Tag: cybercrime

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China in breach of cyber-security pact
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China’s main security agency linked to cyber intellectual property theft
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US, Russia and China don’t pledge to fight cybercrime
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Cyber-criminals outspend organisations more than 10 times in bid to find cybersecurity weaknesses – who says cyber-crime doesn’t pay?
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I Spy With My Little Phone – New Laws giving access to your phone data
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Former MasterChef contestant falls victim to online fraud attack
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Research reports say risks to smartphone security aren’t phoney
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Not so happy families: Online genealogy website suffers data breach
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North Korean cyberattacks increase ahead of summit
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Cost of cybercrime hits a new high according to the ACCC’s Scamwatch Report

China in breach of cyber-security pact

By Cameron Abbott and Wendy Mansell

It has been a fairly turbulent week in the cyber-espionage space following accusations that China’s Ministry of Security Services is behind the surge of intellectual property theft from Australian companies.

The news that the persistent attacks on Australian IP are perhaps a State sponsored campaign by the Chinese government is concerning as it suggests that China are in breach of several international and bilateral agreements.

In 2015, an agreement was made between Chinese President Xi Jinping and former President Obama, that the U.S and China would not steal intellectual property from one another for commercial gain. This was furthered at the November 2015, G20 Summit, where the cyber-theft of IP was accepted as the norm.

Following on from this in September 2017, former Prime Minister Malcolm Turnbull and Chinese Premier Li Kequiang promised that neither country would engage in cyber-theft of intellectual property and commercial secrets.

Reports of cyber-theft declined immediately after these agreements, however in recent months they have ramped up again.

A U.S Trade Representative report released this week confirms that despite any international agreements, China has continued engaging in cyber-espionage and the theft of intellectual property. Further the report states that not only is China likely to be in breach of these agreements, but the attacks have “increased in frequency and sophistication”.

Notably in July of this year, China was linked to the cyber-breach of Australian National University. This attack was particularly disturbing given that ANU is a leading university involved in key areas of Australian technological, scientific, defence and commercial research.  It is fascinating that cyber attacks and theft are a “norm” that is accepted within our overall international relationships.  Physical acts of a similar nature would not be so easily accepted.

China’s main security agency linked to cyber intellectual property theft

By Cameron Abbott and Wendy Mansell

In April 2017, PWC, in collaboration with BAE Systems’ published a report on “Operation Cloud Hopper”, which exposed a cyber espionage campaign being conducted by a China-based threat actor. The report suggests that Operation Cloud Hopper is almost certainly the same threat actor known as “APT10”, a Chinese group thought to be behind cyber-attacks against many countries including Japan, Canada and America.

Recently it has been reported that there are links between China’s Ministry of State Security (MSS) and Operation Cloud Hopper. These allegations are from U.S based firm CrowdStrike who have recognised ties between Operation Cloud Hopper and the MSS Tianjin Bureau.

There is no confirmation that the MSS is behind the Cloud Hopper attacks, however Dr Adrian Nish, Head of Threat of Intelligence at BAE Systems said that there is “no reason to doubt” the claims.

The term “Cloud Hopper” describes a technique where cyber espionage groups “hop” from cloud storage services and infiltrate Australian IT systems. Operation Cloud Hopper is responsible for the theft of intellectual property from a number of Australian companies, primarily focused on mining, engineering and professional services firms.

In a week full of news about China activities in the region, the suggestion of state sponsored hacking thefts is a salient warning to companies that their core intellectual property assets are at risk if not well secured.

US, Russia and China don’t pledge to fight cybercrime

By Cameron Abbott and Wendy Mansell

Fifty countries including Japan, Canada and many EU nations have come together with over 150 tech companies, pledging to fight against cybercrime. United State’s tech giants such as Facebook, Google and Microsoft have also joined the party.

The United States, Russia and China however have decided not to sign on. Each has no doubt very different reasons for this – the disappointment is mostly directed to the US. However it is a shame that Russia and China did not also feel the weight of the international community pressure to accept these principles.

The effort to combat cybercrime is being led by France, with French President Emmanuel Macron claiming that it is urgent that the internet is better regulated.

The countries and companies involved are fighting against illegal online activity like censorship, cyber interference in elections, hate speech and trade secrets theft.

The pledge has been made in a document titled the “Paris call for trust and security in cyberspace”.

Cyber-criminals outspend organisations more than 10 times in bid to find cybersecurity weaknesses – who says cyber-crime doesn’t pay?

By Cameron AbbottRob Pulham and Colette Légeret

Cyber attackers are able to search for that one weak link in corporations defences whereas corporates have to create a completely strong chain of defence against every possible scenario.  This asymmetrical fight would you think mean organisations would have to outspend attackers by many multiples.

However, according to software company, Carbon Black, the situation is worse than that because it appears that cyber criminals are outspending corporation!  Cyber-crime is big business, and as such, cyber-criminals are spending an estimated $1 trillion each year on finding weaknesses in the cyber defences of organisations and developing new ways of attacking them, in comparison to the $96 billion spent by organisations in an attempt to secure themselves from these cyber-attacks.

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I Spy With My Little Phone – New Laws giving access to your phone data

By Cameron Abbott and Colette Légeret

Yesterday, the Australian Government unveiled the draft Telecommunications and Other Legislation Amendment (Assistance and Access) Bill 2018 which aims to compel telecommunication and multi-national tech companies (Providers) to give law enforcement and security agencies (Agencies) access to personal encrypted data of suspected criminals, including terrorists, child sex offenders and criminal organisations.

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Research reports say risks to smartphone security aren’t phoney

By Rob Pulham, Warwick Andersen and Sarah Goegan

Beware! Your favourite apps may be putting your phone and data at risk. Reports from Allot and BitSight have examined rising threats to the security of our mobile devices.

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Not so happy families: Online genealogy website suffers data breach

By Cameron Abbott, Rob Pulham and Sarah Goegan

Online genealogy platform MyHeritage suffered a major data breach in which email addresses and hashed passwords of over 92 million users were leaked. The data breach occurred in October 2017, but was not discovered until 4 June 2018.

MyHeritage became aware of the breach after a security researcher found a file named “myheritage” on a private server. The file contained all the email addresses of MyHeritage users who signed up through to 26 October 2017, and their hashed passwords.

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North Korean cyberattacks increase ahead of summit

By Cameron Abbott and Sarah Goegan

North Korean cyberattack activity appears to have ramped up ahead of the highly anticipated US-North Korea summit, which is expected to take place on 12 June 2018.

North Korean hackers known as Group 123 have been identified as the party responsible for new malware activity targeting users in South Korea.

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Cost of cybercrime hits a new high according to the ACCC’s Scamwatch Report

By Cameron Abbott and Giles Whittaker

Australians are suffering more than ever to various cyber scams, with the ACCC’s ninth annual Targeting Scams Report confirming the ACCC received more than 200,000 scam reports costing a total of roughly $340 million during 2017, a $40 million increase from 2016. Whilst this increase is attributed to a variety of different cyber scams, including investment scams which totalled $64 million, an increase of more than 8%, the second largest contributor to the $340 million total losses was from dating and romance scams which amounted to $42 million. The search for love clearly has its costs. With the average loss suffered per victim totalling $6500, these losses are not inconsequential and continue to push cybersecurity into the forefront of both individuals and businesses daily activities.

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