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View Full Version : Bank Hackers Steal Millions


connie189
02-15-2015, 06:52 PM
And how they do it (outlined):

http://www.nytimes.com/2015/02/15/world/bank-hackers-steal-millions-via-malware.html?action=click&contentCollection=Europe&module=MostEmailed&version=Full&region=Marginalia&src=me&pgtype=article

Selena
02-17-2015, 01:54 AM
Hacking was happening in the mid/late 90s also - more than one US bank experienced losses (theft). The article neglects to mention that US banks off-shoring/hiring H1-B workers were the cause in the 90s as well as part of the cause today. Not all bank losses are due to external hackers.

connie189
02-17-2015, 02:03 AM
Selena,

Would you have a more comprehensive article that you could post that I could read.

I find this stuff interesting, but apparently not as knowledgeable as you as what to look for. :)

Thanks!

Tim Horton
02-17-2015, 11:12 PM
Local news here is saying as many as 30 banks both US and foreign....
And the loss was a billion or more so far..

I'm starting to think this level of things like this takes much more organization than several guy in a garage or basement anymore... This kind of thing takes a small company size organization with resources only a government could provide to have the where with all, man power, and all to be able to do this size heist..

With thing like the successes groups like ISIS have had lately tells me there are organizations with the depth of ability and resources to do this to support there activities...

Or am I reading too much into this ???

Selena
02-19-2015, 01:52 AM
Selena,

Would you have a more comprehensive article that you could post that I could read.

I find this stuff interesting, but apparently not as knowledgeable as you as what to look for. :)

Thanks!

You're not going to find articles - banks have been very, very good at keeping it quiet about losses due to outsourcing/offshoring and H1-B workers. The dollar amounts, while not small to the average joe, are "small" enough to obscure in financial statements. Losses occur due to "back doors" in computer programs and/or specific knowledge of computer software/hardware.

Selena
02-19-2015, 01:57 AM
Local news here is saying as many as 30 banks both US and foreign....
And the loss was a billion or more so far..

I'm starting to think this level of things like this takes much more organization than several guy in a garage or basement anymore... This kind of thing takes a small company size organization with resources only a government could provide to have the where with all, man power, and all to be able to do this size heist..

With thing like the successes groups like ISIS have had lately tells me there are organizations with the depth of ability and resources to do this to support there activities...

Or am I reading too much into this ???

In reality, a single person could be behind it. The social misfit living in his mother's basement can wreck havoc. It is not unheard of to process 1000+ transactions in a millisecond. The cretin doing the hacking is relying on the resources of the financial institutions to assist in his crime(s).

ISIS, IMHO, has funding from one or more in the oil rich countries. Plus they rely on ransom, which some countries do pay.