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November 10, 2017 Comments closed

Cyber Security News Roundup: BankBot is Back

in Hashing Out Cyber Security

The most interesting Cyber Security news from the past 24 hours.

It’s Friday! The week is basically over and now we can all look forward to a nice relaxing weekend. Of course, as you well know, cyber crime and thus, cyber security, never take the weekend off.

Here are the most interesting news stories from the past 24 hours including the return of BankBot, Wifi balloons, idiotic feds, dumb hackers and a dumb company, Equifax.

Enjoy.

More idiotic encryption talk from the Feds

With the recent shooting in Texas and with news that the FBI can’t access the shooter’s iPhone, encryption is back in the news for all the wrong reasons. Namely deputy Attorney General Rod Rosenstein doesn’t seem to understand how encryption works. He says he stands for strong encryption, but not for the “absolutist” idea that strong encryption shouldn’t be unbreakable. As many in the infosec community have said: that’s not really how it works.

[Source: Ars Technica]

Google Provides Internet to Puerto Rico

Google, or Alphabet, Google’s parent company, has assisted Puerto Rico’s storm ravaged citizens by providing them with free WiFi. The WiFi is being transmitted via balloons (it’s actually LTE). The project, codenamed “Loon” has been underway for a few weeks and Google is already reporting over 100,000 people have internet connectivity again.

[Source: Mashable]

Man Hires Hackers to take down former employer

A 46 year-old Minnesota man is in trouble after hiring a trio of hackers to perform a year-long Denial of Service attack against his former company. The man used the services to attack his old employer and a slew of other targets. What really got him into trouble though was a couple of emails he sent to his old IT department taunting them during the attacks. Google and Yahoo were subpoenaed, turned over the records and low and behold…

[Source: Naked Security]

BankBot Returns

Google cannot get rid of BankBot, this is the 4th time that researchers have found the malware in the Google Play app store. This time the offending app was called “Cryptocurrencies Market Prices.” What’s worse is that the app had been given a stamp of approval in the form of a “verified by Play Protect” badge. That’s not a good look for Google.

[Source: Hack Read]

Equifax Spent 87.5 million on Breach

Equifax’s Q3 earnings report is out and outlines the 87.5-million dollars that the company spent dealing with its massive breach. Of that 87.5 million, $55.5 million was spent on product, $17.1 million on consulting fees and $14.9 million on consumer support. Overall, the company grew by 4%.

[Source: ZDNet]

• #News Roundup