Hackers Steal $1 billion - Biggest Cyber-Heist in History

Hackers Steal $1 billion

| Source: BBC Author: Daan van Monsjou

Hackers Steal $1 billion - Biggest Cyber-Heist in History

About 100 banks and other financial institutions worldwide have become victim in the biggest cyber robbery in history. Since 2013, a team of hackers from Russia, China and Ukraine have stolen an estimated £650 million, or $1 billion(!), and they're still going. The online gang did this by installing viruses on the computers of financial institutions, which makes it possible to steal money directly from the bank (instead of robbing end users).

Kaspersky, a supplier of antivirus software, named the group of hackers 'Carbanak'. The company stated it worked together with Europol and Interpol on the investigation on the hack. It's been stated that the attack was quite vicious. In some cases, Carbanak was able to directly transfer money to temporary bank accounts. They could even make ATMs dispense money at a pre-determined time and date.

Carbanak attacked financial institutions in 30 countries, including the US, Germany, Russia, Ukraine, Canada and China. "These attacks again underline the fact that criminals will exploit any vulnerability in any system," says the director of Interpol's Digital Crime Center, Sanjay Virmani.

The Financial Services Information Sharing and Analysis Center, who warn banks about hacking activity, has stated that its members received a briefing on Kaspersky's 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 minimise any effects on their customers,'' they said in a statement.

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