Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

News

8/7/2020
01:00 PM
50%
50%

BEC Campaigns Target Financial Execs via Office 365

A series of business email compromise campaigns has been targeting executives of more than 1,000 companies, most recently in the US and Canada.

A wave of ongoing business email compromise (BEC) campaigns has been targeting Office 365 accounts of business executives since March 2020. The attackers, dubbed Water Nue, have targeted execs at more than 1,000 companies, most recently those in senior roles in the US and Canada.

The primary targets are financial executives, who they spear-phish with the goal of stealing credentials to conduct further fraud. Their phishing emails redirect victims to fake Office 365 login pages. With stolen credentials, attackers send emails to the executives' subordinates containing invoices with altered banking info so they can try to steal funds via transfer requests.

Trend Micro researchers first noticed the campaign because of a large group of email domains used in these phishing attempts. They say Water Nue is interesting for a few reasons: While the group is successful in targeting high-level employees, its technical capabilities are limited. The attackers use basic phishing tools — no backdoors or Trojans — and rely on public cloud services.

The use of cloud services enabled attackers to obfuscate operations by hosting infrastructure in the services themselves, making it more difficult for forensics teams to spot their activity, the researchers report. This technique has become increasingly common among cybercriminals.

These techniques are not new, but they are effective: At the time Trend Micro shared its blog post on Aug. 6, Water Nue's attack attempts had collected more than 800 credentials from executives.

BEC attacks are a constant and expensive problem for organizations, which lost an estimated $1.77 billion to the threat in 2019, the FBI reported earlier this year. And they're growing more common: A report in late 2019 found a 269% spike in BEC attacks from the previous quarter.

Read more details here.

Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Edge-DRsplash-10-edge-articles
I Smell a RAT! New Cybersecurity Threats for the Crypto Industry
David Trepp, Partner, IT Assurance with accounting and advisory firm BPM LLP,  7/9/2021
News
Attacks on Kaseya Servers Led to Ransomware in Less Than 2 Hours
Robert Lemos, Contributing Writer,  7/7/2021
Commentary
It's in the Game (but It Shouldn't Be)
Tal Memran, Cybersecurity Expert, CYE,  7/9/2021
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
The State of Cybersecurity Incident Response
In this report learn how enterprises are building their incident response teams and processes, how they research potential compromises, how they respond to new breaches, and what tools and processes they use to remediate problems and improve their cyber defenses for the future.
Flash Poll
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2021-22521
PUBLISHED: 2021-07-30
A privileged escalation vulnerability has been identified in Micro Focus ZENworks Configuration Management, affecting version 2020 Update 1 and all prior versions. The vulnerability could be exploited to gain unauthorized system privileges.
CVE-2021-34629
PUBLISHED: 2021-07-30
The SendGrid WordPress plugin is vulnerable to authorization bypass via the get_ajax_statistics function found in the ~/lib/class-sendgrid-statistics.php file which allows authenticated users to export statistic for a WordPress multi-site main site, in versions up to and including 1.11.8.
CVE-2021-34630
PUBLISHED: 2021-07-30
In the Pro and Enterprise versions of GTranslate < 2.8.65, the gtranslate_request_uri_var function runs at the top of all pages and echoes out the contents of $_SERVER['REQUEST_URI']. Although this uses addslashes, and most modern browsers automatically URLencode requests, this plugin is still vu...
CVE-2021-3636
PUBLISHED: 2021-07-30
It was found in OpenShift, before version 4.8, that the generated certificate for the in-cluster Service CA, incorrectly included additional certificates. The Service CA is automatically mounted into all pods, allowing them to safely connect to trusted in-cluster services that present certificates s...
CVE-2021-29297
PUBLISHED: 2021-07-30
Buffer Overflow in Emerson GE Automation Proficy Machine Edition v8.0 allows an attacker to cause a denial of service and application crash via crafted traffic from a Man-in-the-Middle (MITM) attack to the component "FrameworX.exe" in the module "MSVCR100.dll".