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<a href="/news/hackers-cost-banks-millions" title="Hackers cost banks millions!">Hackers cost banks millions!</a>
Posted on: 10 Oct 2017 

Posted By: ITWiser Webmaster

Hackers cost banks millions!


It has been reported that cyber-attacks have been affecting banks in former soviet states, it’s been estimated that it has resulted in losses of $100m.

Security researchers from security firm Trustwave have reported that criminals are using mules to open accounts with fake information. Once the account has been setup and it’s in play the hackers then obtain unauthorised administrator access, then they break into the network of third party processors.

The hackers will mainly target access to card management systems before activating overdraft facilities. Once the hackers have activated these overdrafts the mules can then withdraw money from the accounts and run up huge debts. The banks will find it very hard to trace these people as the information is fake and not real or legitimate.

ITWiser offer a wide range of services and solutions that can help prevent issues like this from affecting you and your business. We offer internal security audits and external security audits, these audits are designed to highlight issues inside and outside your network. For more information on these or on any of our other services please get in touch today.

The Register