Hackers reportedly stole $250,000 from Bangladesh's Sonali Bank in 2013, in what's now the fourth case involving malware attacks and injecting fraudulent money-transfer requests into the SWIFT interbank messaging network.
The business of executive email hacking is booming, with hundreds of millions of dollars lost in fraudulent wire transfers. But businesses can improve their processes to avoid inadvertently transferring funds to fraudsters, according to one expert.
E-commerce retailers face an ongoing battle: Their websites are constantly hit by bots using stolen credentials to try to take over accounts. What can companies do to protect themselves? Akamai's Michael Smith offers advice.
A Japanese ATM cash-out scheme that stole $19 million from South Africa's Standard Bank in less than three hours illustrates why devising better ways to mitigate the risks posed by such schemes must be a priority for financial institutions in markets - including the U.S. - that still rely on mag stripe debit cards.
Cyberattacks have gained regulatory attention worldwide. But the world doesn't need more regulation to address new threats, says Steve Durbin of the Information Security Forum. Instead, government must work more closely with the private sector.
After blaming a recent spate of bank robberies on banks' poor information security practices, SWIFT has changed its tune. Now it says it wants to help financial firms spot related fraud and better share information about unfolding threats.
Neither Australia nor New Zealand currently has laws on the books requiring organizations to notify people affected by data breaches. But both countries do say they are committed to introducing that requirement.
A surge in ransomware attacks on hospitals is driving healthcare organizations large and small - as well as lawmakers and law enforcement agencies - to consider new and improved approaches to dealing with this evolving threat.
The Swiss government says that online attackers used a variant of "Turla" malware - previously tied to campaigns with suspected Russian intelligence ties - to steal at least 23 GB of sensitive information from state-owned defense firm RUAG.
After Kansas Heart Hospital suffered a ransomware infection and paid the demanded ransom, its attackers demanded more. At that point, the hospital reportedly declined to comply, relying instead on its pre-prepared backup and recovery plan.
Too few organizations have in-house incident response teams. As a result, they lack the native ability to even detect evolving threats, such as ransomware, says Ann Barron-DiCamillo of Strategic Cyber Ventures in this video interview. What are the must-have response capabilities?
Officials in several nations are probing the security of the SWIFT interbank messaging system in the wake of recent hacker attacks. Can the bank-owned cooperative better police members, secure access to its network as well as spot emerging hack attacks and fraud?
Another series of SWIFT-enabled hack attacks against a bank has come to light, following the theft of $81 million from the central bank of Bangladesh and SWIFT warning that other banks are also being targeted.
Today's threat actors are more focused, funded and disruptive than ever. But the cybersecurity defense industry is not built to respond appropriately, thought leader Tom Kellermann of Strategic Cyber Ventures says in this video interview. What are security leaders overlooking?