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Saturday 7 May 2016

CYBER ATTACKS THREAT CENTRAL BANKS AROUND THE WORLD

Cybercriminals mostly target two things, Data and Money – Data has also been used as the source to get money as it has been proved to be very resourceful and organisations tend to buy data which are stolen from other organisation for different reasons.

Banks have been targeted by cybercriminals of late – Not long ago Central bank of Bangladesh falls to victim of the cyber-attacks and US $ 80 Million were stolen by cybercriminals.

Some of the contributing factors in the US $80 million theft from the Bangladesh central bank included the use of inexpensive, second-hand routers and the lack of a firewall. In addition, an investigation conducted by BAE Systems suggests the attackers tricked the SWIFT financial software with custom malware.

Cyber-attacks did not end to Central bank of Bangladesh – Greek central bank site was also attacked by cybercriminals some days back. It looks like this has become a serious problem especially when the website of the Central Bank of Cyprus briefly came under cyber-attack, days after a hacking collective said it conducted a similar attack on the Greek central bank's site.

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TAKE NOTE: It’s no longer enough to blindly implement a cybersecurity strategy and simply hope that you’re safe. These solutions must be tested to examine how they hold up against a dedicated attack.
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The central bank's website came under "some form of a denial-of-service" attack, a spokeswoman said on Friday, via email.

She did not say when the attack occurred, but several on-line news sites covering cyber security said it came on Thursday. The bank could not be reached to verify the date.