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PINDROP BLOG

Category: Social Engineering

May 31, 2016
CEO of FACC Fired After Firm Was Hit by Email Scam
An Austrian aerospace manufacturer that lost €50 million in a business email compromise scam earlier this year has fired its CEO over the incident. FACC, which makes components for the aerospace industry, said its board decided last week to fire Walter Stephan for his involvement in the scheme, after previously firing other employees. In January, officials…
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May 25, 2016
Phone Fraud Scam Targets College Students For ‘Federal Student Tax’
The Federal Trade Commission is warning about a new variant on phone fraud scams that attempts to bully college students into paying a non-existent student tax. The scam is similar to many of the IRS phone scams that have been ongoing for several years, but with the novelty of pressuring students who likely are much…
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May 24, 2016
FBI: CEO Email Scams Cost U.S. Businesses $246M
Businesses in the United States lost more than $246 million to business email compromise attacks in 2015, dwarfing the losses to any other kind of attack, including phishing, vishing, ransomware, and credit card fraud. BEC scams involve a twist on the typical phishing emails, and aim to trick executives or finance employees who have authority…
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May 23, 2016
SWIFT Pushes Information Sharing After String of Bank Attacks
After a string of highly sophisticated and well-publicized attacks in recent weeks, officials at SWIFT, the banking payment consortium, are asking banks to improve their information sharing efforts to help combat future compromises. The SWIFT payment network has been targeted by several successful attacks recently, including one that resulted in the fraudulent transfer of $81 million…
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May 18, 2016
Clickjacking Bug Affects 95 Percent of Android Devices
Researchers have found that a vulnerability in Android that allows attackers to trick users into granting apps elevated privileges affects more devices than had originally been thought–nearly 96 percent of all Android devices. The vulnerability is not a typical bug. It relies on some user interaction and lies in the way that Android allows apps…
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May 11, 2016
SamSam and the Rise of Corporate Ransomware
The SamSam ransomware that caused serious damage to a California hospital and has infected many other enterprises in the United States is continuing to evolve and add new functionality as its developers look to stay ahead of researchers and defenders. SamSam is part of the newer wave of ransomware variants that don’t just rely on individual…
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May 10, 2016
Data Shows Phone Fraud Costing Businesses as Much as $27M a Year
Last year, about one in every 1,700 calls to a corporate call center in the United States was from a fraudster, and those malicious calls can cost large organizations as much as $27 million per year, new research shows. The rate of phone fraud in corporate call centers has jumped by more than 45 percent in the last…
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May 9, 2016
Inside the AlphaLocker Ransomware
The ransomware ecosystem has developed largely underground, and insights into the way that the malware is developed and controlled are rare. But researchers at Cylance recently got an inside look at the way that AlphaLocker ransomware goes about its business and found that the operation is surprisingly simple and yet still quite effective. AlphaLocker is…
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May 6, 2016
On the Wire Podcast: Chris Hadnagy
In this episode of the On the Wire podcast, Dennis Fisher talks with Chris Hadnagy of Social-Engineer Inc., about the concept of social engineering, how he got into the field, and how social engineering techniques are used by attackers. Chris talks about the way phishing has evolved in recent years, the rise of phone fraud…
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May 6, 2016
Jolly Roger and the Rise of the Anti-Bot Bots
A bot that started as a way for one man to annoy and frustrate telemarketers and robocallers has now developed into a subscription service for consumers and businesses who have had enough of the unsolicited and sometimes fraudulent calls. The Jolly Roger Telephone Co. is the creation of Roger Anderson, a phone industry veteran who…
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