15 Nov Security Breach – 15 Nov 2024
The AI revolution is here. Cybercriminals are all-in, leveraging advances in AI technology to mount more sophisticated cyberattacks at a faster pace than ever before. While advocates call it a game changer for detecting threats faster and more accurately, critics question if its potential is overhyped, given its current limitations and evolving cybercriminal tactics. As cybercriminals increasingly use AI technology for more sophisticated attacks, the question remains: Are defenders ready to step into a new AI-driven future? Cybercriminals haven’t hesitated to harness AI to enhance their schemes. The most popular uses of AI in cybercrime focus on exploiting automation, enhancing attack efficiency and evading detection. Understanding how threat actors are utilising AI can help defenders get a sense of the value of AI-enabled cybersecurity solutions.
As with any hot topic, industry professionals all have varying opinions on the expected impact of AI on cybersecurity. While there is a general positive outlook toward the role of AI in enhancing business security, there are still serious doubts. Almost one-third of business owners say they are uncertain about the impact AI may have on their company’s security. This split in perspectives highlights the need for more education and clarity around the benefits and limitations of AI in cybersecurity.
Recent Breaches
Australia – Goodline – Engineering Company
Exploit: Ransomware
Risk to Business: Moderate: The incident reportedly occurred on 17 September, according to Goodline executive manager Catherine Kennedy, and was the result of threat actors using company credentials to access the network. The cyber attack was claimed by the RansomHub threat group, which said that it had exfiltrated 600 gigabytes of data in the incident. Kennedy confirmed that 600 gigabytes of data had been exfiltrated but that the data stolen was back-end data and that at this stage of the investigation, there has been no sign of any personal data of employees or clients having been exfiltrated.
France – Schneider Electric – Energy
Exploit: Ransomware
Risk to Business: Extreme: This week’s oddest story is the third cyberattack of 2024 targeting Schneider Electric, carried out by the emerging HellCat ransomware group. On its dark web leak site, the group demanded a $125,000 ransom, taunting the French company by saying it could possibly be paid in baguettes (the group ultimately prefers Monero). HellCat claims to have obtained over 40 GB of data from Schneider’s JIRA platform, including projects, issues, plugins, and over 400,000 rows of user data.
Talk to a TCT team member today about implementing cyber security plan for your business.
Robert Brown
15/11/2024
Related Articles:
Do You Still Believe in These Common Tech Myths?
Data Security Trends to Prepare for in 2025