Page 3 - Threat Intelligence Brief 7-10-2019_Neat

Perspective:

State of the

Marketplace

It should come as no surprise that a recent survey found that email
remains the biggest vulnerability to businesses. However, Barracuda’s

survey also highlights the risk of email attack by brand spoofing attacks,
also called brandjacking. According to researchers, nearly 80% of all
email attacks analyzed focused on brand identity theft. While there are
plenty of security firms pitching solutions to email threats, the fact
remains that it is the end-user that shoulders the burden: make sure

that they are properly trained.

New research from Alert Logic delves into the frequency (and risk) of
businesses using outdated operating systems. While The research
focused primarily on SMB’s, we’ve seen first hand that organizations of
all size frequently have one or more system running on an unsupported

operating system. Often these devices are either forgotten by IT, are
supported (or “unsupported”) by a third party/vendor or serve a specific
business purpose and either can’t be upgraded or risk interrupting a

business process. It is important to understand that unsupported
applications and operating systems represent a significant risk to the
environment. Auditors and regulators are no longer accepting excuses
for their presence, and businesses should take a zero-tolerance
approach to their vendor systems as well.

The Federal Reserve published a report on synthetic Identity fraud and
its impact on the US Payment System. Of note:

• 85%-95% of applicants identified as potential synthetic
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identities are not flagged by traditional fraud models.
• 20% of credit losses were attributed to synthetic fraud

identity in 2016.
• Between 2017 and 2018, the volume of Personally
Identifiable Information (PII) exposed increased by 126%
• Synthetic identity fraud costs U.S. Lenders $6 billion in 2016
• The average charge-off balance per instance of synthetic

identity fraud in 2016: $15,000
~Stay Secure

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