Attackers Use SWIFT System to Hack Global Banks

...

Hackers have reportedly infected as many as 20 organizations with malware in an attempt to take down the global financial system.

According to Symantec, the group—dubbed Odinaff—is robbing banks using fraudulent SWIFT (Society for Worldwide Interbank Financial Telecommunication) messages. SWIFT is used for a majority of international interbank communication, and enables global financial institutions to send and receive information about transactions in a secure, standardized environment.

Attackers, however, have repeatedly overcome local security measures to enter the SWIFT system, generate money orders from various banks, and send millions to fraudulent accounts.

"Since January, discreet campaigns involving malware called Trojan.Odinaff have targeted financial organizations worldwide," Symantec Security Response wrote in a blog post.

Invasions appear to be focused on those in the banking, securities, trading, and payroll sectors, as well as companies providing support services, and most frequently target the US, Hong Kong, Australia, the UK, and Ukraine.

Symantec noted a potential connection to Carbanak, a sophisticated hacker who has plagued the financial industry since at least 2013. "Although difficult to perform, these kinds of attacks on banks can be highly lucrative," the blog said. "Estimates of total losses to Carbanak-linked attacks range from tens of millions to hundreds of millions of dollars."

As Reuters points out, the hacking of SWIFT messages is the same approach that generated $81 million in a February attack on Bangladesh's central bank. No additional victims have been identified.

SWIFT did not immediately respond to PCMag's request for comment. A spokeswoman, however, told Reuters that the cooperative's customer security intelligence team warned members about Odinaff's activities over the summer.

Categories
GAMES
0 Comment

Leave a Reply

Captcha image


RELATED BY

  • 5300c769af79e

    Data Analytics with Hadoop: O'Reilly Ebook

    Download This book is meant as a survey of the Hadoop ecosystem and distributed computation intended to arm data scientists, statisticians, programmers, and folks who are interested in Hadoop with just enough knowledge to make them dangerous.Use this book as a guide as you dip your toes into the world of Hadoop and find the tools and techniques that interest you the most, be it Spark, Hive, Machine Learning, ETL, Relational Databases, or one of the other many topics related to cluster computing.
  • 5300c769af79e

    T-Mobile Extends Offer of Free High-Speed Data in South America and Europe Until 2017

    Specifically, customers on a post-paid account receive this benefit at no extra cost, while also not having to activate or deactivate the feature.Now, do note that T-Mobile’s “unlimited” LTE data does not qualify for users attempting to tether.
  • 5300c769af79e

    Small World 2 (for Android)

    ) but still have a lust for conquest, consider Small World 2.Note that it doesn't include any of the elements from the Small World Underground or Small World Realms expansions to the physical game.
  • 5300c769af79e

    New Tech Promises Longer-Lasting Batteries

    If there is one thing that is on every smartphone owner's wish list, it's a longer-lasting battery.The 4-year-old firm developed a rechargeable lithium metal battery, which it claims can double the energy capacity of a regular lithium ion battery found in most modern gadgets.