Computer hacking has become a very serious global phenomenal that has negatively impacted the global economy. The recent cyber attack at Sony and Anthem, the second largest health insurance company in US have added an urgency to address this serious problem. The challenges faced by Organizations by this cyber epidemic is so serious that President Obama has called for a sitting of computer security experts to find a solution to this imminent problem.
In a recent report published by New York Times, a malicious malware targeting banks to steal money from depositors was first discovered by Ukrainian bank back in 2013 when the cash ATM machines started dispensing cash randomly and were immediately collected by unknown persons seen on CCTV’s. The banks then consulted Kaspersky Lab, a world famous computer security consulting company to assist in investigating the attack.
The Russian security company subsequently executed an exhaustive study and found that a malware had infected the bank’s internal system and slowly made its way into the core accounting system. The hackers used two means of stealing once it gains control of the accounting system – by electronic transfer or cash dispensing via ATM. The hackers took great patience and care to learn and compromise the internal system without raising any alert that will trigger their presence on the bank’s network. According to Kaspersky’s investigative reports as published by New York Times, about 100 banks were hit in over 30 countries around the world. One Kaspersky’s client lost $7.3 million dollars through ATM withdrawals alone as stated in the report. The moscow-based security firm, Kaspersky Lab plans on The report, which is set to be presented on Monday at a security conference in Cancun, Mexico.