Thursday , June 5 2025
mail

abnormal security report
Vendor Email Attacks risen by 137% in Financial Sector in 2023

The financial industry has seen a 137% rise in Vendor Email Compromise attacks in the past year, according to new data from Abnormal Security.

Most threats came from email attacks that tricked people, with the sector getting 200 advanced attacks per week for every 1000 mailboxes.

CVSS 9.6: IBM QRadar & Cloud Pak Security Flaws Exposed

IBM has issued a security advisory for vulnerabilities in its QRadar Suite Software and Cloud Pak for Security platforms. These...
Read More
CVSS 9.6: IBM QRadar & Cloud Pak Security Flaws Exposed

ALERT
Thousands of IP addresses compromised nationwide: CIRT warn

As Bangladesh prepares for the extended Eid-ul-Adha holidays, the BGD e-GOV Computer Incident Response Team (CIRT) has issued an urgent...
Read More
ALERT  Thousands of IP addresses compromised nationwide: CIRT warn

New Android Malware ‘Crocodilus’ Targets Banks in 8 Countries

In March 2025, the Threatfabric mobile Threat Intelligence team identified Crocodilus, a new Android banking Trojan designed for device takeover....
Read More
New Android Malware ‘Crocodilus’ Targets Banks in 8 Countries

Qualcomm Patches 3 Zero-Days Used in Targeted Android Attacks

Qualcomm has issued security patches for three zero-day vulnerabilities in the Adreno GPU driver, affecting many chipsets that are being...
Read More
Qualcomm Patches 3 Zero-Days Used in Targeted Android Attacks

Critical RCE Flaw Patched in Roundcube Webmail

Roundcube Webmail has fixed a critical security flaw that could enable remote code execution after authentication. Disclosed by security researcher...
Read More
Critical RCE Flaw Patched in Roundcube Webmail

Hacker claim Leak of Deloitte Source Code & GitHub Credentials

A hacker known as "303" claim to breach the company's systems and leaked sensitive internal data on a dark web...
Read More
Hacker claim Leak of Deloitte Source Code & GitHub Credentials

CISA Issued Guidance for SIEM and SOAR Implementation

CISA and ACSC issued new guidance this week on how to procure, implement, and maintain SIEM and SOAR platforms. SIEM...
Read More
CISA Issued Guidance for SIEM and SOAR Implementation

Linux flaws enable password hash theft via core dumps in Ubuntu, RHEL, Fedora

The Qualys Threat Research Unit (TRU) found two local information-disclosure vulnerabilities in Apport and systemd-coredump. Both issues are race-condition vulnerabilities....
Read More
Linux flaws enable password hash theft via core dumps in Ubuntu, RHEL, Fedora

Australia enacts mandatory ransomware payment reporting

New ransomware payment reporting rules take effect in Australia yesterday (May 30) for all organisations with an annual turnover of...
Read More
Australia enacts mandatory ransomware payment reporting

Why Govt Demands Foreign CCTV Firms to Submit Source Code?

Global makers of surveillance gear have clashed with Indian regulators in recent weeks over contentious new security rules that require...
Read More
Why Govt Demands Foreign CCTV Firms to Submit Source Code?

Last year, there were peak attack periods in late January, late September, and mid-December.

VEC is when bad actors pretend to be business providers, like suppliers or vendors, to trick financial transfers. These attacks are hard to spot because they seem real and can cause big financial losses for organizations.

Abnormal Security recently published a report on VEC attacks. The report mentions that millions of dollars have been targeted, including a shocking case where $36m was involved.

An example in the document showed how a $1.4m VEC attack was carried out against an Australian financial company. The attacker used legitimate communication patterns and invoices to change banking details in an innocent-looking email.

The financial services industry saw a 71% increase in Business Email Compromise (BEC) attacks in 2023. These attacks involved cybercriminals pretending to be executives or employees to commit payroll or banking fraud.

BEC attacks can trick traditional security tools using social engineering, even without harmful links or attachments. Last year, the median open rate for text-based BEC attacks was almost 28%, showing how effective these tactics can be.

The firm says that these attacks are very sophisticated. They are able to trick security systems and people because they look real and make small changes to avoid detection.

“If these trends continue, organizations in the financial services industry should prepare for the increasing frequency of email-based attacks targeting human fallibility,” the company wrote.

“While VEC, BEC, and scams can often circumvent traditional security solutions, organizations are meeting the challenges presented by sophisticated email attacks head-on by adopting sophisticated cloud email security.”

Check Also

mobile

Bank server compromised using customer’s mobile, steal ₹11 crore

Cyber fraudsters hacked the Himachal Pradesh State Cooperative Bank’s server using a customer’s mobile phone. …

Leave a Reply

Your email address will not be published. Required fields are marked *