Thursday, April 18, 2024

Active Business Phishing Campaign Targeting Fortune 500 Companies to Steal Financial Assets

Hackers involved in Business Phishing Campaign using well crafted social engineering methods to harvest login credentials and to steal money.

The attack most likely to be originated from Nigerian origin and they are engaged in credential harvesting, phishing and social engineering campaign designed to steal financial assets.

IBM X-Force Incident Response team detected the campaign, the attacker group sent business email compromise (BEC) scams to Fortune 500 companies to initiate fraudulent wire transfers.

Also Read Beware!! Hackers Using Facebook Profiles to Trick the User’s in Downloading Android Spyware

The BEC attack is completely based on Phishing and social engineering, the cybercriminals don’t require any specific tools or malware.

Cybercriminals use some tactics to make the emails looks legitimate. The Emails sent directly from trusted contacts or spoofed to appear from trusted contacts.Mimicked previous conversation, inserted themselves into the conversation.
Business Phishing Campaign
Source: IBM

Researchers said “the size of the group is still unknown and the threat actors used phishing toolkits to create login pages for more than 100 compromised websites, which indicates the phishing campaign is widespread and the compromised websites vary in geographic location, IP address resolution and the Industry including retail, healthcare, financial and professional services”.

Also, the cybercriminals set up domains that similar to company’s domain name with small changes to make it believes it is a legitimate source. As like any other phishing attacks they have done some grammatical and colloquial mistakes.

Separately, once attackers used stolen credentials to send mass phishing emails, they at the same time came upon AN email rule to filter all responses to the phish, undelivered messages, or messages containing words like “hacked” or “email” to the user’s RSS feeds folder and marked them as the scam.

How to stay safe – Business Phishing Campaign

1. Have a unique Email address.
2. Do not open any attachments without proper validation.
3. Don’t open emails voluntary emails.
4. Use Spam filters & Antispam gateways.
5. Never respond to any spam emails.
6. verify the vendor.
7. Implement Two-factor Authentication


Latest articles

Palo Alto ZeroDay Exploited in The Wild Following PoC Release

Palo Alto Networks has disclosed a critical vulnerability within its PAN-OS operating system, identified...

FIN7 Hackers Attacking IT Employees Of Automotive Industry

IT employees in the automotive industry are often targeted by hackers because they have...

Russian APT44 – The Most Notorious Cyber Sabotage Group Globally

As Russia's invasion of Ukraine enters its third year, the formidable Sandworm (aka FROZENBARENTS,...

SoumniBot Exploiting Android Manifest Flaws to Evade Detection

A new banker, SoumniBot, has recently been identified. It targets Korean users and is...

LeSlipFrancais Data Breach: Customers’ Personal Information Exposed

LeSlipFrancais, the renowned French underwear brand, has confirmed a data breach impacting its customer...

Cisco Hypershield: AI-Powered Hyper-Distributed Security for Data Center

Cisco has unveiled its latest innovation, Cisco Hypershield, marking a milestone in cybersecurity.This groundbreaking...

Phishing-as-a-Service Platform LabHost Seized by Authorities

Authorities have dismantled LabHost, a notorious cybercrime platform that facilitated widespread phishing attacks across...
Guru baran
Guru baran
Gurubaran is a co-founder of Cyber Security News and GBHackers On Security. He has 10+ years of experience as a Security Consultant, Editor, and Analyst in cybersecurity, technology, and communications.


Mastering WAAP/WAF ROI Analysis

As the importance of compliance and safeguarding critical websites and APIs grows, Web Application and API Protection (WAAP) solutions play an integral role.
Key takeaways include:

  • Pricing models
  • Cost Estimation
  • ROI Calculation

Related Articles