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Real-World SS7 Attack — Hackers Are Stealing Money From Bank Accounts

Real-World SS7 Attack — Hackers Are Stealing Money From Bank Accounts
May 04, 2017
Security researchers have been warning for years about critical security holes in the Signaling System 7 (SS7) that could allow hackers to listen in private phone calls and read text messages on a potentially vast scale, despite the most advanced encryption used by cellular networks. Cellular networks, on the other hand, have consistently been ignoring this serious issue, saying that it is a very low risk for most people, as the exploitation of the SS7 flaws requires significant technical and financial investment. But some unknown hackers have just proved them wrong by recently exploiting the design flaws in the SS7 to drain victims' bank accounts, according to a report published Wednesday by German-based newspaper Süddeutsche Zeitung. SS7 is a telephony signaling protocol created in the 1980s by telcos and powered more than 800 telecom operators across the world, including AT&T and Verizon, to interconnect and exchange data, like routing calls and texts with one a

Report: German Bank ATMs vulnerable to Hackers

Report: German Bank ATMs vulnerable to Hackers
Nov 02, 2015
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

Cybersecurity Tactics FinServ Institutions Can Bank On in 2024

Cybersecurity Tactics FinServ Institutions Can Bank On in 2024
Feb 14, 2024Financial Security / Cyber Threats
The landscape of cybersecurity in financial services is undergoing a rapid transformation. Cybercriminals are exploiting advanced technologies and methodologies, making traditional security measures obsolete. The challenges are compounded for community banks that must safeguard sensitive financial data against the same level of sophisticated threats as larger institutions, but often with more limited resources. The FinServ Threat Landscape Recent trends show an alarming increase in sophisticated cyber-attacks. Cybercriminals now deploy advanced techniques like deep fake technology and AI-powered attacks, making it increasingly difficult for banks to differentiate between legitimate and malicious activities. These developments necessitate a shift towards more sophisticated and adaptive cybersecurity measures. Take these industry statistics, for example. Financial firms report 703 cyberattack attempts per week.1 On average, 270 attacks (entailing unauthorized access of data, appl

Researcher warns about Security Loopholes in Denmark's Largest Bank

Researcher warns about Security Loopholes in Denmark's Largest Bank
Oct 06, 2015
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 Critical State of AI in the Cloud

cyber security
websiteWiz.ioArtificial Intelligence / Cloud Security
Wiz Research reveals the explosive growth of AI adoption and what 150,000+ cloud accounts revealed about the AI surge.
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