Posts Tagged: Bill Nelson

Mar 18

Financial Cyber Threat Sharing Group Phished

The Financial Services Information Sharing and Analysis Center (FS-ISAC), an industry forum for sharing data about critical cybersecurity threats facing the banking and finance industries, said today that a successful phishing attack on one of its employees was used to launch additional phishing attacks against FS-ISAC members.

The fallout from the back-to-back phishing attacks appears to have been limited and contained, as many FS-ISAC members who received the phishing attack quickly detected and reported it as suspicious. But the incident is a good reminder to be on your guard, remember that anyone can get phished, and that most phishing attacks succeed by abusing the sense of trust already established between the sender and recipient.

The confidential alert FS-ISAC sent to members about a successful phishing attack that spawned phishing emails coming from the FS-ISAC.

Notice of the phishing incident came in an alert FS-ISAC shared with its members today and obtained by KrebsOnSecurity. It describes an incident on Feb. 28 in which an FS-ISAC employee “clicked on a phishing email, compromising that employee’s login credentials. Using the credentials, a threat actor created an email with a PDF that had a link to a credential harvesting site and was then sent from the employee’s email account to select members, affiliates and employees.”

The alert said while FS-ISAC was already planning and implementing a multi-factor authentication (MFA) solution across all of its email platforms, “unfortunately, this incident happened to an employee that was not yet set up for MFA. We are accelerating our MFA solution across all FS-ISAC assets.”

The FS-ISAC also said it upgraded its Office 365 email version to provide “additional visibility and security.”

In an interview with KrebsOnSecurity, FS-ISAC President and CEO Bill Nelson said his organization has grown significantly in new staff over the past few years to more than 75 people now, including Greg Temm, the FS-ISAC’s chief information risk officer.

“To say I’m disappointed this got through is an understatement,” Nelson said. “We need to accelerate MFA extremely quickly for all of our assets.” Continue reading →

Jun 13

Iranian Elections Bring Lull in Bank Attacks

For nearly nine months, hacker groups thought to be based in Iran have been launching large-scale cyberattacks designed to knock U.S. bank Websites offline. But those assaults have subsided over the past few weeks as Iranian hacker groups have begun turning their attention toward domestic targets, launching sophisticated phishing attacks against fellow citizens leading up to today’s presidential election there.

Phishing email targeting Iranians. Source: Google.

Phishing email targeting Iranians. Source: Google.

Since September 2012, nearly 50 U.S. financial institutions have been targeted in over 200 distributed denial of service (DDoS) attacks, according to the U.S. Department of Homeland Security. A Middle Eastern hacking collective known as the Izz ad-Din al-Qassam Cyber Fighters has claimed credit for the assaults, and U.S. intelligence officials have repeatedly blamed the attacks on hacker groups backed by the Iranian government.

But roughly three weeks ago, experts began noticing that the attacks had mysteriously stopped.

“We haven’t seen anything for about three weeks now,” said Bill Nelson, president and CEO of the Financial Services Information Sharing and Analysis Center (FS-ISAC), an industry coalition that disseminates data about cyber threats to member financial institutions. “It’s not clear why [the attacks stopped], but there are a lot of things going on in Iran right now, particularly the presidential elections.”

Meanwhile, data collected by Google suggests that the attackers are focusing their skills and firepower internally, perhaps to gather intelligence about groups and individuals supporting specific candidates running for Iran’s presidential seat. In a blog post published this week, Google said that it is tracking a “significant jump” in the overall volume of phishing activity in and around Iran.

Continue reading →