Cyberattack Group Shifts Focus To Banks, Insurers After Casinos
Portfolio Pulse from Shivani Kumaresan
Cybersecurity researchers have identified that the hacking group Scattered Spider, previously focusing on casinos like MGM Resorts International, has shifted its attention to targeting banks and insurance companies, including breaches through Caesars Entertainment's external IT vendor. The group has impacted several companies, including Visa, PNC Financial Services, and Synchrony Financial, by deploying phishing links to steal credentials. Okta Inc is combating the group's tactics by introducing new security features.
May 08, 2024 | 6:21 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Okta Inc is actively combating Scattered Spider's tactics by introducing new security features to protect users against fraudulent log-in pages.
Okta's proactive measures to combat the hacking group's tactics by enhancing security features could positively influence investor perception, potentially leading to a short-term positive impact on its stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 70
NEGATIVE IMPACT
Caesars Entertainment Inc was breached through an external IT vendor by Scattered Spider, indicating a security vulnerability.
The breach through an external IT vendor highlights a significant security vulnerability for Caesars Entertainment Inc, potentially affecting investor confidence and the company's short-term stock performance.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 80
NEGATIVE IMPACT
MGM Resorts International previously targeted by Scattered Spider, faced an estimated $100 million impact to Adjusted Property EBITDAR due to a cyberattack.
The direct financial impact from the cyberattack on MGM Resorts International's operations, specifically mentioned as a $100 million negative impact, suggests a significant short-term negative effect on the company's financial performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 80
NEGATIVE IMPACT
PNC Financial Services Group Inc was among the recent targets of Scattered Spider, indicating a risk to its cybersecurity.
Being targeted by Scattered Spider puts PNC Financial Services Group Inc at a heightened risk of cybersecurity breaches, which could negatively affect investor confidence and the company's stock price in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
Visa Inc was also a target of the hacking group Scattered Spider, posing a threat to its security infrastructure.
The targeting of Visa Inc by Scattered Spider could lead to concerns over the company's cybersecurity measures, potentially impacting its stock price negatively in the short term due to investor concerns.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 60