Lazarus may be responsible for Bangladesh Central Bank hack
The group that tried to steal a million dollars from the Vietnamese Tien Phong Bank, managed to steal $81 million from Bangladesh's Central Bank, and managed to steal $12 million from a bank in Ecuador, also attacked a bank in the Philippines.
However, it remains unclear if the group actually managed to steal any money from this bank or not. What we do know, though, is that all these attacks seem to be pointing at the same hacking group, known as Lazarus.
Financial services believe blockchain is the biggest innovation since the Internet
Blockchain is the most important innovation since the creation of the internet, almost two thirds (60 percent) of global financial services retailers with some knowledge of the technology said.
That’s a bold claim.
You could be held liable for cases of bank fraud if your online security isn’t up to scratch
If you need another reason to pay attention to online security, new measures under consideration by banks could sharpen your focus. At the moment, banks in the UK frequently shoulder the cost of online fraud when customers fall victim. But all this could be set to change.
The plans being looked at by banks, GCHQ and the UK government could see people who haven’t taken care of their own online security being excluded from receiving compensation if their account is hacked.
Hackers going after Middle East banks
Researchers at the US cybersecurity company FireEye have discovered that hackers have begun to probe the defenses of banks in the Middle East by targeting bank employees with malware-infected emails to collect information about bank networks and user accounts.
The company started an investigation into the cyberattack in February in which hackers were able to steal $81 million from Bangladesh’s central bank. FireEye found no apparent connection between that attack and the similar attacks against banks in Vietnam and Ecuador. Currently in all three cases the hackers responsible for the attacks are unknown.
98 percent of Brits are happy with their bank
Pretty much everyone in the UK is satisfied with their banks and the services those banks offer, Juniper Research confirmed this week.
According to the market analysts' research, 98 percent of those surveyed said they were either "happy", or "quite happy" with their service. Juniper failed to mention the size of the group it surveyed, though.
Anonymous teams up with GhostSquad to attack major banks
Anonymous has joined forces with GhostSquad to launch successful cyberattacks on eight international banks that were forced to shut down their websites.
The hacktivist collective alongside the hacker group GhostSquad have launched a new operation called Op Icarus which aims to punish corrupt banks and individuals in the financial sector.
Tech companies could disrupt financial industry
People would gladly take banking services from tech companies such as Google, Amazon or Facebook, a new survey has shown.
According to a new Europe-wide study by Fujitsu, the digital transformation keeps disrupting the financial industry, and if traditional service providers fail do adapt on time, tech disruptors will step in.
Malware compromises Swift system -- patch available
The Swift (Society for Worldwide Interbank Financial Telecommunication) system has apparently fallen victim to the same sophisticated hacking scheme that was used to disrupt the Bangladesh central bank last month.
The cyberattack in Bangladesh resulted in a loss of $951 million from the central bank's account at the Federal Reserve in New York and it now seems likely, thanks to new research from BAE systems, that Swift was also compromised during the attack.
Why ATMs are easy to hack
Security researchers claim ATM machines are usually not that difficult for hackers to penetrate. Once they’re inside, they can steal money, or banking details from unsuspecting victims.
Now, researchers from Kaspersky Lab have investigated what makes ATMs such an easy target for hackers, and came to two conclusions: both software and hardware are easy to access and temper with.
Many Brits now do not trust online banking
Almost half of people living in the UK (48 percent) fear either their identities, or their banking data will be stolen. Those are the results of a new survey from financial technology company Intelligent Environments. According to the report, the fear is well founded, with 20 percent of Britons being victims to some type of cyber-crime, either identity theft or bank details theft.
The report reveals a cybersecurity map of Britain. In it, it says that Birmingham is most concerned with cybersecurity, with 57 percent fearing banking information theft, and 59 percent identity theft. Birmingham is followed by Newcastle and Cardiff.
Android Trojan targets customers of major banks and can bypass 2FA
Researchers at security company ESET have uncovered a new strain of Android malware that can steal the login credentials of mobile banking users.
Named Android/Spy.Agent.SI, the malware presents victims with a fake version of the login screen of their banking application and locks the screen until they enter their username and password.
Some smartphone users would not be 'upset' by data theft
There are two kinds of people in this world, and I don’t mean those who can read binary and those that cannot. I’m thinking about those who are aware of the security risks smartphones pose, and those who aren’t.
And according to a new survey by security firm Norton, the world is literally split in half over this -- 56 percent of those surveyed say the prospect of the financial and banking information stored on their phone being hacked is "upsetting". Meaning, for the remaining 44 percent it’s not upsetting.
Android banking and payment apps at risk from Acecard Trojan
A new Android banking Trojan is now bypassing Google Play security measures -- the Acecard Trojan is capable of attacking users of nearly 50 different online financial applications and services.
During the last quarter of 2015 researchers at Kaspersky Lab detected an unusual increase in the number of mobile banking attacks in Australia. The suspicious activity was discovered to be the result of a single banking Trojan called Acecard.
Everything you need to know about SIM swap scams
In today’s mobile-centric world, using mobile phones for Internet banking is standard practice for most people, but do customers know they could be at risk of a new type of scam?
SIM swap fraud, where scammers cancel and re-activate new SIM cards to hack into bank accounts, is reportedly on the rise.
Online banking: How secure is it?
The latest bank in the UK to fall victim to a distributed denial of service (DDoS) attack was HSBC. It claimed that no customer data was compromised. In July last year, RBS and NatWest were also hit by DDoS attacks, which flooded their websites with traffic, temporarily shutting them down. This resulted in bad publicity and complaints from many customers. Fortunately, customer accounts were not compromised so the bad publicity was all the damage the attack caused.
DDoS attacks, where bad guys flood a website with so much work that they fold under the pressure, aren’t even strictly a security issue on their own. Unless the DDoS is part of a recipe to steal stuff, it’s a nuisance that is more about someone flexing their muscles than doing damage. Luckily in the cases of RBS, NatWest, and HSBC, no data was stolen; however, they do raise the question of whether online banking is secure. So is there a security issue at hand?
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