Tag: cybersecurity threat

1
Can It Get Any Worse? Travel Giant CWT pays $4.5 Million USD ransom to Hackers who Stole Corporate Files and Knocked 30,000 Computers Offline
2
Update: Australia’s 2020 Cyber Security Strategy
3
Under attack: Lion suffers second cyberattack and the Federal Government warns of an active cyberattack on Australian organisations
4
A phishing pandemic – Part II
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A phishing pandemic – Part I
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Don’t let coronavirus get your system infected
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Could your ERP system make you a victim of cybercrime?
8
Technology mightier than the Sword: US Military’s Secret Cyber Strike stifles Iranian Forces
9
AI (Adverse Inferences): AI Lending Models may show unconscious bias, according to Report.
10
Interlopers in Things? IoT devices may be used as backdoors to your network

Can It Get Any Worse? Travel Giant CWT pays $4.5 Million USD ransom to Hackers who Stole Corporate Files and Knocked 30,000 Computers Offline

By Cameron Abbott and Max Evans

In these unprecedented times, where travel around the globe is primarily halted as nations get to grips with controlling the outbreak of COVID-19, many would think it couldn’t get any worse for travel companies. However, they would be wrong, as according to an article from ITNews, American travel management giant CWT has reportedly paid a whopping 414 bitcoin, equivalent to a value of 4.5 Million USD (approximately 6.3 Million AUD), to hackers who successfully exfiltrated over 2 terabytes of sensitive corporate files.

According to the Article, the successful hackers used a strain of ransomware referred to as “Ragnar Locker” which places computer files into a virtual prison through encryption and renders them unusable until the victim pays for the keys. Then in CWT had to negotiate in a public chat forum to pay for the release.  It gives us a rare insight into the dialogue that followed. CWT negotiated the hackers down from their initial demand of 10 Million USD. According to the Report, whilst the hackers claimed to have stolen over 2 terabytes of files including financial reports, security documents and employees’ personal data, it was not clear whether any customer data was compromised.

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Update: Australia’s 2020 Cyber Security Strategy

By Cameron Abbott and Keely O’Dowd

The Australian Government is currently developing its next Cyber Security Strategy, which is scheduled for release in the coming months.

The Australian Government 2020 Cyber Security Strategy Industry Advisory Panel has released a report consisting of 60 recommendations to inform the 2020 Cyber Security Strategy. The Panel’s 60 recommendations are structured around five key pillars:

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Under attack: Lion suffers second cyberattack and the Federal Government warns of an active cyberattack on Australian organisations

By Cameron Abbott, Keely O’Dowd and Rebecca Gill

News reports have revealed that Lion Beer Australia has suffered a second cyberattack within a week of falling victim to a ransomware attack. While Lion continues to recover from the first cyberattack, it must now investigate, respond and recover from this second attack.

Today, Lion announced it had received reports of Lion document lists posted online in recent days. It is continuing to investigate if any data has been removed from its system. Lion has also advised relevant authorities and regulators of the first incident.

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A phishing pandemic – Part II

By Cameron Abbott, Rob Pulham, Michelle Aggromito and Rebecca Gill

In part 1 of this blog, we highlighted the increase in phishing scams in light of the global COVID-19 pandemic. In this part 2, we discuss some practical tips that organisations can implement to mitigate the heightened risks of falling prey to such scams.

So, where to begin? You may have seen a recently published alert on the K&L Gates Hub: Responding to COVID-19 series, which provides high level ideas and tips for organisations when implementing remote working procedures for their employees. In particular, organisations should consider implementing:

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A phishing pandemic – Part I

By Cameron Abbott, Michelle Aggromito and Rebecca Gill

It’s upsetting to report, but should come as no surprise, that scammers are seeking to take advantage of organisations during the COVID-19 pandemic.

The Australian Competition and Consumer Commission’s Scamwatch website reports that phishing attacks are on the rise, with scammers impersonating the World Health Organisation and other agencies. Scams include anything from offering victims a vaccine for COVID-19 to investment opportunities created by the pandemic.

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Don’t let coronavirus get your system infected

By Cameron Abbott and Allison Wallace

You’ve all likely seen various news reports and online posts about the coronavirus epidemic – you may have even received email alerts on how you can protect yourself from being infected.

It turns out cyber criminals are using our curiosity to bait us with fake documents purporting to inform us about coronavirus while actually infecting our systems with malware.

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Could your ERP system make you a victim of cybercrime?

By Cameron Abbott and Allison Wallace

We frequently blog here about incidents where companies, government agencies or public have suffered data or security breaches at the hands of hackers. They’re often incidents that come to light because they affect the public in some way – by shutting down hospitals, exposing sensitive personal information, or threatening government security. But what about hacks that, while not having wide-reaching public implications, go to the core of a business’ operations?

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Technology mightier than the Sword: US Military’s Secret Cyber Strike stifles Iranian Forces

By Cameron Abbott and Max Evans

Everyone knows the saying “the Pen is mightier than the sword”. The famous saying has been used for centuries to describe the ultimate power of words and communication over forms of violence. However, the rapid implementation and use of technology as a “combat” method doubts whether this saying is correct in a modern technological era, and begs the question as to whether technology is in fact mightier than the sword!

This dilemma is highlighted through the recent cyberstrike conducted by the United States. According to a Report by the Washington Post, in June of this year the Cyber Command of the US Military utilised a technology cyberstrike to target a significant Iranian database in the Persian Gulf. The relevant database was alleged to have been used by the IRGC, Iran’s elite paramilitary force, to damage oil takers and shipping traffic in the Persian Gulf. According to the Pentagon, the operation was in the works for weeks after Iran’s alleged attacks on two US tankers in the Gulf of Oman earlier in June, and following an attack by Iranian forces on an unmanned U.S. Surveillance drone hours earlier, the cyber-strike was immediately given the go-ahead.

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AI (Adverse Inferences): AI Lending Models may show unconscious bias, according to Report.

By Cameron Abbott and Max Evans

We live in an era where the adoption and use of Artificial Intelligence (AI) is at the forefront of business advancement and social progression. Facial recognition technology software is used or is being piloted to be used across a variety of government sectors, whilst voice recognition assistants are becoming the norm both in personal and business contexts. However, as we have blogged previously on, the AI ‘bandwagon’ inherently comes with legitimate concerns.

This is no different in the banking world. The use of AI-based phishing detection applications has strengthened cybersecurity safeguards for financial institutions, whilst the use of “Robo-Advisers” and voice and language processors has facilitated efficiency by increasing the pace of transactions and reducing service times. However, this appears to sound too good to be true, as according to a Report by CIO Drive, algorithmic lending models may show an unconscious bias.

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Interlopers in Things? IoT devices may be used as backdoors to your network

By Cameron Abbott and Karla Hodgson

This month Microsoft reported that its Threat Intelligence Center discovered that IoT (internet of things) devices – a VOIP phone, a printer and a video decoder – were used to gain access to corporate networks in April.

Microsoft have identified Strontium – also known as Fancy Bear or APT28 – as the culprit, a hacker group associated with the Russian government who appear to be targeting government, IT, military and defence, engineering, medical and education sectors. Strontium has been linked to the hacking of Hillary Clinton’s presidential election campaign and of the email accounts of researchers investigating the missile strike on MH17 and the Skripal poisonings. In the last 12 months alone Microsoft has delivered almost 1,400 notifications to those targeted or compromised by Strontium.

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