6 million dollars in bitcoins hacked fbi investigating isis
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DOJ Has Reclaimed Some Of The Ransom Paid In Colonial Pipeline Hack
Company Filings. Good morning. Thank you for that kind introduction. I am glad to be at an event that brings together the public and private sectors to combat one of the growing threats to our economy and to our personal financial security.
I want to thank Robert Rodriguez for his invitation to speak today — and to recognize his long service to our nation and his commitment to cybersecurity. Before I continue with my remarks, however, let me issue the standard disclaimer that the views I express today are my own, and do not necessarily reflect the views of the SEC, my fellow Commissioners, or members of the staff.
What was once a problem only for IT professionals is now a fact of life for all of us. These incidents are clear illustrations of how the internet has become an integral part of our professional and personal lives. And while the benefits have been enormous, so, too, have the risks. In fact, there is almost no aspect of our lives that cybersecurity does not touch.
Each day, cyber-criminals try to invade our privacy,  steal our savings,  pilfer our business secrets,  and jeopardize our national security. One study has estimated that cybercrime and cyber-espionage may lead to the loss of as many as , jobs in America each year.
Recent reports have highlighted how the Internet of Things  is creating new opportunities for cyber-criminals to attack the devices we rely on every day, including medical equipment, cars, and home security systems.
In light of all this, it is not an overstatement to say that cybersecurity is one of the defining issues of our time. This is the very reason I have worked so hard in recent years to bring greater attention to this topic. Last year, I persuaded the Commission to convene a roundtable to discuss the risks that cyber-attacks pose to the companies we regulate, such as broker-dealers and investment advisers, as well as to public companies and the integrity of our markets. These efforts were important first steps toward a more agile and robust response to cyber-crime.
But, much more needs to be done. Cyber-attacks are becoming more pervasive, dynamic, and clandestine with each passing year. We must remain focused on cybersecurity if we are to keep pace with this constantly evolving threat. In addition, all stakeholders must work together. Today, I would like to talk about the various ways in which the SEC has been addressing this threat, and some areas where additional work — and additional collaboration — would be beneficial. Last year, like in recent years, we witnessed a number of massive data breaches at public companies and financial institutions.
One of the largest known breaches, which was experienced by eBay, affected million customers, while breaches at JP Morgan and Home Depot affected 82 million and 56 million customers, respectively. The reason for this is all too obvious: the market for stolen credit cards and other personal data, such as medical information, is massive.
A review of the cybersecurity landscape over the past few years reveals some very interesting — and troubling — trends. For example:. Some statistics will help to further underscore the scope and urgency of the cybersecurity threat. These statistics emphasize that cybercrime is a serious and persistent threat. This is especially true for the financial industry, which has traditionally been the primary target for cyber-criminals.
So what has the SEC been doing to help protect investors and our markets? To address the growing cybersecurity threat, the Commission is using a multi-faceted approach that brings to bear all the tools at its disposal. This includes implementing new rules, inspecting and examining regulated entities, bringing enforcement actions, and working to educate both the industry and the public by issuing guidance on cybersecurity matters. In fact, the Commission has had rules addressing cybersecurity for many years.
Maintaining the integrity of the technology systems that drive our capital markets has been a concern for the SEC for some time. Reg SCI will require certain key market participants, such as stock exchanges, to implement a robust set of cybersecurity protocols to ensure that their systems are secure from cyberattacks, and are also sufficiently resilient to recover should an attack succeed.
I would like to point out a few of the more noteworthy aspects of Reg SCI, because I believe they can serve as a model for how regulators may want to approach cybersecurity issues.
First, this rule employs a risk-based approach, so that the most critical systems are held to a higher standard. Second, the rule avoids an overly prescriptive approach. Instead, entities must develop procedures that are tailored to their unique risks. This is consistent with my earlier calls for greater board involvement in cybersecurity issues. It also recognizes the simple truth that board involvement ensures greater accountability, and, as one study has shown, makes breaches less likely, and can even reduce the cost of breaches when they occur.
Turning to the topic of inspections and examinations, the SEC has recently conducted examinations of several of the entities we oversee to assess their cybersecurity methods. The sweep also revealed areas that needed improvement. For instance, the sweep determined that, while the vast majority of the firms had adopted written policies regarding information security and cyberattacks,  these policies generally failed to specify how firms would determine responsibility for client losses stemming from a cyberattack.
For example, the SEC brought a lawsuit in against the senior officers of one brokerage firm that failed to take remedial steps after the firm suffered several serious breaches. New types of attack are constantly popping up. As many of you likely know, from time to time, the SEC furnishes guidance as to cybersecurity obligations under federal securities laws. The guidance also identifies a number of measures that advisers and funds should consider, including periodic testing of their IT systems, developing and testing a cybersecurity strategy, and providing employee training.
Although the SEC has not shied away from cybersecurity issues — whether by promulgating rules, inspecting regulated entities, or bringing enforcement cases — much work remains to be done. Cybersecurity is not a problem to be solved, but a continuous threat that demands constant attention. To that end, I would now like to discuss a few things that could help better protect us from the risk of cyberattacks. First, cybercrime is a common threat that requires a coordinated response.
It is widely acknowledged that one of the best defenses against cyberattacks is the prompt sharing of actionable information about threats and possible defenses.
Unfortunately, we appear to doing a poor job of sharing cyber threat information. A study found that intelligence sharing remains largely ad hoc and informal. This state of affairs results mainly from inadequacies in the current infrastructure for sharing threat information.
Although certain industries have formed cyberattack intelligence sharing mechanisms, known as Information Sharing and Analysis Centers, or ISACs,  the president of the Financial Services ISAC recently admitted that most firms rely on their peers as their primary source of cyber threat information, rather than an ISAC.
Many experts recognize that our cybersecurity efforts will never be truly effective until we automate the process of sharing of threat intelligence. Certain ISACs, including those for the financial services and healthcare industries, have adopted new software packages that should enable them to more quickly distribute cyber threat intelligence, and will also standardize the format in which intelligence is presented.
One way to break down these industry-based silos would be to form additional organizations that could link together the existing ISACs and broaden their reach. An executive order signed by President Obama earlier this year may help to do just that. Another barrier to a more robust approach to cybersecurity lies in the legal risks associated with sharing threat intelligence. Many firms claim that such liability is one of the principal hurdles they face when they seek to share information.
Obviously, legislation is needed to allow firms to share information with each other and with the government without fear of liability. Several bills have been proposed in Congress that would address this problem,  yet nothing has materialized to date.
I do not doubt that there are difficult issues that need to be resolved, including how to ensure that our privacy and civil liberties are protected. For the good of this nation and our economy, however, Congress must bridge its differences and work quickly to forge a path forward on this issue.
Without such legislation, we are all at risk. Congress is not the only one that has work to do. The SEC can also find ways to better address the ever-present danger of cyberattacks. Some simple measures the SEC should consider include the following. First, as I mentioned earlier, the Commission needs to expand the scope of Reg SCI to reach other crucial market participants.
This should be a top priority. Second, the SEC needs to ensure that public companies provide better and more timely information about the particular cyberattack risks they face, and to be more consistent in disclosing cybersecurity incidents. Third, the SEC should provide more guidance to market intermediaries about how to respond to more limited cybersecurity incidents.
I believe that a vibrant partnership between the public and the private sectors is the linchpin to an effective cybersecurity framework. I believe that only by working together can we make meaningful progress.
Ecclesiastes The theft included information on up to 80 million consumers including some non-Anthem customers in related plans and the data points taken included the names of employers, birth dates, social security numbers, medical account numbers, phone numbers, and home and email addresses but no medical records.
Experts believe that the Anthem data will hold strong value to thieves for years while card numbers decline rapidly in black market value. The Iranians and North Koreans extend these activities to include disruption via denial of service and sabotage using destructive malware.
It includes, for example, Internet-connected cameras that allow you to post pictures online with a single click; home automation systems that turn on your front porch light when you leave work; and bracelets that share with your friends how far you have biked or run during the day. Indeed, it is reported that one of the biggest hurdles to the advent of self-driving cars is the need to ensure that such vehicles cannot be hacked.
Ben Geier, Car hacking: how big is the threat to self-driving cars? See Transcript of the U. I am pleased that Chair White agreed with my recommendation and asked the staff to make this roundtable a reality.
This Task Force should be composed of representatives from each division that will regularly meet and communicate with one another to discuss these issues, and, importantly, advise the Commission as appropriate. Bentsen, Jr. We need each other, and we must work together. There are things government can do for you, and there are things we need you to do for us. Notably, Symantec also dubbed the Year of the Mega Breach.
See supra , note The server then returns this message to confirm that communications between the two are still working fine. James Vincent, Heartbleed: Coder responsible for 'catastrophic' bug says it can be 'explained pretty easily' , The Independent Apr. Intrusions may be perpetrated not only by attackers, but also by employees who accidentally expose information without authorization. This type of malware, which has now been observed for several years, attempts to extort money from victims by displaying an on-screen alert.
These alerts often state. The second one is that you also represent our nation.
Cybersecurity firm CrowdStrike has said with a medium level of confidence that it is associated with the Russian military intelligence agency GRU. The name "Fancy Bear" comes from a coding system security researcher Dmitri Alperovitch uses to identify hackers. Likely operating since the mids, Fancy Bear's methods are consistent with the capabilities of state actors. The group targets government, military, and security organizations, especially Transcaucasian and NATO -aligned states. The group promotes the political interests of the Russian government, and is known for hacking Democratic National Committee emails to attempt to influence the outcome of the United States presidential elections.
Trump Wanted a Summit With Putin. He Got Way More Than He Bargained For
Exit from Afghanistan. War in Afghanistan Will End August Response to Growing Ransomware Threat. Commission as McConnell Voices Opposition. Press for Ceasefire in Israeli-Palestinian Fighting. Calls for End to Fighting. Police Department Data Leaked in Cyberattack.
Previously on FINTRAIL 5
Within minutes, nothing was moving from the Intrepid to the Whitney. Moments later, on the George Washington Bridge, an SUV veered in front of an wheeler, causing it to jackknife across all four lanes and block traffic heading into the city. The crashes were not a coincidence. By nine, Canal Street was paralyzed, as was the corner of 23rd and Broadway, and every tentacle of what used to be called the Triborough Bridge.
I Have a Lot to Say About Signal’s Cellebrite Hack
Ryan Lucas. The Justice Department has recovered most of the ransom paid to hackers during the Colonial Pipeline ransomware attack, which blocked gas supplies to parts of the U. The Justice Department says it has recovered more than half of the ransom that Colonial Pipeline paid to hackers last month. The cyberattack against Colonial forced the company to shut down its operations, which caused disruptions in the fuel supply across large parts of the East Coast. NPR justice correspondent Ryan Lucas has been following this and joins us now with more.
Information is Beautiful: Data Breaches public. Jan update. July update old. A former America Online software engineer stole 92 million screen names and e-mail addresses and sold them to spammers who sent out up to 7 billion unsolicited e-mails. CardSystems was fingered by MasterCard after it spotted fraud on credit card accounts and found a common thread, tracing it back to CardSystems. An unauthorized entity put a specific code into CardSystems' network, enabling the person or group to gain access to the data. It's not clear how many of the 40 million accounts were actually stolen.
This is where we share what we have seen and heard from the industry, as well as a little look into what we have been up to. Stay tuned for our update every Tuesday. Alarming article on the BBC this week. Shadow Monday - The international networks of illicit finance.
Identity theft looms large on the dark web. Illegal trade of stolen personally identifiable information PII is an explosive market. A man in Birmingham, UK was sentenced after being arrested for illegally attempting to purchase a grenade on the dark web. Apparently, Umair Khan was a rather prolific dark web arms dealer. According to some security researchers, the much talked about Equifax breach will no doubt lead to massive amounts of personal identities sold on the dark web. An year-old student who ran the dark web enterprise known as vDos-s.
Home » Topics » Cybercrime. Cybercrime is crime committed via the Internet and computer systems. One category of cybercrimes are those affecting the confidentiality, integrity and availability of data and computer systems; they include: unauthorised access to computer systems, illegal interception of data transmissions, data interference damaging, deletion, deterioration, alteration of suppression of data , system interference the hindering without right of the functioning of a computer or other device , forgery, fraud, identity theft. Other types of cybercrimes are content-related, and involve the production, offering, distribution, procurement and possession of online content deemed as illegal according to national laws: online child sexual abuse material, material advocating a terrorist-related act, extremist material material encouraging hate, violence or acts of terrorism , cyber-bullying engaging in offensive, menacing or harassing behaviour through the use of technology. Cybercrime is part of a broader cybersecurity approach, and is aimed at ensuring Internet safety and security. The techniques used to facilitate the types of cybercrime that affect the confidentiality, integrity and availability of data and systems are very diverse and more and more sophisticated.