Content by Mathew J. Schwartz

Invoice and CEO Scams Dominate Fraud Impacting Businesses

Mathew J. Schwartz  •  May 29, 2023

Losses to fraud reported by Britain's financial services sector exceeded $1.5 billion in 2022, declining by 8% from 2021, says trade association UK Finance. About 40% of losses tied to authorized push payment fraud, in which victims get tricked into transferring funds to attackers.

Sports Warehouse Fined $300,000 Over Payment Card Data Theft

Mathew J. Schwartz  •  May 29, 2023

Online sports retailer Sports Warehouse has agreed overhaul its security program and pay a $300,000 fine to New York State after hackers stole 20 years' worth of payment card data and customer information the company was storing in plaintext on its e-commerce server.

Capita Hack Fallout: Regulator Sees Breach Reports Surge

Mathew J. Schwartz  •  May 26, 2023

Britain's privacy watchdog has seen a surge in data breach reports from outsourcing giant Capita's customers tied to two incidents: a March hack attack by a ransomware group against Capita and one of the company's Amazon Web Service buckets being left unsecured for six years.

Mass Exploitation of Zyxel Network Appliances Underway

Mathew J. Schwartz  •  May 25, 2023

Versions of the Mirai botnet are targeting a vulnerability present in numerous Zyxel network devices. Zyxel patched the vulnerability in April but it's not clear how many users have applied the fix. Security experts warn the flaw appears to be exploited at a massive scale.

Capita Issued Erroneous Breach Details, Officials Report

Mathew J. Schwartz  •  May 24, 2023

Breach notifications from British outsourcing giant Capita mount amid signs the multibillion-pound company doesn't have a firm grip on how much data it exposed. For a company that trumpets its ability to "achieve better outcomes," Capita's inability to grasp the impact of its breaches is ironic.

IT Worker Admits Piggybacking on Hacker's Extortion Attempt

Mathew J. Schwartz  •  May 23, 2023

An IT security analyst has confessed to trying to blackmail his employer by altering ransom notes sent from a hacker to a board member and changing the cryptocurrency payment address to one he controlled. After his employer detected the unusual activity, U.K. police traced it back to the worker.

Android Fingerprint Biometrics Fall to 'BrutePrint' Attack

Mathew J. Schwartz  •  May 22, 2023

Security researchers have demonstrated a practical attack that can be used to defeat biometric fingerprint checks and log into a target's Android - but not Apple - smartphone. Dubbed "BrutePrint," the brute force attack is inexpensive and practical to deploy at a large scale.

Ukraine's Cyber Defense Success: Top Takeaways

Mathew J. Schwartz  •  May 18, 2023

Fifteen months after Russia intensified its illegal invasion of Ukraine, experts say top cyber defense lessons policymakers and defenders should apply include focusing on resilience. Building for resilience acknowledges the inevitability of ongoing attacks.

Royal Ransomware Group Builds Its Own Malware Loader

Mathew J. Schwartz  •  May 17, 2023

The Royal ransomware group, which spun off from Conti in early 2022, is refining its downloader malware using tactics and techniques that appear to draw directly from other post-Conti groups, as well as working closely with trusted former associates of Conti, REvil and Hive, researchers say.

Capita Data Breach Affects Britain's Largest Pension Fund

Mathew J. Schwartz  •  May 16, 2023

Fallout from the March hack of Capita and accompanying data breach continues to mount. While the outsourcing giant initially reported no signs of data exfiltration, multiple customers - including Britain's largest pension fund and potentially hundreds more - now say personal data is indeed at risk.

Info-Stealing Malware Populates 'Cloud of Logs' Offerings

Mathew J. Schwartz  •  May 15, 2023

Cybercrime watchers continue to see prolific use of information-stealing malware such as Raccoon and Vidar, which are being used to populate stolen digital identity listings at markets such as Genesis, RussianMarket and TwoEasy, as well as via Telegram channels offering "clouds of logs."

Elementary Data Breach Questions Remain, My Dear Capita

Mathew J. Schwartz  •  May 11, 2023

In the annals of attempting to downplay the impact of a data breach, here's a new one: British outsourcing giant Capita says the hackers who hit it - steling data pertaining to customers, suppliers and employees - accessed "less than 0.1% of its server estate."

Moving Beyond Compliance for Third-Party Security

Mathew J. Schwartz  •  May 10, 2023

Attacks like Kaseya and SolarWinds have highlighted the supply chain risks and demonstrated how securing the supply chain can no longer just be considered a compliance function. It has evolved into a risk management function, said Fred Kneip, chief executive officer at CyberGRX.

Feds Dismember Russia's 'Snake' Cyberespionage Operation

Mathew J. Schwartz  •  May 9, 2023

Federal officials say a global operation has disrupted Snake, the Russian government's "foremost cyberespionage tool," wielded by its Turla nation-state hacking group. The sophisticated malware has been tied to the theft of secret and classified information from numerous governments and businesses.

John Chambers: Navigating Through Cybersecurity Volatility

Mathew J. Schwartz  •  May 9, 2023

The cybersecurity industry is undergoing profound and rapid change, said John Chambers, the visionary former CEO of Cisco Systems who has turned venture capitalist and predicts the market will soon demand an outcome-focused architecture - not products - to underpin next-generation tech.