Join the Community

22,128
Expert opinions
44,136
Total members
428
New members (last 30 days)
208
New opinions (last 30 days)
28,711
Total comments

Sophisticated hackers target corporate bank accounts

According to this article yesterday on Computerworld a sophisticated crew of German speaking hackers have conducted a data mining exercise with a difference.

They've trolled through the account details generated by a generic widespread trojan to identify corporate and offshore bank accounts, and have then targeted individual banks and corporate customers with sophisticated phishing emails and customised trojans that mimic human behaviour on each particular bank site to avoid detection by anti-fraud software once they've taken over the account.

As a result, around 20 banks in US, UK, Spain and Italy have been hit for more than $200,000. 

As always, the interviewed security expert's recommendation is to never trust an email from your bank or take action without checking first. But if customers fail to take this low-tech measure, it seems that the hackers (perhaps with inside knowledge of how online banking systems and anti-fraud software tends to work) are becoming sophisticated enough to get around any other high-tech measures that a bank might put in place.

External

This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.

Join the Community

22,128
Expert opinions
44,136
Total members
428
New members (last 30 days)
208
New opinions (last 30 days)
28,711
Total comments

Trending

Tachat Igityan

Tachat Igityan Founder and CFO at destream

Is Fintech Neglecting the Creator Economy?

Luigi Wewege

Luigi Wewege President at Caye International Bank

The Evolving Relationship Between Fintechs and Traditional Banks

Nkahiseng Ralepeli

Nkahiseng Ralepeli VP of Product: Digital Assets at Absa Bank, CIB.

Blockchain Oracles in Payments: The Unsung Heroes.

Now Hiring