Microsoft Describes How Government Hackers Stole ‘Large Sums’ From Financial Firms

You are here: Home » Blog » Tech News » Microsoft Describes How Government Hackers Stole ‘Large Sums’ From Financial Firms

Microsoft Describes How Government Hackers Stole ‘Large Sums’ From Financial Firms

Microsoft Describes How Government Hackers Stole ‘Large Sums’ From Financial Firms.

It’s a short — but startling — passage tucked inside Microsoft Corp.’s periodic cybersecurity report: State-sponsored hackers attacked several financial services firms and stole “large sums of cash.”

The account provides another reminder that hackers are successfully preying on parts of an industry where customer confidence is paramount, and that’s sometimes reluctant to disclose serious attacks. Yet even as the report lays out what happened, it omits sensitive details, such as which government backed the assault or which firms were targeted.

Microsoft Describes How Government Hackers Stole ‘Large Sums’ From Financial Firms. Microsoft said it knows about the case because its experts helped victims in the aftermath. In a series of similar incidents, hackers gained administrative access to computer systems by infecting a machine with a “highly targeted, obfuscated backdoor implant,” possibly with a spear-phishing email. Then they sent cash to foreign accounts. In some instances, the hackers went undetected for more than 100 days, and once found, unleashed malware on the victims’ systems, halting operations.

FireEye Inc., another cybersecurity firm, described a similar series of attacks in a report published about five months ago. A Microsoft spokesman declined to comment on whether the incidents are related.

Microsoft Describes How Government Hackers Stole ‘Large Sums’ From Financial Firms

In that report, FireEye said a North Korean hacking group had infiltrated more than 16 firms in 11 countries including the U.S., stealing more than $100 million. The group’s victims included a Chilean bank that lost $10 million last May. North Korean diplomats and official media have denied that the country plays any role in cyberattacks.


Related Videos:


Related Links:

Hacking the IoT: Vulnerabilities and Prevention Methods(Opens in a new browser tab)

New detection method identifies cryptomining and other fileless malware attacks(Opens in a new browser tab)

Magna’s new MAX4 self-driving platform offers autonomy up to Level 4(Opens in a new browser tab)

iPhone Hacking Tool Used by FBI Up for Sale on eBay for $100(Opens in a new browser tab)

Thousands of Android apps have been creating a permanent record of everything you do(Opens in a new browser tab)

Protect Your Site from Malicious Requests(Opens in a new browser tab)

Hacking Autonomous Vehicles: Is This Why We Don’t Have Self-Driving Cars Yet?(Opens in a new browser tab)

IoT devices pose a significant cybersecurity risk than most realize(Opens in a new browser tab)

Hacker Lauri Love denied bid to get computers back(Opens in a new browser tab)

How To Build a Website With WordPress…Fast!(Opens in a new browser tab)

Social engineering is the new method of choice for hackers. Here’s how it works.(Opens in a new browser tab)

Hackers tried to steal €13 million from Malta’s Bank of Valletta(Opens in a new browser tab)

Where automotive cyber security is headed(Opens in a new browser tab)

I accidently closed my browser, how do I restore the contact form I spent lots of time filling out?(Opens in a new browser tab)

Screencastify for my online blog (DIY)(Opens in a new browser tab)

 

By |2019-05-17T21:31:31-04:00May 17th, 2019|Categories: Tech News|Tags: , , |

About the Author:

I am a loving father, & husband. I am a computer enthusiast. I have used and enjoyed computers since I was young and I enjoy teaching young minds how to code, because it teaches them how to think. Today with YouTube, and social media garbage our youth are losing the ability to think on their own and solve problems. I believe this is a serious epidemic as kids today dont understand that technology is a tool. This tool is being abused, and its underlying effects are taking its toll on kids behaviour, and learning.