SUMMARY:
In the article, “Bank Hackers Steal Millions via Malware” published by David E. Sanger and Nicole PerlRoth, explains how multiple banks around the world’s internal computers used by employees which process daily transferred and is used for bookkeeping was penetrated by malware for months and allowed cybercriminals to record their every move and send video feeds and images to the group controlling malware how the bank conducted its daily routines. It explains that malware penetrated the walls of over “100 banks and other financial institutions in 30 nations and could be recorded as one of the largest bank thefts ever - and one conducted without the usual signs of robbery” (Sanger and PerlRoth). For example, the Kaspersky Lab states that there is evidence of 300 million in theft through clients, and that the total amount stolen could be triple that number. I feel that, it is unbelievable that this ongoing theft was undetected for months given the immense amount of money stolen. The main idea of this article is, that advances in technology has caused new and easier ways for people to commit crimes. In this particular case, a group of individuals were able to steal large sums of money from multiple banks just back easily hacking into their systems and using their system malware to transfer and steal the money.
ANALYSIS:
I was surprised that no bank has come forward acknowledging the theft yet, I find it difficult to believe that many of these banks did not notice that millions of dollars were being robbed from their bank for months. This article reminded me of the advances in technology that allow criminal activity to become almost untraceable and unseen, as well as, how easy it has become for people to hack into certain companies’ private systems. I feel that, it is unbelievable that this ongoing theft was undetected for months given the immense amount of money stolen.
DISCUSSION QUESTIONS:
Because of this, do you believe banks will increase their security both in the buildings themselves, and through their computers?
Why do you think no bank has come forward acknowledging a theft?
LINK TO ARTICLE:
http://www.nytimes.com/2015/02/15/world/bank-hackers-steal-millions-via-malware.html?ref=business&_r=0
I really believe that the banks should focus more on their technology based security. They should not have every single computer linked to each other, but rather have smaller groups of computers that are linked together to receive similar information. This would mean that if one computer was hacked only a small group in the network would be affected, not the whole entire company.
ReplyDeleteI think it is really weird that none of the banks have acknowledged that this has happened. Maybe it is because they don't want to admit that they were fooled for this long and also they don't want to because they don't want their clients to feel unsafe with their money in the bank.
ReplyDelete