This week, the media reported that a number of major Wall Street financial services firms were targeted by threat actors in attempted cyber attacks.
Sources close to the matter named Two Sigma Investments and Citadel as some of the hedge funds targeted, with further investigation revealing a number of other firms.
While previous incidents involved AI-powered voice phishing, or vishing attempts, attempts on firms, including Blackstone, Apollo Global Management, Bain Capital, CME Group, Moody’s, Clearlake Capital, KKR, TPG, and Bridgewater Associates, involved fake websites that aimed to steal credentials from company staffers.
According to a Google blog post, a number of companies paid ransom to the hackers, who operate under a number of different monikers, including Pink, Falcon, Helix, and Redact. It is unclear if they are the same threat actors behind the vishing campaign.
The bank staffers were reportedly told by the hackers that IT had given urgent orders to update multifactor authentication and passkeys, and directed them to the malicious sites. If the staff followed instructions, they would hand over their passkeys and credentials.
The Google blog post said the threat actors had recently increased their targeting of financial institutions and law firms, adding that they were purely motivated by profit.
“Really, it’s a money thing,” said Austin Larsen, principal threat analyst at Google.
“They think that these firms or organisations have data sensitive enough that, if taken, they would pay to prevent it.”
While Google did not name the victims, Reuters found malicious domains related to the victims on the fake websites.
“They all were likely used in attempted intrusions,” Larsen said generally about the incident.
“They were not all successful.”
Blackstone–HSBC deal
This comes as Blackstone looks to acquire HSBC’s Australian mortgage and loan portfolio in an agreement that will see the bank sell for $36 billion.
Consumer lending firm Pepper Money will oversee the portfolio for the time being, acting as the home and personal loan book servicer following the sale’s completion, which is expected to take place within the first half of 2027.
This isn’t a complete exit from the Australian market for HSBC, which said that its private banking business and asset management services will remain and continue to grow.
“Australia remains an important part of HSBC’s global network. HSBC will continue to invest in and grow its corporate and institutional banking franchise across Australia and New Zealand to support corporates, institutions, superannuation funds, and innovative scale-ups with pursuing their domestic and offshore growth ambitions,” the bank said.
“HSBC will also continue to invest in and grow its asset management and private banking businesses, which will continue to operate in Australia.”
However, the bank said its other Australian businesses not featured in the sale to Blackstone will be “wound down in a phased manner over the next 18 months”, according to HSBC, which added that customers are required to take no action at this stage, and can bank as normal for the time being.
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