How Hackers are Exploiting File Hosting Services in Business Email Compromise Attacks

Understanding Cyber Attack Campaigns Targeting File Hosting Services

Microsoft has warned about a rise in cyber attack campaigns that exploit well-known file hosting services like SharePoint, OneDrive, and Dropbox. These platforms are commonly used in corporate settings, making them prime targets for evasion tactics used by threat actors. The ultimate goal of these campaigns is to compromise identities and devices, leading to serious issues like business email compromise (BEC).

What Are Cyber Attack Campaigns?

Cyber attack campaigns are systematic efforts by threat actors to infiltrate systems and steal sensitive information. These campaigns often use a variety of methods, but one common strategy involves manipulating legitimate services to bypass security measures.

Common Objectives of These Campaigns

The objectives of these cyber attack campaigns can vary. However, some of the most common goals include:

  • Identity Theft: Compromising user accounts to gain access to sensitive data.
  • Business Email Compromise (BEC): Gaining control over corporate email to conduct fraud.
  • Data Exfiltration: Stealing valuable information for sale or leverage.
  • Malware Deployment: Installing harmful software on victim systems.

How Do These Attacks Work?

Threat actors often leverage legitimate file hosting platforms to make their malicious activities less detectable. Here’s how they typically operate:

  1. Phishing Emails: Attackers send deceptive emails that appear to come from trusted coworkers or vendors. These emails often contain links to legitimate file-sharing services.
  2. Malicious Files: Once the user clicks the link, they are directed to a service like SharePoint or Dropbox, where they might download a file containing malware.
  3. Credential Harvesting: Some campaigns may lead users to log in via fake pages that mimic legitimate sites. This process allows attackers to collect usernames and passwords.
  1. Exploiting Trust: Since the files are hosted on trusted platforms, users might lower their guard, making them more likely to engage with harmful content.

Protecting Against These Threats

To defend your organization against cyber attack campaigns, consider the following best practices:

  • Training and Awareness: Regularly train employees about phishing and other social engineering tactics.
  • Verify Links: Encourage staff to hover over links to verify URLs before clicking.
  • Monitor File Sharing: Keep an eye on shared links and files being accessed within your organization.
  • Multi-Factor Authentication (MFA): Implement MFA for all accounts to add an additional layer of security.

The Rise of Business Email Compromise (BEC)

Business Email Compromise (BEC) is a significant risk that has grown alongside these cyber attack campaigns. BEC involves scam tactics that aim to deceive organizations into transferring money or sensitive data. Often, the attacker poses as a high-ranking official within the company or a trusted vendor.

Tactics Used in BEC

  • Spoofed Emails: Attackers create fake email accounts that look like they belong to company executives.
  • Urgent Requests: They send emails requesting immediate financial transactions, creating a sense of urgency.
  • Impersonation of Vendors: Attackers mimic legitimate vendors to reroute payments to their accounts.

Best Practices to Prevent BEC Attacks

Employing certain strategies can help mitigate the risks associated with BEC:

  • Verification of Requests: Always verify requests for money transfers or sensitive information through a trusted method (e.g., phone calls).
  • Regularly Update Security Protocols: Keep software, firewalls, and anti-virus tools up to date.
  • Educate Employees: Regular training on recognizing BEC attempts can empower employees to act cautiously.

Growing Use of Legitimate Services in Cyber Attacks

One startling trend is the increasing number of cyber attacks using legitimate file hosting services. This makes detection challenging for security teams. Understanding this trend is crucial for formulating effective defense strategies.

Conclusion

Microsoft’s warning about the growing use of file hosting services in cyber attack campaigns serves as a crucial reminder for organizations. By acknowledging the risks associated with platforms like SharePoint, OneDrive, and Dropbox, and understanding the methods used by attackers, businesses can take proactive steps to enhance their cybersecurity posture.

Additionally, consulting resources such as Krofek Security can provide valuable information and insights into protecting your organization.

By implementing training and awareness programs and enhancing security measures, businesses can better protect themselves against identity compromise and business email compromise.

Additional Resources

For further reading on cyber security measures and tactics against BEC, you can explore these links:

By staying informed and prepared, businesses can thwart the efforts of threat actors and secure their sensitive information against cyber attack campaigns.

Source

The Hacker News

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