Telecoms companies under attack; Ransomware takes a bite out of Halloween

Published 10/28/21, 9:30am

Cybersecurity News for the Week of 10/18/21

In this week’s cybersecurity news, we took a look at the China-based LightBasin hacking group that has been infiltrating telecommunications companies for at least five years. We also discussed two ransomware attacks—one against a major broadcasting company and the second against a well-known U.S. candy maker.

• LightBasin hacking group targeting telecoms for at least five years
• Ransomware ghouls souring Halloween for American candy maker 

Cybersecurity News Final Thoughts

One of the biggest mistakes any organization can make is assuming cybercriminals are without creativity, ingenuity, or business sense. To run a business, it is necessary to create efficiencies that maximize profits. We see this happening regularly among cybercriminal gangs, particularly those with a penchant for ransomware.

It is wise to remember that, for the time being at least, cybercrime pays easy money, and the anonymity gifted by the internet and cryptocurrency offers a sufficient-enough hole for cybercriminals to hide in. It is also important to remember that user gullibility and organizational security failures are behind as many (if not more) successful ransomware attacks than are the result of a deviously brilliant criminal mind.

In the end, what drives cybercrime more than anything is the potential for big money, and in turn this pushes criminals to find ever-more-creative ways to successfully achieve their goals.

Staying one step ahead of criminals takes time, patience, and commitment. It helps to be as dedicated, creative, and ingenious as the criminals themselves.