Cyber Crime Trends

Iain Campbell [email protected]

The New Landscape

• Deperimeterisation • Social Media: Miracle or Menace?

• Where is my data?

The Rise of the Targeted attack

www.criticalid.net

Types of Cyber Attacks

Objective Example Targeted Persistent Nuisance

Launch Points, nuisance Botnet, Spam

X X Economic Espionage

Economic Advantage, theft of IP Advance Persistent Threat

√ √ Organised Crime

Financial Gain

Hacktivists

Defamation, Publicity Credit Card Theft

√ √

Anonymous

√ X

www.criticalid.net

2013 Data Breach Investigations Report

http://www.verizonenterprise.com/DBIR/2013/ www.criticalid.net

2013 Data Breach Investigations Report

http://www.verizonenterprise.com/DBIR/2013/ www.criticalid.net

Who wants my data?

19 th February 2013: APT1: Exposing One of China's Cyber Espionage Units Mandiant tracked Comment Crew for 6yrs identifying 141 attacks called APT 1 3000 indicators (domain, IP, MD5) to identify attack source all led to Pudong district of Shanghai, outside HQ of unit 61398 Comment Crew launched RSA attack

the volume and sophistication of the attacks so intense that they threaten the fundamental relationship between Washington and Beijing.

Unit 61398 of the People’s Liberation Army, tasked with ”computer network operations”.

http://intelreport.mandiant.com/Mandiant_APT1_Report.pdf

www.criticalid.net

Who else wants my data?

Utah Data Center

• Every cell phone call in Bahamas “archived” • Call records of almost everyone inside the United States “collected” • Gmail “backdoor access”, Microsoft encryption weakened, denies data center access • RSA received $10 million to weaken encryption • Truecrypt mysteriously goes offline www.criticalid.net

Next Generation attacks

Google's security team reported Heartbleed on April 1 Affects OpenSSL 17% of the Internet's secure web servers were vulnerable, at time of disclosure on 7th April

April 2014

Bug deemed as catastrophic, and incidents included: Canada Revenue Agency, Community Health Systems (US), Massive password changes required including Akamai, Ars Technica, Bitbucket, BrandVerity, Freenode, GitHub, Mojang, Mumsnet, Pinterest, Reddit, SourceForge, Tumblr, etc...

Shellshock: 'bigger than Heartbleed' 25 September 2014!

www.criticalid.net

What about South Africa?

Bank card details leaked - PASA

“There are indications at this stage that only a limited number of card details have been accessed by outside organisations, and as a result limited fraud has been perpetrated" – Payment Association of South Africa, CEO Walter Volke “The card data emanating from these online transactions seems to have been stored in a manner which does not meet the stringent security standards expected by PASA” There was no need for “undue concern” www.iol.co.za/news/south-africa/bank-card-details leaked-pasa-1.1420656

www.criticalid.net

November 9 2012

What about South Africa?

Dexter infects Point of Sale terminals

PASA, card schemes and SA’s major banks have taken immediate steps to prevent a further leakage of card details because of a security lapse at a company processing transactions.

October 15 2013

“All the fast-food retailers have been cleaned out as far as possible, and certainly no one will be out of pocket [as the banks will honour losses].” Unique variant used in SA, original emerged in December 2012.

How did the data get out? & who is liable?

http://www.techcentral.co.za/sa-banks-in-massive data-breach/44338/ www.criticalid.net

Designed to elicit disclosure of timely, comprehensive, and accurate information about risks and events that a reasonable investor would consider important to an investment decision.

Should review, the adequacy of their disclosure relating to cybersecurity risks and cyber incidents, if the costs or consequences with one or more known incidents or the risk of potential incidents represent a material event (i.e. may reasonably be expected to affect the company's stock price) Estimate the impact of cyber incidents and the consequences of failing to implement adequate security.

Go beyond privacy, to key operational issues

http://www.sec.gov/divisions/corpfin/guidance/cfguidance-topic2.htm

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Where is the Risk?

 Market risk:  Dealstream collapse in 2008  VOX telecom exposure of R30 million  Single Stock Futures gives ABSA R1.4 billion liability  Credit Risk:  Standard Bank vehicle finance: R504m impairment loss in  FY to June 2014 African Bank: R6.4 billion  What about cyber crime losses and risk exposure?

 SABRIC estimates

R480 million

card fraud losses in 2013 http://www.iol.co.za/dailynews/news/sa-lost-r480m-to-card-fraud-1.1610443

www.criticalid.net

Conclusion

• • Payment systems are top target of attacks • • • • New threat environment: Next generation systemic vulnerabilities Shellshock: 'bigger than Heartbleed' 25 September 2014!

Encryption is no longer safe? Changing legal framework • New legal implications for data breaches Are you ready for a Security Breach?

www.criticalid.net

THANK YOU

Iain Campbell [email protected]

079 015 1905