Hello and welcome to GlobalSign’s weekly wrap-up of the top headlines in cybersecurity. And perhaps even a few stories you hadn’t heard of!
First, early details leaked last week by the Wall Street Journal about a new task force to combat ransomware criminals were fully revealed this week in an 81-page report delivered to the Biden administration. The report outlines an international coalition focused on disrupting cybercriminal ransomware gangs by limiting their ability to get paid, as well as targeting the perpetrators (and the finances) behind these crimes.
Executives from some of the world’s most influential tech firms – i.e., Amazon, Microsoft, Cisco, etc. – and dozens of other companies are involved. They join the US Department of Justice (DOJ), Europol and the UK National Crime Agency in calling for an international coalition to combat ransomware criminals, and for a global network of ransomware investigation hubs.
Per Brian Krebs, some of the key recommendations include:
- Create a federal “cyber response and recovery fund” to help state and local governments or critical infrastructure companies respond to ransomware attacks.
- Require cryptocurrency exchanges to follow the same “know your customer” (KYC) and anti-money laundering rules as financial institutions, and aggressively targeting exchanges that do not.
- Have insurance companies measure and assert their aggregated ransomware losses and establish a common “war chest” subrogation fund “to evaluate and pursue strategies aimed at restitution, recovery, or civil asset seizures, on behalf of victims and in conjunction with law enforcement efforts.”
Scroll down to this week’s first featured article to read more about Krebs’ take on the new task force.
This is certainly the biggest story of the week. Fingers crossed the task force will meet its goals and put a deep dent in the plans of cybercriminals!
That’s a wrap for the week. Stick around to read all the highlighted stories, from a hack at Washington, D.C.’s police department, a breach at the world's largest online music marketplace, lessons from last summer’s damaging attack at Garmin and Cyberscoop’s very interesting look at what European police are doing to steer teenagers away from a life of hacking.
Wishing everyone a fun weekend!
Top Global Industry News
Krebs on Security (April 29, 2021) Task Force Seeks to Disrupt Ransomware Payments
"Some of the world’s top tech firms are backing a new industry task force focused on disrupting cybercriminal ransomware gangs by limiting their ability to get paid and targeting the individuals and finances of the organized thieves behind these crimes.
In a 81-page report delivered to the Biden administration this week, top executives from Amazon, Cisco, FireEye, McAfee, Microsoft and dozens of other firms joined the U.S. Department of Justice (DOJ), Europol and the U.K. National Crime Agency in calling for an international coalition to combat ransomware criminals, and for a global network of ransomware investigation hubs.
The Ransomware Task Force urged the White House to make finding, frustrating and apprehending ransomware crooks a priority within the U.S. intelligence community, and to designate the current scourge of digital extortion as a national security threat."
Intelligent CISO (April 27, 2021) One of the largest aviation IT companies in the world is victim of cyberattack
"SITA, one of the world’s largest air transport communications and IT vendors, has released a statement confirming that it was the victim of a cyberattack which led to passenger data stored on its servers to become compromised.
The incident took place on February 24, 2021, and the company immediately contacted the affected customers. The incident has had a knock-on effect for Singapore Airlines as the breach of the SITA PSS server has affected the data of some of its KrisFlyer and PPS members.
'We recognise that the COVID-19 pandemic has raised concerns about security threats and, at the same time, cybercriminals have become more sophisticated and active. This was a highly sophisticated attack,' said a SITA spokesperson."
NPR (April 27, 2021) D.C. Police Department Victim Of Apparent Ransomware Attack
"Potentially sensitive information from the Washington, D.C., police department was allegedly breached by a ransomware attack from a group seeking a payout.
A group called Babuk claimed to be behind the attack. On a post made on its website, the group threatened to release information pulled from the department's systems if they were not paid an undisclosed amount.
Screenshots of alleged arrest records and internal memos were posted on Babuk's website and re-shared online. Sensitive information was not revealed."
InfoSecurity (April 27, 2021) Online Music Marketplace Suffers Data Breach
"A data breach at the world's largest online music marketplace has exposed the personal details of high-profile musicians.
Information belonging to Bill Ward of Black Sabbath, Jimmy Chamberlin of the Smashing Pumpkins, and Alessandro Cortini of Nine Inch Nails was among the data exposed in the security incident at Reverb.com.
Millions of the retailer's records were discovered online in an unsecured Elasticsearch server by independent cybersecurity consultant and securitydiscovery.com owner Volodymyr 'Bob' Diachenko."
Security Week (April 26, 2021) Oilfield Services Company Gyrodata Discloses Data Breach
"Houston, Texas-based Gyrodata provides surveying and wireline services for oil and gas, mining, and civil engineering projects.
On February 21, the company discovered a piece of ransomware on its systems. An investigation showed that the attackers had access to its systems at least between January 16 and February 22, 2021.
The hackers appear to have gained access to servers storing information on current and former employees, including names, dates of birth, addresses, social security numbers, driver’s license numbers, passport numbers, W-2 tax forms, and health plan information."
Other Industry News
Like what you’re reading? Head to the Subscriber form in the sidebar to get insightful GlobalSign content delivered directly to your inbox.