Gardaí have reported a sharp increase in the number of invoice redirect and CEO fraud-style attacks on Irish businesses in the last few months. “We are getting a couple of cases every week now”, according to Detective Superintendent Pat Lordan, who said that both small and large companies are being hit for amounts ranging from €10,000 into the millions.Read more
In a global sting, named Operation reWired, authorities in the US and around the world have arrested 281 individuals that were involved in a global Business Email Compromise (BEC) scam. The ring had been under investigation for months, during which they were found to have hijacked email accounts belonging to company executives, impersonated staff and ultimately tricked unsuspecting employees into wiring millions in funds into the group’s accounts.Read more
Every year, the number of phishing scams seems to be increasing, with the malware-ridden emails getting continually more sophisticated and convincing. The latest global phishing campaign purporting to be from international courier giants DHL has been tricking users into opening a fake PDF attachment – and subsequently unleashed a previously unseen piece of malware to wreak havoc on their PCs.Read more
Cyber criminals have always targeted users, finding it easier to trick unsuspecting employees than to bypass complex technical security measures – and this trend has been growing steadily the last few years. Identify fraud, where criminals impersonate someone else in order to steal their money or use their account to manipulate others, is now one of the most common types of cyber crime there is. Account takeover attacks, where criminals gain access to a user’s account and use it to send spam or phishing emails, is also on the rise, often allowing malicious emails to bypass email security filters.
Phishing remains one of the most common attack vectors for criminals – one study alarmingly found that 93% of phishing emails contained ransomware
New research from DataSolutions, an Irish IT solutions provider, has revealed that a majority (60%) of senior IT decision makers consider human error to be the greatest threat facing Irish businesses and organisations at the moment. This is consistent with results of similar surveys in other countries such as the US or UK, as cyber criminals evolve to target end-users and take advantage of improperly-trained staff instead of trying to bypass or hack complex technical security measures. The survey also revealed that 93% of respondents claim that they have a formal cyber security and defense strategy in place to help navigate today’s online threat environment, particularly in a post-GDPR world.