Bitcoin has enabled fast payments to cybercriminals pushing ransomware. How to deal with bitcoin is the subject of a spirited debate, with some arguing to restrict it. But bitcoin doesn't always favor cybercriminals, and it may actually be more of an ally than a foe by revealing webs of criminality.
Cryptocurrency has a reputation for being tough to trace - no wonder anonymity-craving criminals favor using it. In reality, cryptocurrencies don't make users anonymous. But just how did the FBI recover most of the bitcoins paid by Colonial Pipeline to the DarkSide ransomware operation?
Criminals tricked into using an FBI-run encrypted messaging app, Verizon's 2021 Breach Investigations Report and overcoming the challenges of recruiting cybersecurity professionals are among the latest cybersecurity topics to be featured for analysis by a panel of Information Security Media Group editors.
The U.S. Justice Department reported it recouped $2.3 million of the $4.4 million ransom Colonial Pipeline Co. paid following a May 7 ransomware attack. The DOJ's Ransomware and Digital Extortion Task Force coordinated the effort, in which the FBI tracked payment to a bitcoin wallet it controls.
"Cybercrime is an evolution, not a revolution," says Europol's Philipp Amann, who oversees the EU law enforcement intelligence agency's annual study of the latest cyber-enabled crime trends. Ransomware, social engineering and the criminal abuse of cryptocurrency and encryption are some of the top threats.
Ransomware attacks remain the top cyber-enabled threat seen by law enforcement. But phishing, business email compromises and other types of fraud - many now using a COVID-19 theme - also loom large, Europol warns in its latest Internet Organized Crime Threat Assessment.
For over 2000 years, governments, armies, businesses and lovers have been encrypting messages. For the same amount of time, the keys used to perform the encryption have been the weakest link in the chain. After 2000 years, technology has advanced such that the keys can be protected but many companies don't understand...
Instead of proving a flash in the pan, enthusiasm for cryptocurrency has grown - and with it the associated fraud. Cyber criminals were quick to develop malware with the aim of stealing cryptocurrencies, with attackers finding ways to exploit the anonymity offered.
The fast-evolving, sophisticated, and increasingly global threat of financial crime is one of banking's biggest challenges. To be truly future-proof, institutions must move faster than the criminals who seek to attack them - which makes one thing clear: The most successful and profitable banks of tomorrow will be...
Malicious cryptomining has consistently been one of the top threats across all internet activity in 2018. Cryptocurrency's market volatility could make it much more lucrative than ransomware.
Download this eBook and find out who they're targeting and how to protect your network.
The latest edition of the ISMG Security Report describes vulnerabilities found in popular password generator apps. Plus, the evolution of blockchain as a utility and a new decryptor for GandCrab ransomware.
Our goal with this report has always been to track the ever-shifting contours of the cyber-threat landscape and communicate what
we're seeing to our readers.
Generally speaking, the TLI is based on the premise that if organizations are seeing more threats more frequently, then things are
getting worse. If the...
A new exploit opportunity has fallen into the laps of Cybercriminals. They have now set their sights on the virtual (and volatile) world of cryptocurrency. Since the start of 2017 various currencies have rocketed and tumbled in value - this represents a valuable new opportunity for cybercriminals to increase their...
Among cybercrimes, financial fraud in particular can be notoriously hard to detect and easy to cover up. But is blockchain technology, with its distributed digital ledger, a new tool to help organizations reduce risk and improve the overall cybersecurity posture? Or is it potentially a source of further cybersecurity...
Financial fraud can be notoriously hard to detect and easy to cover up. But does blockchain technology with its distributed digital ledger now offer a new tool to help organizations reduce risk and prevent fraud? Which key business and technical factors will help blockchain scale for the large enterprise? Attend this...