Hackers Pick Up $300M From 30 Countries In Strategic Attack

Hackers Pick Up $300M From 30 Countries In Strategic Attack

According to Kaspersky Lab’sreport with The New York Times, 100-plus banks in around 30 countries by hit to the tune of $300 million and its all due to powerful malware. At the moment no banks have commented on breaches and as expected, no customers haven’t been notified.

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Kaspersky’s Chris Doggett discussed the attack with The New York Times saying that it was “likely the most sophisticated attack the world has seen to date in terms of tactics and methods.” He also noted that the hackers had to be extremely patient in order to make off with the $300 million.

In execution, the hackers infected bank computers with malware to do the heavy lifting in addition to surveillance software to keep an eye on everything within institutions’ networks. By observing day to day operations, the hackers were able to mimic employees and make whatever transactions they desired. From there, the pilfered funds would be sent through dummy accounts for the attackers to withdraw from.

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The report points out that most of the attack hit banks in Russia but has targeted banks in the U.S, Europe, and elsewhere. While no institutions have touched on breaches from the hack, that Is expected to change by the middle or end of the year when details emerge.

Starting with Kabir News in 2013, James has focused on tech, gaming, and entertainment. When not writing, he enjoys catching up on sci-fi and horror shows and comics. He can be followed on Twitter @MetalSwift.

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