To help MailGuard partners stay on top of cybersecurity news, each month we share a handful of posts from our social media that we found important or interesting.
In no particular order, here’s a roundup of the stories that grabbed our attention in August:
- ACCC Warning of Suspicious Messages as “Hi Mum” Scams Spike
Throughout the year, fraudsters have quietly been targeting Australians by sending out “Hi Mum/Hi Dad” messages via SMS and apps like WhatsApp, posing as children and scamming unsuspecting parents out of money. However, after a surge in the attacks in just the past couple of months, the ACCC are urging the public to be wary of any messages from numbers they don’t recognise which ask for help.So far this year, more than 1,150 Australians have lost a total of over $2.6 million to the scam. ACCC Deputy Chair Delia Rickard offers this advice, “If you’re contacted by someone claiming to be your son, daughter, relative or friend, start by calling them on the number already stored in your phone to confirm if it’s no longer in use. If they pick up – you know it’s a scam”.
Read more here: https://www.accc.gov.au/media-release/accc-warning-of-suspicious-messages-as-%E2%80%9Chi-mum%E2%80%9D-scams-spike
- A Sinister Way to Beat Multifactor Authentication is on the Rise
Multi-factor authentication (MFA) is one of the best ways to secure your accounts. However, it’s a well-known fact that some authentication methods are stronger than others. Biometric factors, such as fingerprints and facial recognition, are harder for attackers to bypass, yet they’re still rarely an option.
Cybercrime gangs are now taking advantage of less secure factors, such as one-time passwords (OTP) and push notifications, to gain unauthorised access to accounts. This is achieved via a method referred to as ‘MFA prompt bombing’. Typically, it involves spamming a victim’s device with MFA push notifications until one is accepted. It’s a concerning discovery which will hopefully lead to businesses adopting more secure MFA methodologies.Read more here: https://www.wired.com/story/multifactor-authentication-prompt-bombing-on-the-rise/
- No to Ransomware: How 1.5m People Avoided Extortion with Free Decrypting Tools
The No More Ransomware project was launched in 2016 and now offers 136 free decryption tools which work on 165 ransomware variants, including GandCrab, REvil, and Maze.
The project, which was a combined effort between Europol the Dutch National Police, and a handful of cybersecurity and IT companies, has now helped over 1.5 million victims of cyberattacks successfully decrypt their devices without having to pay a ransom, saving an estimated $1.5 billion from landing in the hands of cybercriminals.Read more here: https://www.cybersecurityconnect.com.au/commercial/8082-how-1-5-million-people-retrieved-their-files-without-paying-hackers-ransom
- Data Breach Costs Spread Downstream, IBM Says
The global average cost of a data breach has hit a record USD $4.35 million this year, and for businesses in the US the average is a staggering $9.4 million. However, IBM’s 2022 Cost of a Data Breach Report has revealed that the costs are trickling down to customers, with 60% of businesses increasing the prices of products and services to cover losses after a breach.
What makes this all the more shocking is that “nearly half of all organisations who participated in the study have minimal or no cloud security practices in place”. Now is the time to increase your business’s cybersecurity. Don’t wait until it’s too late.Read more here: https://www.cybersecuritydive.com/news/data-breach-costs-ibm-security/628443/
- Cyber Attack Hits NHS 111 Emergency Line in UK: Telegraph
The UK’s National Health Service (NHS) 111 emergency service faced delayed response times after their MSP, Advanced, fell victim to a major cyberattack which was identified on the 4th of August.
Advanced supplies the NHS hotline with approximately 85% of their software services, including those that allow “call handlers to dispatch ambulances, book urgent appointments or fulfil emergency prescriptions.”Read more here: https://www.bloomberg.com/news/articles/2022-08-06/cyber-attack-disrupts-nhs-111-emergency-line-in-uk-telegraph
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