Hackers steal up to $1 billion from banks, security co.

says (Update)

http://phys.org/news/2015-02-hackers-billion-banks.html

Home
Technology
Security
February 15, 2015
Hackers steal up to $1 billion from banks, security co. says (Update)
Feb 15, 2015 by By Mae Anderson

Enlarge
Credit: George Hodan/Public Domain
A hacking ring has stolen up to $1 billion from banks around the world in what would be one of the biggest banking breaches known, a
cybersecurity firm says in a report scheduled to be delivered Monday.

1 of 13

17-02-15 08:35

Hackers steal up to $1 billion from banks, security co. says (Update)

http://phys.org/news/2015-02-hackers-billion-banks.html

The hackers have been active since at least the end of 2013 and infiltrated more than 100 banks in 30 countries, according to Russian
security company Kaspersky Lab.
After gaining access to banks' computers through phishing schemes and other methods, they lurk for months to learn the banks' systems,
taking screen shots and even video of employees using their computers, the company says.
Once the hackers become familiar with the banks' operations, they use that knowledge to steal money without raising suspicions,
programming ATMs to dispense money at specific times or setting up fake accounts and transferring money into them, according to
Kaspersky. The report is set to be presented Monday at a security conference in Cancun, Mexico. It was first reported by The New York
Times.
The hackers seem to limit their theft to about $10 million before moving on to another bank, part of the reason why the fraud was not
detected earlier, Kaspersky principal security researcher Vicente Diaz said in a telephone interview with The Associated Press.
The attacks are unusual because they target the banks themselves rather than customers and their account information, Diaz said.
The goal seems to be financial gain rather than espionage, he said.
"In this case they are not interested in information. They're only interested in the money," he said. "They're flexible and quite aggressive
and use any tool they find useful for doing whatever they want to do."
Most of the targets have been in Russia, the U.S., Germany, China and Ukraine, although the attackers may be expanding throughout
Asia, the Middle East, Africa and Europe, Kaspersky says. In one case, a bank lost $7.3 million through ATM fraud. In another case, a
financial institution lost $10 million by the attackers exploiting its online banking platform.
Kaspersky did not identify the banks and is still working with law-enforcement agencies to investigate the attacks, which the company
says are ongoing.
The Financial Services Information Sharing and Analysis Center, a nonprofit that alerts banks about hacking activity, said in a statement
that its members received a briefing about the report in January.
"We cannot comment on individual actions our members have taken, but on balance we believe our members are taking appropriate
actions to prevent and detect these kinds of attacks and minimize any effects on their customers," the organization said in a statement.

2 of 13

17-02-15 08:35

Hackers steal up to $1 billion from banks, security co. says (Update)

http://phys.org/news/2015-02-hackers-billion-banks.html

"The report that Russian banks were the primary victims of these attacks may be a significant change in targeting strategy by Russianspeaking cybercriminals."
The White House is putting an increasing focus on cybersecurity in the wake of numerous data breaches of companies ranging from mass
retailers like Target and Home Depot to Sony Pictures Entertainment and health insurer Anthem.
The administration wants Congress to replace the existing patchwork of state laws with a national standard giving companies 30 days to
notify consumers if their personal information has been compromised.
Explore further: Over 100 banks hit by sophisticated cyberattack: report

view popular
4.3 /5 (18 votes)

2015 The Associated Press. All rights reserved.

Tweet

Featured
Popular
Most shared
Iconic graph at center of climate debate

3 of 13

17-02-15 08:35

Hackers steal up to $1 billion from banks, security co. says (Update)

Feb 14, 2015

http://phys.org/news/2015-02-hackers-billion-banks.html

146
'Cloud' over Mars leaves scientists baffled

13 hours ago

34
Possible discovery in 2015 of a new particle in physics

Feb 15, 2015

36
Over 100 banks hit by
sophisticated cyberattack:
report

Feb 14, 2015

24

World's first rotary 3-D printer-cum-scanner unveiled at AAAS meeting

Feb 15, 2015

13

Phys.org on facebook
Relevant PhysicsForums posts
is it possible to create a specific wavelength
1 hour ago

Why do things far away seem smaller?

1 hour ago

4 of 13

17-02-15 08:35

Hackers steal up to $1 billion from banks, security co. says (Update)

http://phys.org/news/2015-02-hackers-billion-banks.html

Optimised Shin Guard for Slalom Skiing

2 hours ago

Total kinetic energy

4 hours ago

Difference between images produced by gravitational lensing

4 hours ago

Mass v Weight, Earth Moon and Space.

4 hours ago

More from General Physics

Top
Send Feedback

Related Stories
Over 100 banks hit by sophisticated cyberattack: report
20 hours ago

A sophisticated global cyberattack struck more than 100 banks in 30 countries stealing hundreds of millions
of dollars, The New York Times reported Saturday.
'Phishing' scams explode worldwide, researchers shows

5 of 13

17-02-15 08:35

Hackers steal up to $1 billion from banks, security co. says (Update)

http://phys.org/news/2015-02-hackers-billion-banks.html

Jun 21, 2013

Those insidious email scams known as phishing, in which a hacker uses a disguised address to get an Internet user to install malware, rose
87 percent worldwide in the past year, a security firm said Friday.
Several US banks attacked by hackers who hit Chase
Oct 08, 2014

Several US financial institutions were targeted by the same computer hackers who breached the systems of JPMorgan Chase earlier this
year, sources familiar with the matter said Wednesday.
Hackers hit bank. Is your money safe anywhere?
Oct 03, 2014

Hackers stole personal information from millions of JPMorgan Chase customers this summer, in one of the
biggest breaches of a financial company.
More hackers targeting mobile phones to get bank info, survey says
Oct 21, 2014

Hackers are increasingly targeting mobile phones to get into bank accounts of victims and steal money,
security researchers said Tuesday.
Is your doctor's office the most dangerous place for data? (Update)
Feb 09, 2015

Everyone worries about stolen credit cards or hacked bank accounts, but just visiting the doctor may put you

6 of 13

17-02-15 08:35

Hackers steal up to $1 billion from banks, security co. says (Update)

http://phys.org/news/2015-02-hackers-billion-banks.html

at greater risk for identity fraud.

Recommended for you

Over 100 banks hit by sophisticated cyberattack: report
Feb 14, 2015

A sophisticated global cyberattack struck more than 100 banks in 30 countries stealing hundreds of millions
of dollars, The New York Times reported Saturday.
Social network analysis privacy tackled
Feb 14, 2015

Protecting people's privacy in an age of online big data is difficult, but doing so when using visual
representations of such things as social network data may present unique challenges, according to a Penn ...
Obama calls for public debate over encryption
Feb 14, 2015

President Barack Obama said Friday that he probably leans more toward strong computer data encryption than
many in law enforcement, but added that he understands investigators' concerns over the matter because ...
Many perils for online love seekers
Feb 13, 2015

Advice for people seeking love on the Internet for Valentine's Day: keep looking, but watch for scams and
other risks.
7 of 13

17-02-15 08:35

Hackers steal up to $1 billion from banks, security co. says (Update)

http://phys.org/news/2015-02-hackers-billion-banks.html

To combat fraud, Visa wants to track your smartphone

Feb 13, 2015

Those days of calling your bank to let them know that, yes, you really are in Thailand, and yes, you really did
use your credit card to buy $200 in sarongs, may be coming to an end.
Insurer Anthem offers layers of identity theft protection (Update)
Feb 13, 2015

Anthem Inc. is offering several levels of free identity theft protection to current and former customers after
hackers broke into a database storing information for about 80 million people.

User comments : 3
0

Adjust slider to filter visible comments by rank

Display comments: newest first
Newbeak

1 / 5 (1) Feb 15, 2015

$1 Billion is chump change to banks,a cost of doing business. At least they make good on any funds purloined from your checking
account..
Baseline

8 of 13

17-02-15 08:35

Hackers steal up to $1 billion from banks, security co. says (Update)

http://phys.org/news/2015-02-hackers-billion-banks.html

not rated yet 18 hours ago

Give them 30 days to notify their customers that their information is compromised? By then all your money could be gone and thousands
charged to credit lines.
indio007

not rated yet 12 hours ago

$1 Billion is chump change to banks,a cost of doing business. At least they make good on any funds purloined from your
checking account..
Especially when the "money" is created by keystroke.
Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Sign in

Click here to reset your password.

Sign in to get notified via email when new comments are made.
Javascript is currently disabled in your web browser. For full site functionality, it is necessary to enable Javascript. In order to enable it, please see these instructions.

9 of 13

17-02-15 08:35

Hackers steal up to $1 billion from banks, security co. says (Update)

http://phys.org/news/2015-02-hackers-billion-banks.html

Profile
Newsletter
Favorites
Activity
PM
My news
Sign In
Register

Physics
All Physics
General Physics
Condensed Matter
Optics & Photonics
Superconductivity
Plasma Physics
Soft Matter
Quantum Physics
10 of 13

17-02-15 08:35

Hackers steal up to $1 billion from banks, security co. says (Update)

http://phys.org/news/2015-02-hackers-billion-banks.html

Nanotechnology
All Nanotechnology
Bio & Medicine
Nanophysics
Nanomaterials
Earth
All Earth
Earth Sciences
Environment
Astronomy & Space
All Astronomy & Space
Astronomy
Space Exploration
Chemistry
All Chemistry
Biochemistry
Polymers
Analytical Chemistry
Materials Science
Other
Biology
All Biology
Plants & Animals
Evolution
Ecology
Cell & Microbiology
Biotechnology
Other
Technology
All Technology
Internet
Software
11 of 13

17-02-15 08:35

Hackers steal up to $1 billion from banks, security co. says (Update)

http://phys.org/news/2015-02-hackers-billion-banks.html

Consumer & Gadgets

Hardware
Business
Robotics
Engineering
Semiconductors
Other
Telecom
Energy & Green Tech
Computer Sciences
Hi Tech & Innovation
Security
Other Sciences
All Other Sciences
Mathematics
Archaeology & Fossils
Other
Social Sciences
Economics & Business
Medicine & Health

Top
Home
Medical Xpress
Search
Help
FAQ
About
Contact

12 of 13

17-02-15 08:35

Hackers steal up to $1 billion from banks, security co. says (Update)

http://phys.org/news/2015-02-hackers-billion-banks.html

Phys.org Account
Sponsored Account
Newsletter
RSS feeds
Feature Stories
Weblog & Reports
Podcasts
Archive
iPhone iPad Apps
Blackberry App
Android App & Widget
Amazon Kindle
PDA version

Privacy Policy
Terms of Use
Phys.org 2003- 2015, Science X network

13 of 13

17-02-15 08:35