Wednesday, February 18, 2015

How to Fight the Next $1 Billion Bank Hack

Good news! A major hack you don’t have to worry about! Unless, that is, you happen to be an executive or security employee at one of the hundreds of banks targeted by the group that’s come to be known as Carbanak or Anunak. If you are, then you have a problem, because these hackers, and no doubt others to come, aren’t targeting banking consumers but the very internals of banks, silently monitoring their systems and subtly defrauding them. Unlike most cybercrime, this wasn't a holdup, but a bank heist—the kind that could ultimately affect both consumers and governments. And that’s why we should all be paying attention.

Monday, February 16, 2015

Fraud alert: What TurboTax users need to know now

Earlier this month, just as tax season was nearing its peak, 19 states and Intuit — the maker of TurboTax software — noticed a surge of fraudulent state-tax filings prepared with TurboTax. The company responded by suspending electronic transmission of state returns for about 24 hours on Feb. 5 and 6.

The Federal Bureau of Investigation is working to determine who was behind the filings, and if they used illegally obtained personal data to secure bogus refunds. There are signs the fraud also may involve federal returns, say experts and some taxpayers.

In some cases, the fraudulent state and federal filings include data apparently taken from TurboTax clients’ 2013 tax returns, according to state tax officials and taxpayers.

Malware hack could be the biggest bank heist ever

Banks in Russia, Japan, the US, and Europe have apparently succumbed to a massive, sophisticated malware hack that allowed the perpetrators to steal hundreds of millions of dollars since 2013.

Hack could be the largest bank heist ever

According to a Kaspersky Labs report that was sent to the New York Times, around 100 banks in 30 countries were affected by the security breach, with more than $300 million stolen in total.

No banks have come forward to even acknowledge the theft however, but experts are calling the attack possibly one of the largest bank heists ever carried out.

Hackers Steal $1 Billion in Massive, Worldwide Breach (Time)

A prominent cybersecurity firm says that thieves have infiltrated more than 100 banks in 30 countries over the past two years

Hackers have stolen as much as $1 billion from banks around the world, according to a prominent cybersecurity firm. In a report scheduled to be delivered Monday, Russian security company Kaspersky Lab claims that a hacking ring has infiltrated more than 100 banks in 30 countries over the past two years.

Kaspersky says digital thieves gained access to banks’ computer systems through phishing schemes and other confidence scams. Hackers then lurked in the institutions’ systems, taking screen shots or even video of employees at work. Once familiar with the banks’ operations, the hackers could steal funds without raising alarms, programming ATMs to dispense money at specific times for instance or transferring funds to fraudulent accounts. First outlined by the New York Times, the report will be presented Monday at a security conference in Mexico.