04 Oct '17, 5am

#Financial cyber threats loom large

#Financial cyber threats loom large

FINANCIAL threats are still profitable for cyber criminals and, therefore, continue to be an enduring part of the threat landscape. From financial Trojans that attack online banking, to attacks against automated teller machines (ATMs) and fraudulent interbank transactions, there are many different attack vectors utilised by criminals. As Symantec we had predicted in 2015, there was an increase in attacks against corporations and financial institutions during 2016. This was evident from a series of high-value heists targeting Society for Worldwide Interbank Financial Telecommunication (Swift) customers. While there is no evidence of any such high value heists on Swift customers this year, the 2016 attacks saw several such institutions lose millions of dollars to cyber criminals and nation state-supported attackers such as the Lazarus group. On average, 38 per cent of the fi...

Full article: http://www.businesstimes.com.sg/hub/empowering-enterprise...

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