Predictable Techniques Succeed in Big Bank Theft

In a report to be published on Monday, and provided in advance to The New York Times, Kaspersky Lab says it has seen evidence of $300 million (or much more) stolen from more than 100 banks and other financial institutions in Russia, in Japan, the United States, and in at least 27 other nations.

The attack appears to have been initiated via a phishing campaign, followed by long-running surveillance malware, remote access trojans (low and slow), and finally exfiltration of large amounts of money — part via manipulation of bank accounting systems.  …Nothing new there, the story highlights the scale of cyber-crime successes.

The rest of the story will be outlined by Kaspersky on Monday.

Or you can watch a condensed version via YouTube.

This should also be a reminder that there are no security ‘ruby slippers.’  We need to keep rejecting vacuous vendor and pundit preaching about replacing our security perimeters with (pick your hot solution-of-the-moment) ‘the cloud,’ ‘an appliance,’ or some other replacement for common sense, intelligence, and hard work.  Optimizing a layered defense on top of active resistance to phishing (along with all other types of social engineering) and malware remains our primary path to risk-reasonable due diligence.  Announcements of cyber-thefts like the one mentioned above are reminders that there are still tough challenges for all of us in financial services security and risk management.

 

REFERENCES:
“Bank Hackers Steal Millions via Malware.”
By David E. Sanger and Nicole Perlroth, 02-14-2015
http://mobile.nytimes.com/2015/02/15/world/bank-hackers-steal-millions-via-malware.html

Updated 02-16-2015:

Report from Kaspersky:
http://securelist.com/blog/research/68732/the-great-bank-robbery-the-carbanak-apt/
and the full report at http://25zbkz3k00wn2tp5092n6di7b5k.wpengine.netdna-cdn.com/files/2015/02/Carbanak_APT_eng.pdf (downloaded 02-16-2015 @ 1 PM CST)

Video: “The Great Bank Robbery: Carbanak cybergang steals $1bn from 100 financial institutions worldwide.”
https://www.youtube.com/watch?v=ez9LNudxRIU

For some context, see:

The Great Bank Heist, or Death by 1,000 Cuts?, By Brian Krebs, 02-15-2015
https://krebsonsecurity.com/2015/02/the-great-bank-heist-or-death-by-1000-cuts/

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