$2.5 Billion Siphoned From Financial Institutions So Far
Wednesday, June 27, 2012
Leading cyber security firm McAfee has issued a startling breaking news report that indicates the U.S., European and Latin American financial systems are under a massive financial attacks that have digitally siphoned some $2.5 billion from thousands of accounts from various financial institutions.
According to McAfee, the attacks are ongoing and international law enforcement agencies are currently working to shut them down:
McAfee and Guardian Analytics have uncovered a highly sophisticated, global financial services fraud campaign that has reached the American banking system. As this research study goes to press, we are working actively with international law enforcement organizations to shut down these attacks.
Unlike standard SpyEye and Zeus attacks that typically feature live (manual) interventions, we have discovered at least a dozen groups now using server-side components and heavy automation. The fraudsters’objective in these attacks is to siphon large amounts from high balance accounts, hence
the name chosen for this research: Operation High Roller.
With no human participation required, each attack moves quickly and scales neatly. This operation combines an insider level of understanding of banking transaction systems with both custom and off the shelf malicious code and appears to be worthy of the term “organized crime.”
This study found 60 servers processing thousands of attempted thefts from high-value commercial accounts and some high net worth individuals. As the attack shifted emphasis from consumers to businesses, mule business accounts allowed attempted transfers averaging in the thousands of Euros, with some transfers as high as €100,000 (US$130,000).
Three distinct attack strategies have emerged as the targets have expanded from the European Union, to Latin America, to the United States.
Debunking the popular wisdom that only big banks are affected, the research documents attacks at every class of financial institution: credit union, large global bank, and regional bank. So far, we estimate the criminals have attempted at least €60 million (US$78 million) in fraudulent transfers from accounts at 60 or more financial institutions (FIs). If all of the attempted fraud campaigns were as successful as the Netherlands example we describe in this report, the total attempted fraud could be as high as €2 billion.
Source: Dissecting Operation High Roller
Video News Report “Biggest cyber bank robbery in history” from Sky News via The Daily Sheeple:
For the last week the Royal Bank of Scotland has been plagued with problems that have made it impossible for its 12 million customers to access cash via ATM’s, maintain their accounts online or to even withdraw money at their local bank branches. Though the issues affecting RBS may be unrelated, they have alarmed many observers as indicators of problems within the European financial and banking systems. Silver Doctors suggests the attack discovered by McAfee may be to blame for the issues experienced by RBS:
Sky News is reporting that McAfee Virus has uncovered a series of financial attacks on US, UK, and Euro-zone banks with individual transfers of over €100,000 being reported.
Is this an extension of RBS’ NatWest’s complete banking system melt-down/ cash account rehypothecation, which is now in its 8th day?
Our thoughts are this is either an Iranian ‘Stuxnet’ retaliation, or a false-flag banking system lock up by the Western Central Banks themselves on which they can conveniently pin the blame for an imminent derivatives induced contagion and banking collapse.
Governments have needed a pretext to tighten banking regulations and gain even more authority over the individual movement of capital. Whether real or a false flag, this cyber attack may very well give them the ammunition they need to take complete control of the internet.
This article was posted: Wednesday, June 27, 2012 at 4:00 am