Network Utilities becomes first UK Pulse Secure NA... » UK: Pulse Secure  has announced Network Utilities (Systems) Ltd as the first Secure Premier partner ... SentinelOne Establishes $1 million cyber threat ... » PALO ALTO, CA: SentinelOne has announced a cyber threat protection guarantee to provide customers wi... New study reveals software pricing and licensing t... » Maidenhead, UK: The enterprise software marketplace is undergoing a massive transformation as the pr... 380 MOBOTIX Outdoor Cameras installed at ancient R... » Langmeil, Germany:  Pompeii is the world-famous ancient Roman city near modern Naples which may rece... LOCKEN extends frontiers of access control beyond ... » As the digital era continues to evolve businesses are increasingly looking to expand access control ... Liverpool to host Armed Forces Day 2017 » The ninth annual Armed Forces Day, honouring the work and dedication of our brave Servicemen and w... OF FOOLS OF THE MIDDLE BELT, ONE NORTH AND PASTORA... » PART FIVE A treatise on pastoral jihadism, islamism, arabism and cultural imperialism in Nigeria ... Dimension data helps police keep Tour de Yorkshi... » Tracking and data technology on police cars, motorcycles, and vans helped lead, surround, and follow... Al Murabit Security Services first Iraqi company... » Baghdad: Al Murabit Security Services (“AMS”) and its sister company Al Thaware Security Services (“... Optex Systems locks in $518,000 shipment to Brazil » RICHARDSON, TX: Optex Systems, Inc. has announced that it has completed its first shipments of its p...

CLICK HERE TO

Advertise with Vigilance

Got News?

Got news for Vigilance?

Have you got news/articles for us? We welcome news stories and articles from security experts, intelligence analysts, industry players, security correspondents in the main stream media and our numerous readers across the globe.

READ MORE

Subscribe to Vigilance Weekly

Information Security Header

According to US Attorney Loretta Lynch, "This was indeed the largest theft of this type that we have yet seen. This was a 21st century bank heist that reached through the Internet to span the globe. But, instead of guns and masks, this cybercrime organization used laptops and malware."

 

According to George Tubin, Senior Security Strategist, Trusteer, “It appears the criminals in this case used advanced malware to breach the corporate network of two unnamed credit card processors that process prepaid debit card transactions. This type of breach almost always starts with an employee PC being compromised with malware in order to gain a foothold into the corporate network. Once inside the corporate network, the criminals can do what they want - and this massive heist clearly demonstrates the free reign afforded the cybercriminals to alter highly sensitive, highly protected information to ultimately steal $45 million. Despite using market-leading endpoint and network protection solutions most large enterprises are (knowingly or unknowingly) still breached by advanced malware.”

Tubin continued, “The only way to prevent these attacks is to prevent advanced, information-stealing malware from compromising employee endpoints - the weakest link in the security chain - and then moving the attack inside the corporate network. Corporate breaches can only be prevented by stopping malicious files from invisibly sneaking onto employee computers through both unknown and unfixed software flaws (aka, vulnerabilities). Because, once malware infects the user's computer, it's game over.”

“While this particular crime was highly visible due to the stolen funds, many corporate breaches go unnoticed as sensitive corporate data and highly valuable intellectual property are siphoned electronically out of the corporate network”, he said.