Tag Archives: Silicon Valley Bank

As If Bank Failures Aren’t Enough – Hackers Are Exploiting the Chaos to Breach Security

The Massachusetts State Police Commonwealth Fusion Center (CFC) believes that cyber actors may use the current bank failures for future phishing and business email compromise (BEC) attacks. Cyber actors often use current events to mask their phishing campaigns to seem more believable and relevant.  As everyone now knows, Silicon Valley Bank (SVB) became one of the largest banks to fail since the 2008 financial crisis. More recently, First Republic Bank also failed. … More

Minimizing Risk and Liability from Man-in-the-Middle Attacks (or, How to Keep Your Company’s Wire Transfers from Going Awry)

Given the recent failures of Signature Bank and Silicon Valley Bank, we know clients are looking to set up new banking relationships and moving money around, especially by wire transfers.  It will not come as a surprise that bad guys see this as an opportunity to prey on folks who are trying to access funds needed to make payroll or other basic business expenses.  This is just what the criminal “man in the middle” attacker wants – a time when businesses have let down their guard and hackers can induce fraudulent wire transfer.  … More