IntroThere’s no doubt that as the world relies on a digita
IntroThere’s no doubt that as the world relies on a digital platform to doany daily tasks, it also raises the ways how criminals perform maliciousacts. As Padgett-Beal goes into the financial business with acquiringIsland Banking Services, we should identify any threats that they shouldknow about as we go into this new business territory. I’ve researched acurrent attack that has happen that targeted sub-Saharan Africa banksin which this hacking group used social engineering to penetrate thebanks cybersecurity infrastructure. In this brief, I also go over somerecommendations to mitigate this kind of attack within our company. It’simportant to identify the new threats that are out there to ensure ourcybersecurity management program is current to deflect these newthreats.Silence GroupEarly 2020, it hasbeen identified that major banks located in sub-Saharan Africa has beenin target from cyber-attacks. Although it has not been clearlyidentified, how the attacker was able to infiltrate the bankscybersecurity and how they attacked matched the same attack method asthe hacker group, Silence Group (EBAW, 2020). Silence Group is a knownRussian hacking group. Their methods are considered very consideredadvanced due to their efficient tactics. They are considered one of themost active Advanced Persistent Threat (APT) actor around the world andhave been orchestrated successful bank-focused campaigns (Christian,2020). It’s thought that the reason why they have started attackingAfrican banks is due to their lack of current cybersecurity practices.Howthey attack is from creating a social engineering scheme. They sendphishing emails that contain malware to the employees. Once the malwareinfects the machine, it then makes its way to the bank’s securityperimeter. From here is where the APT gets its name, once in the malwarejust stays there with not much movement. It just performsreconnaissance with day to day operations by utilizing screen shots,video recording, and understanding how everything works. When thehackers are ready to strike, they turn everything on that the malware iscapable of such as ATMS which could reach up to millions.RecommendationsSomerecommendations that PB should do is train users to help identify aphishing attempt, and what to do if they think they have received one.Users are the most common vulnerability as they can make a mistake ofclicking on a questionable email link. Also having an IntrusionDetection Software (IDS) to see any traffic being sent out to unfamiliarIP addresses and the size. If the Silence Group is sending images andvideos to themselves, they may use a single IP address and if they aresending video files, the size of the file should be big enough to raisesome questions (Masweneng, 2020). Another recommendation is to have afirewall and anti-virus software that has up to date with the currentthreats that are out there and identified. If a known cyber attack wasidentified a month ago, and the current version of a firewall wasupdated six months ago, the network is vulnerable to that attack as thefirewall or anti-virus doesn’t have the new information to detect andblock any new malicious activity.SummaryAs Padgett-Beal goes into the financial business, it’s important tounderstand the different and new threats that are associated with thatarea of business. I went over a recent cyberattack that targetedfinancial institutions in sub-Saharan Africa. It’s thought that thereason why area was targeted was due to its lack of their cybersecuritymanagement processes that made then more vulnerable to attacks. I wentover some recommendations that would mitigate these kinds of attackswhich include training employees and ensuring anti-virus software iscontinuously updated from the vendor. We need to stay vigilant with whatthreats are out there and do whatever we can to safeguard our business.ReferencesChristian, A. (2020, February 3). Silence group now making rounds to exploits Sub-Sahara African banks. Retrieved from https://weetracker.com/2020/02/03/silence-group-ss…EBAW. (2020, January 13). Sub-Saharan Africa banks under attack from Russian speaking hacking group. Retrieved from https://www.busiweek.com/sub-saharan-africa-banks-…Masweneng, K. (2020, January 13). Notorious ‘Silence’ hacking group targeting banks in sub-Saharan Africa. Retrieved from https://www.timeslive.co.za/news/south-africa/2020… 30 mins ago
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