Cyber_Bytes - Issue 5 2019

Welcome to Cyber_Bytes, a bi-weekly roundup of key developments in cyber, tech and evolving risks.

Increased Investment in Cyber Protection

A Financial Times special report indicated that, as data breaches and ransomware hacks escalate, cyber protection is becoming one of the fastest-growing insurance industry sectors. It is excepted to reach $15 billion by 2022. This follows various high-profile incidents, including the WannaCry and NotPetya ransomware variants two years ago, with businesses appreciating the importance of protection given the expensive costs associated with data breaches.

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MoJ to develop cyber security log platform

The Ministry of Justice is looking to develop a cyber security log platform.  It is aiming to develop a single, centralised store of logs that can be queried to help correlate information on attacks and track behaviour by cyber attackers.  This will support the MoJ's ongoing implementation of new policies, standards, guidelines and procedures aimed at strengthening its cyber security capabilities.

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Serious Android vulnerability identified in top 500 most popular apps

Promon, a leading Norwegian app security company, has identified evidence of a dangerous Android vulnerability, known as 'StrandHogg', which allows real-life malware to pose as legitimate apps. Hackers are able to listen to users through the microphone, read and send SMS messages and phish login credentials amongst other actions.

For the full articles, please click here and here.

National Crime Agency seizes website which sold hacking tools

A website that sold hacking tools for as little as US$25 and which were responsible for infecting thousands of machines has been seized by law enforcements agencies. Nine people were arrested in the UK, fourteen arrests were made globally, and over 400 items related to the running of the website were seized.

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Cyber-attack targets UK’s nuclear industry

The National Cyber Security Centre has been providing assistance to a nuclear power company in the UK that has struggled to recover after falling victim of a cyber-attack. It is not yet known what damage the attack caused or whether it put public safety at risk.

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Berlin DPA imposes 14.5M euro GDPR fine to real estate company

The Berlin Commissioner for Data Protection and Freedom of Information has fined a real estate company 14.5 million euros for the unlawful storage of old tenant data. The fine is related to audits in June 2017 and March 2019 which revealed improper data storage and retention.

For the full article, please click here.