Surprise – Spearphishing Losses Not Covered by Cyber Insurance

October 27, 2016

Apache Corporation is an oil-production company based in Texas.

Apache Logo

In 2013, Apache was the victim of a Business Email Compromise (BEC), losing $2.4 million. At the heart of the scheme was a spearphishing email that appeared to come from Apache’s vendor Petrofac Limited.  Apache filed a claim for the  loss with its cyber insurance carrier, Great American Insurance Company.  On October 18, 2016, the United States Court of Appeals for the Fifth Circuit ruled that cyber insurance did not cover the email fraud.

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How Do The Russians Do It?

October 21, 2016

The news is full of reports about compromised emails of important public officials and political leaders.  While we don’t know for sure who is behind the compromise of these emails, all indications are that the Russians are behind this.  One of the leading investigators of this problem is Crowdstrike, who waxes poetic about the sophistication and technical prowess of the attackers. What are these bad guys doing that requires the resources of a country?  Is this some kind of cyber atomic bomb coming out of a massive cyber Manhattan project? No.

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Spearphishers Attack MH17 Investigators

October 7, 2016

ThreatConnect has posted an excellent item detailing how somebody (Russia???) is using spearphising to undermine Bellingcat, an open source research firm that contributed to the MH17 investigation.

mh-17 wreckage

MH17 is the Malaysian Airlines airliner that someone shot down over the Ukraine on July 17, 2014, killing all 283 passengers and 15 crew on board.

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