The global banking industry is facing increasing cyber threat each year. The latest assault started last October 2015 and carried out by a very sophisticated group known as "Lazarus," according to the latest report from cybersecurity firm Symantec.
In recent months, computer hackers have been able to gain a dangerous level of access SWIFT, the worldwide interbank communication network that settles transactions. The last one netted the attackers US$101 million from the central bank of Bangladesh, followed by similar attempts to private banks in Ecuador and Vietnam.
Last 26 May, Symantec revealed that it found evidence hackers used the same computer virus to slip into a bank in the Philippines. Symantec did not name the bank.
Hackers infected desktop computers at the bank, said Eric Chien, technical director of Symantec Security Response. But researchers still aren't sure how hackers slipped in - or if they moved any money.
Symantec researchers say the attack on the Filipino bank happened in October - two months before the attack on Vietnam's Tien Phong Bank, which had been the earliest known attack by these hackers.
The researchers closely examined the computer virus used to attack the bank in Philippines. They found that its complex code shared distinct properties - like specific instructions written in the same words - as the malicious code used to attack Bangladesh Bank.
These particular computer code weapon has been traced to a group that researchers worldwide have nicknamed "Lazarus." It is unclear who they are, there are clues.
The "Lazarus" group of hackers attacked American and South Korean government, finance and media websites in 2009. Cybersecurity firm Novetta carefully documented how "Lazarus" hacked Sony Pictures in 2014, stealing data and destroying computers at the Hollywood movie studio. The U.S. government blamed that hack on the military government of North Korea.
Symantec is now the second highly-respected, major cybersecurity company to link this string of bank hacks to the infamous Sony hack. Two weeks ago, British defense contractor BAE Systems did the same.
There is now widespread industry concern that it's too easy for hackers to attack the global financial system. A few days ago, SWIFT CEO Gottfried Leibbrandt acknowledged that hackers are in a position to bring down banks.
Experts doubt these hackers will be identified - or face any prison time. Computer networks provide them anonymity, and if they're operating in hacker-friendly nations like Russia, they remain outside of law enforcement's grasp.
In recent months, computer hackers have been able to gain a dangerous level of access SWIFT, the worldwide interbank communication network that settles transactions. The last one netted the attackers US$101 million from the central bank of Bangladesh, followed by similar attempts to private banks in Ecuador and Vietnam.
Last 26 May, Symantec revealed that it found evidence hackers used the same computer virus to slip into a bank in the Philippines. Symantec did not name the bank.
Hackers infected desktop computers at the bank, said Eric Chien, technical director of Symantec Security Response. But researchers still aren't sure how hackers slipped in - or if they moved any money.
Symantec researchers say the attack on the Filipino bank happened in October - two months before the attack on Vietnam's Tien Phong Bank, which had been the earliest known attack by these hackers.
The researchers closely examined the computer virus used to attack the bank in Philippines. They found that its complex code shared distinct properties - like specific instructions written in the same words - as the malicious code used to attack Bangladesh Bank.
These particular computer code weapon has been traced to a group that researchers worldwide have nicknamed "Lazarus." It is unclear who they are, there are clues.
The "Lazarus" group of hackers attacked American and South Korean government, finance and media websites in 2009. Cybersecurity firm Novetta carefully documented how "Lazarus" hacked Sony Pictures in 2014, stealing data and destroying computers at the Hollywood movie studio. The U.S. government blamed that hack on the military government of North Korea.
Symantec is now the second highly-respected, major cybersecurity company to link this string of bank hacks to the infamous Sony hack. Two weeks ago, British defense contractor BAE Systems did the same.
There is now widespread industry concern that it's too easy for hackers to attack the global financial system. A few days ago, SWIFT CEO Gottfried Leibbrandt acknowledged that hackers are in a position to bring down banks.
Experts doubt these hackers will be identified - or face any prison time. Computer networks provide them anonymity, and if they're operating in hacker-friendly nations like Russia, they remain outside of law enforcement's grasp.
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