Social Engineering. Related to phishing, but more sophisticated, is social engineering. Here, instead of pursuing targets over digital channels, the attacker appeals directly to the person at the other end, via a phone call or face-to-face, using psychological tricks and intimidation.
The famous “Nigerian Prince” email is an example of “spear-phishing” – an email-based social engineering attack intended to open up a direct channel of communication to an individual, before using traditional con-artist tricks to gain access to money or sensitive information.
Today, attackers are getting more sophisticated and targeted – for instance, a target might receive an email or a phone call from someone pretending to be a senior executive demanding valuable account information.
As many as 60% of companies were affected by social engineering attacks in 2016. And recently, even the White House fell victim to an email scam.
Read more at: https://www.cfoinnovation.com/story/13780/malware-phishing-finance-professional%E2%80%99s-guide-cyber-crime
Chennai: WannaCry or WannaCrypt uses an exploit from National Security Agency (NSA) that was leaked by a group called Shadow Brokers. It leaked a trove of exploits. Criminals propagated WannaCry worm and ransomware hybrid using one of the exploits.
If any group uses those exploits to make more ransomware worms, it could have disastrous effects around the world.
Q People say that the effect in India has been minimal compared the rest of the world. Why is it so?
Reasons could be many. India is not 24/7 connected like the UK or the US. India still uses old Operating Systems (OS) like Windows XP, which are easily affected by WannaCry, but it hit networks in the morning time of UK. UK and Russia – which were most hit by the worm, started working on solutions for taking down the ransomware. The Internet Service Providers (ISPs) across the world started putting
Read more at: http://www.deccanchronicle.com/nation/current-affairs/210517/banking-finance-sector-not-safe-from-cyber-attacks-expert.html
Over 80pc of financial services firms plan to pump cash into cybersecurity this year, almost double that of last year as fears over cyber attacks swell.
Corporate adviser Duff Phelps, which analysed 200 executives in Europe, Hong Kong and the US, said 86pc of financial services firms intend to spend more time and money on cybersecurity this year.
That’s a significant increase on last year, when less than 60pc said they planned to do so, the company said.
The jump suggests that financial firms are waking up to the global crackdown on cybersecurity, with two thirds of respondents saying that they expect cybersecurity to be a priority for regulators this year compared to just 19pc a year earlier.
Jason Elmer, Duff Phelps’ managing director for compliance and regulatory consulting, said that 2017 will be a “watershed year for cybersecurity regulation” following a string of high-profile attacks, upcoming regulations and increasing pressure from investors.
Protecting companies from cyber attacks has become a major focus in the UK, with Chancellor Philip Hammond announcing a five-year Read more at: http://www.telegraph.co.uk/business/2017/04/04/finance-firms-spend-security-concern-cyber-crime-soars/