Saturday, December 3, 2016


It is not the first, nor the last time that a bank will get hacked. In this day and age of cyber crime lackluster IT infrastructure and horrible security precautions by financial institutions, it is only a matter of time until the next heist happens. For the Russian Central Bank, that has already happened, although criminals were not entirely successful in their attempt.
To be more specific, the central bank has been targeted by cyber criminals looking to steal nearly 5 billion rubles. That attempt was not successful, even though they succeeded in transferring just under half the intended sum. With US$31m worth of rubles missing, the central bank has a lot of figuring out to do in the coming weeks.
Preliminary investigation results indicate that the hackers had managed to fake a client’s credentials. It remains unknown how this is possible to begin with, although it seems plausible that a social engineering attack was used in the past. Another possibility is that this theft could be an inside job, although it is too early to tell if that is the case.

No comments: