Cluster

New bank theft software hits 3continents

PG
Tuesday, 26-June-2012

 

SAN FRANCISCO: A new wave of automated hacking of online bank accounts might have stolen $78 million in the past year from customers in Europe, Latin America and the United States, according to researchers who peered into the computers of the hacking gangs.
 
The groups used recent improvements to two families of existing malicious software, known as Zeus and SpyEye, which lodged on the computers of clients at 60 banks.
 
While previous versions of the software have proved adept at stealing logon information, the latest variants automate the subsequent transfer of funds to accounts controlled by accomplices.
 
The findings, to be released on Tuesday by security firms McAfee and Guardian Analytics, confirmed and expanded on research from Japan-based Trend Micro Inc that was first reported last week by Reuters.
 
"This looks like the beginning of a new technique," said Guardian's Vice President Craig Priess, whose firm specialises in protecting banks.
 
The software is sophisticated enough to defeat "chip and PIN" and other two-factor authentication and to avoid transferring the entire contents of an account at one time, which can trigger review, according to the study.
 
Trend Micro said it had seen the automated versions in action in Germany, the United Kingdom and Italy.
 
Guardian and Intel Corp-owned McAfee said the same technology, while still emerging, had been used by a dozen gangs against consumers and business clients of financial institutions in those countries and Colombia, the Netherlands, and the United States."Someone designing this system has insider knowledge as to what the banks are looking for," said Dave Marcus, research director at Mcafee Labs.
 
Server logs viewed by the researchers saw commands from the fraud rings to transfer a total of $78 million, including $130,000 from one account. The banks may have been able to block some of those transactions, the researchers acknowledged.

 



    

Top Stories

Punjab govt. seeks four-month time for LB polls

ISLAMABAD: Punjab government has sought four-month time from Supreme Court (SC) for holding local bodies election in the...

Car bombings kill at least 33 people in Iraq

BAGHDAD: A new wave of car bombs ripped through commercial areas in the Iraqi capital and areas to the south Tuesday, ki...

Altaf, Zardari discuss law & order in Sindh

KARACHI: Muttahidat Qaumi Movement (MQM) chief Altaf Hussain and former president and co-chairman of Pakistan Peoples Pa...

White House weighs petition to deport Justin Bieber

WASHINGTON: As if Barack Obama didn't have enough problems to deal with already, his administration now is being asked t...

Sindh CNG stations reopen after 24 hours

KARACHI: CNG stations across Sindh including Karachi reopened after 24-hour closure at 8:00 AM today (Tuesday), media re...

Gas leakage blast kills 1, hurts 3 in Quetta

QUETTA: An explosion occurred at a house due to gas leakage, killing at least one person and wounding three others here ...

Ministry of CAD decisions put students,teachers & parents in a fix

Islamabad:Ministry of Capital Administration and Development (CAD) indecisive attitude put the students as well as paren...

10-year-old maid allegedly tortured to death in Lahore

LAHORE: A 10-year-old girl, who works as maid, was allegedly tortured to death in Lahore, medi reported.Sources said tha...

Five friends voluntarily embrace death: police

THATTA: Police after initial investigation claimed that five friends, who were allegedly killed in Noori Jam Tamachi, vo...

Pakistan wants good relations with all neighbouring countries: PM Nawaz

ISLAMABAD: Prime Minister Nawaz Sharif has said that Pakistan wanted good relations with all the neighbouring countries....

IHC dismisses Musharaf’s pleas; verdict issued

ISLAMABAD: Islamabad High Court (IHC) on Thursday issued 11-page detailed verdict over the intra-court appeal filed by f...

Pakistan to get $550m after IMF review meeting on Dec. 19

WASHINGTON: International Monetary Fund (IMF) first quarter review meeting on Pakistan’s loan programme will be held on...

Kayani thanks Corps Commanders for extending support

RAWALPINDI: The 166th Corps Commanders Conference was held at General Headquarters on Thursday.   Outgoing Chief of Ar...

3 women held captive for 30 years: UK police

LONDON: Three women have been freed after spending 30 years held captive in a south London home, including one woman be...

Iran has slowed work on atomic facilities: IAEA

NEW YORK: Iran appears to have dramatically slowed work on its atomic energy program since the summer, U.N. officials s...

Young Frenchman too heavy to fly will go home by ship

NEW YORK CITY: A young Frenchman who weighs 230 kilograms (500 pounds) and was deemed too heavy to fly on a jetliner ar...

Ex-military ruler Pervez Musharraf released

ISLAMABAD: Adiala Jail authorities have formally released the country’s former military strongman General (retd) Pervez...

Bolivia coca ambush leaves 4 security force members dead

LA PAZ: A weekend ambush and hostage-taking involving police and Bolivian coca growers has left four people dead, offic...

Muslim pilgrims ritually stone devil as hajj nears end

MINA: Throngs of Muslim pilgrims took part in devil-stoning ritual for a second day Wednesday in Saudi Arabia's Mina Va...

KP Home Department orders police to collect data of internet cafes

PESHAWAR: The Home Department of Khyber Pakhtunkhwa province has ordered police to collect the record of all the intern...


Feature / Analysis

  • SMOG IN INDIA, CHINA IS CHANGING WEATHER PATTERNS IN US, FINDS STUDY

    Man-made air pollution in Asia is exacerbating climate change and link...

    Read More »

  • Amid construction boom, Myanmar starts to build disaster resilience

    YANGON, Myanmar: The Sule Pagoda Road in downtown Yangon is famous for...

    Read More »

  • EPA scores big win to limit mercury in power plants

    The Environmental Protection Agency took home a sweeping victory Tuesd...

    Read More »

  • Asian Pollution Boosts Pacific Storm Power

    Pollution from China's coal-burning power plants is pumping up winter ...

    Read More »


Opinion

  • Coal Returns to German Utilities Replacing Lost Nuclear

    What’s a beleaguered utility to do when forced by the government to cl...

    Read More »

  • US Is an Oligarchy Not a Democracy, says Scientific Study

    A study, to appear in the Fall 2014 issue of the academic journalPersp...

    Read More »

  • An unequal battle

    WHILE going to the Karachi Press Club to attend a press conference cal...

    Read More »

  • Turtles Change Migration Routes Due to Climate Change

    CAHUITA NATIONAL PARK, Costa Rica : The critically endangered hawksbil...

    Read More »