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Weekly Cyber Security News

Ransomware a continued threat to business, report warns

ransomwareBusinesses are increasingly becoming the most popular targets for ransomware, which remains a top cyber threat around the world, especially in the US, a report reveals.

Business ransomware detections increased by 365% in the past year, dominated by Ryuk and Phobos which increased 88% and 940% respectively, a report on cyber crime trends reveals.

GandCrab and Rapid ransomware attacks on businesses also increased in the past year, with Rapid up 319% and GandCrab up just 5%, showing a slowdown in growth.

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AT&T employees took bribes to plant malware on the company’s network

DOJ charges Pakistani man with bribing AT&T employees more than $1 million to install malware on the company’s network, unlock more than 2 million devices.

AT&T employees took bribes to unlock millions of smartphones, and to install malware and unauthorized hardware on the company’s network, the Department of Justice said yesterday.

These details come from a DOJ case opened against Muhammad Fahd, a 34-year-old man from Pakistan, and his co-conspirator, Ghulam Jiwani, believed to be deceased.

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Over 50% of Enterprises Are Failing on Cloud Security

cloud-securityOver half of organizations are struggling to protect their workloads, claiming the maturity of their security posture can’t keep up with the rapid pace of cloud adoption, according to Symantec.

The security giant polled 1250 IT decision-makers in 11 countries worldwide to compile its 2019 Cloud Security Threat Report.

It revealed that while 53% of enterprise workloads have now been migrated to the cloud, a similar percentage of organizations (54%) are struggling to keep pace with the expansion of cloud apps.

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Looking for answers at Black Hat 2019: 5 important cybersecurity issues

As Black Hat 2019 begins, the cybersecurity topics top of mind include network security platforms, threat detection/response services, new cloud security strategies, and clarification around security analytics.

Judging by last week’s Capital One breach and Equifax settlement, cybersecurity remains a topical, if not ugly, subject. The timing couldn’t be better for these unfortunate events. Why? Because the cybersecurity community gets together this week in Las Vegas for Black Hat and DEF CON to discuss how to better deal with security vulnerabilities and improve threat prevention, detection, and response.

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Huawei ban: Full timeline on how and why its phones are under fire

Here’s a breakdown of the controversial Chinese telecom and phone maker’s saga so far.

Huawei is making some of the biggest waves in the wireless industry right now. It’s the world’s No. 1 telecom supplier and No. 2 phone manufacturer. Despite this, it’s a pariah in several countries, including the US, to the point that the FBI reportedly set up a sting at CES 2019.

Over the last few months, there’s been an upswing in scrutiny of Huawei, with a number of countries banning the use of its networking equipment. That’s why its phones are virtually invisible in the US despite its massive presence around the world.

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African bank foils suspected North Korean cyber attack

An African bank is among the financial institutions to be targeted by North Korea’s multi-billion dollar cyber theft campaign to support its weapons programmes.

An unnamed African financial institution is believed to have been on North Korea’s hit list after Barac, a London-based cyber security startup, identified and foiled an attempted cyber heist.

North Korea is reported to have stolen an estimated $2bn for its weapons programmes through cyber attacks targeting banks and cryptocurrency exchanges.

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