Security News
In measures floated in October 2022 and to be enacted by the end of 2023, Singapore's Monetary Authority will require operators to hold customer assets under a statutory trust segregated from their own assets. Crypto outfits are also barred from facilitating retail customer lending and staking - the term for locking up crypto assets for a set time to support blockchain validation.
Banking and financial services organizations are the targets of a new multi-stage adversary-in-the-middle phishing and business email compromise attack, Microsoft has revealed. "The attack originated from a compromised trusted vendor and transitioned into a series of AiTM attacks and follow-on BEC activity spanning multiple organizations," the tech giant disclosed in a Thursday report.
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A U.S. national has pleaded guilty in a Missouri court to operating a darknet carding site and selling financial information belonging to tens of thousands of victims in the country. Michael D. Mihalo, aka Dale Michael Mihalo Jr. and ggmccloud1, has been accused of setting up a carding site called Skynet Market that specialized in the trafficking of credit and debit card data.
In yet another instance of how threat actors are abusing Google Ads to serve malware, a threat actor has been observed leveraging the technique to deliver a new Windows-based financial trojan and information stealer called LOBSHOT. "LOBSHOT continues to collect victims while staying under the radar," Elastic Security Labs researcher Daniel Stepanic said in an analysis published last week. The American-Dutch company attributed the malware strain to a threat actor known as TA505 based on infrastructure historically connected to the group.
Resecurity has recently identified the STYX Innovation Marketplace, a new cybercriminal e-commerce platform with a specialized focus on financial fraud and money laundering. This platform is specifically designed to facilitate financial crime, providing cybercriminals with a range of services, including stolen financial data, credit card information, forged documents, money laundering services, victim reconnaissance 'lookups', and more.
The impact of identity fraud varies for organizations in the financial services industry, based on whether they belong to the banking or FinTech sector, according to Regula. When asked to evaluate the cost of the identity fraud they had experienced, the banking sector was found to be the most severely impacted, with a median financial burden of over $310,000.
A new dark web marketplace called STYX launched earlier this year and appears to be on its way to becoming a thriving hub for buying and selling illegal services or stolen data. However analysts at threat intelligence company Resecurity noticed mentions of STYX on the dark web since early 2022, when the founders were still building the escrow module.
Nexus malware is an Android banking trojan promoted via a malware-as-a-service model. In an underground cybercrime forum ad, the malware project is described as "Very new" and "Under continuous development." More messages from the Nexus author in one forum thread indicate the malware code has been created from scratch.
Australian loan giant Latitude Financial Services is warning customers that its data breach is much more significant than initially stated, taking the number of affected individuals from 328,000 to 14 million. Australian loan giant Latitude Financial Services has released an updated data breach notification warning customers that the breach is much more significant than initially stated, taking the number of affected individuals from 328,000 to 14 million.