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Cyber Security News
Pymnts
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Chief Risk Officers Suit Up for Digital Duty
- The role and impact of the chief risk officer (CRO) is evolving dramatically as financial services become more interconnected and technology-driven.
- CROs are now responsible for quickly identifying and managing risks in a complex environment, redefined by the digitization of business processes and money movement.
- CROs are expected to lead cyber defense efforts, address third-party risk management, and utilize governance, risk, and compliance (GRC) tools for streamlined risk management.
- The CRO's role also expands to becoming core strategists, working alongside CEOs and CFOs to assess risks in real-time and challenge stakeholders to think critically about new investments and initiatives.
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Pymnts
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How Simplifying Transactions Can Translate Into Meaningful Customer Interactions
- Simplifying payments and offering real-time solutions can enhance customer interactions and strengthen client relationships.
- Ingo Payments is focused on building a future where transactions are transformed into valuable relationships.
- They have developed the Modern Money Stack, an embedded finance platform that simplifies the movement of money and provides flexibility for account issuers and holders.
- The Modern Money Stack offers agility through a unified platform and ensures security and compliance to protect customers and business relationships.
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The Fintech Times
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Vodafone Business Publishes UK Gov Recommendations to Counter Rise of AI-Phishing Attacks
- Vodafone Business has published recommendations for the UK Government to counter the rise of AI-phishing attacks.
- Vodafone Business research shows that 98% of businesses feel unprepared to handle AI-driven phishing attacks.
- The recommendations include incentivizing cyber security adoption, launching a 'Cyber Safe' PR campaign, enhancing cyber security skills, and expanding Cyber Resilience Centres.
- Vodafone Business urges businesses to adopt a proactive, multi-layered approach to cybersecurity.
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Cybersafe
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Interpol busts African Cybercrime
- An Interpol-led operation called Serengeti has resulted in the arrest of 1,006 cybercrime suspects across 19 African countries.
- 134,089 malicious infrastructures and networks were taken down as part of the operation.
- The operation targeted cybercriminals involved in ransomware, business email compromise, digital extortion, and online scams.
- At least 35,224 identified victims lost nearly $193 million, and Operation Serengeti recovered around $44 million.
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Securityaffairs
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Russian group RomCom exploited Firefox and Tor Browser zero-days to target attacks Europe and North America
- The Russian RomCom group exploited Firefox and Tor Browser zero-day vulnerabilities in attacks on users in Europe and North America.
- The first zero-day, tracked as CVE-2024-9680, is a use-after-free issue in Firefox Animation Timelines.
- The second zero-day, CVE-2024-49039, is a Windows Task Scheduler privilege escalation flaw.
- RomCom used the vulnerabilities to deploy a backdoor on victims' systems through a fake website.
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Tech Radar
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AI could save the public sector billions — if it is willing to open up
- Generative AI could save the public sector up to £38bn over the next 5 years.
- More than half of public sector jobs are likely to be ‘augmented’ in some way by AI adoption.
- Only 12% of public administrators say they have significantly deployed AI tools.
- The public sector could unlock an extra 3.7 million GP appointments, 160,000 police officers, and a 16% increase in student to teacher ratio by letting generative AI automate administrative work.
- Over a third of daily tasks in the public sector could be performed by generative AI.
- The report rightly points out many public sector organizations are under huge pressure.
- AI enhancing public sector could free up 8.3% of their budget for re-investment into our public services.
- 56% of public sector jobs are likely to be ‘augmented’ in some way by AI adoption.
- Early stages of adoption: Workers are uncertain about the security, legal liabilities and costs of AI tools.
- An overhaul of government IT systems is needed to efficiently adopt AI.
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Cybersecurity-Insiders
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How to Defend Against Thanksgiving and Black Friday Online Cyber Attacks
- The holiday shopping season is a prime opportunity for cybercriminals to launch various online attacks.
- Multi-Factor Authentication (MFA) provides extra protection by requiring users to provide at least two forms of verification.
- Consumers and businesses should implement a strong password policy to prevent credential stuffing attacks.
- Phishing attacks are common during high-traffic shopping periods like Black Friday and Thanksgiving.
- Securing the website with HTTPS and SSL encryption helps protect sensitive data like credit card information.
- Regular software updates are crucial to maintaining a secure online environment.
- Retailers and e-commerce businesses should set up fraud detection and prevention systems to identify suspicious transactions.
- Distributed Denial of Service (DDoS) attacks are common during busy shopping days.
- Educating both employees and customers about potential cyber threats is a crucial step in preventing cyber attacks.
- Following these defensive measures can reduce the risk and enjoy a safer holiday shopping experience.
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Tech Radar
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UK invites allies to combat the ‘new AI arms race’ with security research lab
- The UK government has announced the establishment of the Laboratory for AI Security Research (LASR) to combat the 'new AI arms race'.
- The lab aims to improve the UK's cyber resilience and collaborate with experts from universities, intelligence agencies, and private industry.
- The laboratory will assess the impact of AI on national security and develop effective cyber defense tools.
- The UK government has allocated £8 million of initial funding for LASR and seeks additional investment and collaboration from industry.
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Medium
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Forgot My Privacy Password
- Forgetting your privacy password is like losing the key to a treasure chest filled with your secrets and valuables.
- The first rule when you realize you’ve forgotten your privacy password is to remain calm.
- Recovery methods for forgotten passwords include using your email, phone number, or answering security questions.
- Platforms like SavePass.co offer secure password management to help prevent forgetting passwords.
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Medium
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NordVPN connectivity review
- NordVPN is an online security solution designed to protect your privacy and security, with features aimed at keeping you safe when browsing the internet.
- There are several standout features available for users with NordVPN, including easy installation, comprehensive security measures, and the ability to access your favorite content seamlessly. Additionally, one account can protect up to ten devices simultaneously.
- The Black Friday deal available for NordVPN is impressive, offering up to 74% off, with a monthly payment dropping to $2.99/month. Additionally, users can test the waters with a 30-day money-back guarantee.
- While NordVPN has gained significant praise from users across the globe, it's essential to consider some of the challenges that come with choosing this provider, such as inconsistent speed based on location and a bit of a learning curve when exploring all the features available.
- However, NordVPN stays ahead of the curve by routinely implementing new features and updating its security measures, making it a top choice for those looking for unparalleled online privacy and safety.
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Dev
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OAuth2, JWT, and JWKS: Using Amazon Cognito as IDP
- OAuth2 protocol defined how inter-connected applications should communicate with each other without compromising the security of the transmitted data ensuring its authenticity.
- Using JWT tokens and validating with JWKS to implement OAuth2 protocol securely.
- Bearer Token is the access token that can be used to grant access to the APIs via Header. JWT is the most widely adopted implementation format but, there is no defined standard for it in OAuth2 protocol.
- JWT token standard format allows it to carry user claims along with access authorization.
- JWKS plays an important role in public key management in case of JWT usage in OAuth2 protocol for fetching JSON containing the collection of public keys.
- AWS Cognito is an Identity Provider that manages identity and access for user data storage, validation, and authentication purposes.
- The article also provides a demo on how we can integrate Cognito using AWS SDK for user authentication and token validation against JWKS.
- The tutorial is intended for beginners to get them familiar with OAuth2 protocol, JWT, and JWKS concepts and their functions in secure application communication.
- The tutorial also provides tips and guidelines to follow for securing user data and avoiding malicious attacks or fraud within applications.
- References to the official documentation are included to learn more about AWS Cognito and other related topics.
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Medium
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Phone Off? You’re Still Being Tracked. Here’s How to Stop It.
- Digital privacy experts warn of concerns for women in Texas seeking abortions, as internet search histories and reproductive health data can reveal a person's intent to get an abortion.
- Tips to protect privacy include turning off location services, preventing apps from collecting location data, using VPNs to mask location, and turning off cell connections when possible.
- Faraday bags, made of conductive metallic fabric, can block signals and protect devices from shaking hands with Wi-Fi hotspots, cellular towers, RFID readers, and Bluetooth beacons.
- Texas' abortion bounty law bans abortions after six weeks, allows citizens to file lawsuits against abortion aiders, and awards plaintiffs at least $10,000 in damages.
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Siliconangle
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CrowdStrike shares fall 5% after fourth-quarter outlook misses expectations
- Shares in CrowdStrike Holdings Inc. fell nearly 5% in late trading today after the cybersecurity company reported solid fiscal 2025 third-quarter results but fell short of expectations with its fourth-quarter outlook.
- For the quarter that ended on Oct. 31, CrowdStrike reported adjusted earnings per share of 93 cents, up from 82 cents in the same quarter of the previous year, on revenue of $1.02 billion, up 29% year-over-year. Both were beats, as analysts had expected adjusted earnings per share of 81 cents on revenue of $982.81 million.
- For its fiscal fourth quarter, CrowdStrike expects adjusted earnings per share of 84 to 86 cents on revenue of $1.029 billion to $1.035 billion. For the full year, the company expects adjusted earnings of $3.74 per share on revenue of $3.924 billion to $3.93 billion.
- The fourth quarter outlook came in below an expected 87 cents per share, hence the decline in CrowdStrike’s after-hours share price.
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Pymnts
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Securing the Gig Economy: Combatting API Vulnerabilities and AI-Driven Threats
- The success of the gig economy relies on its digital ecosystem, especially APIs.
- APIs are susceptible to advanced threats like scraping, account takeovers, and fraud driven by artificial intelligence.
- To address these vulnerabilities, businesses must implement API security strategies to detect and block AI-driven attacks.
- Additionally, the gig economy requires enhanced digital protections against scraping and the authenticity of users and content.
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Medium
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Supreme Artificial Intelligence: Shaping the Future of Humanity
- Supreme AI refers to systems that possess general intelligence far beyond human capabilities.
- The Promise and Potential: Supreme AI could solve complex global issues, revolutionize industries, and continuously learn and adapt.
- The Challenges Ahead: Ensuring alignment with human values, economic disruption, and existential risks.
- Embracing the Future: Collaboration among technologists, ethicists, and policymakers to harness the power of Supreme AI for the greater good.
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