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
Oldest First  |  Newest First  |  Threaded View
COVID-19: Latest Security News & Commentary
Dark Reading Staff 10/27/2020
Modern Day Insider Threat: Network Bugs That Are Stealing Your Data
David Pearson, Principal Threat Researcher,  10/21/2020
Are You One COVID-19 Test Away From a Cybersecurity Disaster?
Alan Brill, Senior Managing Director, Cyber Risk Practice, Kroll,  10/21/2020
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
Special Report: Computing's New Normal
This special report examines how IT security organizations have adapted to the "new normal" of computing and what the long-term effects will be. Read it and get a unique set of perspectives on issues ranging from new threats & vulnerabilities as a result of remote working to how enterprise security strategy will be affected long term.
Flash Poll
How IT Security Organizations are Attacking the Cybersecurity Problem
How IT Security Organizations are Attacking the Cybersecurity Problem
The COVID-19 pandemic turned the world -- and enterprise computing -- on end. Here's a look at how cybersecurity teams are retrenching their defense strategies, rebuilding their teams, and selecting new technologies to stop the oncoming rise of online attacks.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2020-7753
PUBLISHED: 2020-10-27
All versions of package trim are vulnerable to Regular Expression Denial of Service (ReDoS) [DNP] via trim().
CVE-2020-27182
PUBLISHED: 2020-10-27
Multiple cross-site scripting (XSS) vulnerabilities in konzept-ix publiXone before 2020.015 allow remote attackers to inject arbitrary JavaScript or HTML via appletError.jsp, job_jacket_detail.jsp, ixedit/editor_component.jsp, or the login form.
CVE-2020-27183
PUBLISHED: 2020-10-27
A RemoteFunctions endpoint with missing access control in konzept-ix publiXone before 2020.015 allows attackers to disclose sensitive user information, send arbitrary e-mails, escalate the privileges of arbitrary user accounts, and have unspecified other impact.
CVE-2020-8956
PUBLISHED: 2020-10-27
Pulse Secure Desktop Client 9.0Rx before 9.0R5 and 9.1Rx before 9.1R4 on Windows reveals users' passwords if Save Settings is enabled.
CVE-2020-15352
PUBLISHED: 2020-10-27
An XML external entity (XXE) vulnerability in Pulse Connect Secure (PCS) before 9.1R9 and Pulse Policy Secure (PPS) before 9.1R9 allows remote authenticated admins to conduct server-side request forgery (SSRF) attacks via a crafted DTD in an XML request.