Businesses have been put on alert following the discovery of a new personalized phishing scam that attempts to trick users into installing malware on their company’s computers. These new personalized phishing scam emails are primarily being used to spread CryptoWall ransomware, although that is far from the only payload delivered.
New Personalized Phishing Scam Delivers Wide Range of Malware
The new scam is also being used to deliver the Arsnif/RecoLoad POS reconnaissance Trojan to organizations in the retail and hospitality industries, as well as the Ursnif ISFB banking Trojan.
The current attack does not target all employees. Instead it is used to try to install malware on the computers of users with elevated network privileges such as senior executives, CFO’s, senior vice presidents, CEO’s, heads of finance, and company directors. These individuals not only have access to a far greater range of data, they are also likely to have access to corporate bank accounts.
If the payload is delivered it can result in POS systems being infected, access to bank accounts being gained, as well as widespread data encryption with ransomware. Once single email could cause a considerable amount of damage. The emails are currently being used to target organizations in the financial services, although the retail, manufacturing, healthcare, education, business services, technology, insurance, and energy sectors have also received large volumes of these emails.
What makes this particular phishing campaign stand out is the fact that the emails have not been delivered to random individuals. Many spammers send out phishing emails in the millions in the hope that some individuals will respond. However, this is a personalized phishing scam targeting specific individuals. Those individuals have been researched and the emails include data specific to the target.
Each email refers to the recipient by name and includes their job title, address, and phone number in the body of the email. The subject is specific, the email crafted for a particular industry, and the attached files and links have been named to make them appear genuine. The emails have also been well written and do not contain the spelling and grammar mistakes typical of spam email.
A personalized phishing scam such as this is not usually conducted on such a large scale. Spear phishing emails are usually send to just a handful of individuals, but this personalized phishing scam is being sent to many thousands of people, in particular those in the Unites States, United Kingdom, and Australia.
The data used in the email body could have been harvested from a social media site such as LinkedIn, although the scale of the attack suggests data has been obtained from elsewhere, such as a previous cyberattack on another company such as a supplier or an Internet site. Companies that do not use a robust spam filter such as SpamTitan are particularly at risk.
Eastern European hackers may only have had access to GozNym banking malware for a few days, but they have already used the malicious software to make fraudulent bank transfers from more than two dozen bank accounts. The new malware is primarily being used to target banks and credit unions, although the attackers have also used the malware to attack e-commerce platforms. 22 attacks have been conducted on financial institutions in the United States with a further 2 attacks in Canada. So far the attackers behind the GozNym banking malware have managed to steal at least $4 million from U.S and Canadian banks.
GozNym Banking Malware Combines Gozi ISFB with Nymaim Source Code
As the name suggests, GozNym banking malware was developed by combining two different malware strains – Nymaim and Gozi ISFB.
IBMs X-Force Research team believe the new malware is the work of the team behind Nymaim malware, as the source code of Nymaim is understood to be only held by the original developers of the malware. The source code for Gozi ISFB malware has previously been leaked on two occasions. X-Force analysts think the Nymaim malware developers obtained that source code and used the best parts to form the new hybrid Trojan.
Nymaim malware has previously been used almost exclusively as a method of ransomware delivery, although the group behind the malware started using it as a banking Trojan late last year. Nymaim malware is a two stage malware dropper that is loaded onto computers using an exploit kit.
Links to a website containing the Blackhole Exploit Kit are sent via spam email. Once Nymaim has been loaded onto a computer, the second payload is deployed. In the case of GozNym banking malware the second stage is the running of Gozi ISFB code.
GozNym banking malware is stealthy and persistent. The malware remains dormant on a computer until the user logs into their bank account. When account details are entered, GozNym records the login credentials and silently sends them to the attackers’ command and control server. If GozNym banking malware is installed, the user will be unaware that their banking sessions have been compromised.
IBM recommends using adaptive malware detection solutions to reduce the risk of an attack. Anti-spam solutions such as SpamTitan can prevent emails containing the malicious links from being delivered, while WebTItan web filtering solutions can be used to block websites containing malicious code and exploit kits.
With new malware constantly being developed – around 1,000,000 new malware samples are now being released every day according to Symantec – organizations now need to implement sophisticated multi-layered defenses to protect their networks from malware infections.
Over the past three years business email compromise scams have been conducted with increasing regularity. However, over the past year the number of business email compromise scams reported to the Federal Bureau of Investigation (FBI) have increased dramatically.
Since January 2015, the FBI reports there has been a 270% increase in BEC attacks. FBI figures suggest the total losses from business email compromise scams since October 2013 has risen to $2.3 billion. Reports of successful BEC scams have been sent to the FBI from over 79 different countries around the world, which have affected more than 17,642 businesses.
Business email compromise scams involve the attacker gaining access to a corporate email account, such as that of the CEO, and requesting a bank transfer be made to their account. An email is sent from the CEO’s account to an accounts department employee, and all too often the transfer is made without question.
Unfortunately for U.S Businesses, BEC attacks are likely to increase as more cybercriminals get in on the act. Security experts have warned that the situation is likely to get a lot worse before it gets better. With the average fraudulent bank transfer between $25,000 and $75,000 and considerable potential to obtain much higher sums, criminals are more than willing to conduct the attacks.
A recent report from Dell SecureWorks indicates some hackers are selling their services on underground marketplaces and are offering access to corporate email accounts for just $250. Since cybercriminals could buy access to corporate email accounts, even relatively unskilled criminals could pull off a BEC scam and potentially have a million dollar+ payday. A number of large corporations have been fooled by these scams and have recorded losses of well over $1 million.
Business Email Compromise Scams Can Be Highly Convincing
BEC scams are convincing because even with security training, staff members tend to assume attacks will come from outside their organization. Employees are suspicious about emails that request the disclosure of login credentials, and a request to make a bank transfer that has not come from within an organization is likely to be immediately flagged as a scam.
However, when the CEO sends an email to a member of the accounts department requesting a bank transfer, many employees would not think to question the request. The person arranging the transfer would be unlikely to call the CEO to confirm payment. The transfer may go unnoticed for a number of days, by which time the funds would have been withdrawn from the attackers account and would be impossible to recover.
To conduct this type of attack the attacker would need to gain access to the email account of the CEO or an executive in the company who usually sends bank transfer requests to the accounts department. Once access has been gained, the attacker can read emails and learn the terminology typically used by that member of staff.
An email can then be written in the same language used by that individual. This ensures that the email does not rouse suspicions. Attackers research the transfer requests that are typically made and set the dollar amounts accordingly.
Since the account transfers are made to bank accounts outside the United States, the companies most frequently targeted are those that often make International payments. To the targeted accounts department employee, the request would seem perfectly normal.
How to Reduce the Risk of Employees Falling for BEC Scams
There are a number of ways that organizations can reduce the risk of employees falling for business email compromise scams. SpamTitan could not block a request sent from a compromised email account, but oftentimes attackers spoof email addresses. They purchase a domain that looks very similar to the targeted company, often transposing two letters. Oftentimes a domain is purchased replacing a letter “i” or an “L” with a “1”. If the email address of the sender is not carefully checked, this could well go unnoticed. SpamTitan can be configured to automatically block these spoofed email addresses to prevent these emails from being delivered.
To prevent employees from falling for business email compromise scams sent from compromised email accounts, policies and procedures should be introduced that require all account transfers to be verified by two individuals. Large transfers should also, where possible, be confirmed by some means other than email. A quick call to sender of the email for instance.
Organizations that choose to do nothing could regret failing to take precautions. Take the Austrian Airline parts company FACC for example. It reportedly lost approximately $55 million to such a scam.
Vulnerabilities in Adobe Flash Player are discovered with such regularity that news of another raises few eyebrows, but the latest critical vulnerability – discovered in Adobe Flash Player 22.214.171.124 and earlier versions – is a cause for concern. It is already being exploited by hackers and is being used to infect users with ransomware.
Any device that is running Adobe Flash Player 126.96.36.199 (or earlier) is at risk of the vulnerability being exploited and malicious file-encrypting software being installed. The latest vulnerability can be used to attack Windows, Macs, Linux systems and Chromebooks, according to ProofPoint, although Adobe reports that the vulnerability only affects Windows 10 and earlier versions running the vulnerable versions.
Flash vulnerabilities are usually exploited by visiting malicious websites or webpages that have been compromised and infected with exploit kits. Those exploit kits probe for a range of weaknesses, such vulnerabilities in Adobe Flash Player, and exploit them to download malware or ransomware to the user’s device.
These drive-by attacks occur without users’ knowledge, as the downloaded file is not displayed in the browser and is not saved to the download folder. It is also difficult to determine whether a website has been compromised or is malicious in nature without software solutions that analyze the website content.
Vulnerabilities in Adobe Flash Player Exploited to Deliver Cerber and Locky Ransomware
The latest attack uses the Magnitude exploit kit. The fact that it is Magnitude suggests the latest ransomware attacks are the work of an individual cybercriminal gang. That gang has acted quickly to include the latest Flash vulnerability into Magnitude.
According to Trend Micro, the vulnerability is being used to deliver Locky ransomware – the malicious file-encrypting software that has been used to attack hospitals in the United States in recent weeks. Locky was reportedly the ransomware used in the attack on Hollywood Presbyterian Medical Center in February. That infection cost the healthcare organization $17,000 to remove, not to mention the cost of attempting to remove the infection and restore backup files prior to the ransom being paid.
ProofPoint suggests the vulnerability is being used to deliver Cerber ransomware. Cerber is a new ransomware that has was released in the past month. It can be used to encrypt files on all Windows versions, although not those in Russian.
Cerber and Locky are being downloaded via malicious websites, although these are typically not visited by the vast majority of Internet users. In order to get traffic to these sites the attackers are using spam email containing malicious attachments.
In contrast to many malicious spam emails that install malware using executable files and zip files, the attackers are using Word documents containing malicious macros. The macros do not download the ransomware directly, instead they direct the victim, via a number of redirects, to a malicious site where the drive-by download takes place.
The vulnerability, named as CVE-2016-1019, will crash Adobe Flash when it is exploited. Adobe reports that the vulnerability exists in 188.8.131.52. Trend Micro says the exploit will not work on versions 184.108.40.206 and 220.127.116.11, only on Flash 18.104.22.1686 and earlier versions due to mitigations put in place by Adobe.
ProofPoint’s Ryan Kalember said that the exploit has been engineered to only work on earlier versions of Flash and that attacks have been degraded to evade detection. All versions of Flash could potentially be used for the attack should the criminals behind the Magnitude exploit kit so wish.
Of course, this is just one of many vulnerabilities in Adobe Flash Player that can be exploited and used to deliver ransomware or other forms of malware. To prevent attacks, sysadmins should ensure that all devices are updated to the latest version of the software. Adobe said it was releasing a security update to address the vulnerability on April 7, 2016.
Vulnerabilities in Adobe Flash Player are addressed with updates, although there are two software solutions that can help to protect users from attack. Anti-spam solutions such as SpamTitan can be used to prevent spam email from being delivered, reducing the risk of end users opening Word documents infected with malicious macros.
WebTitan products tackle these attacks by blocking malicious websites, preventing users from visiting sites where drive-by downloads take place. There is usually a wait while vulnerabilities in Adobe Flash Player are addressed, and these two solutions can help keep devices malware free until updates are applied.