Priya PatelTLDR:
- Two major ransomware gangs have bounced back after being hit by law enforcement agencies.
- Canada introduces new online harms legislation, and organizations still use unsupported software.
From Toronto, Howard Solomon reviews the week in cybersecurity news for the week ending Friday, March 1, 2024. The LockBit gang, recently attacked by law enforcement, has already regained access and launched a new dark web site. Canada introduces new online harms legislation, and organizations continue to use unsupported software. Other highlights include a call from the White House for software developers to use memory-safe programming languages and an Australian data breach due to a temporary worker’s compromised password. Additionally, researchers have identified a new Linux-based malware compromising telecommunications networks and President Joe Biden has issued an Executive Order to prevent the transfer of Americans’ personal data to designated countries. Finally, Cisco Systems releases security updates for firewalls and Nexus switches running NX-OS.
Full Article:
Hosted by Howard Solomon, the week in review for cybersecurity news covers various topics, including the resilience of ransomware gangs, with the LockBit gang quickly regaining access after a recent attack by law enforcement. The emergence of Canada’s new online harms legislation is discussed, along with the continued use of unsupported software by organizations. The article also highlights a call from the White House for software developers to use memory-safe programming languages and an Australian data breach caused by a compromised password. Researchers have identified a new Linux-based malware targeting telecommunications networks, and President Joe Biden’s Executive Order aims to prevent the transfer of personal data to certain countries. A California-based law firm notifies over 326,000 individuals of a data breach, and Cisco Systems releases security updates for firewalls and Nexus switches running NX-OS.
During a discussion with Terry Cutler of Cyology Labs, the challenges of combating ransomware gangs are explored. The decentralized nature of these groups, combined with the anonymity of cryptocurrency payments, makes it difficult for law enforcement to shut down these operations. The importance of collaboration between governments, law enforcement, and victims to track ransomware payments and seize funds is emphasized. Additionally, strategies for organizations to enhance cybersecurity measures, including implementing multi-factor authentication and conducting regular cybersecurity audits, are discussed to prevent future attacks.
The conversation touches on the necessity of reporting cyber breaches to law enforcement, improving incident response plans, and educating employees on cybersecurity best practices. The role of machine learning in identifying ransomware payments and disrupting criminal activities is highlighted as a potential solution to combat cybercrime. The discussion concludes with a call to action for organizations to prioritize cybersecurity measures and prepare for potential cyber threats.
