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Cyberthieves Looted A.T.M.’S Of $45 Million In Just Hours

Thursday, May 9, 2013 - 4:42 PM
From The New York Times:
It was a huge bank heist – but a 21st-century version in which the robbers never wore ski masks, threatened a teller or set foot in a vault.

Yet, in two precision operations that involved people in more than two dozen countries acting in close coordination and with surgical precision, the organization was able to steal $45 million from thousands of A.T.M.'s in a matter of hours.

In New York City alone, the thieves responsible for A.T.M. withdrawals struck 2,904 machines over 10 hours on Feb. 19, withdrawing $2.4 million.

... In the first robbery, hackers were able to infiltrate the system of an unnamed Indian credit-card processing company that handles Visa and MasterCard prepaid debit cards.

The hackers – who are not named in the indictment – proceeded to raise the withdrawal limits on prepaid MasterCard debit accounts issued by the National Bank of Ras Al-Khaimah, also known as RAKBANK, which is in United Arab Emirates.

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4
pearlbrownpearlbrown1,356 posts since
Nov 2, 2010
Rep Points: 5,955
1. Friday, May 10, 2013 - 9:21 AM
Here is an update to the story.  Accoording to the FBI, no individual or business accounts were affected, and only bank funds were impacted. 
2
pearlbrownpearlbrown1,356 posts since
Nov 2, 2010
Rep Points: 5,955
2. Friday, May 10, 2013 - 9:58 PM
Wow.  One wonders how long banks can continue to remain a step ahead of all of these advanced cyber-criminals.  As the security consultant said at the end of the article, this type of heist has to inspire some other smart folks with a little desire and time on their hands and lack of moral bearings.  One also wonders how many similar heists have been kept private so as not to "inspire" other cyber-criminals.  Seems like security costs are just going to continue to escalate for the banking industry without its receiving any revenue gains in return on that expense.  And i wonder whose pocketbook that will come out of?  Hopefully the cost savings of handling more of their business online will offset these higher data/security costs.   
1
psjfpsjf3 posts since
Aug 4, 2011
Rep Points: 59
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