An affiliate of the LockBit ransomware gang has been sentenced to almost four years in jail after earlier pleading guilty to charges of cyber extortion and weapons charges. 34-year-old Mikhail Vasiliev, who has dual Russian and Canadian nationality, was arrested in 2022 as part of a multinational law enforcement investigation into LockBit that started in March 2020.

Protecting sensitive data and other assets requires an organization to be adaptable and stay informed on things like the digital landscape and threat trends. While some aspects of security are within an organization’s control, it can be extremely difficult to manage all of the risks and vulnerabilities that are likely to arise. Security configuration management (SCM) is one way to take control of many of the facets of cybersecurity that are often overlooked or difficult to handle.

Using security tools to monitor activities on IP based endpoints and the resulting changes that occur pose one of the most formidable challenges to security and regulatory compliance efforts, thanks to its potential to disrupt established security measures and protocols. Compliance frameworks, such as PCI DSS and NIST 800-53/SI-7, require organizations in every sector to maintain a consistent and secure environment to meet regulatory standards. Integrity is a foundational piece of this puzzle.

Historically, cyber-attacks were labor-intensive, meticulously planned, and needed extensive manual research. However, with the advent of AI, threat actors have harnessed their capabilities to orchestrate attacks with exceptional efficiency and potency. This technological shift enables them to execute more sophisticated, harder-to-detect attacks at scale.

If you have been optimistically daydreaming that losses attributed to cybercrime might have reduced in the last year, it's time to wake up. The FBI's latest annual Internet Crime Complaint Center (IC3) report has just been published and makes for some grim reading. According to the IC3 report, online fraud hit record losses in 2023, with the American public reporting US $12.5 billion, a 22% increase from the year before. However, this only counts reported crimes to the FBI.

In 2024, transformation is reshaping industries, and the financial sector stands at a crucial juncture. The Softcat Business Tech Priorities Report, a comprehensive survey encompassing over 4,000 customers across various sectors, sheds light on this transformation. Significantly, cybersecurity has emerged as the paramount concern for financial institutions for the second consecutive year.

In the intricate realm of cybersecurity, the relentless surge of cyber threats demands a constant reassessment of defensive strategies. Amidst this dynamic landscape, a subtle yet indispensable player takes center stage — Security Configuration Management (SCM). This blog embarks on an insightful journey into the critical role played by SCM in the ongoing battle against cyberattacks, shedding light on its ability to pinpoint and rectify system misconfigurations.

In today's expanding cyber threat landscape, infiltrating a system goes beyond unauthorized access or malware installation. To achieve their ultimate objectives, cybercriminals need to maintain an undetected presence in the system or network to control or extract data according to their needs. Command and Control attacks, also known as C&C or C2 attacks, create a covert link between the compromised system and a C2 server.

The financial services sector faces unprecedented cybersecurity challenges in today's digital age. With the industry being a prime target for cybercriminals, understanding and adhering to cybersecurity regulations has never been more crucial. This article delves into the labyrinth of cybersecurity regulations affecting financial services, underscoring their significance in safeguarding sensitive data and maintaining robust cyber defenses.