NICC Sets new requirements for Customer Line Ident... » London: NICC, the UK’s technical forum for telecommunications, has published its updated specificati... First all-amputee team set record with English Cha... » Four Blesma Members have become the first all-amputee team to successfully swim the English Channel.... World of tanks to get race mode » Wargaming has announced the addition of Tank Rally mode to its free-to-play online action game World... Alert Logic launches UK Data Centre » London, UK: Alert Logic has completed its European Data Centre and now available for partners and cu... 20th Anniversary of VAWA: "...the decency of the A... » JB...advancing Bidenism with respect to womenfolks Watch the Video: www.youtube.com/embed/HpL-A6Z... Lord-Lieutenant of Hampshire presents Sonardyne wi... » Lord-Lieutenant of Hampshire presents Sonardyne with Queen’s Award for 6G Sonardyne International L... Rehousing TYphoon Aircraft of Number 1 (Fighter) ... » The Rt Hon Michael Fallon MP, UK Secretary of State for Defence The Typhoon aircraft of Number 1(Fi... Peplink signs distribution agreement with 4Gon » Wireless connectivity innovator and specialist wireless technology distributor form partnership UK:... Independent Scotland: Naked and Alone as UK Counte... » In the great debate on Scottish independence, little has been said by either side as to how a ‘yes’ ... Foundry in Nigeria: Investment Opportunities, Chal... » Introduction For the interest of the uninitiated and to further appreciate the subject, a definitio...

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.