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It used to be anecdotal that hackers can change the integrity of data in a bank account or steal your money if they get into the electronic system. I have heard many credible accounts of intrusions into systems where the intruders are able to change the integrity of the data—that means that if the balance…

Cybersecurity specialists at BAE Systems and Symantec announced last week new evidence suggesting that the criminals behind the notorious 2014 attack on Sony Corp. are also responsible for recent cyber-attacks involving 104 organizations in 31 countries. Researchers and investigators have long attributed the 2014 Sony attack, which crippled computer systems and revealed internal emails, to the North Korea-linked group known as “Lazarus.” Malware recently discovered running on the computers of a Polish bank suggest that the Lazarus group is now targeting global financial institutions using a sophisticated “watering hole” technique.
Continue Reading Sony Cyber-Attackers Lurking at Financial Supervisor “Watering Hole” Target Banks and Others

As cyber-attacks involving the global payment system SWIFT increase in frequency abroad, U.S. regulators are discussing steps designed to protect against similar attacks on U.S. financial institutions. The Federal Reserve, Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. issued a joint letter last week to Representative Carolyn Maloney (D-NY) of…

An unnamed bank in Ukraine is the most recent victim in a series of cyber-attacks exploiting vulnerabilities in the international banking communications system. According to an independent IT monitoring organization, hackers stole approximately $10 million by breaking into the Ukrainian bank’s internal network and submitting fraudulent money orders via SWIFT, the messaging system responsible for…