News wrap on trending cyber-attacks

August 3, 2017

High-profile cybercrime such as data theft, ransomware and computer hacks seem to be occurring more frequently and with higher costs, but cloud computing may provide the security that companies are searching for, experts suggest. “Cloud computing improves IT security and security professionals need as much help as possible,” said Nick McQuire, vice president of enterprise research at CCS Insight.

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A new breed of Android malware is picking off mobile banking customers, particularly those in the UK and Germany, we’re told. The Svpeng software nasty has been around for four years, and its creator was caught and thrown in the clink in 2015. However, the malware keeps on evolving, thanks to other crooks trying their hand with the code.

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Netflix has identified denial of service threat to microservices architectures that it’s labelled “application DDOS”.
Traditional DDOS attacks flood networks with bogus traffic so that infrastructure runs out of resources to serve legitimate users. Netflix characterises an application DDOS attack as one in which attackers “focus on expensive API calls, using their complex interconnected relationships to cause the system to attack itself .”

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According to a new SANS survey, 40 percent of respondents rated malicious insiders (insiders who intentionally do harm) as the most damaging threat vector their companies faced. Furthermore, nearly half (49 percent) said they were in the process of developing a formal incident response plan with provisions to address insider threat. This further illustrates the urgency with which companies are moving to address this threat vector.

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