Researchers warn of APTs, data leaks as serious threats against UK financial sector & More News Here

Researchers say that geopolitical rigidity, ransomware, and cyberattacks utilizing stolen credentials threaten the UK’s financial sector.

On Monday, KELA’s safety crew revealed a report inspecting the cybersecurity points and assaults that surfaced in 2021 and early 2022, particularly targeted on the United Kingdom’s banks and different financial companies.

The UK was one of the primary international locations to face with Ukraine after the invasion by Russia. This might make UK organizations a tempting goal for risk actors siding with Russia — whether or not by state-sponsored superior persistent risk (APT) teams or hacktivists. The National Cyber Security Centre (NCSC) beforehand warned companies to shore up their cybersecurity following Russia’s assault.

APTs are sometimes liable for attacking the financial sector: account credentials, card numbers, and the personally identifiable info (PII) of prospects are helpful not solely in social engineering and id theft but additionally to make fraudulent purchases or for card cloning.

APTs goal organizations worldwide, and people situated within the UK are not any exception. Over the previous few years, APTs, together with the Chinese APT40 and APT31, have utilized vulnerabilities, together with ProxyLogon, to compromise UK companies.

“In general, APTs may target the financial sector to commit fraud, burglarize ATMs, execute transactions, and penetrate organizations’ internal financial systems,” KELA says. “Although specific threats to the UK financial sector have not been identified, there is no doubt that the UK has occasionally been a target of APT groups during 2021.”

Exposed company info and leaked credentials are additionally of be aware. After looking Dark Web boards, the researchers discovered that UK data is “in demand” by cybercriminals who’re searching for PII, entry credentials, and inside data.

For instance, in January 2021, an ExploitIn discussion board person requested for a “UK database leak.” On the identical Russian discussion board, one other requested “UK targeted bank leads with DOB, full name, bank name/sort code, address and postal code […] DOB has to be between 1935 and 1955” this 12 months.

From January 2021 to February 2022, KELA tracked near 16,000 distinctive, leaked credentials linked to UK financial organizations which appeared on-line. This consists of info leaked through the RedCappi, ParkMobile, and Oxfam breaches.

However, no UK organizations took a high spot within the 14 breaches throughout 2021 – 2022 with the best quantity of leaked credentials. Instead, many of them had been primarily based in India.

“As the UK plays a significant role in the global economy, often providing services to international companies and organizations, it is likely that breaches related to foreign companies would affect UK firms,” the researchers stated.

The sale of community entry, whereas not as widespread, can be a risk to the UK financial sector. KELA discovered roughly 60 cases of community entry listings, together with one for a UK fintech agency with $5 million in annual income, provided for less than $300, and a prolific Russian dealer touting entry to UK corporations 13 occasions prior to now 12 months.

Ransomware additionally stays a plague for UK financial organizations and companies worldwide. The cybersecurity agency noticed 135 UK financial corporations experiencing a ransomware incident in 2021. However, this may occasionally solely be a fraction of the true quantity as these organizations have solely been recognized on account of ransomware weblog and leak websites, negotiation portals, and media experiences.

When it got here to concentrating on UK corporations, the Conti, PYSA, LockBit, and Sodinokibi ransomware teams had been probably the most energetic.

“This report sheds light on the multiple, varying cyberthreats posed to UK companies and organizations in general, and the UK financial sector in particular,” the researchers famous. “Through 2021, both financial and other UK companies have been subject to multiple ransomware attacks, and credentials and compromised accounts belonging to British entities were often offered for sale on cybercrime forums.”

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