With hack attacks continuing against banks, SWIFT must follow in the footsteps of other vendors - notably Microsoft - and begin offering detailed, prescriptive security guidance to its users, says Doug Gourlay of Skyport Systems.
Ransomware, regulations, botnets, information sharing and policing strategies were just some of the topics that dominated the "International Conference on Big Data in Cyber Security" hosted by Edinburgh Napier University in Scotland.
Vietnam's TPBank says it successfully foiled more than $1 million in fraudulent transfer requests apparently initiated by the same hackers who targeted Bangladesh Bank and other SWIFT-using institutions with PDF reader malware.
The Commercial Bank of Ceylon has apparently been hacked, and its data has been dumped online by the Bozkurtlar hacking group that has leaked data from seven other banks in the Middle East and South Asia since April 26.
The theft of $81 million from Bangladesh Bank was "part of a wider and highly adaptive campaign targeting banks," SWIFT warns its 11,000 customers. Investigators say signs point to the same attackers having hacked Sony Pictures Entertainment in 2014.
Amidst finger-pointing over responsibility for the $81 million online theft from Bangladesh Bank, SWIFT has issued its first-ever information security guidance to banks, telling them that they're responsible for securing their own systems.
Close on the heels of the QNB leak, the same attackers have published data that appears to be from UAE-based InvestBank. The dump appears to contain payment card data, as well as a large number of sensitive, internal files relating to the bank's employees and systems.
Russian email service Mail.Ru says its users' credentials contained in data leaked to Hold Security are 99.982 percent invalid, leading it to slam the security firm for stoking "media hype." But Hold Security's CISO contends the leak contains valid email addresses that could be used for phishing and spam.
A security firm claims to have obtained from a young Russian hacker a data set that includes 272 million unique credentials for Hotmail, Gmail and Yahoo email addresses, among others. But there's no reason to panic, security experts say.
The section chief of the FBI's Cyber Division says "the FBI does not condone payment of ransom," in part because it enables criminals to victimize others. Instead, the bureau continues to urge all potential victims to get their IT house in order.
For years, we have been talking about why corporate boards of directors should pay much greater attention to the issue of information security. Could a new cybersecurity assessment app help get board members involved?
Following the theft of $81 million from Bangladesh Bank, is it time for banks to make SWIFT money transfers less automated and better supervised and thus secure? An alleged scam from the days of telex machines and code books offers useful perspective.