Tag Archives: cybersecurity

Meta Takes Down 8,000 Scam Ads to Stem “Celeb Bait” Scams with Australian Banks

Posted on by
Reply

Meta, the parent company of Facebook and Instagram, has removed around 8,000 “celeb bait” scam ads as part of a new collaboration with Australian banks. These scams often use images of famous personalities, many of which are created by artificial intelligence, to deceive people into investing in fake schemes.

Meta acted after receiving 102 reports since April from the Australian Financial Crimes Exchange, an intelligence-sharing platform led by major banks. These scams are a global issue, but Australia is putting additional pressure on Meta to address the problem, as Prime Minister Anthony Albanese’s government plans to introduce a new anti-scam law by the end of this year.

The proposed law could impose fines of up to A$50 million (around ₹280 crore) on social media, financial, and telecom companies that fail to control these scams. Public consultation for the law ends on October 4.

Scam reports in Australia have surged by nearly 20% in 2023, with total losses reaching A$2.7 billion (₹15,000 crore), according to the Australian Competition and Consumer Commission (ACCC). The ACCC previously sued Meta in 2022, accusing the company of not stopping fake cryptocurrency ads featuring celebrities like Mel Gibson, Russell Crowe, and Nicole Kidman. It estimated that 58% of cryptocurrency ads on Facebook could be scams. Meta is currently contesting the lawsuit, which has yet to go to trial.

In addition, Meta is facing another lawsuit from Australian billionaire Andrew Forrest. Forrest alleges that Meta allowed the spread of thousands of fake cryptocurrency ads on Facebook using his image. He claims Australians have continued to lose money to these scams since he first warned Meta in 2019.

David Agranovich, Meta’s Director of Threat Disruption, said that the initiative with Australian banks is still in its early stages but is showing promise. “A small amount of high-value information is helping us identify larger scam activities,” he said during a media briefing.

When asked about Australia’s proposed anti-scam law, Agranovich said Meta is still reviewing the draft and will share more details later. Rhonda Luo, the Head of Strategy at the Australian Financial Crimes Exchange, emphasized the importance of industry initiatives, saying, “It’s better to act early on scams rather than wait for regulations to take effect.”

FBI suspects Chinese hackers targeting COVID-19 research progress in US

Posted on by
Reply

The US Federal Bureau of Investigation (FBI) and Cybersecurity and Infrastructure Security Agency (CISA) have ncreased their vigilance in the wake of increased threat to COVID-19-related research in the country. The FBI is investigating the targeting and compromise of U.S. organizations conducting COVID-19-related research by China-affiliated cyber actors and non-traditional collectors.

These actors have been observed attempting to identify and illicitly obtain valuable intellectual property (IP) and public health data related to vaccines, treatments, and testing from networks and personnel affiliated with COVID-19-related research. The potential theft of this information jeopardizes the delivery of secure, effective, and efficient treatment options,” said FBI in a note.

Referring to China’s efforts to target these sectors, it described it a significant threat to the nation’s response to COVID-19 and sought to raise awareness for research institutions and the American public and provide resources and guidance for those who may be targeted. The FBI requested organizations who suspect suspicious activity contact their local FBI field office. CISA is asking for all organizations supporting the COVID-19 response to partner with the agency to help protect these critical response efforts.

A sound-activated camera was used to capture this image during a routine nighttime firearms training session /FBI

“The FBI and CISA urge all organizations conducting research in these areas to maintain dedicated cybersecurity and insider threat practices to prevent surreptitious review or theft of COVID-19-related material,” said FBI in a statement. FBI is responsible for protecting the U.S. against foreign intelligence, espionage, and cyber operations, while CISA protects the nation’s critical infrastructure from physical and cyber threats. CISA is providing support to the federal and state/local/tribal/territorial entities and private sector entities that play a critical role in COVID-19 research and response.

Cybersecurity Guidelines

  • Assume that press attention affiliating your organization with COVID-19-related research will lead to increased interest and cyber activity.
  • Patch all systems for critical vulnerabilities, prioritizing timely patching for known vulnerabilities of internet-connected servers and software processing internet data.
  • Actively scan web applications for unauthorized access, modification, or anomalous activities.
  • Improve credential requirements and require multi-factor authentication.
  • Identify and suspend access of users exhibiting unusual activity.
  • Victim Reporting and Additional Information
  • The FBI encourages victims to report information concerning suspicious or criminal activity to their local field office.

Even the United Kingdom’s National Cyber Security Agency released a similar alert earlier this month warning of malicious actors targeting COVID-19 response organizations using a tactic of password spraying.