you and your business secure.

Look out for our ‘Cyber Tip Tuesday’ video blog and on our YouTube channel.

You can also follow us on Facebook, Twitter and LinkedIn.

Links to articles are for interest and awareness and linking to or reposting external content does not endorse any service or product, likewise we are not responsible for the security of external links.

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Black Arrow Cyber Threat Briefing 03 June 2022

Black Arrow Cyber Threat Briefing 03 June 2022

-Turbulent Cyber Insurance Market Sees Rising Prices and Sinking Coverage

-Ransomware Attacks Still The #1 Threat to Businesses and Organisations

-Third of UK Firms Have Experienced a Security Breach Since 2020

-There Is No Good Digital Transformation Without Cyber Security

-Ransomware Gang Now Hacks Corporate Websites to Show Ransom Notes

-Attackers Are Leveraging Follina, a Critical Microsoft Windows Vulnerability Affecting Nearly All Versions of Windows and Windows Server. What Can You Do?

-Ransomware Attacks Need Less Than Four Days to Encrypt Systems

-57% Of All Digital Crimes In 2021 Were Scams

-Intelligence Is Key to Strategic Business Decisions

-How Cyber Criminals Are Targeting Executives at Home and Their Families

Welcome to this week’s Black Arrow Cyber Threat Briefing – a weekly digest, collated and curated by our cyber experts to provide senior and middle management with an easy to digest round up of the most notable threats, vulnerabilities, and cyber related news from the last week.

Top Cyber Stories of the Last Week

  • Turbulent Cyber Insurance Market Sees Rising Prices And Sinking Coverage

As insurers and brokers reckon with unexpected losses, they're charging more for policies and setting higher requirements.

Chaos reigns in the cyber insurance market. Brokers and cyber insurance carriers — the companies that actually offer the policies — are tightening requirements on what applicants need to do to obtain policies due to losses the insurers have suffered from ransomware coverage. During the past year, premiums grew 18% in the first quarter of 2021 and were up 34% in the fourth quarter of 2021, according to Jess Burn, senior analyst at Forrester.

Organisations often find they cannot obtain cyber insurance, are not being renewed for coverage they already have, or are faced with soaring prices and shrinking coverage. Despite the value many organisations put on cyber insurance — in some cases, they're required to carry it to comply with regulations — obtaining such policies is getting more difficult.

While raising premiums, some insurers are reducing coverage. If an organisation bought $10 million worth of coverage for a given price in 2021, for example, renewing that policy in 2022 might see the coverage amount fall to $3 million and the premiums for that lower coverage rise. This phenomenon is due, in part, to insurers trying to strike the right balance of customers' risk profile versus their risk-mitigation efforts.

https://www.darkreading.com/edge-articles/turbulent-cyber-insurance-market-sees-rising-prices-and-sinking-coverage

  • Ransomware Attacks Still The #1 Threat To Businesses And Organisations

In 2021, ransomware attacks continued to be one of the most prominent threats targeting businesses and organisations worldwide.

High-profile attacks disrupted operations of companies in various sectors.

For example, the Colonial Pipeline attack interrupted critical infrastructure, the JBS Foods attack influenced food processing, and the CNA breach disrupted the insurance industry.

Following the attacks, pressure of law enforcement on ransomware gangs intensified, though simultaneously these threat actors continued to evolve.

They are not only becoming more technologically sophisticated but are also extensively leveraging the growing cyber crime ecosystem looking to find new partners, services and tools for their operations.

https://www.helpnetsecurity.com/2022/05/30/ransomware-trends-video/

  • Third Of UK Firms Have Experienced A Security Breach Since 2020

Cyber threats are behind soaring fraud and economic crime in the UK, where rates are now second only globally to South Africa, according to PwC.

The consulting giant’s latest Global Economic Crime Survey revealed that nearly two-thirds (64%) of UK businesses experienced fraud, corruption or other economic/financial crime during the past 24 months, a significant increase on the 56% recorded in 2020, and 50% in 2018.

It’s also much higher than the 2022 global average of 46%, PwC said.

Cyber crime was the most commonly reported fraud type, although figures here dropped from 42% in 2020 to 32% in 2022. Included for the first time in the report, supply chain incidents accounted for 19%.

Most (51%) reported fraud cases in the UK were traced back to external parties, versus just 43% globally. The top three culprits were cited as customers, hackers and vendors/suppliers.

https://www.infosecurity-magazine.com/news/third-uk-security-breach-2020/

  • There Is No Good Digital Transformation Without Cyber Security

Network engineers and CIOs agree that cyber security issues represent the biggest risk for organisations that fail to put networks at the heart of digital transformation plans. According to research commissioned by Opengear, 53% of network engineers and 52% of CIOs polled in the US, UK, France, Germany, and Australia rank cyber security among the list of their biggest risks.

The concerns are fuelled by an escalating number of cyber attacks. In fact, 61% of CIOs report an increase in cyber security attacks/breaches from 2020-21 compared to the preceding two years. For digital transformation of networking, 70% of network engineers say security is the most important focus area, and 31% say network security is their biggest networking priority.

Digital transformation is a priority, but cyber security risk remains. CIOs also understand the importance of the issues. 51% of network engineers say their CIOs have consulted them on investments to deliver digital transformation plans, the highest priority in the survey.

What’s more, 41% of CIOs rank cyber security among their organisation’s most important investment priorities over the next year, with 35% stating it is among the biggest over the next five years. In both cases, cyber security ranks higher than any other factor.

https://www.helpnetsecurity.com/2022/05/31/digital-transformation-cybersecurity-risk/

  • Ransomware Gang Now Hacks Corporate Websites To Show Ransom Notes

A ransomware gang is taking extortion to a new level by publicly hacking corporate websites to publicly display ransom notes.

This new extortion strategy is being conducted by Industrial Spy, a data extortion gang that recently began using ransomware. As part of their attacks, Industrial Spy will breach networks, steal data, and deploy ransomware on devices. The threat actors then threaten to sell the stolen data on their Tor marketplace if a ransom is not paid.

When ransomware gangs extort a victim, they typically give them a short window, usually a few weeks, to negotiate and pay a ransom before they start leaking data.

During this negotiation process, the threat actors promise to keep the attack secret, provide a decryption key, and delete all data if a ransom is paid.

After this period, the threat actors will use various methods to increase pressure, including DDoS attacks on corporate websites, emailing customers and business partners, and calling executives with threats.

These tactics are all done privately or with minimal exposure on their data leak sites, which are usually only visited by cyber security researchers and the media.

However, this is the first time we have seen a ransomware gang defacing a website to very publicly display a ransom note.

https://www.bleepingcomputer.com/news/security/ransomware-gang-now-hacks-corporate-websites-to-show-ransom-notes/

  • Attackers Are Leveraging Follina, A Critical Microsoft Windows Vulnerability Affecting Nearly All Versions of Windows and Windows Server. What Can You Do?

As the world is waiting for Microsoft to push out a patch for CVE-2022-30190, aka “Follina”, attackers around the world are exploiting the vulnerability in a variety of campaigns.

Microsoft has described CVE-2022-30190 as a Microsoft Windows Support Diagnostic Tool (MSDT) remote code execution vulnerability, confirmed it affects an overwhelming majority of Windows and Windows Server versions, and advised on a workaround to be implemented until a patch is ready.

https://www.helpnetsecurity.com/2022/06/03/patch-cve-2022-30190/

  • Ransomware Attacks Need Less Than Four Days To Encrypt Systems

The duration of ransomware attacks in 2021 averaged 92.5 hours, measured from initial network access to payload deployment. In 2020, ransomware actors spent an average of 230 hours to complete their attacks and 1637.6 hours in 2019.

This change reflects a more streamlined approach that developed gradually over the years to make large-scale operations more profitable.

At the same time, improvements in incident response and threat detection have forced threat actors to move quicker, to leave defenders with a smaller reaction margin.

The data was collected by researchers at IBM's X-Force team from incidents analysed in 2021. They also noticed a closer collaboration between initial access brokers and ransomware operators.

Previously, network access brokers might wait for multiple days or even weeks before they found a buyer for their network access.

In addition, some ransomware gangs now have direct control over the initial infection vector, an example being Conti taking over the TrickBot malware operation.

Malware that breaches corporate networks is quickly leveraged to enable post-exploitation stages of the attack, sometimes completing its objectives in mere minutes.

https://www.bleepingcomputer.com/news/security/ransomware-attacks-need-less-than-four-days-to-encrypt-systems/

  • 57% Of All Digital Crimes In 2021Were Scams

Group-IB shares its analysis of the landscape of the most widespread cyber threat in the world: scams. Accounting for 57% of all financially motivated cyber crime, the scam industry is becoming more structured and involves more and more parties divided into hierarchical groups.

The number of such groups jumped to a record high of 390, which is 3.5 times more than last year, when the maximum number of active groups was close to 110. Due to SaaS (Scam-as-a-Service), in 2021 the number of cyber criminals in one scam gang increased 10 times compared to 2020 and now reaches 100.

Traffic has become the circulatory system of scam projects: researchers emphasise that the number of websites used for purchasing and providing “grey” and illegal traffic and that lure victims into fraudulent schemes has increased by 1.5 times. Scammers are going into 2022 on a new level of scam attack automation: no more non-targeted users. Scammers are now attracting specific groups of victims to increase conversion rates. Social media are more often becoming the first point of contact between scammers and their potential victims.

https://www.helpnetsecurity.com/2022/05/31/scams-widespread-cyber-threat/

  • Intelligence Is Key To Strategic Business Decisions

Businesses have a growing need for greater relevance in the intelligence they use to inform critical decision-making. Currently just 18% of professionals responsible for security, risk, or compliance in their organisation feel that the intelligence they receive is “very specific and focused on their business”, a S-RM research reveals.

6 in 10 respondents also say the intelligence they receive takes too much time to analyse, meaning it does not always result in better informed decision making. This was the top reason behind dissatisfaction with external intelligence, identified by over 200 professionals working at companies with revenues of over $250 million.

The second most likely reason was that information was not tailored to business needs (47%), followed by too much information (35%).

Growing demand for the use of strategic intelligence has been prompted by increasing cyber (51%) and regulatory concerns (50%). And while these two factors have been climbing the boardroom agenda for years, geopolitical uncertainty has made the need to respond to these developments more acute. In particular, the Russia-Ukraine conflict has created a complex sanctions regime for businesses to operate.

Additionally, navigating the complexities of the COVID-19 pandemic has been a key challenge for businesses in the past three years, with 40% citing this as a catalyst in driving a growing need for strategic intelligence.

https://www.helpnetsecurity.com/2022/06/03/intelligence-decision-making/

  • How Cyber Criminals Are Targeting Executives At Home And Their Families

Top executives and their families are increasingly being targeted on their personal devices and home networks, as sophisticated threat actors look for new ways to bypass corporate security and get direct access to highly sensitive data.

https://www.helpnetsecurity.com/2022/06/01/cybercriminals-targeting-executives-video/


Threats

Ransomware

BEC – Business Email Compromise

Phishing & Email Based Attacks

Other Social Engineering

Malware

Mobile

Organised Crime & Criminal Actors

Cryptocurrency/Cryptomining/Cryptojacking/NFTs

Fraud, Scams & Financial Crime

AML/CFT/Sanctions

Supply Chain and Third Parties

Denial of Service DoS/DDoS

Open Source

Privacy

Passwords & Credential Stuffing

Regulations, Fines and Legislation

Spyware, Espionage & Cyber Warfare, including Russian Invasion of Ukraine







As usual, contact us to help assess where your risks lie and to ensure you are doing all you can do to keep you and your business secure.

Look out for our ‘Cyber Tip Tuesday’ video blog and on our YouTube channel.

You can also follow us on Facebook, Twitter and LinkedIn.

Links to articles are for interest and awareness and linking to or reposting external content does not endorse any service or product, likewise we are not responsible for the security of external links.

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Black Arrow Cyber Threat Briefing 27 May 2022

Black Arrow Cyber Threat Briefing 27 May 2022

-How Confident Are Companies in Managing Their Current Threat Exposure?

-'There's No Ceiling': Ransomware's Alarming Growth Signals a New Era, Verizon DBIR Finds

-Paying Ransom Doesn’t Guarantee Data Recovery

-Report: Frequency of Cyber Attacks in 2022 Has Increased by Almost 3M

-New Zoom Flaws Could Let Attackers Hack Victims Just by Sending them a Message

-VMware, Airline Targeted as Ransomware Chaos Reigns

-Crypto Hacks Aren't a Niche Concern; They Impact Wider Society

-State of Cyber Security Report 2022 Names Ransomware and Nation-State Attacks as Biggest Threats

-Vishing (Voice Phishing) Cases Reach All Time High

-DeFi (Decentralised Finance) Is Getting Pummelled by Cyber Criminals

Welcome to this week’s Black Arrow Cyber Threat Briefing – a weekly digest, collated and curated by our cyber experts to provide senior and middle management with an easy to digest round up of the most notable threats, vulnerabilities, and cyber related news from the last week.

Top Cyber Stories of the Last Week

  • How Confident Are Companies In Managing Their Current Threat Exposure?

Crossword Cybersecurity has released a report based on the findings of a survey of over 200 CISOs and senior UK cyber security professionals. The paper reveals companies are more concerned and exposed to cyber threats than ever before, with 61 percent describing themselves as at best only “fairly confident” at managing their current cyber security threat exposure, which should raise some eyebrows around the boardroom.

Respondents also feared their cyber strategy would not keep pace with the rate of tech innovation and changes in the threat landscape. 40 percent of organisations believe their existing cyber strategy will be outdated in two years, and a further 37 percent within three years. Additional investment is needed to address longer term planning, with 44 percent saying they only have sufficient resources in their organisation to focus on the immediate and mid-term cyber threats and tech trends.

https://www.helpnetsecurity.com/2022/05/26/organizations-cyber-strategy/

  • 'There's No Ceiling': Ransomware's Alarming Growth Signals A New Era, Verizon DBIR Finds

Ransomware has become so efficient, and the underground economy so professional, that traditional monetisation of stolen data may be on its way out.

The past year has seen a staggering acceleration in ransomware incidents, with 25% of all breaches containing a ransomware component.

That's the top-line finding in the 2022 Verizon Data Breach Investigations Report (DBIR), which found that ransomware events in conjunction with breaches ballooned 13% in the past year — last year's report found that just 12% of incidents were ransomware-related. That translates into a rate of increase that's more than the previous five years of growth combined.

The 15th annual DBIR analysed 23,896 security incidents, of which 5,212 were confirmed breaches. About four in five of those were the handiwork of external cyber criminal gangs and threat groups, according to Verizon. And according to Alex Pinto, manager of the Verizon Security Research team, these nefarious types are finding it easier and easier to earn an ill-gotten living with ransomware, making other types of breaches increasingly obsolete.

"Everything in cyber crime has become so commoditised, so much like a business now, and it's just too darn efficient of a methodology for monetising their activity," he tells Dark Reading, noting that with the emergence of ransomware as-a-service (RaaS) and initial-access brokers, it takes very little skill or effort to get into the extortion game.

"Before, you had to get in somehow, look around, and find something worth stealing that would have a reseller on the other end," he explains. "In 2008 when we started the DBIR, it was by and large payment-card data that was stolen. Now, that has fallen precipitously because they can just pay for access someone else established and install rented ransomware, and it's so much simpler to reach the same goal of getting money."

https://www.darkreading.com/attacks-breaches/ransomware-alarming-growth-verizon-dbir

  • Paying Ransom Doesn’t Guarantee Data Recovery

A Veeam report has found that 72% of organisations had partial or complete attacks on their backup repositories, dramatically impacting the ability to recover data without paying the ransom.

Additionally, 76% of organisations admitted to paying the ransom. But while 52% paid the ransom and were able to recover data, 24% paid the ransom but were still not able to recover data.

https://www.helpnetsecurity.com/2022/05/24/paying-ransom-recover-data-video/

  • Report: Frequency Of Cyber Attacks in 2022 Has Increased By Almost 3M

Kaspersky has released a new report revealing a growing number of cyber attacks on small businesses in 2022 so far. Researchers compared the period between January and April 2022 to the same period in 2021, finding increases in the numbers of Trojan-PSW detections, internet attacks and attacks on Remote Desktop Protocol.

In 2022, the number of Trojan-PSW (Password Stealing Ware) detections increased globally by almost a quarter compared to the same period in 2021 一 4,003,323 to 3,029,903. Trojan-PSW is a malware that steals passwords, along with other account information, which then allows attackers to gain access to the company network and steal sensitive information.

Internet attacks grew from 32,500,000 globally in the analysed period of 2021 to almost 35,400,000 in 2022. These can include web pages with redirects to exploits, sites containing exploits and other malicious programs, botnet command & control centres and more.

The number of attacks on Remote Desktop Protocol grew in the U.S. (while dropping slightly globally), going from 47.5 million attacks in the first trimester of 2021 to 51 million in the same period of 2022. With the widespread shift toward remote work, many companies have introduced Remote Desktop Protocol (RDP), a technology that enables computers on the same corporate network to be linked together and accessed remotely, even when the employees are at home.

With small business owners typically handling numerous responsibilities at the same time, cyber security is often an afterthought. However, this disregard for IT security is being exploited by cyber criminals. The Kaspersky study sought to assess the threats that pose an increasing danger to entrepreneurs.

https://venturebeat.com/2022/05/20/report-frequency-of-cyberattacks-in-2022-has-increased-by-almost-3m/

  • New Zoom Flaws Could Let Attackers Hack Victims Just By Sending Them A Message

Popular video conferencing service Zoom has resolved as many as four security vulnerabilities, which could be exploited to compromise another user over chat by sending specially crafted Extensible Messaging and Presence Protocol (XMPP) messages and execute malicious code.

With Zoom's chat functionality built on top of the XMPP standard, successful exploitation of the issues could enable an attacker to force a vulnerable client to masquerade a Zoom user, connect to a malicious server, and even download a rogue update, resulting in arbitrary code execution stemming from a downgrade attack.

https://thehackernews.com/2022/05/new-zoom-flaws-could-let-attackers-hack.html

  • VMware, Airline Targeted As Ransomware Chaos Reigns

Global ransomware incidents target everything from enterprise servers to grounding an airline, with one India-based group even taking a Robin Hood approach to extortion with the "GoodWill" strain.

Ransomware incidents are on the rise and this week proved no exception, with the discovery of a Linux-based ransomware family called Cheerscrypt targeting VMware ESXi servers and an attack on SpiceJet, India’s second largest airline.

Meanwhile, an oddball "GoodWill" variant purports to help the needy.

The Cheerscrypt ransomware variant was uncovered by Trend Micro and relies on the double-extortion scheme to coerce victims to pay the ransom – i.e., stealing data as well and threatening to leak it if victims don’t pay up.

Because of the popularity of ESXi servers for creating and running multiple virtual machines (VMs) in enterprise settings, the Cheerscrypt ransomware could be appealing to malicious actors looking to rapidly distribute ransomware across many devices.

Meanwhile, low-cost carrier SpiceJet faced a ransomware attack this week, causing flight delays of between two and five hours as well as rendering unavailable online booking systems and customer service portals.

While the company’s IT team announced on Twitter that it had successfully prevented the attempted attack before it was able to fully breach all internal systems and take them over, customers and employees are still experiencing the ramifications.

https://www.darkreading.com/attacks-breaches/vmware-airline-targeted-as-ransomware-chaos-reigns

  • Crypto Hacks Aren't A Niche Concern; They Impact Wider Society

Million-dollar crypto heists are becoming more common as the currency starts to go mainstream; prevention and enforcement haven't kept pace.

The attack against the Ronin Network in March was quickly speculated to be one of the largest cryptocurrency hacks of all time. Approximately $540 million was stolen from the cryptocurrency and NFT games company in a combination of USDC and Etherium, with $400 million of the stolen funds owned by customers playing the game Axie Infinity.

This attack was the latest in a string of thefts perpetrated against crypto and should be a jolt to both the digital asset and cyber security communities to bring the security of cryptocurrencies into line.

The current vogue of large-scale crypto heists goes as far back as the 2014 Mt. Gox hack (another cryptocurrency exchange built around a game, Magic: The Gathering), which went into bankruptcy after losing $460 million of assets.

However, the trend has been gathering pace. In the months leading up to the Ronin Network attack, cyber criminals stole nearly $200 million worth of cryptocurrency from the crypto trading platform BitMart, attacked 400 Crypto.com users, and orchestrated NFT-related scams, to name but a few incidents.

There is often an uncomfortable tendency to see these attacks as something that takes place in isolation in a remote part of the Internet when they actually have a huge impact on thousands of people.

https://www.darkreading.com/attacks-breaches/crypto-hacks-aren-t-a-niche-concern-they-impact-wider-society

  • State Of Cyber Security Report 2022 Names Ransomware And Nation-State Attacks As Biggest Threats

Ransomware is the biggest concern for cyber security professionals, according to results of the Infosecurity Group’s 2022 State of Cybersecurity Report, produced by Infosecurity Europe and Infosecurity Magazine.

Cyber Security Professionals' Number One Concern: Ransomware.

This attack vector was voted as the biggest cyber security trend (28%) by the survey respondents (including CISOs, CTOs, CIOs and academics), marking a significant change from the previous report in 2020, where ransomware did not break the top three. This follows surging ransomware incidents in 2021, with ransom demands and payments growing significantly last year. A number of these attacks have also impacted critical industries, for example, taking down the US’ largest fuel pipeline.

The survey respondents also highlighted the evolving tactics and capabilities of ransomware attackers. This includes threat actors becoming more sophisticated as they evolve into loosely coupled service-based operations.

A number of cyber security professionals believe that cyber-criminal groups will become more guarded in their approach due to new initiatives by governments and law enforcement to tackle these activities.

Cyber Security Professionals' Number Two Concern: Nation-State Attacks.

The second biggest concern for survey respondents was geopolitics/nation-state attacks (24%), particularly the shifting hostilities from the Russia-Ukraine conflict into cyberspace. Russia already had a reputation for conducting offensive cyber operations prior to the conflict, and the Ukrainian government and critical services have experienced numerous attacks both before and since the war began.

https://www.infosecurity-magazine.com/news/2022-state-industry-report/

  • Vishing (Voice Phishing) Cases Reach All Time High

Vishing (voice phishing) cases have increased almost 550 percent over the last twelve months (Q1 2021 to Q1 2022), according to the latest Quarterly Threat Trends & Intelligence Report from Agari and PhishLabs.

In Q1 2022, Agari and PhishLabs detected and mitigated hundreds of thousands of phishing, social media, email, and dark web threats targeting a broad range of enterprises and brands. The report provides an analysis of the latest findings and insights into key trends shaping the threat landscape.

According to the findings, vishing attacks have overtaken business email compromise (BEC) as the second most reported response-based email threat since Q3 2021. By the end of the year, more than one in four of every reported response-based threat was a vishing attack, and this makeup continued through Q1 2022.

https://www.helpnetsecurity.com/2022/05/24/vishing-cases-increased/

  • DeFi (Decentralised Finance) Is Getting Pummelled By Cyber Criminals

Decentralised finance lost $1.8 billion to cyber attacks last year — and 80% of those events were the result of vulnerable code, analysts say.

Decentralised finance (DeFi) platforms — which connect various cryptocurrency blockchains to create a decentralised infrastructure for borrowing, trading, and other transactions — promise to replace banks as a secure and convenient way to invest in and spend cryptocurrency. But in addition to attracting hordes of new users with dreams of digital fortune, cyber criminals have discovered them to be an easy target, wiping out wallets to zero balances in a moment, tanking whole markets while profiting, and more, according to a new report.

Analysts with Bishop Fox found that DeFi platforms lost $1.8 billion to cyber attacks in 2021 alone. With a total of 65 events observed, 90% of the losses came from unsophisticated attacks, according to the report, which points to the lax cyber security practices of the sector.

DeFi averaged five attacks per week last year, with most of them (51%) coming from the exploitation of "smart contracts" bugs, the analysts found. Smart contracts are essentially records of transactions, stored on the blockchain.

Other top DeFi attack vectors include cryptowallets, protocol design flaws, and so-called "rug-pull" scams (where investors are lured to a new cryptocurrency project that is then abandoned, leaving targets with a worthless currency). But taken together, 80% of all events were caused by the use (and re-use) of buggy code, according to the report.

https://www.darkreading.com/attacks-breaches/defi-pummeled-by-cybercriminals


Threats

Ransomware

BEC – Business Email Compromise

Phishing & Email Based Attacks

Other Social Engineering

Malware

Mobile

BYOD

Data Breaches/Leaks

Organised Crime & Criminal Actors

Cryptocurrency/Cryptomining/Cryptojacking/NFTs

Insider Risk and Insider Threats

Dark Web

Supply Chain and Third Parties

Denial of Service DoS/DDoS

Cloud/SaaS

Attack Surface Management

Open Source

Privacy

Passwords & Credential Stuffing

Regulations, Fines and Legislation

Spyware, Espionage & Cyber Warfare, including Russian Invasion of Ukraine







As usual, contact us to help assess where your risks lie and to ensure you are doing all you can do to keep you and your business secure.

Look out for our ‘Cyber Tip Tuesday’ video blog and on our YouTube channel.

You can also follow us on Facebook, Twitter and LinkedIn.

Links to articles are for interest and awareness and linking to or reposting external content does not endorse any service or product, likewise we are not responsible for the security of external links.

Read More
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Black Arrow Cyber Advisory 27/05/2022 – Multiple Zyxel Vulnerabilities identified for Firewalls and Access Points

Black Arrow Cyber Advisory – Multiple Zyxel Vulnerabilities identified for Firewalls and Access Points

Executive Summary

Several vulnerabilities have been disclosed within Zyxel products, affecting firewalls, access point controllers and access points produced by the company. Most of these vulnerabilities require a locally authenticated user, and therefore could be used for further attacks if a local user account is compromised.

Executive Summary

Executive Summary

A critical flaw has been discovered within Zyxel Firewall products, allowing for a malicious user to bypass the Authentication requirement on the device, enabling unauthorised privileged access. The bug impacts several Zyxel Firewall Network Access Control (NAC) systems as detailed within the technical summary. The bug, achieves a 9.8 on the Common Vulnerability Scoring System (CVSS).

What’s the risk to my business?

Due to the severity of the bug, and the ability for attackers to gain unauthorised privileged access to critical perimeter defence, the risk to businesses operating affected Zyxel Firewalls is high.

What can I do?

The bug has been reported, and a patch has been issued. Businesses operating these devices are urged to implement as soon as possible.

Technical Summary

Zyxel have issued a patch for bug CVE-2022-0342, which was disclosed on 03/28/2022. Zyxel’s investigation has only been focused on devices within their warranty and support period. The following Zyxel products are confirmed to be affected, with the appropriate patches listed:

·       USG/ZyWALL, running version ZLD V4.20 to ZLD V4.70 | Fixed in Patch ZLD V4.71

·       USG FLEX, running version ZLD V4.50 to ZLD V5.20 | Fixed in Patch ZLD V5.21 Patch 1

·       ATP, running version ZLD V4.32 to ZLD V5.20 | Fixed in Patch ZLD V5.21 Patch 1

·       VPN, running version ZLD V4.30 to ZLD V5.20 | Fixed in Patch ZLD V5.21

·       NSG, running version V1.20 to V1.33 Patch 4 | Fixed in Hotfix V1.33p4_WK11, available from vendor. Fix will be included in standard patch V1.33 Patch 5 when released in May 2022.

Need help understanding your gaps, or just want some advice? Get in touch with us.

#threatadvisory #threatintelligence #cybersecurity

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Black Arrow Cyber Advisory 27/05/2022 – Trend Micro identified a new Ransomware strain specifically targeting VMware servers

Black Arrow Cyber Advisory 27/05/2022 – Trend Micro identified a new Ransomware strain specifically targeting VMware servers

Executive Summary

Ransomware specifically designed to target VMware systems has been found to be in use by malicious attackers. VMware systems have been a prime target for attackers, as many different services which organisations rely on run on these systems. By compromising these systems, all of the hosted services can also be impacted.

Executive Summary

Ransomware specifically designed to target VMware systems has been found to be in use by malicious attackers. VMware systems have been a prime target for attackers, as many different services which organisations rely on run on these systems. By compromising these systems, all of the hosted services can also be impacted.

What’s the risk to me or my business?

This attack works by shutting down virtual machines running on a VMware system, and encrypting them before demanding a ransom. If the ransom is not paid within three days, then there is a further threat to release the data which the attacker has exfiltrated. This requires an attacker to be able to gain prior access to the system, and to enable ‘Shell’ access to run the malicious script.

What can I do?

Ensure that appropriate security measures are applied to these critical systems, to prevent an attacker from being able to access them. This includes up to date patching of the systems, and appropriate network segregation to prevent end user devices from being able to access the systems. Ensure that Shell access to the server is not left enabled.

The adoption of a security framework such as NIST CSF would greatly assist with applying appropriate controls to prevent this type of attack.

Technical Summary

Trend Micro has conducted the research into this specific strain of ransomware. This strain works by accessing VMware Servers using Secure Shell (SSH), and running a script which shuts down all active virtual machines in order to encrypt them, with the file extension ‘.cheers’. It is worth noting that the renaming of the files happens before the encryption starts, so it is possible that a file is renamed but is in fact not encrypted due to a permissions issue on the account logged in via SSH.

A full break down of the attack can be read here: New Linux-Based Ransomware Cheerscrypt Targets ESXi Devices (trendmicro.com)

Need help understanding your gaps, or just want some advice? Get in touch with us.

#threatadvisory #threatintelligence #cybersecurity

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Black Arrow Cyber Advisory 26/05/2022 – Check the security of IoT Devices, Increase in Linux Botnet Malware

Black Arrow Cyber Advisory 26/05/2022 – Check the security of IoT Devices, Increase in Linux Botnet Malware.

Executive Summary

Microsoft has detected a significant increase in malware targeted at Linux systems to create botnets which can be used for distributed denial-of-service (DDOS) and other types of attack. Internet-of-Things (IoT) or Smart Devices often use a Linux operating system to run their service. These are often not patched regularly, if at all, making them a target for this type of attack. Cloud service providers also often use Linux based operating systems.

Executive Summary

Microsoft has detected a significant increase in malware targeted at Linux systems to create botnets which can be used for distributed denial-of-service (DDOS) and other types of attack. Internet-of-Things (IoT) or Smart Devices often use a Linux operating system to run their service. These are often not patched regularly, if at all, making them a target for this type of attack. Cloud service providers also often use Linux based operating systems.

What’s the risk to me or my business?

While IoT/Smart Devices are normally associated with home use, there has been an increase of their usage in business locations. As these devices are often not as well supported by the manufacturer for security updates, and use internet connectivity for function, they are a prime target for attackers. Once a device has been compromised and added to a botnet, it could be used to bring targeted services down via a DDOS attack or could be used to compromise other devices through brute force attacks.

What can I do?

It is important to keep all devices and systems used updated to patch vulnerabilities which enable the attacks described above to take place. It is also important to have Anti-Virus and endpoint management enabled on these devices where supported. IoT/Smart Devices pose their own challenge with this, as it is often not immediately clear who is responsible for updating the device (the vendor or user), and if security updates will be provided by the vendor. It is also not always possible for services such as Anti-Virus and endpoint management to be installed on these devices.

The following list are good practice points for mitigating the risk that IoT/Smart devices pose:

1.       Separation: Ensure that IoT/Smart devices do not sit on the same network as corporate devices. This layer of separation may be logical using network technologies such as VLANs with access control lists, or physical separation with different network infrastructure for the devices. This will help to prevent a compromised device from being used to gain access to corporate systems.

2.       Inventory: Take inventory and track what IoT/Smart devices are in use, with justification on their function. It is important to keep track of support information for these devices to establish if updates are still being published by the manufacturer, and when it is a good time to replace the devices if updates are no longer supported.

3.       Updates: While most IoT/Smart devices will automatically update when an update is published by the vendor, this is not always the case. It is important to check how frequently updates are applied to the devices, and if this is something which needs to be done manually by the device administrator. At end of manufacturer support for updates, it is important to consider replacing the device.

4.       Monitoring: It is important to monitor the activity of a IoT device, to establish a baseline on expected connectivity for the service it provides. This can then be used to provide alerts for anomalous activity outside of this baseline as an indicator of compromise, making it quick to lock down and remove a device from the network.

5.       Physical Protection: Take steps to physically protect the IoT device from tampering. These devices may contain USB ports designed for delivering updates or debugging errors, but these ports could also potentially be used to install malware.

6.       Account Protection: Ensure that the accounts used to access and administer the devices are appropriately secured, following the relevant corporate Identity and Access Management policies and Password policies. These accounts often allow access to the device via the internet, which if compromised could be a potential route into the network bypassing boundary perimeters.

Technical Summary

The specific attack identified by Microsoft is a Linux Trojan named XorDdos. This is not new malware and was originally discovered in 2014. Research shows that once compromised, these devices are often infected with additional malware used for different purposes.

Further technical details can be found here: Rise in XorDdos: A deeper look at the stealthy DDoS malware targeting Linux devices - Microsoft Security Blog. Further information on IoT best practices can be found here: Internet of Things (IoT) security best practices | Microsoft Docs, Code of Practice for consumer IoT security - GOV.UK (www.gov.uk), Ten best practices for securing the Internet of Things in your organization | ZDNet

Need help understanding your gaps, or just want some advice? Get in touch with us.

#threatadvisory #threatintelligence #cybersecurity

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Black Arrow Cyber Threat Briefing 20 May 2022

Black Arrow Cyber Threat Briefing 20 May 2022

-Fifth of Businesses Say Cyber Attack Nearly Broke Them

-Weak Security Controls and Practices Routinely Exploited for Initial Access

-How Do Ransomware Attacks Impact Victim Organisations’ Stock?

-Prioritise Patching Vulnerabilities Associated with Ransomware

-Researchers Warn of Advanced Persistent Threats/Nation State Actors (APTs), Data Leaks as Serious Threats Against UK Financial Sector

-Remote Work Hazards: Attackers Exploit Weak WiFi, Endpoints, and the Cloud

-Small Businesses Under Fire from Password Stealers

-Email Is the Riskiest Channel for Data Security

-Phishing Attacks for Initial Access Surged 54% in Q1

-State of Internet Crime in Q1 2022: Bot Traffic on The Rise, And More

-Fears Grow for Smaller Nations After Ransomware Attack on Costa Rica Escalates

Welcome to this week’s Black Arrow Cyber Threat Briefing – a weekly digest, collated and curated by our cyber experts to provide senior and middle management with an easy to digest round up of the most notable threats, vulnerabilities, and cyber related news from the last week.

Top Cyber Stories of the Last Week

  • Fifth of Businesses Say Cyber Attack Nearly Broke Them

A fifth of US and European businesses have warned that a serious cyber attack nearly rendered them insolvent, with most (87%) viewing compromise as a bigger threat than an economic downturn, according to Hiscox.

The insurer polled over 5000 businesses in the US, UK, Ireland, France, Spain, Germany, the Netherlands and Belgium to compile its annual Hiscox Cyber Readiness Report.

It revealed the potentially catastrophic financial damage that a serious cyber-attack can wreak. The number claiming to have nearly been brought down by a breach increased 24% compared to the previous year.

Nearly half (48%) of respondents said they suffered an attack over the past 12 months, a 12% increase from the previous report’s findings. Perhaps unsurprisingly, businesses in seven out of eight countries see cyber as their biggest threat.

Yet perception appears to vary greatly depending on whether an organisation has suffered a serious compromise or not. While over half (55%) of total respondents said they view cyber as a high-risk area, the figure among companies that have not yet suffered an attack is just 36%.

https://www.infosecurity-magazine.com/news/fifth-of-businesses-cyber-attack/

  • Weak Security Controls and Practices Routinely Exploited for Initial Access

Cyber actors routinely exploit poor security configurations (either misconfigured or left unsecured), weak controls, and other poor cyber hygiene practices to gain initial access or as part of other tactics to compromise a victim’s system. A joint Cybersecurity Advisory by the cyber security authorities of the United States, Canada, New Zealand, the Netherlands, and the United Kingdom identifies commonly exploited controls and practices and includes best practices to mitigate the issues.

Malicious cyber actors often exploit the following common weak security controls, poor configurations, and poor security practices to employ the initial access techniques.

  • Multifactor authentication (MFA) is not enforced

  • Incorrectly applied privileges or permissions and errors within access control lists

  • Software is not up to date

  • Use of vendor-supplied default configurations or default login usernames and passwords

  • Remote services, such as a virtual private network (VPN), lack sufficient controls to prevent unauthorised access

  • Strong password policies are not implemented

  • Cloud services are unprotected

  • Open ports and misconfigured services are exposed to the internet

  • Failure to detect or block phishing attempts

  • Poor endpoint detection and response.

https://www.cisa.gov/uscert/ncas/alerts/aa22-137a

  • How Do Ransomware Attacks Impact Victim Organisations’ Stock?

Ransomware has developed into an extremely lucrative business model with little risk involved for the threat actors. Couple this with the willingness of most victim organisations to pay the ransom demand under the assumption it will return business operations to normal - ultimately encouraging more attacks - and we have a big problem with no easy remedies.

Back in 2021, Cybereason published a report titled Ransomware Attacks and the True Cost to Business that revealed the various costs that organisations face after falling victim to a ransomware attack. Here are some of the most significant findings that stood out:

  • Two-thirds of ransomware victims said that they endured a significant loss of revenue following the attack

  • More than half (53%) of organisations suffered damage to their brand and reputation after a ransomware infection

  • A third of those who fell to ransomware lost C-level talent in the attack’s aftermath

  • Three in 10 organisations had no choice but to lay off employees due to the financial pressures resulting from a ransomware incident

  • A quarter of ransomware victims said that they needed to suspend operations.

https://www.msspalert.com/cybersecurity-guests/how-do-ransomware-attacks-impact-victim-organizations-stock/

  • Prioritise Patching Vulnerabilities Associated with Ransomware

In the last quarter, ransomware attacks have made mainstream headlines on a near-daily basis, with groups like Lapsus$ and Conti’s names splashed across the page. Major organisations like Okta, Globant and Kitchenware maker Meyer Corporation have all fallen victim, and they are very much not alone. The data indicates that increasing vulnerabilities, new advanced persistent threat (APT) groups and new ransomware families are contributing to ransomware’s continued prevalence and profitability.

The top stats include:

  • 22 new vulnerabilities and nine new weaknesses have been associated with ransomware since January 2022; of the 22, a whopping 21 are considered of critical or high risk severity

  • 19 (out of 22) of the newly-added vulnerabilities are associated with the Conti ransomware gang

  • Three new APT groups (Exotic Lily, APT 35, DEV-0401) and four new ransomware families (AvosLocker, Karma, BlackCat, Night Sky) are deploying ransomware to attack their targets

  • 141 of CISA’s Known Exploited Vulnerabilities (KEVs) are being used by ransomware operators – including 18 newly identified this quarter

  • 11 vulnerabilities tied to ransomware remain undetected by popular scanners

  • 624 unique vulnerabilities were found within the 846 healthcare products analysed.

https://www.helpnetsecurity.com/2022/05/19/increase-ransomware-vulnerabilities/

  • Researchers Warn of Advanced Persistent Threats (APTs), Data Leaks as Serious Threats Against UK Financial Sector

Researchers say that geopolitical tension, ransomware, and cyber attacks using stolen credentials threaten the UK's financial sector.

KELA's security team published a report examining the cyber security issues and attacks that surfaced in 2021 and early 2022, specifically focused on the United Kingdom's banks and other financial services.

The UK was one of the first countries to stand with Ukraine after the invasion by Russia. This could make UK organisations a tempting target for threat actors siding with Russia - whether by state-sponsored advanced persistent threat (APT) groups or hacktivists. The National Cyber Security Centre (NCSC) previously warned businesses to shore up their cyber security following Russia's assault.

APTs are often responsible for attacking the financial sector: account credentials, card numbers, and the personally identifiable information (PII) of customers are useful not only in social engineering and identity theft but also to make fraudulent purchases or for card cloning.

APTs target organisations worldwide, and those located in the UK are no exception. Over the past few years, APTs, including the Chinese APT40 and APT31, have utilised vulnerabilities, including ProxyLogon, to compromise UK businesses.

"In general, APTs may target the financial sector to commit fraud, burglarise ATMs, execute transactions, and penetrate organisations' internal financial systems," KELA says. "Although specific threats to the UK financial sector have not been identified, there is no doubt that the UK has occasionally been a target of APT groups during 2021."

Exposed corporate information and leaked credentials are also of note. After browsing Dark Web forums, the researchers found that UK data is "in demand" by cyber criminals who are seeking PII, access credentials, and internal data.

https://www.zdnet.com/article/researchers-warn-of-apts-data-leaks-as-serious-threats-against-uk-financial-sector/

  • Remote Work Hazards: Attackers Exploit Weak WiFi, Endpoints, and the Cloud

Infoblox unveils a global report examining the state of security concerns, costs, and remedies. As the pandemic and uneven shutdowns stretch into a third year, organisations are accelerating digital transformation projects to support remote work. Meanwhile, attackers have seized on vulnerabilities in these environments, creating more work and larger budgets for security teams.

1,100 respondents in IT and cyber security roles in 11 countries – United States, Mexico, Brazil, United Kingdom, Germany, France, the Netherlands, Spain, United Arab Emirates, Australia, and Singapore – participated in the survey.

The surge in remote work has changed the corporate landscape significantly – and permanently. 52% of respondents accelerated digital transformation projects, 42% increased customer portal support for remote engagement, 30% moved apps to third party cloud providers, and 26% shuttered physical offices for good. These changes led to the additions of VPNs and firewalls, a mix of corporate and employee owned devices as well as cloud and on-premises DDI servers to manage data traffic across the expanded network.

The hybrid workforce reality is causing greater concerns with data leakage, ransomware and attacks through remote access tools and cloud services. Respondents indicate concerns about their abilities to counter increasingly sophisticated cyber attacks with limited control over employees, work-from-home technologies, and vulnerable supply chain partners. The sophistication of state-sponsored malware also is a source of worry for many.

Organisations have good reason to worry: 53% of respondents experienced up to five security incidents that led to at least one breach.

https://www.helpnetsecurity.com/2022/05/17/state-of-security/

  • Small Businesses Under Fire from Password Stealers

Password-stealing malware and other cyber attacks have increased significantly against small businesses over the past year, according to Kaspersky researchers.

An assessment released this week detailed the number of Trojan Password Stealing Ware (PSW) detections, internet attacks and attacks on Remote Desktop Protocol (RDP) between January and April 2022, compared with the same time frame from 2021. Kaspersky's research showed a jump in the detection of password stealers within small business environments, as well as increases in other types of cyber attacks.

According to Kaspersky, the biggest increase in threats against small businesses was password stealers, specifically Trojan PSWs. There were nearly 1 million more detected Trojan PSWs targeting small and medium-sized businesses in the first trimester of 2022 than the first of 2021, increasing from 3,029,903 to 4,003,323.

https://www.techtarget.com/searchsecurity/news/252518442/Small-businesses-under-fire-from-password-stealers

  • Email Is the Riskiest Channel for Data Security

Research from Tessian and the Ponemon Institute reveals that nearly 60% of organisations experienced data loss or exfiltration caused by an employee mistake on email in the last 12 months.

Email was revealed as the riskiest channel for data loss in organisations, as stated by 65% of IT security practitioners. This was closely followed by cloud file-sharing services (62%) and instant messaging platforms (57%).

The research surveyed 614 IT security practitioners across the globe to also reveal that:

  • Employee negligence, because of not following policies, is the leading cause of data loss incidents (40%)

  • 27% of data loss incidents are caused by malicious insiders

  • It takes up to three days for security and risk management teams to detect and remediate a data loss and exfiltration incident caused by a malicious insider on email

  • 23% of organisations experience up to 30 security incidents involving employees’ use of email every month (for example, email was sent to an unintended recipient).

The most common types of confidential and sensitive information lost or intentionally stolen include: customer information (61%); intellectual property (56%); and consumer information (47%). User-created data (sensitive email content, text files, M&A documents), regulated data (credit card data, Social Security numbers, national ID numbers, employee data), and intellectual property were identified as the three types of data that are most difficult to protect from data loss.

The top two consequences for data loss incidents were revealed as non-compliance with data protection regulations (57%) and damage to an organisation’s reputation (52%). Furthermore, a previous study from Tessian found that 29% of businesses lost a client or customer because of an employee sending an email to the wrong person.

https://www.helpnetsecurity.com/2022/05/20/data-loss-email/

  • Phishing Attacks for Initial Access Surged 54% in Q1

Threat actors doubled down on their use of phishing emails as an initial attack vector during the first quarter of 2022 — and in many cases then used that access to drop ransomware or to extort organisations in other ways.

Researchers from Kroll recently analysed data gathered from security incidents they responded to in the first three months of this year. The analysis showed a 54% increase in incidents of phishing for initial access compared with the same period last year.

For the first time since Microsoft disclosed the so-called ProxyLogon set of vulnerabilities in Exchange Server in the first quarter of 2021, incidents tied to email compromises surpassed those related to ransomware. Kroll described the sharp increase in phishing activity as likely the result of a surge in activity tied to Emotet and IceID malware — threat actors have been using both to drop other malware.

https://www.darkreading.com/risk/phishing-attacks-for-initial-access-surged-q1

  • Fears Grow for Smaller Nations After Ransomware Attack on Costa Rica Escalates

Conti demanded $20M in ransom — and the overthrow of the government.

It’s been a rough start for the newly elected Costa Rica president Rodrigo Chaves, who less than a week into office declared his country “at war” with the Conti ransomware gang.

“We’re at war and this is not an exaggeration,” Chaves told local media. “The war is against an international terrorist group, which apparently has operatives in Costa Rica. There are very clear indications that people inside the country are collaborating with Conti.”

Conti’s assault on the Costa Rican government began in April. The country’s Finance Ministry was the first hit by the Russia-linked hacking group, and in a statement on May 16, Chaves said the number of institutions impacted had since grown to 27. This, he admitted, means civil servants wouldn’t be paid on time and will impact the country’s foreign trade.

In a message posted to its dark web leaks blog, Conti urged the citizens of Costa Rica to pressure their government to pay the ransom, which the group doubled from an initial $10 million to $20 million. In a separate statement, the group warned: “We are determined to overthrow the government by means of a cyber attack, we have already shown you all the strength and power.”

Conti is among the most prolific hacking groups. The FBI warned earlier this year that the gang was among “the three top variants” that targeted businesses in the United States, and it has been blamed for ransomware attacks targeting dozens of businesses, including Fat Face, Shutterfly and the Irish healthcare service.

But Conti has picked up its pace in recent months: In January and February it published 31 victims on its leaks blog. In March and April, it posted 133 victims.

https://techcrunch.com/2022/05/20/costa-rica-ransomware-attack/


Threats

Ransomware

Phishing & Email Based Attacks

Malware

Mobile

IoT

Data Breaches/Leaks

Organised Crime & Criminal Actors

Cryptocurrency/Cryptomining/Cryptojacking/NFTs

Fraud, Scams & Financial Crime

Supply Chain and Third Parties

Cloud/SaaS

Open Source

Privacy

Passwords & Credential Stuffing

Cyber Bullying and Cyber Stalking

Regulations, Fines and Legislation

Spyware, Espionage & Cyber Warfare, including Russian Invasion of Ukraine




Vulnerabilities





As usual, contact us to help assess where your risks lie and to ensure you are doing all you can do to keep you and your business secure.

Look out for our ‘Cyber Tip Tuesday’ video blog and on our YouTube channel.

You can also follow us on Facebook, Twitter and LinkedIn.

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Black Arrow Cyber Advisory 19/05/2022 – VMware provides patches for critical vulnerabilities in multiple product lines. CISA advise to disconnect systems if they cannot be patched

Black Arrow Cyber Advisory 19/05/2022 – VMware provides patches for critical vulnerabilities in multiple product lines. CISA advise to disconnect systems if they cannot be patched.

Executive Summary

VMware is a large supplier of virtualisation products which are used to run a variety of different services. They announced on 18/05/2022 that updates have been released for multiple products in their range to address two different vulnerabilities. The United States Cybersecurity and Infrastructure Security Agency (CISA) are advising US Civilian Government agencies to patch affected products, or disconnect those that cannot be patched by 5PM EDT on 23/05/2022.

What’s the risk to me or my business?

As VMware are one of the primary suppliers of virtual infrastructure, it is highly likely that some business services will be hosted on machines running VMware software. One of the vulnerabilities would allow an attacker with network access to the user interface of an affected product to obtain administrative access without the need to authenticate. As business services may be hosted on VMware infrastructure, this could impact Confidentiality, Integrity, or Availability for these services.

What can I do?

As patches have been released, it is important that these are applied as soon as possible, particularly as some of the vulnerabilities are now being actively exploited.

Discuss with you Managed Service Provider (MSP) whether any of your devices or services are impacted, and when they can expect to be patched. While VMware has supplied workaround to help mitigate the issue if it cannot be immediately patched, it is strongly noted that the work arounds do not remove the vulnerabilities and may introduce additional unforeseen issues.

Technical Summary

The following is a break down of the different vulnerabilities with the affected VMware products.

CVE-2022-22972: Critical severity range with maximum CVSSv3 base score of 9.8, malicious actor with network access to the UI may be able to obtain administrative access without the need to authenticate. Affected VMware products:

·         VMware Workspace One Access

·         Identity Manager

·         vRealize Automation

CVE-2022-22973: Important severity range with maximum CVSSv3 base core of 7,8, malicious actor with local access to the system can escalate privileges to ‘root’.

·         VMware Workspace ONE Access and Identity Manager

The following VMware products deploy the above affected components.

  • VMware Cloud Foundation

  • vRealize Suite Lifecycle Manager

Further technical information including a response patch matrix and workarounds can be found here: VMSA-2022-0014 (vmware.com), VMSA-2022-0014: Questions & Answers | VMware

Need help understanding your gaps, or just want some advice? Get in touch with us.

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Black Arrow Cyber Threat Briefing 13 May 2022

Black Arrow Cyber Threat Briefing 13 May 2022

-UK, US Intelligence Agencies Warn Managed Service Providers, including External IT Providers, Are Now Prime Targets for Cyber Attacks

-Wannacry – 5 Years On, 68% Of Enterprises Are Still At Risk

-You Can’t Eliminate Cyber Attacks, So Focus on Reducing the Blast Radius

-Just In Time? Bosses Are Finally Waking Up to The Cyber Security Threat

-Most Organisations Hit by Ransomware Would Pay Up If Hit Again

-31,000 FTSE 100 Logins Found on Dark Web

-Ransomware: How Executives Should Prepare Given the Current Threat Landscape

-What Your Cyber Insurance Application Form Can Tell You About Ransomware Readiness

-NCSC Shut Down 2.7 Million Scams in 2021

-Top 6 Security Threats Targeting Remote Workers

-Password Reuse Is Rampant Among Employees in All Sectors

Welcome to this week’s Black Arrow Cyber Threat Briefing – a weekly digest, collated and curated by our cyber experts to provide senior and middle management with an easy to digest round up of the most notable threats, vulnerabilities, and cyber related news from the last week.

Top Cyber Stories of the Last Week

  • UK, US Intelligence Agencies Warn Managed Service Providers, including External IT Providers, Are Now Prime Targets for Cyber Attacks

The Five Eyes coalition of international cyber security authorities, this week issued an advisory to warn managed service providers (MSPs), including external IT providers, of an escalating threat of attack from both everyday cyber criminals and state-sponsored threat actors.

MSPs provide or operate information and communications technology services.

With input from cyber security leaders from Australia, Canada, New Zealand, the UK and the US, the NSA provided recommendations to help bolster their cyber defences, including:

  • Finding and disabling dormant accounts.

  • Implementing and enforcing multifactor authentication on accounts.

  • Ensuring contracts clearly map out who owns and is responsible for securing data.

Malicious actors are targeting MSPs to break into their customers' networks and deploy ransomware, steal data, and spy on them, the Five Eyes authorities have formally warned in a joint security alert.

"The UK, Australian, Canadian, New Zealand, and US cyber security authorities expect malicious cyber actors — including state-sponsored advanced persistent threat (APT) groups — to step up their targeting of MSPs in their efforts to exploit provider-customer network trust relationships," the alert warned.

These types of supply-chain or "island-hopping" attacks can prove very lucrative for cyber criminals because once they break into an MSP, they gain access to all of the customers' networks and data being managed, and in turn commit computer crimes and fraud against those customers' customers.

https://www.darkreading.com/attacks-breaches/nsa-warns-managed-service-providers-are-now-prime-targets-for-cyberattacks

  • Wannacry – 5 Years On, 68% Of Enterprises Are Still at Risk

5 years on from one of the world’s most damaging ransomware attacks, research from network detection and response leader ExtraHop has found that 68% of enterprises are still running insecure protocol that were exploited by the North Korean ransomware.

The events of 12 May 2017 live on in cyber security lore. WannaCry revealed just how extensive the damage caused by ransomware can be if deployed in large scale – from downtime to ransom paid to reputational damage. Yet despite the danger, huge numbers of organisations are still running SMBv1, the protocol exploited in the WannaCry attacks that has been publicly deprecated since 2014.

https://informationsecuritybuzz.com/expert-comments/wannacry-5-years-on-68-of-enterprises-are-still-at-risk/

  • You Can’t Eliminate Cyber Attacks, So Focus on Reducing the Blast Radius

Given it is impossible to prevent all cyber attacks, many organisations should look to reduce the size of the company’s attack surface and the limit the “blast radius” of a potential attack.

There is a danger that the biggest risk concerning cyber attacks is that we’re becoming desensitised to them. After all, businesses experience a ransomware attack every 11 seconds—the majority of which the public never hears about. Faced with this reality, it may seem like efforts to safeguard the enterprise are futile. But that’s all the more reason to strengthen your resolve—and switch up your cyber defence strategy.

The core of this strategy should be the concept of “reducing the blast radius” of an attack, and since you can’t completely eliminate cyber attacks, you need to take steps to contain the impact.

This strategy should contain basic blocking and also consider things such as Zero Trust for remote access, traffic inspection, software-based micro-segmentation and other practical measures to reduce your attack surface.

https://threatpost.com/cyberattacks-blast-radius/179612/

  • Just In Time? Bosses Are Finally Waking Up to The Cyber Security Threat

Boardrooms have a reputation for not paying much attention to cyber security, but it could be that executives are finally keen to take more interest in securing the systems and networks their businesses rely on.

Senior figures from American, British and Australian cyber security agencies have said that business execs are now more aware of cyber threats and are actively engaging with their chief information security officer (CISO) and information security teams.

Chief execs are starting to ask their CISOs the right questions, rather than leaving them to it because they don't have to understand complex technology. It does feel like a much more engaging strategic conversation, but there can still be a disconnect between knowing what needs to happen, then actually budgeting for and implementing a cyber security strategy.

https://www.zdnet.com/article/just-in-time-bosses-are-finally-waking-up-to-the-cybersecurity-threat/

  • Most Organisations Hit by Ransomware Would Pay Up If Hit Again

Almost nine in 10 organisations that have suffered a ransomware attack would choose to pay the ransom if hit again, according to a new report, compared with two-thirds of those that have not experienced an attack.

The findings come from a report titled "How business executives perceive ransomware threat" by security company Kaspersky, which states that ransomware has become an ever-present threat, with 64 percent of companies surveyed already having suffered an attack, but more worryingly, that executives seem to believe that paying the ransom is a reliable way of addressing the issue.

The report is based on research involving 900 respondents across North America, South America, Africa, Russia, Europe, and Asia-Pacific. The respondents were in senior non-IT management roles at companies between 50 and 1,000 employees.

Kaspersky claims that in 88 percent of organisations that have had to deal with a ransomware incident, business leaders said they would choose to pay the money if faced with another attack. In contrast, among those that have not so far suffered a ransomware attack, only 67 percent would be willing to pay, and they would be less inclined to do so immediately.

https://www.theregister.com/2022/05/13/organizations_pay_ransomware/

  • 31,000 FTSE 100 Logins Found on Dark Web

Researchers with Outpost24 are reporting over 31,000 corporate credentials for many of the UK’s leading FTSE 100 firms on the dark web. These are the 100 biggest companies listed on the London Stock Exchange by market capitalisation. The researchers used their threat monitoring and auditing tool Blueliv to search dark web sites for the breached credentials.

Key findings from stolen and leaked credentials study:

  • The majority (81%) of the companies within the FTSE 100 had at least one credential compromised and exposed on the dark web

  • 31,135 total stolen and leaked credentials detected for FTSE 100 companies, with 38% disclosed on the underground in the past 12 months

  • Nearly half (42%) of FTSE 100 companies have more than 500 compromised credentials exposed on the dark web

  • Up to 20% of credentials are stolen via malware infection and stealers

  • 11% disclosed in the last 3 months (21% in the last 6 months and over 68% have been exposed for over 12 months)

  • Over 60% of stolen credentials came from 3 industries – IT/Telecom (23%), Energy and Utility (22%) and Finance (21%)

  • IT/Telecoms industry is the most at risk with the highest total amount (7,303) and average stolen credentials per company (730), they are most affected by malware infection and have the most amount of stolen credentials disclosed in the last 3 months

  • On average, healthcare has the highest number of stolen credentials per company (485) from data breach as they found themselves increasingly in the cyber criminals’ crosshairs since the pandemic.

https://informationsecuritybuzz.com/expert-comments/31000-ftse-100-logins-found-on-dark-web/

  • Ransomware: How Executives Should Prepare Given the Current Threat Landscape

As the number of ransomware attacks continue to increase, the response at C-level must be swift and decisive.

Top executives are increasingly dreading the phone call from their fellow employee notifying them that their company has been hit by a cyber attack. Nearly every week in 2021 and early 2022, a prominent organisation has been in the media spotlight as their public relations team struggles to explain how they were attacked and how they can regain consumer confidence. A recent survey showed that 37 percent of organisations surveyed had been affected by ransomware attacks in the last year.

Worse, the days when executive leadership teams could fully delegate responsibility to a CISO are over. Regardless of reality, surveys have shown that about 40 percent of the public perception of fault for a ransomware attack lands squarely on the CEO’s shoulders, and that 36 percent of attacks result in the loss of C-level talent. While executive involvement in the security program does not guarantee a successful defence, it does give the executive leadership team (ELT) a degree of ownership of the final product, as well as the ability to speak confidently and knowledgeably to the public.

https://www.techrepublic.com/article/ransomware-how-executives-should-prepare-given-the-current-threat-landscape/

  • What Your Cyber Insurance Application Form Can Tell You About Ransomware Readiness

The annual cyber insurance application form shows what the carriers think you should be doing to best prevent and recover from ransomware attacks. Pay attention.

If it’s the time of year for you to fill out the annual cyber insurance policy application, you will see how the focus for insurance firms is changing. Each year you can get an insight into what insurance vendors are using to rate the risks and threats to your business and what they are stressing firms should have in place as best practice or what they are expecting you should have in place as a baseline set of controls. Not having them in place could affect insurance rates, whether you are able to get cyber coverage at all, or crucially whether they would pay out in the event of you having to make a claim.

This year you might find more questions specifically around ransomware prevention techniques and protections, from Multi Factor Authentication (MFA) to Endpoint Detection and Response (EDR), and email filtering protections to the robustness of your backups.

Make sure to review your cyber insurance policy and its related questionnaire. And ask whether you are doing everything you can to protect your firm and tailoring your actions to align with what your insurance provider has deemed as a best practice.

https://www.csoonline.com/article/3659831/what-your-cyber-insurance-application-form-can-tell-you-about-ransomware-readiness.html#tk.rss_news

  • NCSC Shut Down 2.7 Million Scams in 2021

The UK National Cyber Security Centre (NCSC) removed 2.7 million online scams last year, it was revealed this week, four times as many scams compared to 2020.

The announcement comes as the security agency shared the most recent data from its Active Cyber Defence initiative at the CYBERUK summit earlier in the week.

According to the NCSC, neutralised scams included fake celebrity endorsements and spoof extortion emails.

It has also been revealed that fraud campaigns used common themes, with NHS vaccines and vaccine passports being particularly popular.

Some cyber criminals even posed as NCSC CEO Lindy Cameron – victims received an email claiming the NCSC had prevented £5m of their money from being stolen, and were urged to supply personal information to retrieve the funds.

https://www.itsecurityguru.org/2022/05/10/ncsc-shut-down-2-7-million-scams-in-2021/

  • Security Threats Targeting Remote Workers

Remote work offers great benefits, like reduced commute time, increased freedom, and more time to spend with loved ones. But there can be security downsides if sufficient controls are not in place to protect remote workers against the digital threats that come with working via unsecured connections.

Being on a home network lacks the layered network security of the company environment. Remote work itself is not new, but the dramatic shift to working from home over the past two years means there are more security-naive people who are not in the office.

Not all security threats are the fault of technology. Much of it also comes from human error.

Remote work greatly exacerbates human-activated risk, and people are working in more distracting environments where they may have to answer the door for deliveries or might multitask with household chores. That means mistakes are more likely to happen, like sending an email to the wrong recipient or falling for a malicious email attack.

Recent research by Egress found that 77% of IT leaders said they have seen an increase in security compromises since going remote two years ago.

https://www.darkreading.com/endpoint/top-6-security-threats-targeting-remote-workers

  • Password Reuse Is Rampant Among Employees in All Sectors

SpyCloud published an annual analysis of identity exposure among employees of Fortune 1000 companies in key sectors such as technology, finance, retail and telecommunications.

Drawing on a database of over 200 billion recaptured assets, researchers identified over 687 million exposed credentials and PII tied to Fortune 1000 employees, a 26% increase from last year’s analysis.

Analysis of this data showed a 64% password reuse rate, widespread use of easy-to-guess passwords, and a spike in malware-infected devices –– all sources of cyber risk for both employers and consumers who rely on businesses to safeguard their personal data. With remote work blurring the lines between work and personal device use, a larger attack surface compounds the risk of cyber attacks proliferating beyond compromised employee and consumer identities to penetrate corporate networks.

https://www.helpnetsecurity.com/2022/05/11/fortune-1000-identity-exposure/


Threats

Ransomware

Phishing & Email Based Attacks

Malware

Data Breaches/Leaks

Organised Crime & Criminal Actors

Cryptocurrency/Cryptomining/Cryptojacking/NFTs

Insider Risk and Insider Threats

Fraud, Scams & Financial Crime

Insurance

Supply Chain and Third Parties

Denial of Service DoS/DDoS

Cloud

Open Source

Travel

Parental Controls and Child Safety

Cyber Bullying and Cyber Stalking

Regulations, Fines and Legislation

Spyware, Espionage & Cyber Warfare, including Russian Invasion of Ukraine








As usual, contact us to help assess where your risks lie and to ensure you are doing all you can do to keep you and your business secure.

Look out for our ‘Cyber Tip Tuesday’ video blog and on our YouTube channel.

You can also follow us on Facebook, Twitter and LinkedIn.

Links to articles are for interest and awareness and linking to or reposting external content does not endorse any service or product, likewise we are not responsible for the security of external links.

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Are you Awesome? We're Hiring!

Due to our continued growth and expansion, and to coincide with the opening of our first UK office in Bristol, we are recruiting for a number of cyber roles in the UK:

  • Cyber Security Analysts

  • Threat Intelligence Analysts

  • Incident Responders and Digital Forensics

  • IT Security/Technical Specialists

  • Microsoft 365 Security Specialists

  • Cyber Risk and Governance Consultants

  • Penetration Testers and Red Team Specialists

  • Trainers

  • Cyber Operations Specialists

Contact us for more information careers@blackarrowcyber.com

blackarrowcyber.com/careers

Due to our continued growth and expansion, and to coincide with the opening of our first UK office in Bristol, we are recruiting for a number of cyber roles in the UK:

  • Cyber Security Analysts

  • Threat Intelligence Analysts

  • Incident Responders and Digital Forensics

  • IT Security/Technical Specialists

  • Microsoft 365 Security Specialists

  • Cyber Risk and Governance Consultants

  • Penetration Testers and Red Team Specialists

  • Trainers

  • Cyber Operations Specialists

Contact us for more information careers@blackarrowcyber.com

blackarrowcyber.com/careers

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Black Arrow Cyber Threat Briefing 05 May 2022

Black Arrow Cyber Threat Briefing 05 May 2022

-Cyber Scams Cost Victims $6.9b-Plus Worldwide in 2021

-Bad Actors Are Maximizing Remote Everything

-New Hacker Group Pursuing Corporate Employees Focused on Mergers and Acquisitions

-FBI: Business Email Compromise: The $43 Billion Scam

-Disgruntled Employees Cashing in On Confidential Information Over Dark Web

-Google Sees More APTs Using Ukraine War-Related Themes

-Cryptocurrency Regulators Are Scrambling to Catch Up with Hackers Who Are Swiping Billions

-Tackling the Threats Posed by Shadow IT

-Hackers Used the Log4j Flaw to Gain Access Before Moving Across a Company's Network, Say Security Researchers

-This Sneaky Hacking Group Hid Inside Networks For 18 Months Without Being Detected

Welcome to this week’s Black Arrow Cyber Threat Briefing – a weekly digest, collated and curated by our cyber experts to provide senior and middle management with an easy to digest round up of the most notable threats, vulnerabilities, and cyber related news from the last week.

Top Cyber Stories of the Last Week

  • Cyber Scams Cost Victims $6.9b-Plus Worldwide in 2021

Cyber-scams cost victims around the globe at least $6.9 billion last year, according to the FBI's latest Internet Crime Report.

Since 2017, the bureau's Internet Crime Complaint Center (IC3) received an average of 552,000 complaints per year. This includes reports of extortion, identity theft, phishing, fraud, and a slew of other nefarious schemes that cost victims no less than $18.7 billion in losses over the five-year period.

Unsurprisingly, the volume of these crimes — and related costs — have grown every year; 2021 set records for the total number of complaints (847,376) as well as losses exceeding $6.9 billion, a jump from the $4.2 billion reported a year earlier.

As with earlier years, phishing attacks were by far the most commonly reported crimes, with 323,972 last year. A subset of this category, business email compromise (BEC), is proving very lucrative and cost victims almost $2.4 billion from 19,954 victims, according to the Feds.

BEC involves a cyber criminal compromising a legitimate email account, and then tricking a business or individual into transferring funds, sending employees' personal data, or unlocking cryptocurrency wallets. The fraudster then steals the cash, drains the crypto wallet and/or sells employees' identities and credentials on the dark web.

https://www.theregister.com/2022/05/05/fbi_cyber_scams/

  • Bad Actors Are Maximising Remote Everything

The rise of remote work and learning opened new opportunities for many people – as we’ve seen by the number of people who have moved to new places or adapted to “workcations.” Cyber criminals are taking advantage of the same opportunities – just in a different way. Evaluating the prevalence of malware variants by region reveals a sustained interest by cyber adversaries in maximising the remote work and learning attack vector.

As hybrid work and learning become embedded paradigms in our culture, there are fewer layers of protection between malware and would-be victims. And bad actors are gaining access to more tools to help them pull off their nefarious deeds – like exploit kits. At the same time, the attack surface has rapidly expanded and continues to do so.

That means enterprises must take a work-from-anywhere approach to their security. They need to deploy solutions capable of following, enabling and protecting users no matter where they are located. They need security on the endpoint (EDR) combined with zero trust network access (ZTNA) approaches.

https://threatpost.com/bad-actors-remote-everything/179458/

  • This Sneaky Hacking Group Hid Inside Networks For 18 Months Without Being Detected

A previously undisclosed cyber-espionage group is using clever techniques to breach corporate networks and steal information related to mergers, acquisitions and other large financial transactions – and they've been able to remain undetected by victims for periods of more than 18 months.

Detailed by cyber security researchers at Mandiant, who've named it UNC3524, the hacking operation has been active since at least December 2019 and uses a range of advanced methods to infiltrate and maintain persistence on compromised networks that set it apart from most other hacking groups. These methods include the ability to immediately re-infect environments after access is removed. It's currently unknown how initial access is achieved. 

One of the reasons UNC3524 is so successful at maintaining persistence on networks for such a long time is because it installs backdoors on applications and services that don't support security tools, such as anti-virus or endpoint protection.

https://www.zdnet.com/article/this-sneaky-hacking-group-hid-inside-networks-for-18-months-without-being-detected/

  • FBI: Business Email Compromise: The $43 Billion Scam

According to the FBI, business email compromise (BEC) and email account compromise (EAC) losses have surpassed $43 billion globally. BEC/EAC is a sophisticated scam that targets both businesses and individuals who perform legitimate transfer-of-funds requests.

The BEC/EAC scam continues to grow and evolve, targeting small local businesses to larger corporations, and personal transactions. Between July 2019 and December 2021, there was a 65% increase in identified global exposed losses, meaning the dollar loss that includes both actual and attempted loss in United States dollars.

The following information was derived from filings with financial institutions between June 2016 and December 2021:

  • Domestic and international incidents: 241,206

  • Domestic and international exposed dollar loss: $43,312,749,946

The following BEC/EAC statistics were reported in victim complaints to the IC3 between October 2013 and December 2021:

  • Total US victims: 116,401

  • Total US exposed dollar loss: $14,762,978,290

  • Total non-US victims: 5,260

  • Total non-US exposed dollar loss: $1,277,131,099

https://informationsecuritybuzz.com/expert-comments/fbi-business-email-compromise-the-43-billion-scam/

  • Disgruntled Employees Cashing in On Confidential Information Over Dark Web

Disgruntled employees are making hundreds of thousands of dollars by leaking confidential information over a new platform on the so-called dark web, cyber researchers have said.

Hidden in a part of the internet that is only accessible using special software, the Industrial Spy platform promises huge payouts to staff willing to hand over "dirty secrets" to competitors, according to experts at intelligence business Cyberint.

Industrial Spy currently has data on twelve companies from a range of industries available to people who sign up, Cyberint said.

The platform recently managed to sell two tranches of company data for $400,000 (£318,236) and $750,000 each.

An individual has advertised the platform to potential purchasers of the data on the dark web.

The post said: "With our information you could refuse partnership with an unscrupulous partner, reveal dirty secrets of your competitors and earn millions of dollars using insider information."

Cyber criminals have long approached employees individually and offered a bribe to release sensitive information such as internal data and passwords to access computer systems.

But this new platform allows employees to act on their own initiative to steal data and sell it online.

https://www.telegraph.co.uk/business/2022/05/02/disgruntled-employees-cashing-confidential-information-dark/

  • Google Sees More APTs Using Ukraine War-Related Themes

Researchers at Google's Threat Analysis Group (TAG) say the number of advanced threat actors using Ukraine war-related themes in cyber attacks went up in April with a surge in malware attacks targeting critical infrastructure.

According to Google, known state-backed APT groups from China, Iran, North Korea, and Russia, along with various unattributed groups have been using war-related themes in phishing and malware distribution campaigns.

Looking at the cyber attacks that target Eastern Europe, however, a new Google report notes there hasn't been a significant change from the normal levels of activity, despite the increased adoption of lures related to the Ukraine war.

https://www.securityweek.com/google-sees-more-apts-using-ukraine-war-related-themes

  • Cryptocurrency Regulators Are Scrambling to Catch Up with Hackers Who Are Swiping Billions

Just four months in, 2022 has been a banner year for hackers, and fraudsters targeting the industry have swindled more than $1 billion from cryptocurrency investors, according to separate estimates by cryptocurrency analysis firm Immunefi.

The rise in fraud has put US regulators on the offensive. The US Securities and Exchange Commission, which has positioned itself as the industry’s main regulator and enforcer, announced on Tuesday that it was going to double its staff working to resources to combat the rise in fraud.

“Crypto markets have exploded in recent years, with retail investors bearing the brunt of abuses in this space. Meanwhile, cyber-related threats continue to pose existential risks to our financial markets and participants,” Gurbir Grewal, director of the SEC’s Division of Enforcement said in a statement. “The bolstered Crypto Assets and Cyber Unit will be at the forefront of protecting investors and ensuring fair and orderly markets in the face of these critical challenges.”

https://www.cyberscoop.com/cryptocurrency-sec-cybersecurity-bitcoin-regulation-enforcement/

  • Tackling the Threats Posed by Shadow IT

While remote technologies have allowed businesses to shift their workforces online, this flexibility has created a swathe of challenges for IT teams who must provide a robust security framework for their organisation – encompassing all the personnel and devices within their remit. In addition to the ever-increasing number of personal devices, corporate devices and programs, more and more applications are moving to the cloud as workloads become increasingly distributed across public clouds and software-as-a-service (SaaS).

This means IT teams are even harder pressed to secure and manage the complex environments they operate in. The unsanctioned use of corporate IT systems, devices, and software – known as shadow IT – has increased significantly during the shift to remote work, and recent research found almost one in seven (68%) are concerned about information security because of employees following shadow IT practices.

Shadow IT can allow hackers to steal employee and customer identities, company intellectual property, and cause companies to fail compliance audits. It can also open the door to enterprises accidentally breaking laws and exposes organisations to data exfiltration, malware, and phishing.

https://www.helpnetsecurity.com/2022/05/05/shadow-it-risk/

  • Hackers Used the Log4j Flaw to Gain Access Before Moving Across a Company's Network, Say Security Researchers

State-backed hacking groups are some of the most advanced cyber attack operations in the world - but criminals don't need to rely on them if they can exploit unpatched cyber security flaws.

A North Korean hacking and cyber espionage operation breached the network of an engineering firm linked to military and energy organisations by exploiting a cyber security vulnerability in Log4j.

First detailed in December, the vulnerability (CVE-2021-44228) allows attackers to remotely execute code and gain access to systems that use Log4j, a widely used Java logging library.

The ubiquitous nature of Log4j meant cyber security agencies urged organisations globally to apply security updates as quickly as possible, but months on from disclosure, many are still vulnerable to the flaw.

According to cyber security researchers at Symantec, one of those companies that was still vulnerable was an undisclosed engineering firm that works in the energy and military sectors. That vulnerability resulted in the company being breached when attackers exploited the gap on a public-facing VMware View server in February this year. From there, attackers were able to move around the network and compromise at least 18 computers.

https://www.zdnet.com/article/heres-how-hackers-used-the-log4j-flaw-to-gain-access-before-moving-across-a-companys-network/

  • New Hacker Group Pursuing Corporate Employees Focused on Mergers and Acquisitions

[Explanatory note from Black Arrow: When a group of cyber attackers is identified by the cyber security community, it is given a code name usually composed of letters and digits. These groups are also sometimes referred to as APTs., or Advanced Persistent Threats, because the groups are highly skilled and are persistent in their attacks; they are often supported by their state government].

A newly discovered suspected espionage threat actor has been targeting employees focusing on mergers and acquisitions as well as large corporate transactions to facilitate bulk email collection from victim environments.

Mandiant is tracking the activity cluster under the uncategorised moniker UNC3524, citing a lack of evidence linking it to an existing group. However, some of the intrusions are said to mirror techniques used by different Russia-based hacking crews like APT28 and APT29.

"The high level of operational security, low malware footprint, adept evasive skills, and a large Internet of Things (IoT) device botnet set this group apart and emphasise the 'advanced' in Advanced Persistent Threat," the threat intelligence firm said in a report.

The initial access route is unknown but upon gaining a foothold, attack chains involving UNC3524 culminate in the deployment of a novel backdoor called QUIETEXIT for persistent remote access for as long as 18 months without getting detected in some cases.

https://thehackernews.com/2022/05/new-hacker-group-pursuing-corporate.html


Threats

Ransomware

Phishing & Email Based Attacks

Malware

Mobile

IoT

Organised Crime & Criminal Actors

Cryptocurrency/Cryptomining/Cryptojacking/NFTs

Supply Chain

Open Source

Passwords & Credential Stuffing

Spyware, Espionage & Cyber Warfare, including Russian Invasion of Ukraine


Nation State Actors

Nation State Actors – Russia

Nation State Actors – China

Nation State Actors – North Korea

Nation State Actors – Misc





As usual, contact us to help assess where your risks lie and to ensure you are doing all you can do to keep you and your business secure.

Look out for our ‘Cyber Tip Tuesday’ video blog and on our YouTube channel.

You can also follow us on Facebook, Twitter and LinkedIn.

Links to articles are for interest and awareness and linking to or reposting external content does not endorse any service or product, likewise we are not responsible for the security of external links.

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Black Arrow Cyber Advisory 04/05/2022 – Avaya and Aruba Switch Vulnerability

Black Arrow Cyber Advisory 04/05/2022 – Avaya and Aruba Switch Vulnerability

Executive Summary

A set of five vulnerabilities named “TLStorm 2.0” have been discovered, affecting some network switches produced by Aruba and Avaya. The vulnerabilities could allow a malicious party to remotely execute code on the devices, allowing access to data flowing through the device or configuration control of the device which could lead to further attacks.

What’s the risk to me or my business?

Network switches are the backbone of IT infrastructure that allows data to flow from different devices. These switches also provide the ability to segregate data, such as having a separate guest and corporate network. If exploited, these vulnerabilities could allow a malicious attacker to bypass a guest network and gain access to the corporate network, which exposes corporate infrastructure to further attacks. There is currently evidence these vulnerabilities are being used in the wild.

What can I do?

Confirm with your managed service provider if affected devices are in use within your organisation, and if the appropriate patches have been supplied to the devices. It is important to remember all network devices when considering software and firmware patching, not just Windows endpoints. Other mitigation steps include limiting the potential attack service by denying management portal access on guest network ports or limiting this specifically to a dedicated management port.

Technical Summary

There are a total of five vulnerabilities disclosed affecting Avaya and Aruba switches. Only four of these vulnerabilities were given CVE’s, as the fifth vulnerability was only found on a discontinued product line. All the vulnerabilities relate to the NanoSSL library, and it’s implementation by the vendors on the network switches. It’s worth noting that the library itself does not contain the vulnerabilities, these vulnerabilities are present due to the vendor not following the correct implementation guidelines for the library.

Avaya - CVE-2022-29860, CVE-2022-29861

·         ERS3500 Series

·         ERS3600 Series

·         ERS4900 Series

·         ERS5900 Series

Aruba - CVE-2022-23677 and CVE-2022-23676

·         Aruba 5400R Series

·         Aruba 3810 Series

·         Aruba 2920 Series

·         Aruba 2930F Series

·         Aruba 2930M Series

·         Aruba 2530 Series

·         Aruba 2540 Series

Further details can be found here, under “Technical Overview”: TLStorm 2.0 - Armis

Need help understanding your gaps, or just want some advice? Get in touch with us.

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Black Arrow Cyber Advisory 03/05/2022 – Hacking tool disclosed for Privilege Escalation on Windows

Black Arrow Cyber Advisory 03/05/2022 – Hacking tool disclosed for Privilege Escalation on Windows

Executive Summary

A privileged escalation hacking tool has been publicly disclosed, which allows an attacker to use the PowerShell to step through a process leading to local administrator access. Known as “KrbRelayUp” takes advantage of default configuration settings for Windows Domain environments, and the ability for local accounts to access Microsoft PowerShell. This attack requires a low-privilege account to be compromised, and could lead to further privilege escalation including compromising a domain administrator account.

What’s the risk to me or my business?

As the requirements for this attack are credentials to a low privileged account, and default configuration for Windows Active Directory, it is a likely path for an attacker to use once they have compromised an account in order to gain privileged access. This vulnerability affects any environments using either Local Domain Controllers, or a Hybrid between Azure and On-Premises Active Directory.

What can I do?

Contact your Managed Service Provider and request that tools such as “PSExec” and “PowerShell” are blocked for standard users, who would not require access to these tools typically used for administration purposes. Other mitigation options include enforcing “LDAP Signing” within active directory environments, however it is important to test the impact that making these changes may have on a production environment to avoid unexpected outcomes.

Technical Summary

The attack follows the following steps:

1.       Compromise/have access to low-privileged credentials linked to a Local Active Directory environment.

2.       Create a new machine account and add this to the domain.

3.       Obtain the SID for the machine account.

4.       Use the KrbRelay software to abuse the attribute “msDS-AllowedToActOnBehalfOfOtherIdentity” of the targeted computer account.

5.       Obtain privileged Silver Ticket for the local machine through Rebeus by performing a Resource-based Constrained Delegation attack (RBCD).

6.       Use the Silver Ticket to authenticate with local service manager, creating a new service as NT/System. This service now has local administrator access.

Further details can be found here:

GitHub - Dec0ne/KrbRelayUp: KrbRelayUp - a universal no-fix local privilege escalation in windows domain environments where LDAP signing is not enforced (the default settings). Privilege Escalation using KrbRelay and RBCD · GitHub

Need help understanding your gaps, or just want some advice? Get in touch with us.

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Black Arrow Cyber Threat Briefing 29 April 2022

Black Arrow Cyber Threat Briefing 29 April 2022

-Ransomware Attacks Surged to New Highs in 2021

-NCSC and Allies Publish Advisory on The Most Commonly Exploited Vulnerabilities In 2021

-Network Attacks Increased to a 3-Year High

-World War Three Is Far More Likely Than Anyone Is Prepared to Admit

-The Ransomware Crisis Deepens, While Data Recovery Stalls

-Ransoms Only Make Up 15% of Ransomware Costs

-Defending Your Business Against Russian Cyber Warfare

-5-Year Vulnerability Trends Are Both Surprising and Sadly Predictable

-Cisco Talos Observes 'Novel Increase' in APT Activity in Q1

-Deepfakes Set to Be Used in Organised Crime

-Smart Contract Developers Not Really Focused on Security. Who Knew?

-Tractor-Trailer Brake Controllers Vulnerable to Remote Hacker Attacks

Welcome to this week’s Black Arrow Cyber Threat Briefing – a weekly digest, collated and curated by our cyber experts to provide senior and middle management with an easy to digest round up of the most notable threats, vulnerabilities, and cyber related news from the last week.

Top Cyber Stories of the Last Week

  • Ransomware Attacks Surged to New Highs in 2021

Ransomware attacks are getting more frequent, more successful and more expensive.

Sixty-six percent of the organisations surveyed by Sophos for its annual State of Ransomware report admitted that they were hit with a ransomware attack last year, up from 37% in 2020. And 65 percent of those attacks were successful in encrypting their victims' data, up from 54 percent the year before.

On top of that, the average ransom paid by organisations for their most significant ransomware attack grew by nearly five times, to just over $800,000, while the number of organisations that paid ransoms of $1 million or more tripled to 11%, the UK-based cybersecurity company said. For its annual report, Sophos surveyed 5,600 organisations from 31 countries. A total of 965 of those polled shared details of their ransomware attacks.

The numbers aren't a huge surprise after a year of epic ransomware attacks that shut down everything from a major oil pipeline to one of the largest meat processors in the US. While both Colonial Pipeline and JBS US Holdings paid millions in ransom, the attacks paused their operations long enough to spark panic buying and drive prices up for consumers.

https://www.cnet.com/tech/services-and-software/ransomware-attacks-surged-to-new-highs-in-2021/#ftag=CAD-09-10aai5b

  • NCSC and Allies Publish Advisory on The Most Commonly Exploited Vulnerabilities In 2021

The UK and international partners have published an advisory for public and private sector organisations on the 15 most commonly exploited vulnerabilities in 2021.

The National Cyber Security Centre (NCSC), a part of GCHQ, has jointly published an advisory with agencies in the US, Australia, Canada and New Zealand, showing that malicious cyber actors aggressively targeted newly disclosed critical software vulnerabilities across the public and private sectors worldwide.

Threat actors often geared their efforts towards targeting internet-facing systems, such as email and virtual private network (VPN) servers.

It also indicates that, to a lesser extent, actors continue to exploit publicly known – and often dated – vulnerabilities, some of which were routinely exploited in 2020 or earlier.

The advisory directs organisations to follow specific mitigation advice to protect against exploitation, which includes applying timely patches, using a centralised patch management system and replacing any software no longer supported by the vendor.

https://www.ncsc.gov.uk/news/ncsc-and-allies-publish-advisory-on-the-most-commonly-exploited-vulnerabilities-in-2021

  •  Network Attacks Increased to a 3-Year High

WatchGuard Technologies’ Internet Security Report for Q4 2021 revealed all threats were up, whether they’re network attacks or malware.

When the pandemic started, their research team saw a big drop in malware being detected by network security devices. In this period, tech based jobs moved to remote work, which meant a lot of users were no longer browsing the internet and encountering bad things through the network security control at the office. That’s probably why network detection for malware dropped quite a bit at the beginning of the pandemic.

Meanwhile, network attacks continued to rise even through the pandemic, since the servers still lived at the offices and the cloud, and network security still protected those.

The big takeaway in Q4 2021 is that malware rose significantly, returning to normal levels. The reason might be the holiday season, but it’s most probably the fact that, at the end of last year, a lot of tech-based offices started reopening and offering employees to come back in, and thus there’s a bigger chance for network security controls to catch malware.

https://www.helpnetsecurity.com/2022/04/25/network-attacks-q4-2021-video/

  • World War Three Is Far More Likely Than Anyone Is Prepared to Admit

A Telegraph article looks at the Russia-Ukraine conflict and considers risks posed by new weapons and how the West’s failure to understand our enemies are raising the chances of a horrific conflict.

The fact is the world is becoming more, rather than less, dangerous: there are plenty of other wannabe Putins, and they are better equipped to sow death and destruction. Not only traditional and nuclear threats but bioterrorism is a growing worry and a major cyber attack or assault on transatlantic cables could be so devastating to an internet-based economy as to be seen as a declaration of war.

https://www.telegraph.co.uk/news/2022/04/27/world-war-three-far-likely-anyone-prepared-admit/

  • The Ransomware Crisis Deepens, While Data Recovery Stalls

Higher probabilities of attack, soaring ransoms, and less chance of getting data back — the ransomware plague gets worse, and cyber insurance fails to be a panacea.

When it comes to ransomware, more companies are seeing attacks and have had data encrypted, according to research out this week. And even though more companies are backing up or paying ransom demands, less data was recovered in 2021 compared with the previous year.

For instance, in its "State of Ransomware 2022" report, cybersecurity firm Sophos found that 66% of surveyed companies had encountered ransomware in 2021, with two-thirds of those firms — or 43% overall — suffering from an actual attack that encrypted data. In its previous report covering 2020, the frequency of successful attacks was much smaller, with about 20% overall resulting in encryption.

The deteriorating cyberthreat landscape is largely due to the evolution of ransomware groups and their techniques, says Sean Gallagher, senior threat researcher with Sophos.

"Over the past couple of years, there has been a massive transition from ransomware to ransomware-as-a-service," he says. "There are very well-established [groups] that are doing these attacks, and as a result, the number of attacks companies are seeing has gone up."

Ransomware continues to plague companies with business-disrupting attacks and defy efforts by cybersecurity experts to rein in the operators behind the criminals’ campaigns. Not only did the portion of companies affected by ransomware more than double last year, but the mean ransomware payment more than quadrupled to $812,000, according to the Sophos report.

https://www.darkreading.com/attacks-breaches/ransomware-crisis-deepens-data-recovery-stalls

  • Ransoms Only Make Up 15% of Ransomware Costs

New research suggests that paying ransoms is only the tip of the cost iceberg when it comes to ransomware attacks.

Researchers at Check Point have revealed that the collateral damage of ransomware attacks make up costs roughly seven times higher than the ransom demanded by threat actors.

The costs include financial implications caused by incident response efforts, system restoration, legal fees, monitoring costs and the overall impact of business disruption.

Ransomware attacks are an increasingly popular attack method, typically involving stealing data from the victim, encrypting data and forcing them to pay for decryption and avoiding a data leak.

Check Point said in the report:

“Most other losses, including response and restoration costs, legal fees, monitoring costs, etc., are applied whether the extortion demand was paid or not. The year 2020 showed that the average total cost of a ransomware attack was more than seven times higher than the average ransom paid.”

https://www.itsecurityguru.org/2022/04/28/ransoms-only-make-up-15-of-ransomware-costs/

  • Defending Your Business Against Russian Cyber Warfare

We are likely to see Russian state sponsored attacks escalate as the West continues to increase sanctions and support Ukraine.

The eyes of the world are focused on the war in Ukraine. As expected, Russia has targeted Ukraine with cyber attacks first, and much of the West is wondering when Russia will also retaliate against countries supporting Ukraine. Most agree that some attacks are already in progress, and the attacks against western entities are sure to escalate as the war continues and more sanctions are put in place. 

The first wave of companies targeted by the Russian state, and threat actors it supports, will be those that suspend Russian operations or take direct action to support Ukraine. Information operations and subversion against these companies will likely ensue. In the event of Russian cyberwarfare, reviewing the industries, styles, and objectives of their attacks can help organisations to prepare and implement more robust defences. These defences include actions both inside and outside an enterprise's perimeter.

https://www.securityweek.com/defending-your-business-against-russian-cyberwarfare

  • 5-Year Vulnerability Trends Are Both Surprising and Sadly Predictable

What 5,800+ pentests show us: Companies have been struggling with the same known and preventable security bugs year over year. Bandwidth stands at the heart of the problem.

Cyber crime can cause major disruption when it comes to the sustainability and long-term success of companies. Teams want to have robust security but often struggle to meet that objective. It's crucial for security professionals to leverage insights into emerging trends in cybersecurity to pinpoint which vulnerabilities put organisations at the greatest risk, and Cobalt's "State of Pentesting" reports explore how to achieve efficiency to strengthen security.

The "State of Pentesting 2022" surveyed 602 cybersecurity and software development professionals and analysed data from 2,380 pentests conducted over the course of 2021 to pull key insights that are relevant to security and development teams when it comes to fixing vulnerabilities.

As a result of the data collected, the top five most common vulnerability categories outlined in this year's "State of Pentesting" report include:

·       Server Security Misconfigurations

·       Cross-Site Scripting (XSS)

·       Broken Access Control

·       Sensitive Data Exposure

·       Authentication and Sessions

Surprisingly — yet predictably — these vulnerability categories have stayed at the top of the list for at least the last five years in a row. They're also recognisable to those who are familiar with OWASP Top 10 list for Web Application Security Risks.

The majority of these findings are connected to missing configurations, outdated software, and a lack of access management controls — all common and easily preventable security flaws. So, what's holding companies back from preventing well-known security flaws? Why does this come as a surprise?

https://www.darkreading.com/vulnerabilities-threats/5-year-vulnerability-trends-are-both-surprising-and-sadly-predictable

  • Cisco Talos Observes 'Novel Increase' in APT Activity in Q1

Advanced persistent threat actors have been busy over the past few months, according to Cisco Talos.

The security vendor released its Quarterly Trends report, which examined incident response trends from engagements in the first quarter of 2022. While ransomware remained the top threat, as it has for the past two years now, Cisco observed a new trend of increased APT activity. The Cisco Talos Incident Response (CTIR) team attributed some of the increase to groups like Iranian state-sponsored Muddywater and China-based Mustang Panda.

One suspected Chinese APT, dubbed "Deep Panda," was connected to exploitation of the Log4j flaw that was discovered last year in the widely used Java logging tool. Log4j exploitation was the second most common threat for Q1 behind ransomware, indicating the bug is a growing threat despite a patch being available.

https://www.techtarget.com/searchsecurity/news/252516380/Cisco-Talos-observes-novel-increase-in-APT-activity-in-Q1

  • Deepfakes Set to Be Used in Organised Crime

New research from Europol suggests that deepfakes will be used extensively in organised crime operations.

Europol has warned of a projected rise in the use of deepfake technology by organised crime organisations.

Deepfakes involve the use of artificial intelligence to create realistic audio and audio-visual content “that convincingly shows people saying or doing things they never did, or create personas that never existed in the first place.”

Law enforcement and the challenge of deepfakes is the first published analysis of the Europol Innovation Lab’s Observatory function, warning that law enforcement agencies must rapidly improve skills and technologies utilised by officers in order to keep up with criminal deepfake use.

The analysis report highlighted how deepfakes are used primarily in disinformation, non-consensual pornography and document fraud campaigns, which will grow more realistic in years to come.

https://www.itsecurityguru.org/2022/04/29/deepfakes-set-to-be-used-in-organised-crime/

  • Smart Contract Developers Not Really Focused on Security. Who Knew?

"Smart contracts," which consist of self-executing code on a blockchain, are not nearly as smart as the label suggests.

They are at least as error-prone as any other software, where historically the error rate has been about one bug per hundred lines of code.

And they may be shoddier still due to disinterest in security among smart contract developers, and perhaps inadequate technical resources.

Multi-million dollar losses attributed to smart contract bugs – around $31m stolen from MonoX via smart contract exploit and ~$34m locked into a contract forever due to bad increment math, to name a few – illustrate the consequences.

https://www.theregister.com/2022/04/26/smart_contract_losses/

  • Tractor-Trailer Brake Controllers Vulnerable to Remote Hacker Attacks

We’ve been predicting this for a while now and the move to more and more connected systems, autonomous and semi-autonomous vehicles, how long until someone is subject to threats to disconnect a vehicle’s brakes as they are driving along a motorway? Who wouldn’t pay the ransom demand in that scenario?

A report this week is related to articulated lorries but this is something that will be affecting all vehicles unless safeguards are put in place.

Researchers have analysed the cyber security of heavy vehicles and discovered that the brake controllers found on many tractor-trailers in North America are susceptible to remote hacker attacks.

The research was conducted by the US National Motor Freight Traffic Association (NMFTA), which is a non-profit organisation that represents roughly 500 motor freight carriers, in collaboration with Assured Information Security, Inc.

NMFTA has been analysing the cyber security of heavy vehicles since 2015 and it has periodically disclosed its findings. The latest report from the organisation came in early March, when the US Cybersecurity and Infrastructure Security Agency (CISA) also issued an advisory to describe two vulnerabilities affecting trailer brake controllers.

The flaws described in the CISA advisory are related to the power line communications (PLC) between tractors and trailers, specifically the PLC4TRUCKS technology, which uses a standard named J2497 for bidirectional communications between the tractor and trailer without adding new wires.

https://www.securityweek.com/tractor-trailer-brake-controllers-vulnerable-remote-hacker-attacks


Threats

Ransomware

Phishing & Email Based Attacks

Malware

Mobile

Organised Crime & Criminal Actors

Cryptocurrency/Cryptomining/Cryptojacking/NFTs

Insider Risk and Insider Threats

AML/CFT

Denial of Service DoS/DDoS

Cloud

Travel

Parental Controls and Child Safety

Spyware, Espionage & Cyber Warfare, including Russian Invasion of Ukraine








As usual, contact us to help assess where your risks lie and to ensure you are doing all you can do to keep you and your business secure.

Look out for our ‘Cyber Tip Tuesday’ video blog and on our YouTube channel.

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Links to articles are for interest and awareness and linking to or reposting external content does not endorse any service or product, likewise we are not responsible for the security of external links.

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