Technology: $1 Billion Cyber Banking Breech

The hackers of the world are getting greedy. A cybersecurity firm has reported that a hacking ring has stolen nearly $1 billion from banks around the world in what would be one of the biggest banking breaches known. How did they do it? These hackers have been active since 2013 and have infiltrated over 100 banks in 30 countries. “In this case they are not interested in information. They’re only interested in the money,” said Russian security company Kaspersky Lab principal security researcher Vicente Diaz.” They’re flexible and quite aggressive and use any tool they find useful for doing whatever they want to do.” Part of the reason the fraud wasn’t detected soon is that the hackers limited their theft to about $10 million before moving to other banks. Thus far, 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.

Contributor: Phoebe Roe

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