Tag Archives: The Wall Street Journal

Task Force Seeks to Disrupt Ransomware Payments

April 29, 2021

Some of the world’s top tech firms are backing a new industry task force focused on disrupting cybercriminal ransomware gangs by limiting their ability to get paid, and targeting the individuals and finances of the organized thieves behind these crimes.

Did Someone at the Commerce Dept. Find a SolarWinds Backdoor in Aug. 2020?

April 16, 2021

On Aug. 13, 2020, someone uploaded a suspected malicious file to VirusTotal, a service that scans submitted files against more than five dozen antivirus and security products. Last month, Microsoft and FireEye identified that file as a newly-discovered fourth malware backdoor used in the sprawling SolarWinds supply chain hack. An analysis of the malicious file and other submissions by the same VirusTotal user suggest the account that initially flagged the backdoor as suspicious belongs to IT personnel at the National Telecommunications and Information Administration (NTIA), a division of the U.S. Commerce Department that handles telecommunications and Internet policy.

Student Aid Tool Held Key for Tax Fraudsters

March 21, 2017

Citing concerns over criminal activity and fraud, the U.S. Internal Revenue Service (IRS) has disabled an automated tool on its Web site that was used to help students and their families apply for federal financial aid. The removal of the tool has created unexpected hurdles for many families hoping to qualify for financial aid, but the action also eliminated a key source of data that fraudsters could use to conduct tax refund fraud.

Last week, the IRS and the Department of Education said in a joint statement that they were temporarily shutting down the IRS’s Data Retrieval Tool. The service was designed to make it easier to complete the Education Department’s Free Application for Federal Student Aid (FAFSA) — a lengthy form that serves as the starting point for students seeking federal financial assistance to pay for college or career school.

Breach Blind Spot Puts Retailers on Defensive

February 28, 2014

In response to rumors in the financial industry that Sears may be the latest retailer hit by hackers, the company said today it has no indications that it has been breached. Although the Sears investigation is ongoing, experts say there is a good chance the identification of Sears as a victim is a false alarm caused by a common weaknesses in banks’ anti-fraud systems that becomes apparent mainly in the wake of massive breaches like the one at Target late last year.