A majority of financial institutions have reported a rise in account opening fraud and payment scams, which is expected to continue and cause losses for banks, says Trace Fooshee, strategic adviser at Aite-Novarica Group. He discusses new technologies to put in place to mitigate scam attacks.
Accelerated digital transformation has only complicated the identity verification challenge for enterprises. But Chuck Moore of Early Warning says behavioral analytics and anomaly detection combined can reduce both fraud and the friction that can come with traditional authentication methods.
Microsoft has observed a 254% increase in activity over the past six months from a Linux Trojan called XorDdos. First discovered in 2014, XorDdos was named after its denial-of-service-related activities on Linux endpoints and servers and its usage of XOR-based encryption for its communications.
Containers and cloud-based resources are being used to launch DoS attacks against Russian, Belarusian and Lithuanian websites. Cybersecurity firm CrowdStrike's researchers say that through their Docker Engine honeypots, they observed two different Docker images targeting these assets.
The Computer Emergency Response Team of Ukraine and the National Bank of Ukraine are warning of massive DDoS attacks against pro-Ukrainian targets. The intelligence service in Romania, SRI, also warns of a similar type of attack targeting sites belonging to its national authorities.
Russian government hackers and cybercrime groups are teaming up to launch cyberattacks against the West in retaliation for its support of Ukraine. Some cybercrime groups have pledged to support the Russian government and threatened to go after countries providing material support to Ukraine.
At a time when applications are more business-critical than ever - and visibility is more challenging to achieve - we need to discuss new strategies and tools for maximizing application intelligence. Sujay Pathakji of Axiom Telecom and Srudi Dineshan of Gigamon share insights.
A new ongoing malware campaign is currently being conducted in the wild, targeting unpatched TOTOLINK routers. By leveraging a newly released exploit code, threat actors can use this variant of the Mirai botnet, called Beastmode, to potentially infect vulnerable devices.
When it comes to advanced threat response, 42% of financial institutions say their current abilities are average. Only 35% say automation currently plays a strong role. Josh Zelonis of Palo Alto Networks and Sid Srivastava of Accenture analyze the State of Security Automation in Financial Services.