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Hackers Steal $60 Million from Taiwanese Bank; Two Suspects Arrested

Hackers Steal $60 Million from Taiwanese Bank; Two Suspects Arrested

Oct 11, 2017
A Taiwanese bank has become the latest to fall victim to hackers siphoning off millions of dollars by targeting the backbone of the world financial system, SWIFT. SWIFT, or Society for Worldwide Interbank Telecommunication, is a global financial messaging system that thousands of banks and commercial organizations across the world use to transfer billions of dollars every day. Hackers reportedly last week managed to steal almost $60 Million from Far Eastern International Bank in Taiwan by planting malware on the bank's servers and through the SWIFT interbank banking system. According to Taiwanese state-owned news agency Central News Agency, most of the stolen money has now been recovered, with only $500,000 remaining, and authorities have made two arrests in connection with the bank cyber-heist. Far Eastern on Friday admitted that some unknown hackers managed to install malware on computers and servers within its organization, and most crucially, onto a SWIFT terminal emplo
SWIFT Hack: Bangladesh Bank Recovers $15 Million from a Philippines Casino

SWIFT Hack: Bangladesh Bank Recovers $15 Million from a Philippines Casino

Nov 10, 2016
Part of the $81 Million stolen from Bangladesh bank's New York Federal Reserve account earlier this year in the wake of the major malware attack on the SWIFT interbank transfer network has been tracked down to a casino in the Philippines. SWIFT, or Society for Worldwide Interbank Telecommunication, is a global financial messaging system that thousands of banks and organizations around the world use to transfer billions of dollars every day. In February, hackers dropped a piece of malware on a SWIFT terminal employed by Bangladesh's central bank, obtained credentials needed for payment transfers from the New York Federal Reserve Bank, and then transferred large amount to fraudulent accounts based in the Philippines and Sri Lanka. In March, the investigation revealed that the stolen money was then sold to a black market foreign exchange broker and later transferred to at least 3 local casinos in the Philippines. In September, Philippine court ordered the return of $1
SaaS Compliance through the NIST Cybersecurity Framework

SaaS Compliance through the NIST Cybersecurity Framework

Feb 20, 2024Cybersecurity Framework / SaaS Security
The US National Institute of Standards and Technology (NIST) cybersecurity framework is one of the world's most important guidelines for securing networks. It can be applied to any number of applications, including SaaS.  One of the challenges facing those tasked with securing SaaS applications is the different settings found in each application. It makes it difficult to develop a configuration policy that will apply to an HR app that manages employees, a marketing app that manages content, and an R&D app that manages software versions, all while aligning with NIST compliance standards.  However, there are several settings that can be applied to nearly every app in the SaaS stack. In this article, we'll explore some universal configurations, explain why they are important, and guide you in setting them in a way that improves your SaaS apps' security posture.  Start with Admins Role-based access control (RBAC) is a key to NIST adherence and should be applied to every SaaS a
SWIFT Hackers Steal $10 Million From Ukrainian Bank

SWIFT Hackers Steal $10 Million From Ukrainian Bank

Jun 28, 2016
A Ukrainian bank has become the latest victim of the widespread cyber attack on global banking and financial sector by hackers who target the backbone of the world financial system, SWIFT. Hackers have reportedly stolen $10 Million from an unnamed bank in Ukraine by exploiting the SWIFT international banking system, according to an independent IT monitoring organization called the Information Systems Audit and Control Association (ISACA). Swift or the Society for Worldwide Interbank Financial Telecommunication is the global banking messaging system responsible for managing Billions of dollars in money transfers each day between financial institutions worldwide. The ISACA branch in Ukraine, who has been hired by the targeted bank to investigate the heist, disclosed that some unknown hackers were able to compromise the bank's security in similar way they hacked Bangladesh central bank and stole $81m (£56m), the Kyiv Post reports. "At the current moment, dozens of ba
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Are You Vulnerable to Third-Party Breaches Through Interconnected SaaS Apps?

websiteWing SecuritySaaS Security / Risk Management
Protect against cascading risks by identifying and mitigating app2app and third-party SaaS vulnerabilities.
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