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Bangladesh is not the only bank that had become victim to the cyber heist . In fact, it appears to be just a part of the widespread cyber attack on global banking and financial sector by hackers who target the backbone of the world financial system, SWIFT. Yes, the global banking messaging system that thousands of banks and companies around the world use to transfer Billions of dollars in transfers each day is under attack. A third case involving SWIFT has emerged in which cyber criminals have stolen about $12 million from an Ecuadorian bank that contained numerous similarities of later attacks against Bangladesh's central bank that lost $81 Million in the cyber heist . The attack on Banco del Austro (BDA) in Ecuador occurred in January 2015 and, revealed via a lawsuit filed by BDA against Wells Fargo, a San Francisco-based bank on Jan. 28, Reuters reported. Here's how cyber criminals target banks: Uses malware to circumvent local security systems of a bank. Gains acces

Meet this Robin Hood Hacker: Phineas Fisher, who breached Hacking Team last year, revealed on Reddit Wednesday that he hacked a bank and donated the money to Kurdish anti-capitalists in Rojava autonomous region in northern Syria that borders territory held by the ISIS ( Islamic State militant group ). Fisher, also known as "Hack Back" and "@GammaGroupPR," claimed responsibility for both the Hacking Team and Gamma Group data breaches. The vigilant hacker donated 25 Bitcoin (worth around US$11,000) to a crowdfunding campaign known as the Rojan Plan, which has been set up by members of the Rojava's economic committee, described by Fisher as "one of the most inspiring revolutionary projects in the world." Also Read:  Here's How Hackers Stole $80 Million from Bangladesh Bank The funds donated to the campaign came from a bank heist, though the hacker neither revealed the name of the bank nor provided any further details of the bank heist. Whe

The introduction of Open AI's ChatGPT was a defining moment for the software industry, touching off a GenAI race with its November 2022 release. SaaS vendors are now rushing to upgrade tools with enhanced productivity capabilities that are driven by generative AI. Among a wide range of uses, GenAI tools make it easier for developers to build software, assist sales teams in mundane email writing, help marketers produce unique content at low cost, and enable teams and creatives to brainstorm new ideas.  Recent significant GenAI product launches include Microsoft 365 Copilot, GitHub Copilot, and Salesforce Einstein GPT. Notably, these GenAI tools from leading SaaS providers are paid enhancements, a clear sign that no SaaS provider will want to miss out on cashing in on the GenAI transformation. Google will soon launch its SGE "Search Generative Experience" platform for premium AI-generated summaries rather than a list of websites.  At this pace, it's just a matter of a short time befo

SWIFT, the global Society for Worldwide Interbank Financial Telecommunications, warned on Thursday of a second malware attack similar to the Bangladesh central bank hack one that led to $81 million cyber heist. In February,  $81 Million cyberheist at the Bangladesh central bank was carried out by hacking into SWIFT, the global financial messaging system that thousands of banks and companies around the world use to transfer billions of dollars every day. However, the hackers behind the cyber heist appear to be part of a comprehensive online attack on global banking and financial infrastructure. The second attack involving SWIFT targeted a commercial bank, which the company declined to identify. SWIFT also did not immediately clear how much money, if any, was stolen in the attack. However, SWIFT spokeswoman Natasha de Teran said that the second attack and the Bangladesh bank heist contained numerous similarities and were very likely part of a "wider and highly adaptive

A Russian man who spent about 3 years behind bars in the United States has been spared further prison time but ordered to pay $7 Million to cover damages he caused to banks using a vicious computer virus. Nikita Vladimirovich Kuzmin was arrested in 2010 and imprisoned in August 2011 for developing a sophisticated computer malware called Gozi and infecting more than 1 million computers worldwide, causing tens of millions of dollars in losses. Kuzmin was sentenced Monday to the 37 months he has already served in custody, and ordered to pay $6,934,979 that authorities have identified as the damages experienced by two major Banks, one located in the U.S. and the other in Europe, Department of Justice says . Kuzmin received a lighter sentence due to his "substantial assistance" in the investigation that resulted in the conviction of Latvian national Deniss Calovskis as well as the arrest of Romanian Mihai Ionut Paunescu, who is awaiting extradition to the United States.

In Brief Investigators from British defense contractor BAE Systems discovered that hackers who stole $81 million from the Bangladesh Central Bank actually hacked into software from SWIFT financial platform, a key part of the global financial system. The hackers used a custom-made malware to hide evidence and go undetected by erasing records of illicit transfers with the help of compromised SWIFT system. The Bangladesh Bank hackers, who managed to steal $81 Million from the bank last month in one of the largest bank heists in history, actually made their tracks clear after hacking into SWIFT, the heart of the global financial system. SWIFT , stands for the Society for Worldwide Interbank Financial Telecommunications, is a global messaging network used for most international money and security transfers. More than 11,000 Global Banks on HIGH ALERT! Nearly 11,000 Banks and other financial institutions around the World use SWIFT system to send securely and receive payment

In Brief Investigators from the Forensic Training Institute of the Bangladesh investigated the $80 Million bank heist and discovered that the hackers managed to gain access to the network because the Bank was using second-hand $10 network switches without a Firewall to run its network. When it was reported last month that an unknown hacking group attempted to steal $1 Billion from Bangladesh's Federal Reserve bank account with the help of a malware and, in fact, successfully stole over $80 Million , the investigators would not say how the hackers managed to bypass the security solutions on its network. But in reality, there was no security solution installed to help protect against increasingly sophisticated attacks. This lack of security practices made it incredibly easier for the hackers to break into the system and steal $81 Million, though a simple typo (spell error) by hackers halted the further transfers of the $850 Million funds. The network computers that we

Tanvir Hassan Zoha , a 34-year-old security researcher, who spoke to media on the $81 Million Bangladesh Bank cyber theft , has gone missing since Wednesday night, just days after accusing Bangladesh's central bank officials of negligence. Zoha was investigating a recent cyber attack on Bangladesh's central bank that let hackers stole $81 Million from the banks' Federal Reserve bank account. Though the hackers tried to steal $1 Billion from the bank, a simple typo prevented the full heist. During his investigation, Zoha believed the Hackers, who are still unknown, had installed Malware on the bank's computer systems few weeks before the heist that allowed them to obtain credentials needed for payment transfers. With the help of those credentials, the unknown hackers transferred large sums from Bangladesh's United States account to fraudulent accounts based in the Philippines and Sri Lanka. However, at the same time, Zoha accused senior offic

The recent cyber attack on Bangladesh's central bank that let hackers stole over $80 Million from the institutes' Federal Reserve bank account was reportedly caused due to the Malware installed on the Bank's computer systems. Few days ago, reports emerged of a group of unknown hackers that broke into Bangladesh's central bank, obtained credentials needed for payment transfers from Federal Reserve Bank of New York and then transferred large sums to fraudulent accounts based in the Philippines and Sri Lanka. The criminal group was able to steal a total value of about $81 Million from the Federal Reserve's Bangladesh account through a series of fraudulent transactions, but a typo in some transaction prevented a further $850 Million Heist . However, the question was still there: How the Hackers managed to transfer $80 Million without leaving any Trace? Security researchers from FireEye's Mandiant forensics are helping the Dhaka investigat

Typos are really embarrassing, but this time it saved the Bangladesh Central Bank and the New York Federal Reserve by preventing a nearly $1 Billion ( £700 Million ) heist. Last month, some unknown hackers broke into Bangladesh's central bank, obtained credentials needed for payment transfers and then transfer large sums to fraudulent accounts based in the Philippines and Sri Lanka . But… A single spelling mistake in an online bank transfer instruction prevented the full theft, according to Reuters . Here's what actually was happened: Nearly three dozen requests hit the Federal Reserve Bank of New York on 5 February using the Bangladesh Bank's SWIFT code, out of which four resulted in successful transfers, for a total value of about $81 million. However, when the hackers attempted to make their fifth transfer of $20 Million to a Sri Lankan non-governmental organization called the Shalika Foundation , they made a typo by attempting a transfer to the Shalika "

A 26-year-old hacker has been sentenced to 334 years in prison for identity theft as well as mass bank fraud in Turkey, or in simple words, he has been sentenced to life in prison . Named Onur Kopçak , the hacker was arrested in 2013 for operating a phishing website that impersonated bank site, tricking victims into providing their bank details including credit card information. Kopçak's website was part of a big credit card fraud scheme in which he and other 11 operators were making use of the illegally obtained bank account details to carry out fraudulent operations. During his arrest in 2013, Turkish law authorities charged Kopçak with: Identity fraud Website forgery Access device fraud Wire fraud... ...and sentenced him to 199 years 7 months and 10 days in prison, following complaints from 43 bank customers. However, during the investigation, 11 other bank customers also filed complaints about their payment card fraud, thus triggering a new trial

The US government has charged hackers over the largest ever hacking case in financial history. The US Court of the Southern District of New York has charged three men accused of hacking into many financial institutions, including JPMorgan Chase that, according to the officials, was "the largest theft of user data from a U.S. financial institution in history." JPMorgan Chase is one of the world's biggest banks that controls total assets worth more than $2.59 Trillion . The Hackers targeted at least nine financial institutions between 2012 and mid-2015, including JPMorgan Chase, brokerages and a major business news publication, and stolen information of " over 100 Million customers ," Bloomberg reported Tuesday. The three men, including Gery Shalon , Ziv Orenstein , and Joshua Samuel Aaron were charged with 23 counts, including hacking, identity theft, securities fraud, and money laundering, among others. A separate indictment was also

Avoiding Credit Card Fraud is simply easy as long as you use cash. But, what if you even get hacked while withdrawing cash from an ATM? If you are living in Germany or traveling there, then think twice before using your payment cards in the ATMs. Here's why: A Security researcher in Germany has managed to hack ATM and self-service terminal from Sparkasse Bank that allowed him to reveal the sensitive details from the payment card inserted into the machine. Benjamin Kunz-Mejri , CEO of Germany-based security firm Vulnerability Lab , discovered a vulnerability while using a Sparkasse terminal that suddenly ejected his card, and changed status to " temporarily not available. " Meanwhile, the machine automatically started performing software update process in the background. However, Benjamin used a special keyboard combination to trick the ATM into another mode. Benjamin's trick forced ATM system to put update process console (cmd) in the foreground

While accessing your Bank account online, Have you ever thought… ...there could be a Hacker, somewhere in the World, who is after your Money? Maybe NO . Because, you believe that your bank offers Secure banking solution, Right? At The Hacker News, we have reported many incidents of cyber attacks , which proves that Banks are more often being targeted by Hackers, despite robust Banking Security mechanisms. Today we are going to talk about security of one of the  Denmark's Largest Bank , reviewed by Sijmen Ruwhof , an Ethical Hacker, and IT Security Consultant. Ruwhof recently published a blog post, " How I could Hack Internet Bank accounts of Danish Largest Bank in a few minutes ". His In-depth technical post explains the extent to which Danske Bank , one of the largest Danish Bank, is vulnerable to hacking. In August, Ruwhof got intrigued with the idea of testing Bank's security while interacting with a group of Danish hackers at the Chaos Communica

The Existing Infrastructure used by Financial institutions like Banks is Archaic, Slow, and Costly, with hardly any innovation in the past three decades. Nine of the World's renowned Banks, including JPMorgan , Royal Bank of Scotland , Goldman Sachs and Barclays , are collaborating with New York-based financial tech firm R3 to create a new framework based on Bitcoin's Blockchain. Yes, they are back in the game yet again, but this time officially! Blockchain — the public and decentralized ledger technology that underpins all Bitcoin transactions has been now recognized as " the future for financial services infrastructure ". The blockchain technology is a way of keeping records by listing the owner's name with all the previous and present transaction the client was involved. It is a public ledger where a list of all the transactions ever executed is maintained. The Banks are planning to develop and implement Blockchain-like Technology where distributed/shared

The Norwegian police have arrested and charged a 17-year-old for a massive distributed denial-of-service (DDoS) attack earlier this week that disabled the websites of major financial institutions and other businesses in the country. Distributed Denial of Service (DDoS) attack is designed to sabotage, shut down and overload the targeted website with web traffic more than its capacity in order to make it unavailable to users. The attack targeted five major banks, two telecommunication firms, three airlines and one insurance company, as their websites and online payment systems were disrupted. The unnamed teen claimed to be a part of the hacktivist group Anonymous Norway for what was thought to be the country's biggest ever cyber-attack on businesses. Although, the Anonymous Norway, via a Twitter message, has dismissed any connection to him or the cyber attack. The youngster was a resident of Bergen, on Norway's west coast. He was arrested on Thursday morning and que

27-year-old Infamous Moroccan-Russian hacker arrested by Thailand's Department of Special Investigation (DSI)  in Bangkok, accused of cracking Switzerland Bank Computers and websites. Farid Essebar , went by the online screen name " Diabl0 ", has been wanted from last three years, and finally arrested on Tuesday with the joint operation of Thai and Swiss authorities and will be extradited to Switzerland soon. In 2011, He allegedly duplicated the Bank website pages to dupe more than 1,000 people and responsible for damage of $4 Billion and subject to an 'International' arrest warrant for forgery and piracy of financial institutions. '' We arrested the suspect at a condominium on Rama IV Road. Next Thailand will send him to Switzerland within 90 days in accordance with the extradition agreement, '' Police Colonel Songsak Raksaksakul of the Department of Special Investigation said. In 2005, 18-year-old Farid Essebar was arrested b

Despite so many warnings from Microsoft and Cyber Security Experts, Windows XP is still being used by a number of Government organizations, Financial institutions as well as big Corporations all around the world. If we look at the statistics then almost 30% of computers you will find that still run Windows XP , including banks, airline companies, and other huge enterprises, the count in real is likely to be even higher than the estimated. But If you stick with Windows XP after April 8 2014 , you might be at a great risk as XP will take its last breath officially on that day and will die! This fact poses danger to its users as they will be exposed to all kinds of threats. Almost thirteen years after it was 'first released' i.e. April 8 when the Redmond, Washington-headquartered Corporation will stop support for its longest running and most successful OS, Windows XP. Continue using Windows XP after April 8, it will serve you as a Dead Zombie, because Microsoft w

In past months, we have reported about critical vulnerabilities in many wireless Routers including Netgear, Linksys,  TP-LINK, Cisco, ASUS, TENDA and more vendors, installed by millions of home users worldwide. Polish Computer Emergency Response Team (CERT Polska) recently noticed a large scale cyber attack ongoing campaign aimed at Polish e-banking users. Cyber criminals are using known router vulnerability which allow attackers to change the router's DNS configuration remotely so they can lure users to fake bank websites or can perform Man-in-the-Middle attack. ' After DNS servers settings are changed on a router, all queries from inside the network are forwarded to rogue servers. Obviously the platform of a client device is not an issue, as there is no need for the attackers to install any malicious software at all. ' CERT Polska researchers said. That DNS Hijacking trick is not new, neither most of the router vulnerabilities are, but still millions of r

The TorRAT malware was first appeared in 2012 as spying tool only. But from August 2012, Bitcoin Mining feature was added and it became a powerful hacking tool that was commonly associated with attacks on Financial institutions. ab This year TorRat Malware targeted two out of three major Banks in the Netherlands and the  criminals stole over Million Dollars from user' Banking Accounts. The Dutch  police has arrested four men from Alkmaar, Haarlem, Woubrugge and Roden on last Monday, who are suspected of involvement in the large scale digital fraud and money laundering case using TorRat Malware. Using Spear Phishing techniques, gang  targeted the victims to access their computers and the Financial accounts. The gang used anonymous VPN services, Bitcoins, TorMail and the Tor network itself to remain anonymous. Malware is also capable of manipulating the information during online banking , can secretly add new payment orders and also able to modify existing

A very profitable line for mobile malware developers is Android Banking Trojans, which infect phones and steal passwords and other data when victims log onto their online bank accounts. One recent trend is Android malware that attacks users in specific countries, such as European Countries, Brazil and India.  The Antivirus software maker Malwarebytes noticed that a new threat distributed via file sharing sites and alternative markets in the last few months, targets Korean users. Dubbed as ' Android/Trojan . Bank . Wroba ', malware disguises itself as the Google Play Store app and run as a service in the background to monitor events.  " This enables it to capture incoming SMS, monitor installed apps and communicate with a remote server. " According to the researcher, after installation - malware lookup for existence of targeted Banking applications on the device, remove them and download a malicious version to replace. " The malicious v