Black Basta is a relatively new family of ransomware, first discovered in April 2022. Although only active for the past couple of months, the Black Basta ransomware is thought to have already hit almost 50 organisations – first exfiltrating data from targeted companies, and then encrypting files on the firm’s computer systems. Victims have reportedly been hit in countries around the world including the United States, UK, India, Canada, Australia, New Zealand, and UAE.

Just when you thought that we couldn’t be any more integrated with (and dependent on) technology, the Covid pandemic swooped in to prove otherwise. The rise in the use of applications and devices to perform even basic functions pushed companies and end-users to keep pace. Of course, one group of people always seem to be ready: cybercriminals. Cyber attacks are steeply increasing, and attackers are cunning, always finding new ways to get what they want.

As we continue our review of the 12 Requirements of PCI DSS version 4.0, one has to stop and consider, is it possible to have a favorite section of a standard? After all, most guidance documents, as well as regulations are seen as tedious distractions from the importance of getting the job done. However, depending on a person’s position and function in an organization, it is possible to “geek out” on some of the information in these official papers.

Cloud computing is an effective solution for large and small companies across every industry. There has been rapid adoption due in large part to its accessibility, flexibility, and reliability. The cloud environment brings a significant amount of benefits, but at the same time, it can expose businesses to various alarming cybersecurity risks. A study conducted by Thales and 451 Research revealed that 40% of respondents have experienced a data breach within their cloud environments.

Ransomware has matured significantly over the previous decade or so. Initially thought to be a relatively basic virus that could be contained on a floppy disk, it can now damage global business infrastructures, stop healthcare systems dead in their tracks, mess with fuel supply networks, and disrupt transportation infrastructure. Its simplicity is what makes it so appealing to criminals. The attacks don’t have to be very sophisticated to cause significant harm and extort ransom payments.

Earlier this year, an industry report stated that 79% of businesses remain concerned about the security risks of an increasingly remote workforce. Cyberattacks are on the rise since the COVID-19 pandemic, in part because many organizations fail to put in place adequate cybersecurity measures and procedures. In addition, there is a worldwide shortage of cybersecurity professionals in every industry.

The UK’s National Health Service (NHS) has warned the public about a spate of fake messages, sent out as SMS text messages, fraudulently telling recipients that they have been exposed to the Omicron variant of COVID-19. In a tweet, the NHS said that it had seen reports of text messages that claimed to come from the NHS, telling recipients that they had been in close contact with someone who had a confirmed COVID-19 infection, and that they should order a testing kit.

In Part 1 of this series, we reviewed the first four sections of the new PCI standards. As we continue our examination of PCI DSS version 4.0, we will consider what organizations will need to do in order to successfully transition and satisfy this update.

Modern goods and services rely on a supply chain ecosystem, which are interconnected networks of manufacturers, software developers, and other service providers. This ecosystem provides cost savings, interoperability, quick innovation, product feature diversity, and the freedom to pick between rival providers. However, due to the many sources of components and software that often form a final product, supply chains carry inherent cybersecurity risks.

In 2022, phishing attacks have not only increased substantially, but they have also taken a new turn of events. According to the Agari and PhishLabs Quarterly Threat Trends & Intelligence report, phishing attacks are gradually being delivered through a wide range of online platforms.

According to IBM’s Cost of a Data Breach report In 2021, data breach costs rose from $3.86 million to $4.24 million, exhibiting the highest average total cost in the 17-year history of their report. A new report from the Department for Culture, Media, and Sport (DCMS) has revealed that data breaches have become more costly for medium and large businesses in the UK. The report shows how medium-sized and large firms lost an average of £19,400 in 2021.

Each year, CyberEdge publishes the Cyberthreat Defense Report (CDR). Aimed at IT security leaders, this comprehensive report outlines the threats, security issues, and industry concerns that are most pressing. Information summarized in the CDR is gathered through surveys conducted in 17 countries and 19 industries. Respondents are IT decision-makers in organizations with at least 500 employees.

Nearly a year ago, journalist Martin Banks codified “Five Laws of Cybersecurity”. Cybersecurity is a complicated field, and any way to simplify its many facets into short, easy-to-remember maxims is always welcome. The five laws are a very good start towards developing a robust security program. The laws are: Of course, compliance with real rules does not necessarily equal security, but these general cybersecurity “laws” are a useful reference.

Law enforcement agencies around the world appear to have scored a major victory in the fight against fraudsters, in an operation that seized tens of millions of dollars and seen more than 2000 people arrested. Operation “First Light 2022”, running for two months from March 8 2002 until May 8 2022, saw 76 countries clamp down on organised crime rings behind a variety of scams, seizing criminal assets, and providing new investigative leads around the world.

Grooming techniques used in various frauds are getting more common and more elaborate. Fraudsters are coming up with narratives that involve complicated lies and may have different stages, depending on the type of fraud. Often, different actors are brought into the story. These actors also lie to the victim, in order to support the narrative. The purpose of expanding the fraud in this way is to groom the victim to dismiss their doubts or concerns and comply with requests.

The Payment Card Industry Security Standards Council has released its first update to their Data Security Standard (PCI DSS) since 2018. The new standard, version 4.0, is set to generally go into effect by 2024, but there are suggested updates that are not going to be required until a year after that. This, of course, creates a couple of problems for those who want to phase in the new standard.

Sophos Labs recently released its annual global study, State of Ransomware 2022, which covers real-world ransomware experiences in 2021, their financial and operational impact on organizations, as well as the role of cyber insurance in cyber defense. The report, which surveyed 5,600 IT professionals in mid-sized organizations across 31 countries, shows that ransomware attacks are increasing and becoming more sophisticated.

Working in the Electric Utility sector of critical infrastructure gives a person a very unique perspective on how many of the pieces of the puzzle fit together to provide uninterrupted services to a broad population. My personal experience as a software engineer in the electrical industry introduced me to the nuances that the average person doesn’t consider when they flip on a light switch. When I moved into the cybersecurity space, an entirely new realm was opened up.

More than a third of organizations suffered a serious cloud security incident in 2021. According to a survey of 300 cloud professionals covered by BetaNews, 36% of those respondents said that their organizations had suffered a severe cloud security data leak or breach in the past 12 months. Looking forward, eight in 10 survey participants said they were worried that they were vulnerable to a data breach related to a cloud misconfiguration.

My time at NERC had me involved with quite a few projects over my seven-year career there. I was involved with CIP compliance audits, investigations, auditor training, and many advisory sessions. Typically, I was advising entities across North America on different tactics, techniques, and insight from best practices I have seen. I wanted to share a few of the dos and don’ts during my experience out in the field.

Cybersecurity has, since its inception, been a corporate-based problem. Whether it is a public, or private corporation, these entities were the primary targets of most cybercrime. In recent years, the industrial sector has increasingly become the target of attack for malicious actors. The reasons include newly internet-connected devices that were once air-gapped, and the immaturity of cybersecurity in many of these plants.

Apple says that it protected many millions of users from being defrauded to the tune of nearly $1.5 billion dollars in the last year, by policing its official App Store. According to a newly published report by Apple, over 1.6 million risky and untrustworthy apps and app updates were stopped in their tracks due to the company’s fraud prevention analysis.

There has been a lot of talk recently about cyber resilience. There is no doubt that the ability to bounce back from a security event is important, however, all of the resiliency banter seems to be happening at the peril of sound risk management processes. It is safe to say that the path to resilience is paved with risk management.

Recall the last time that you stood on the shore, enjoying the briny breeze that gently caressed your skin, and the sounds and smells of the sea. You may have noticed in the distance a large sailing vessel. Have you ever considered all the moving parts that contribute to these “floating cities”? Beyond the logistics of setting out to sea, a ship contains an impressive array of communication devices and capabilities.

Cybersecurity awareness, protection, and prevention is all-encompassing. In addition to implementing the right tools and resources, and hiring skilled professionals with the right cybersecurity education and experience, organizations should be aware of the latest CVEs.