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Quarterly Security Assessment

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Quarterly Security Assessment Yuval Illuz Chief Information Security and Trust Officer, Commonwealth Bank ’m proud to present to our valued clients and partners our twelfth I edition of Signals. Signals Signals aims to empower business executives with unique insights into the cyber threat environment and advice on the Quarterly strategies and controls necessary to ensure security a robust defence. Regular readers of Signals will be aware that assessment in February the Notifiable Data Breaches scheme took effect, raising the bar on Q2 2018 what’s expected of Australian organisations in the event of a data breach. Creating a Data Breach Response Plan is widely recommended – including by the privacy regulator – as an essential step to enable your businesses to respond appropriately to a breach and comply with the scheme. We share our insights on implementing a plan and using it to influence broader change. On that note, I hope our analysis and advice continues to provide context and confidence for your security strategy. Horizon Scan Contents Upcoming events of interest 3 Editorial 9 Better Practice 2018 Melbourne A heightened security consciousness The latest advice your technology Jul team should consider when setting SINET 61 31 SINET is an international cyber security community that seeks to connect 4 Trends And Observations security policies industry, government, innovators and researchers. It runs events across Key trends observed during the quarter • Some help meeting new data protection the globe. SINET61 is the organisation’s Australian conference, which has had strong • State-sponsored attackers targeting regulations Government support. network infrastructure • Updated NIST Cyber Security Framework • New breaches and regulations • DDoS resilience intensify privacy focus • The threat that “keeps IT security staff 2018 Melbourne • Email payment fraud spreading awake at night” Oct OWASP • Web platforms raise the bar 19 • Supply chain attacks continue to dominate 10 Phish Eyes Commonwealth Bank’s Digital Protection Group will again be the principal • Web publishing tools exploited for Phishing lures for your security (Diamond) sponsor of AppSecDay, the annual application security conference organised cryptomining awareness teams to study by the Open Web Application Security Project (OWASP). AppSecDay provides a forum for software developers, testers, DevOps engineers and security professionals • “ATO Refund” Scams to improve the security of their apps. The event features talks and hands-on technical 6 Deep Dive workshops led by prominent Australian developers and security professionals. Into the Breach Signals has 10 conference passes and 4 training packages to give away to clients Turning your Data Breach Response Plan 11 Endnotes of Commonwealth Bank (up to two per organisation). Talk to your CBA relationship into a vehicle for change manager if you’re keen to snare them! Tickets are otherwise between $80 and $150 from http://appsecday.io 8 Regulatory And Legal New laws and legal precedents relevant to security strategy: 2018 Michael Fowler Centre, Wellington, New Zealand • Law enforcement operations target business email compromise Nov KIWICON 2038 • Local regulators tighten focus on cyber risk 16-17 After a brief hiatus, KIWICON is back for 2018 with a distinctly cyberpunk • International collaboration initiatives to vibe. KIWICON is the principle gathering of New Zealand and Asia-Pacific’s cyber strengthen global resilience security researchers, practitioners and policymakers. • Europe’s GDPR takes effect This report contains general advice for educational purposes only. Please consult your cyber security team and legal counsel for advice specific to your organisation. 2 Arjun Editorial Panel Ramachandran Consulting Editor Welcome Contributors Lucy Mannering Portfolio Manager Digital Trust & Privacy Luke Hopewell A heightened security Manager, Cyber Outreach consciousness Martha McKeen Senior Manager, Cyber Outreach Many security and security-minded technology In both Australia and the professionals have long been aware of the risk Reviewers posed by cyber threats and have been working US in recent months there hard to protect their organisations for many years. has been hesitation - to put it Yuval Illuz There must have been times when some of these Chief Information Security and Trust Officer dedicated practitioners felt like they were toiling in mildly - around the purchase the dark. Broader awareness of the importance of Kevin Cleary cyber security hasn’t always been a feature of of mobile technology from Cyber Intelligence Researcher our societies. Chinese manufacturers Happily, we may have crossed a line in the public’s consciousness around the value and importance of technology from Chinese manufacturers. The good security. reticence about these products – which some consider cheaper and even technologically superior The European Union’s General Data Protection – comes squarely down to security concerns. Regulation and Australia’s Notifiable Data Breach schemes - both which took effect this year - are And, as you’ll read in this edition of Signals, the notably strong statements from authorities about move to a more secure web via HTTPS adoption their expectations when it comes to privacy and continues to gain speed. By the time you are data protection. Voluntary standards and ‘best reading this, Google will have implemented a efforts’ by organisations to protect consumers change to mark all HTTP pages “not secure” in its appear to no longer suffice. The introduction of popular Chrome browser. The tech giant says the these regimes has arguably raised the public’s web should be “secure by default”. expectations as well. These overt gestures in favour of security represent Governments are also making plain their intent to a positive trend that will hopefully make all of our prioritise security outcomes. In both Australia and security conversations – with our boards, suppliers, the US in recent months there has been hesitation and customers – a little easier in the months and - to put it mildly - around the purchase of mobile years ahead. This report contains general advice for educational purposes only. Please consult your cyber security team and legal counsel for advice specific to your organisation. 3 By the Cyber Security: Numbers Trends and Observations Email payment Key trends observed during the quarter fraud spreading $22.1 Notwithstanding rapid development of exploits and sophisticated technical attacks, human deception remains a key backbone of success million for financially-motivated cybercrime. A recent lost by Australians in reportxvii by the Australian Competition and 2017 through business State-sponsored New breaches and Consumer Commission revealed Australian email compromisei businesses suffered over $22.1 million in losses attackers targeting regulations intensify in 2017 as a result of business email compromise scams. These scams typically involve fraudulent network infrastructure privacy focus email payment requests sent to accounts staff Network infrastructure devices such as routers continue to New data protection regulations and globally that appear to be a prime target for attackers. While large amounts of critical prominent data breaches coincided in the first half come from an data flow through them, these devices are known to often of 2018 to bring privacy to the fore. In the wake organisation’s CHECKLIST supplier or CEO. A contain basic security weaknesses. Routers often ship with of the Cambridge Analytica scandal, Facebook’s • Assume your domain and those of your data breaches in first six approach to data privacy was examined in detail in more recent variant 63 lower levels of security than other hardware and network and suppliers/ business partners can be weeks of mandatory data has emerged in device operators can be less attentive to changing default April when CEO Mark Zuckerberg testified to the spoofed. Whitelist use of your domain breach notification schemeii settings or applying security patches. In April, the US, UK and US congress in April. The company acknowledged Australia’s active for sending email using SPF (Sender Australian governments revealed Russian state-sponsored user data had been mishandled and has since property and real Policy Framework) and DMARC attackers had compromised routers of government and announced changes to its privacy settings. Europe’s estate sector. (Domain Message, Authentication, private-sector organisations, critical infrastructure providers, General Data Protection Regulation (GDPR) scheme The sector has Reporting and Compliance). ixx been a particularly and the internet service providers worldwide . In May, commenced in May, heightening public and • Enforce strict staff compliance with attractive to 15,000 researchers revealed 500,000 routers had been infected by regulator focus on privacy. Australian businesses payments processes, ensuring malware – dubbed VPNFilter – which was also attributed to may need to comply with the GDPR if they offer fraudsters of clear separation of duties. Large or Russian state actorsxi. These forms of compromise could goods and late according unexpected payments should not be xviii, services in the to analysts made on the basis of an email without hours allow attackers to paid overtime by law firm modify or monitor EU or monitor CHECKLIST with deposits, additional verification. xix DLA Piper’s IT team to CHECKLIST the behaviour settlement traffic passing through • Consult the Office of the Australian • Ensure staff with the authority
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