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Home > Weblog > Police Told CNN Money That The Attackers May Be Associated With Northkorea
|Police Told CNN Money That The Attackers May Be Associated With Northkorea
The global banking program is nonetheless under attack.
SWIFT, the messaging network that connects the world banks says it has identified new hacks targeting its members, and it is warning them to strengthen safety in the face of on-going attacks. It did not name the banks changed.
Technological advances are typically great when it comes to your company yet then again they often come with a really heavy financial cost.
The warning follows cyberattacks on banking in Bangladesh, Viet Nam, the Philippines and Ecuador in which malware was used to circumvent local security systems, and in some cases, steal money.
An attack on Bangladesh central bank given $101 million Ecuador's Banco del Austro was hit for $ twelve million.
The message from SWIFT, which was first reported by Reuters, urges banks to protect themselves against the persistent, adaptive and sophisticated attacks, which use a similar approach to decipher their local protection systems.
These weaknesses have been identified and exploited by the attackers, enabling them to undermine the customers' local surroundings and input the deceitful messages, SWIFT said.
SWIFT did not say how many new attacks had been discovered. The company says that its network and core messaging services never have been endangered by the attacks.
In each documented case, the criminals followed the same basic pattern:
Attackers used malware to circumvent lender nearby security methods.
They gained access to the SWIFT messaging network.
Fraudulent messages were sent via SWIFT to initiate cash transfers from accounts at larger banks.
SWIFT CEO Gottfried Leibbrandt warned in May that more attacks could have happened.
The Bangladesh fraud is just not an isolated incident: we are aware of at least two, but possibly more, other cases where fraudsters used the same modus operandi, albeit without the magnificent amounts, he mentioned.
Leibbrandt stated the method of attack is much more serious than typical data breach or theft of customer information. Instead, the loss of control over payment routes could bring down lender.
Mobile devices getting more and more technologically advanced and offer more and more potentialities to their users, now the big question is will this sufficient to replace desktops.
In the recent cases, thieves were able to move just some of those banks overseas assets, he mentioned. As an effect, for the banks concerned, the activities haven't been existential. The point is that they could have been.
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SWIFT is taking extra measures to ensure customer banks, including sharing more information, supporting security audits and introducing tougher requirements for local bank computer networks.
Cybersecurity researchers have proposed a hacking team known as Lazarus is in charge of the attacks. In May, US. Law enforcement officials told CNN Money that the attackers may be linked to North Korea.
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