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Over 20 banks in the United States and Canada have been attacked by banking Trojan, GozNym. Made by combining source codes from Nymaim and Gozi malware, the new hybrid has improved capabilities, using exploit kits and payloads to steal user data and credentials. Around $4 million have been lost so far between business banks, credit unions, e-commerce, retail banks, and other financial institutions. Read the full article for more information on this new malware.
2. Europe's New Privacy Safeguards Are Finally Approved, Must Invade EU Nations By 2018 by John Leydon
After 4 years of debates and amendments, the European Parliament has ratified the General Data Protection Regulation (GDPR) legislation. Companies have until May 4th, 2018 to adopt all GDPR measures, which include new accountability obligations and restrictions on international data flows. Non-compliance penalties will be tougher as the GDPR will force companies to be more transparent to consumers about data breaches. Businesses should begin prepping for the shift now. For more information on the effects GDPR will have on business operations in Europe, head over to The Register.
A Federal Deposit Insurance Corp. (FDIC) employee left the agency with sensitive data for 44,000 FDIC customers on his/her personal storage device. Apparently it was done ”inadvertently and without malicious intent”, but a security breach from such a simple mistake raises many concerns. Though no sensitive information has been compromised, Congress has gotten involved, as the breach is considered to be a major incident under 2014’s Federal Information Security Modernization Act. Read more about the FDIC breach with the full article.
The week kicked off with the news that security researchers had cracked the encryption method used by Petya, an advanced ransomware strain that utilized full disk encryption to render victims’ devices and data useless unless a ransom was paid. Petya is different from many ransomware strains in that it encrypts an infected computer’s master file tablet (MFT) instead of encrypting its actual files. This method was highly successful in past Petya campaigns until a researcher who uses the “leostone” alias developed a way to crack the MFT encryption key and restore an infected system. For more on this method for defeating Petya, read the article.
Ransomware continued to make headlines this week; while the takedown of Petya was a win for the security community, the development of what many are calling the “cryptoworm” could be a cause for concern in the near future. According to research from Cisco Talos, the recently-discovered Samsam ransomware is being updated to incorporate self-propagation techniques similar to those used by earlier computer worms Conficker and SQL Slammer. By doing so, attackers can broaden the scope of Samsam campaigns; while Samsam currently relies on phishing emails or exploit kits to spread, these updates would allow the ransomware to spread laterally across networks, infecting more devices and increasing the chances of reaching high-value targets. Read the full article for more on the development of cryptoworms.