Trends 2018: Critical infrastructure attacks on the rise

Healthcare sectors, critical manufacturing, food production and transportation also said to be targets for cybercriminals. Cyberthreats to critical infrastructure jumped into the headlines in 2017, starting with a Reuters report in January that a recent power outage in Ukraine “was a cyber-attack”. In last year’s Trends report we said that we expected infrastructure attacks to “continue to … More Trends 2018: Critical infrastructure attacks on the rise

Two Canadian banks warn attackers may have stolen customer data

Simplii Financial and Bank of Montreal are believed to have suffered a twin attack that was soon followed by blackmail threats. Two Canadian banks have announced that cybercriminals may have made off with the data of up to 90,000 of the banks’ customers in apparent security breaches, according to a CBC.ca report. Online bank Simplii Financial … More Two Canadian banks warn attackers may have stolen customer data

Losses from Business Email Compromise scams rising fast and furious

In 2017, the victims of BEC fraud were stung for $676 million, almost double the loss totals reported in the previous year. The FBI’s Internet Crime Complaint Center (IC3) received a record-high 301,000 complaints of internet-facilitated fraud and other cybercrimes in 2017, with reported losses adding up to $1.42 billion. Pegged at over $676 million, … More Losses from Business Email Compromise scams rising fast and furious

GDPR: One rule to rule them all – legally

It’s here! But what are the legal ramifications of the incoming legislation for businesses? There is a certain similarity between J. R. R. Tolkien’s The Lord of the Rings trilogy and General Data Protection Regulation (GDPR) coming to force today, May 25 2018. As weird as it may sound, the regulation puts in place standards identical to those of … More GDPR: One rule to rule them all – legally

Amazon Rekognition a possible threat to the civil rights of citizens

Use of software by law enforcement as a surveillance tool is a real concern for groups. Amazon has come under fire from civil rights groups in the US that say their online service that identifies faces in images could be abused by law enforcement. The American Civil Liberties Union (ACLU) released a statement on Tuesday asking the … More Amazon Rekognition a possible threat to the civil rights of citizens

Mexico: Cybercriminals steal at least 400 million pesos through unauthorized transfers

While the exact amount of stolen money and source of the cybercriminals are not known, the authorities have confirmed that no clients were affected. Cybercriminals infiltrated the Mexican financial system for several days at the end of April and stole nearly 400 million Mexican pesos (almost $20 million) from concentration accounts but not from private clients. It … More Mexico: Cybercriminals steal at least 400 million pesos through unauthorized transfers

£120,000 fine for university after details of 20,000 staff and students exposed in data breach

The University of Greenwich has received a fine of £120,000 because of the substantial damage and substantial distress caused by a security breach that exposed the personal information of 20,000 people. It’s called “Shadow IT”, and it’s a problem that has now cost a British university £120,000 (over US $160,000) following a serious security breach. … More £120,000 fine for university after details of 20,000 staff and students exposed in data breach