Cyber attacks target ISIS in a new line of comba... » Security experts react to The New York Times article, “US Cyberattacks Target ISIS in New Line of Co... FAST and V.i. Labs join forces to educate market... » The Federation Against Software Theft (FAST) and long-term industry member V.i. Labs, have launched ... Wick Hill Wins ‘Distributor of the Year’ at IT E... » Woking, Surrey: Wick Hill has won the strongly contested ‘Distributor of the Year’ title at the IT E... Thales delivers digital trust across connected ... » Samsung Developer Conference, San Francisco, CA: Thales has announced that the SAMSUNG ARTIK™ platfo... BeyondTrust contributes threat analytics to the ... » PHOENIX: BeyondTrust has announced today that the 2016 Verizon Data Breach Investigations Report (DB... Construction hoist standard for transporting ... » BSI, the business standards company has revised BS 7212:2016 Code of practice for the safe use of co... FireMon delivers record 2015 Revenue...adds secu... » London, UK: FireMon CEO Jim Lewandowski has announced the security management firm achieved record g... PALFINGER achieves new record levels of revenue » - Revenue grew by 9.1 per cent to EUR 318.8 million - EBIT showed extraordinarily strong increase o... Industry leader covers nearly 700 compliance pol... » London, UK: Tripwire, Inc. has announced that Tripwire® Enterprise coverage for security policy and ... Varonis to stifle ransomware with new threat model... » London, UK: Varonis Systems, Inc. has announced the beta availability of more than 20 new threat mod...

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.