New Malware Campaign Affects 1 Million Google Accounts
Research Shows that Overcompensation for Cyber Attacks Can Backfire
Research conducted by the Sam M . Walton College of Business and the Billingsley Chair of Information Systems has shown that consumers are often suspicious when they are given too much compensation following a cyber attack .
The research noted that because it can be difficult to ascertain the exact costs of a cyber attack , offering appropriate compensation to consumers can be just as challenging .
For example , in 2013 , a cyber attack against Target affected 110 million customers . After the attack had been resolved , Target offered customers a 10 percent discount on purchases — an offer that was met favorably . However , the research found that customers grew suspicious when the company also offered free credit monitoring as reimbursement .
Authorities Shut Down Cyber Crime Ring
Authorities in the United States and EU recently shut down a network of hackers known as the Avalanche network . The group had operated since at least 2010 and targeted more than 500,000 computers with a variety of cyber attacks .
The Avalanche network was also used as a platform to distribute and purchase malware for a variety of purposes — though the network was mostly used to steal online banking information or to install ransomware on various computer systems .
It was recently revealed that a state prosecutor ’ s office in Pennsylvania was targeted by one of the Avalanche network ’ s ransomware attacks and was forced to pay $ 1,400 in bitcoin to release its infected computer network . However , it ’ s unknown if the cyber crime ring targeted additional government agencies . Five known members of the group are currently facing charges in numerous countries .
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• Politically-motivated and state-sponsored attacks will become more common . The large number of high-profile cyber attacks at the end of 2016 , along with the accusation that many of the attacks were statesponsored , may lead to businesses being affected by the collateral damage of these attacks . Additionally , the report predicts that such attacks will only grow as politically-motivated hackers seek retaliation against others .
• Hackers will focus on payment-based attacks , despite new credit card security measures . Although the switch to EMV chip cards and the PIN liability shift were expected to protect against payment breaches , uneven adoption could lead to additional cyber exposures in 2017 . Additionally , criminals are beginning to use sophisticated skimming machines to steal card data at physical retail and ATM locations .
• International data breaches will cause major problems for multinational businesses . The loss of consumers ’ data is a large problem if it occurs in just one country , but multinational businesses must also deal with everchanging regulations in all of their markets . The United States , EU , Australia and Canada have all passed new regulations that will force businesses to re-evaluate their cyber security plans .
New Malware Campaign Affects 1 Million Google Accounts
A malware campaign called Googlian has breached over 1 million Android devices , and continues to affect approximately 13,000 devices every day . The malware is capable of stealing a user ’ s authentication , which allows it to gain access to personal data from Google Play , Gmail , Google Photos and other platforms .
Googlian uses a Trojan horse attack , in which the malware poses as a legitimate app that is downloaded onto a user ’ s device . However , Googlian uses the data on a user ’ s phone effectively as a marketing scheme , and surreptitiously downloads additional apps onto the device . And , although Googlian has not yet targeted personal information for profit , advertisements located in the apps generate revenue for the hackers .
Google has stated that the Googlian apps come from third-party app stores , and not the company ’ s official Google Play store . As a result , Android users should delete any third-party apps from their devices and only download apps from the official store .
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