Libra Association Launched Amidst Defections, Congressional Scrutiny

Akshaya Asokan • October 15, 2019

The not-for-profit Libra Association, which would govern Facebook's new Libra cryptocurrency, launched Monday despite Visa, MasterCard and others dropping their participation. Meanwhile, Facebook CEO Mark Zuckerberg is scheduled to testify before Congress next week to address concerns about the project.

Cybercrime

Developers' Code Reuse Security Conundrum: Cut, Paste, Fail

Latest

Business Continuity Management / Disaster Recovery

Pitney Bowes Says Ransomware Behind System Outages

Jeremy Kirk • October 15, 2019

Pitney Bowes says it was infected by file-encrypting malware that has affected online accounts and mailing products but that client data doesn't appear to be at risk. The postage meter maker says "all options" are being considered for recovery, meaning that it could pay a ransom.

3rd Party Risk Management

Analysis: New ISO Privacy Standard

Suparna Goswami • October 15, 2019

What's the purpose of ISO 27701, the new privacy extension to the ISO 27001 information security management standard? Matthieu Grall, CISO and DPO at SodiFrance, a French IT services company, who participated in development of 27701, explains the standard and discusses "privacy by design" compliance issues.

Governance

Imperva's Breach Post-Mortem: API Key Left Exposed

Jeremy Kirk • October 14, 2019

Cybersecurity vendor Imperva's breach post-mortem should serve as a warning to all those using cloud services: One mistake can turn into a calamity. The company accidently left an AWS API key exposed to the internet; the key was then stolen and used to steal a sensitive customer database.

Cybercrime

Capital One Hacking Trial Delay Likely

Scott Ferguson • October 11, 2019

Defense and prosecution attorneys are asking for a delay in the trial of alleged Capital One hacker Paige A. Thompson, citing the overwhelming amount of digital evidence in the case and the ongoing forensics investigation. Prosecutors also expect to file additional charges.

Breach Notification

Hacked Off: Lawsuit Alleges CafePress Used Poor Security

Mathew J. Schwartz • October 11, 2019

Personalized product retailer CafePress has been hit with a lawsuit alleging that it failed to notify 23 million customers about a data breach in a timely manner or follow security best practices. The company was allegedly still using outdated SHA-1 to hash passwords, which can be easily cracked.

Account Takeover

Singapore Man Charged in Large-Scale Cryptomining Scheme

Apurva Venkat • October 11, 2019

A Singapore man allegedly ran a large-scale cryptocurrency mining scheme that involved using stolen identities to access Amazon and Google cloud computing resources, according to a 14-count U.S. Justice Department indictment.

3rd Party Risk Management

Analysis: Twitter's Phone Number Repurposing 'Mistake'

Nick Holland • October 11, 2019

The latest edition of the ISMG Security Report analyzes Twitter's repurposing of user phone numbers for targeted advertising. Plus: A discussion of 5G security issues and findings of the Internet Organized Crime Threat Assessment.

Business Email Compromise (BEC)

How Cybercriminals Continue to Innovate

Mathew J. Schwartz • October 10, 2019

Online attack threats continue to intensify, with criminals preferring ransomware, DDoS attacks and business email compromises, warns Europol, the EU's law enforcement intelligence agency. After numerous successful disruptions by police, criminals have responded by launching increasingly complex attacks.

Biometrics

Privacy: How Technology Is Outpacing Regulation

Suparna Goswami • October 10, 2019

To ensure privacy is protected, governments need to make sure standards and regulations keep pace with the latest technology developments, including facial recognition and other forms of artificial intelligence, says Steven Feldstein, an associate professor at Boise State University.

Incident & Breach Response

FBI: Cybercriminals Are Bypassing Multifactor Authentication

Akshaya Asokan • October 9, 2019

The FBI is warning banks, businesses and other organizations that cybercriminals are using social engineering and other technical techniques to circumvent multifactor authentication security protections.

Fraud Management & Cybercrime

Twitter Apologizes for Repurposing Phone Numbers

Jeremy Kirk • October 9, 2019

Twitter apologized on Tuesday for repurposing phone numbers provided by users for security features for use in targeted advertising, claiming the move was a mistake. Earlier, Facebook was reprimanded for a similar practice.

Governance