ICYMI: Brexit, SWIFT heists, Office 365 phishing, CCTV botnets and more Brexit

News by SC Staff

This week's In Case You Missed it looks at Brexit, Cerber Ransomware, CCTV botnets and yet another heist on a SWIFT affiliate

How will Brexit affect the cyber-security industry in UK and Europe

As the UK reels from the landmark decision to leave the European Union, the tech sector considers the implications. Some are unphased by the move, but others have a laundry list of concerns.

First among them is a brain drain. With the planned departure from Europe, UK talent potentially becomes cheaper for other countries to hire and the attractions  of the lonely isle  look less appealing to  global tech talent. Moreover, the EU split might mean a greater vulnerability to cyber-attack

The worries here also stretch over the long term, according to some, who cite long term funding deprivation for research into tech.

Office 365 hit with a massive Cerber ransomware attack

Millions of Microsoft Office 365 users could have been exposed to the infamous Cerber ransomware.

On June 22, over half of 365 users were exposed to at least one phishing attempt according to cloud security company, Avanan. According to the company's disclosure,  it took Microsoft 24 hours to detect the attack and start blocking it.

Malware spawns a 25,000 strong CCTV camera botnet

Sucuri, an American website security company believes it has witnessed an overwhelmingly large DDoS attack on one of itscustomers. This attack not only showed a flood power not commonly seen, but lasted for days.

Sucuri traced the attack back to a massive botnet constructed of tens of thousands of CCTV cameras from all around the world.

SWIFT robbers swoop on Ukrainian bank

The fifth official heist on a bank using the SWIFT system meant a US$ 10 million (£7 million) loss for one Ukrainian bank.

The Kyiv branch of ISACA was called in to investigate and found startling similarities to the four previous SWIFT affiliate heists.

It's investigators suspect that though only five banks have reported these heists, dozens have probably been affected and are possibly too scared to say anything.

Brexit poses problems for UK unis and tech sector

More reactions over the UK's coming departure from Europe throw up concerns about tech funding for research in universities. Moreover, UK universities risk losing out on European research projects such as CERN and the European Space Agency.

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