BW Cyber September 2023 Monthly Newsletter

QR code

You may know what a QR code is, but are you aware that there is now a new wave of QR Code cyber-attacks that are extremely successful?

Basically, criminals are placing malicious QR codes in cleverly crafted phishing attack e-mails to trick users into scanning the QR code. And unlike malicious links or attachments, these malicious QR codes are often not blocked or detected by your e-mail protection service.

Click ‘read more’ below to learn more about this growing risk.

SIM swapping is the latest in a trend of attacks in which criminals are able to break into your online accounts despite Multi-Factor Authentication (MFA) protections. But how do they do this – it sounds complicated? Actually, it’s very simple. If you’ve ever bought a new mobile phone and called your cell carrier to upgrade from the old phone to the new phone – you did a “SIM Swap”. However, this new type of attack involves the cybercriminal pretending to be you and convincing your mobile carrier to transfer your phone number to their new phone.

Fortunately, there is an easy fix. Click ‘read more’ below to learn what to do to mitigate this risk.

“MFA Fatigue” attacks are not new, but they are one of the fastest-growing cyber threats to both individuals and organisations. Created to counter the increased use of multi-factor authentication (MFA), these attacks are intended to wear the user down. In essence, the attack continues with multiple MFA requests until the user relents and allows an MFA push authorization in order to stop the system from repeatedly bothering the user for confirmation. It may sound simple, but it works quite well.

Click ‘read more’ below to learn more about this threat, and how to reduce your risk.
BW Cyber has flagged multiple risks posed by generative AI tools such as ChatGPT, and criminals, seemingly always one step ahead, are now putting out fake ChatGPT-branded web browser and social media extensions to trick users and compromise their sensitive data.

Click ‘read more’ to learn more about this risk and what asset and wealth managers should be doing to mitigate it.

Upcoming Events

BW Cyber Founder Michael Brice is scheduled to speak at AltsOps 2023 on both Wednesday, October 18, and Thursday, October 19. BW Cyber is also sponsoring the event.

Click the links below for more information about AltsOps and to register. Registration is complimentary for asset managers.

AltsOps 2023 Day 1 – Private Markets

AltsOps 2023 Day 2 – Hedge Funds