With the COVID-19 health crisis evolving so quickly, it's hard to predict the extent of the long-term impact on business and the economy. While every business sector is facing different considerations, it's safe to say all are handling challenges from supply chain interruptions, rapid shifts to remote work, and massive changes in consumer spending and communication habits. more
NASCAR team Circle Sport-Leavine Family Racing (CSLFR) disclosed today a ransomware infection incident that took place in April and nearly caused losing access to critical files worth about $2 million. more
A recently conducted analysis of Canada's cyber security risk profile by Websense has detected trends indicating Canada is becoming the new launchpad for cybercriminals. Sr. Manager, Security Research at Websense in a blog post writes: "Cybercriminals are on the move again. And, this time, Canada is the prime target. IP addresses in China and Eastern Europe are highly scrutinized and undergoing intense evaluation. So hackers are on a quest to move their networks to countries, like Canada, that have better cyber reputations." more
Virus researchers at Symantec Corp. have revealed a variant of the Stuxnet worm, named Duqu, that is found to be stealing information about industrial control systems. Symantec reports: "Duqu's purpose is to gather intelligence data and assets from entities, such as industrial control system manufacturers, in order to more easily conduct a future attack against another third party. The attackers are looking for information such as design documents that could help them mount a future attack on an industrial control facility... Parts of Duqu are nearly identical to Stuxnet, but with a completely different purpose." more
The United States White House Office of Science and Technology Policy (OSTP) has released a new report titled, Trustworthy Cyberspace: Strategic Plan for the Federal Cybersecurity Research and Development Program, specifying an agenda for "game-changing" cybersecurity R&D according to an official announcement today. The report is described as "a roadmap to ensuring long-term reliability and trustworthiness of the digital communications network that is increasingly at the heart of American economic growth and global competitiveness." more
Eugene Kaspersky, co-founder of Internet security software Kaspersky Lab, was recently interviewed PC World where he talked about his views regarding cybersecurity and the evolution of malware. In response to fixing the problems with malware on the Internet, Kapersky says: "The Internet was never designed with security in mind. If I was God, and wanted to fix the Internet, I would start by ensuring that every user has a sort of Internet passport: basically, a means of verifying identity, just like in the real world, with driver's licenses and passports and so on. The second problem is one of jurisdiction. The Internet has no borders, and neither do the criminals who operate on the Internet. However, law enforcement agencies have jurisdictional limits, and are unable to conduct investigations across the globe. ... There is no such thing as anonymity on the Internet, for the average user." more
Chancellor George Osborne announces government plan to almost double its investment in cyber security initiatives over the next five years, spending an additional £1.9 billion. more
At a speech during the Security and Defense Agenda meeting on 30 January Vice-President of the European Commission, Neelie Kroes, showed how the Commission envisions public-private cooperation on cyber security. more
The American National Standards Institute (ANSI) and the Internet Security Alliance (ISA) released today a new action guide to assist business executives in the analysis, management and transfer of financial risk related to a cyber attack. In 2004, the Congressional Research Service estimated the annual economic impact of cyber attacks on businesses -- which can come from internal networks, the Internet or other private or public systems -- to be more than $226 billion. In 2008, U.S. Department of Homeland Security Secretary Michael Chertoff named cyber risks one of the nation's top four priority security issues. more
In part three of this series of posts looking at emerging internet content relating to coronavirus, we turn our attention to mobile apps - another digital content channel that can be used by criminals to take advantage of people's fears about the health emergency for their own gain.One of the most common attack vectors we have found in our analysis is the use of apps purporting to track global progression of COVID-19, or provide other information, but which instead incorporate malicious content. more
The UK government has released the results of national cybersecurity survey revealing nearly seven in ten large companies in the country have identified a breach or attack in the past 12 months. more
United States Justice Department has announced that US and China have reached an agreement governing how the two countries will request assistance to combat cybercrime. more
A recent quarterly report titled "State of the Internet" has been released by Akamai providing Internet statistics on the origin of Internet attack traffic, network outages and broadband connectivity levels around the world. According to the report, during the first quarter of 2008, attack traffic originated from 125 unique countries around the world. China and the United States were the two largest traffic sources, accounting for some 30% of traffic in total. The top 10 countries were the source of approximately three quarters (75%) of the attacks measured. Other observations include... more
In a significant global operation, law enforcement agencies from 10 countries have severely disrupted the LockBit ransomware group, recognized as the most prolific and harmful cyber threat worldwide. more
The Obama administration is developing a package of unprecedented economic sanctions against Chinese companies and individuals who have benefited from their government’s cybertheft of valuable U.S. trade secrets. The U.S. government has not yet decided whether to issue these sanctions, but a final call is expected soon, perhaps even within the next two weeks. more
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