1-888-643-2217 Email ABEX
Keeping you updated

Tag Archives: Cyber Crime

Hackers can tap USB devices

Source: mobile.reuters.com

USB Flash DriveUSB devices such as keyboards, thumb-drives and mice can be used to hack into personal computers in a potential new class of attacks that evade all known security protections, a top computer researcher revealed on Thursday.

Karsten Nohl, chief scientist with Berlin’s SR Labs, noted that hackers could load malicious software onto tiny, low-cost computer chips that control functions of USB devices but which have no built-in shields against tampering with their code.

“You cannot tell where the virus came from. It is almost like a magic trick,” said Nohl, whose research firm is known for uncovering major flaws in mobile phone technology.

The finding shows that bugs in software used to run tiny electronics components that are invisible to the average computer user can be extremely dangerous when hackers figure out how to exploit them. Security researchers have increasingly turned their attention to uncovering such flaws.

Nohl said his firm has performed attacks by writing malicious code onto USB control chips used in thumb drives and smartphones. Once the USB device is attached to a computer, the malicious software can log keystrokes, spy on communications and destroy data, he said.

Computers do not detect the infections when tainted devices are inserted because anti-virus programs are only designed to scan for software written onto memory and do not scan the “firmware” that controls the functioning of those devices, he said.

Nohl and Jakob Lell, a security researcher at SR Labs, will describe their attack method at next week’s Black Hat hacking conference in Las Vegas, in a presentation titled: “Bad USB – On Accessories that Turn Evil.”

Thousands of security professionals gather at the annual conference to hear about the latest hacking techniques, including ones that threaten the security of business computers, consumer electronics and critical infrastructure.

Nohl said he would not be surprised if intelligence agencies, like the National Security Agency, have already figured out how to launch attacks using this technique.

Last year, he presented research at Black Hat on breakthrough methods for remotely attacking SIM cards on mobile phones. In December, documents leaked by former NSA contractor Edward Snowden demonstrated that the U.S. spy agency was using a similar technique for surveillance, which it called “Monkey Calendar.”

An NSA spokeswoman declined to comment.

SR Labs tested the technique by infecting controller chips made by major Taiwanese manufacturer, Phison Electronics Corp, and placing them in USB memory drives and smartphones running Google Inc’s Android operating system.

Alex Chiu, an attorney with Phison, told Reuters via email that Nohl had contacted the company about his research in May.

“Mr. Nohl did not offer detailed analysis together with work product to prove his finding,” Chiu said. “Phison does not have ground to comment (on) his allegation.”

Chiu said that “from Phison’s reasonable knowledge and belief, it is hardly possible to rewrite Phison’s controller firmware without accessing our confidential information.”

Similar chips are made by Silicon Motion Technology Corp and Alcor Micro Corp. Nohl said his firm did not test devices with chips from those manufacturers.

Google did not respond to requests for comment. Officials with Silicon Motion and Alcor Micro could not immediately be reached.

Nohl believed hackers would have a “high chance” of corrupting other kinds of controller chips besides those made by Phison, because their manufacturers are not required to secure software. He said those chips, once infected, could be used to infect mice, keyboards and other devices that connect via USB.

“The sky is the limit. You can do anything at all,” he said.

In his tests, Nohl said he was able to gain remote access to a computer by having the USB instruct the computer to download a malicious program with instructions that the PC believed were coming from a keyboard. He was also able to change what are known as DNS network settings on a computer, essentially instructing the machine to route Internet traffic through malicious servers.

Once a computer is infected, it could be programmed to infect all USB devices that are subsequently attached to it, which would then corrupt machines that they contact.

“Now all of your USB devices are infected. It becomes self-propagating and extremely persistent,” Nohl said. “You can never remove it.”

Christof Paar, a professor of electrical engineering at Germany’s University of Bochum who reviewed the findings, said he believed the new research would prompt others to take a closer look at USB technology, and potentially lead to the discovery of more bugs. He urged manufacturers to improve protection of their chips to thwart attacks.

“The manufacturer should make it much harder to change the software that runs on a USB stick,” Paar said.


Cybercrime and espionage costs $445 billion annually

Cyber FraudSource: WashingtonPost

A Washington think tank has estimated the likely annual cost of cybercrime and economic espionage to the world economy at more than $445 billion — or almost 1 percent of global income.

The estimate by the Center for Strategic and International Studies is lower than the eye-popping $1 trillion figure cited by President Obama, but it nonetheless puts cybercrime in the ranks of drug trafficking in terms of worldwide economic harm.

“This is a global problem and we aren’t doing enough to manage risk,” said James A. Lewis, CSIS senior fellow and co-author of the report, released Monday.

The report, funded by the security firm McAfee, which is part of Intel Security, represents one of the first efforts to analyze the costs, drawing on a variety of data.

“Cybercrime costs are big, and they’re growing,” said Stewart A. Baker, a former Department of Homeland Security policy official and a co-author of the report. “The more that governments understand what those costs are, the more likely they are to bring their laws and policies into line with preventing those sorts of losses.”

According to the report, the most advanced economies suffered the greatest losses. The United States, Germany and China together accounted for about $200 billion of the total in 2013. Much of that was due to theft of intellectual property by foreign governments.

Though the report does not break out a figure for that, or name countries behind such theft, the U.S. government has publicly named China as the major perpetrator of cyber economic espionage against the United States.

The Chinese government has accused the United States of being one of the biggest perpetrators of cyber-espionage, but the U.S. government has always objected that it does not steal intellectual property and hand it to its own industries to give them a competitive advantage.

CSIS estimated that the United States lost about $100 billion. Germany was second with $60 billion, and China followed with $45 billion.

In both the United States and China, the losses represent about 0.6 percent of their economies, while Germany’s loss is 1.6 percent.

Japan, the world’s fourth largest economy, reported losses of $1 billion, which researchers said was extremely low and not credible.

Valuing intellectual property is an art form, based on estimating future revenues the intellectual property will produce or the value the market places on it, the report said. Putting a price tag on it is difficult but not impossible, it said.

Intellectual-property theft lessens companies’ abilities to gain a full return on their inventions, and so they turn to other activities to make a profit, the report states. That depresses overall global rates of innovation, it said.

The report stated that countries appear to tolerate cybercrime losses as long as they stay at less than 2 percent of their national income. If losses rise above 2 percent, “we assume it would prompt much stronger calls for action as companies and societies find the burden unacceptable,” it said.

The report breaks the harm into three categories, without giving figures. The largest, it said, is intellectual property theft. The second is financial crime, or the theft of credit card and other types of data largely by criminal rings. The third is theft of confidential business information to gain an advantage in commercial negotiations or business deals.

CSIS used several methods to arrive at a range of estimates, from $375 billion to as much as $575 billion. Researchers looked for published data from governments around the world. They interviewed officials in 17 major countries. And they came up with a predictive model based on a CSIS report last year that estimated the cost of cybercrime to the U.S. economy. Their figures also included the cost of recovering from cyberattacks.

The main assumption they used was that the cost of cybercrime is a constant share of national income — at least in countries with similar levels of development.

In less developed countries, that cost is about 0.2 percent of gross domestic product, and in advanced economies it is almost 1 percent.

In 2009, McAfee issued a news release that pegged global economic losses at more than $1 trillion. The figure was cited by the White House and then-National Security Agency director Gen. Keith B. Alexander. But this year’s CSIS report concluded that it was unlikely that cybercrime cost more than $600 billion, which is the cost of the global drug trade.

The researchers said cybercrime and economic espionage require a response on par with global efforts to reduce drug trafficking. Besides better cybersecurity technologies, they said, governments need to devote resources to building defenses and to commit to observing existing international commitments to protect intellectual property.

 


Cyber Extortion Requires its Own Insurance Solution

Cyber CriminalCyber extortion is an increasingly popular form of cyber attack that requires its own insurance solution.

The digital world we live in and ever-increasing number of companies that rely on the Internet for their business have created a highly fertile ground for cyber crime. According to Norton’s Cybercrime 2012 report, 70% of online adults in Canada have been the victim of cybercrime at some point in their life. Cybercrime costs Canadians $1.4 billion per year and the average cost per crime victim is over $160.

What is Cyber Extortion?

Businesses are increasingly being attacked by cyber criminals, and new forms of cyber crime emerge rapidly, leaving us often one step behind. One example of cyber attacks becoming increasingly popular involves cyber threats and extortion. Cyber threats and extortion is a type of online crime involving an attack or threat of attack against a company to damage, expose, or shut down information belonging to the company unless a ransom is paid to avoid or stop the attack.

How does it work?

In these types of attacks cyber extortionists steal information from businesses and encrypt it so that it can’t be read. The latest backup of data can also be snatched and the original data deleted from the owner’s servers. Cyber extortionists thus take the company data hostage and demand ransom in exchange for the decryption key that would allow the victims to access their own information. However, the criminals won’t necessarily decrypt the files even after the ransom had been paid. Further attacks are possible, either by the same group or another. The type of malware used in these cyber attacks is called ransomware and it is easily spread through spam, phishing emails and malvertising. The ease of spreading the malware, combined with little or no repercussions for criminals, who are hard to track down or prosecute, makes cyber extortion a very lucrative undertaking. Often, cyber extortionists’ worst case scenario is not getting a payment from the victim. In many cases, amount of money asked for ransom is significantly lower than the potential financial loss for the company, so that it is easier for the company to pay the ransom and move on. These types of attacks, unless they happened at a large public company or a government entity, often don’t get reported to authorities and never reach the public. The victims often don’t want to risk their reputation or destroy consumer confidence.

How can businesses protect themselves?

To manage and minimize the potential damage from a cyber attack, companies should employ a comprehensive cyber risk management strategy that along with a cyber insurance also includes appropriate loss control techniques, an assessment of company’s networks vulnerabilities, and employee security awareness training. There are many different cyber insurance policies out there providing various coverages. Businesses should make sure that their cyber insurance policy coveres costs in case the company is unable to access its computer system, the system is infected by a virus, confidential information is compromised, or its brand and reputation is tarnished by posts on social media. In addition, the policy should cover the cost of independent computer security consultant to assess any threats, prevent immediate threats, offer reward to prevent perpetrators of the threat and reimbursement of any ransom the company is required to pay in the event above measures fail to mitigate the threat against them.


eBay Urges Password Changes After Breach

eBay

Source: KrebsOnSecurity

eBay is asking users to pick new passwords following a data breach earlier this year that exposed the personal information of an untold number of the auction giant’s 145 million customers.

In a blog post published this morning, eBay said it had “no evidence of the compromise resulting in unauthorized activity for eBay users, and no evidence of any unauthorized access to financial or credit card information, which is stored separately in encrypted formats. However, changing passwords is a best practice and will help enhance security for eBay users.”

Assisted by federal investigators, eBay determined that the intrusion happened in late February and early march, after a “small number of employee log-in credentials” that allowed attackers access to eBay’s corporate network were compromised. The company said the information compromised included eBay customers’ name, encrypted password, email address, physical address, phone number and date of birth. eBay also said it has no evidence of unauthorized access or compromises to personal or financial information for PayPal users.

The company said it will begin pushing out emails today asking customers to change their passwords. eBay has not said what type of encryption it used to protect customer passwords, but it previous breaches are any indication, the attackers are probably hard at work trying to crack them.

If you’re an eBay user, don’t wait for the email; change your password now, and make it a good one. Most importantly, don’t re-use your eBay or PayPal password elsewhere. If you did that prior to today, it’s a good idea to change that password to something unique at the other sites that shared it. And be extra wary of phishing emails that spoof eBay and PayPal and ask you to click on some link or download some security tool; attackers are likely to capitalize on this incident to spread malware and to hijack accounts.

eBay and PayPal users who haven’t already done so should consider using the PayPal Security Key, a two-factor authentication solution that can be used to add for additional security on both sites.

 


Heartbleed bug: What’s affected and what passwords you need to change

Source: globalnews.ca Published: 04/11/14

password screenAn encryption flaw now known as the Heartbleed bug has made a major impact on online security. The flaw has affected many online services and websites that Canadians access every day.

Security experts have gone as far to call it one of the biggest security threats the Internet has ever faced.

The flaw affects OpenSSL – a widely used open-source set of libraries for encrypting online services.

Heartbleed creates an opening in SSL/TLS, an encryption technology marked by the small, closed padlock and “https:” on Web browsers to show that traffic is secure. The flaw makes it possible to snoop on Internet traffic even if the padlock is closed, leaving users’ information vulnerable.

For now, the best  you can do to protect yourself is change the password to any accounts associated with websites affected by the bug once the website confirms it’s deployed a fix.

Global News has created a list of some of the most popular services to let you know what’s affected and what passwords you need to change:

ONLINE BANKING

Were Canadian banks affected? No. Do you need to change your password? No – but this is a good reminder that yourInternet banking password should be very secure.

“The online banking applications of Canadian banks have not been affected by the Heartbleed bug,” the Canadian Bankers Association said in statement issued Wednesday afternoon. “Canadians can continue to bank [online] with confidence.”

CANADA REVENUE AGENCY

Was it affected? Yes Do you need to change your password? Yes

As of Friday the CRA’s online services were still offline due to the security concern. But according to a statement issued Friday, the websites will be back online by the weekend. Those with accounts should update their passwords once the site comes back online to be safe.

SOCIAL MEDIA

Facebook

Was it affected? Unclear Do you need to change your password? Yes

“We added protections for Facebook’s implementation of OpenSSL before this issue was publicly disclosed. We haven’t detected any signs of suspicious account activity, but we encourage people to […] set up a unique password,” Facebook said in a statement.

LinkedIn

Was it affected? No Do you need to change your password? No

Instagram

Was it affected? Yes Do you need to change your password? Yes

“Our security teams worked quickly on a fix and we have no evidence of any accounts being harmed,” the company said.

Twitter

Was it affected? No Do you need to change your password? No

“We were able to determine that twitter.com and api.twitter.com servers were not affected by this vulnerability. We are continuing to monitor the situation,” Twitter said on its website Wednesday.

Tumblr

Was it affected? Yes Do you need to change your password? Yes

“We have no evidence of any breach and, like most networks, our team took immediate action to fix the issue. This might be a good day to call in sick and take some time to change your passwords everywhere,” Tumblr said in a statement on Tuesday.

Pinterest

Was it affected? Yes Do you need to change your password? Yes

TECH COMPANIES

Google

Was it affected? Yes Do you need to change your password? Probably.

According to a statement from Google, the company proactively looks for vulnerabilities in order to fix them before they are exploited and therefore fixed this bug “early.” Google said users do not need to change their passwords because of this – but better safe than sorry in this case.

“We’ve assessed this vulnerability and applied patches to key Google services such as Search, Gmail, YouTube, Wallet, Play, Apps, and App Engine.  Google Chrome and Chrome OS are not affected,” a post on Google’s security blog published Wednesday said.

Microsoft

Was it affected? No Do you need to change your password? No

Apple

Was it affected? No Do you need to change your password? No

Yahoo

Was it affected? Yes Do you need to change your password? Yes

“Our team has fixed the Heartbleed vulnerability across our main properties & is implementing the fix across our entire platform now,” the company tweeted Tuesday.

Yahoo is also the email provider for Rogers customers.

According to a statement issued to Global News, “Rogers. com doesn’t use the impacted versions of the SSL software, so was not impacted by the bug.” But a spokesperson added that the company recommends customers update their passwords frequently as best practice.

ONLINE SHOPPING

Amazon

Was it affected? No* Do you need to change your password? No

*Amazon said with the exception of some services – Elastic Load Balancing, Amazon EC2, Amazon CloudFront, AWS OpsWorks and AWS Elastic Beanstalk – its services were unaffected. If you use these, you should probably change your password.

eBay

Was it affected? No Do you need to change your password? No

Etsy

Was it affected? Yes Do you need to change your password? Yes

“As of right now, we have no indication that an attack has been conducted against Etsy beyond testing the vulnerability, but this type of issue makes it very difficult to detect, so we’re proceeding with a high degree of caution,” read a security update on Etsy’s website Tuesday.

Paypal

Was it affected? No Do you need to change your password? No

OTHER ONLINE SERVICES

Dropbox

Was it affected? Yes Do you need to change your password? Yes

“We’ve patched all of our user-facing services & will continue to work to make sure your stuff is always safe,” the company tweeted Tuesday.

OKCupid

Was it affected? Yes Do you need to change your password? Yes

Evernote

Was it affected? No Do you need to change your password? No

“Evernote does not use, and has not used, OpenSSL, so we were not vulnerable to this bug. As an Evernote user, you don’t need to take any action,” read the company’s blog.


Blog

FOLLOW OUR BLOG

Receive notifications of new posts automatically.



ABEX - AFFILIATED BROKERS EXCHANGE IS ON FACEBOOK.

Like us on Facebook

Connect with us on LinkedIn