09 Aug Security Breach – 9 Aug 2024
While many facets of cybersecurity are constantly growing and evolving, one bedrock fact seems destined to remain true: phishing is the top threat vector for cyberattacks. To combat this growing threat, businesses must bolster their defenses against phishing and the email-based threats it brings in its wake. It’s important to implement an AI-driven antiphishing solution as it is a smart and cost-effective way to strengthen email security, protect data, reduce costs and enhance overall cybersecurity.
The rise of artificial intelligence (AI) has given bad actors easy access to tools that enable them to craft hard-to-detect phishing messages without the usual red flags and made it easy for bad actors to distribute those malicious messages at scale. An antiphishing solution is an essential component of email security because phishing attacks remain one of the most prevalent and effective methods cybercriminals use to breach organisations.
Recent Breaches
Australia – McDowall Affleck – Engineering Firm
Exploit: Hacking
Risk to Business: Moderate: McDowall Affleck, an Australian engineering firm specialising in designing storage tanks and pipelines, has reported a cyber incident after the RansomHub ransomware group claimed responsibility. RansomHub alleges to have accessed 470 GB of internal data, including critical documents, insurance records, and personal information. The company has notified the Australian Cyber Security Centre and regional police and is cooperating with authorities.
India – C-Edge Technologies – Financial Services
Exploit: Hacking
Risk to Business: Severe: C-Edge Technologies: Financial Services C-Edge Technologies, a tech service provider for banks, suffered a ransomware attack, leading to its temporary isolation from the NPCI’s retail payment systems. This disruption caused nearly 300 small Indian banks to shut down temporarily. The issue, reported on July 29, impacted cooperative and regional rural banks, affecting about 0.5% of the country’s payment systems. The connection with C-Edge was restored on August 1.
Talk to a TCT team member today about implementing cyber security plan for your business.
Robert Brown
9/08/2024
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