Thursday, June 28, 2012

Biggest Cyber Banking Heist Hits Over 60 Banks Worldwide

Speaking of hacking, over 60 banks suffered from a recent grand scale cyber banking heist.

According to Sky News

Sixty million euro has been stolen from bank accounts in a massive cyber bank raid after fraudsters raided dozens of financial institutions around the world.

According to a joint report by software security firm McAfee and Guardian Analytics, more than 60 firms have suffered from what it has called an "insider level of understanding".

"The fraudsters' objective in these attacks is to siphon large amounts from high balance accounts, hence the name chosen for this research - Operation High Roller," the report said.

"If all of the attempted fraud campaigns were as successful as the Netherlands example we describe in this report, the total attempted fraud could be as high as 2bn euro (£1.6bn)."

The automated malicious software programme was discovered to use servers to process thousands of attempted thefts from both commercial firms and private individuals.

The stolen money was then sent to so-called mule accounts in caches of a few hundreds and 100,000 euro (£80,000) at a time.

Credit unions, large multinational banks and regional banks have all been attacked.

As the the world becomes more interconnected, the cyber space has become ground zero for all sorts of attacks. This includes governments (like Flame and Stuxnet) and all sorts of hackers with different missions, e.g. Wikileaks, Anonymous, Drone hackers, cyber robbers and etc…. Interesting.

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