Cyber Attacks on International Banks linked to North Korea

As per the latest study conducted by security researchers from Symantec Corp and BAE Systems PLC, the wave of cyber attacks which are being launched on Financial Institutions in the US, Mexico, and UK have originated from North Korea. The study also confirms that the attacks share traits with the Sony Hack which took place in 2014.

What’s more amazing in these attacks is that they were launched by a hackers group called “Lazarus” who have strong links with North Korea’s Cyber Army.

Researchers at BAE Systems and Symantec believe that the attack launched by Lazarus group involves installing of malicious code on financial regulator websites and then using those sites as launching pads for cyber attacks on banks and other financial institutes such as Insurance firms.

This ‘watering hole’ hacking tactic is so similar that security experts can sniff Lazarus hacking groups involvement directly from Prima Facie of any cyber attack on Financial Institution.

Lazarus is active since 2009 and was also involved in the latest theft of $81 million from the Bangladesh Bank’s US Federal Reserve.
Initially, Lazarus Group only targeted banks and Private entities of US and UK. But now they have expanded their activities to companies operating in other nations such as Asia, Poland, and South Africa.

As banks have resourceful financial data and money, hackers are making them as a lucrative target.

In mid-2016, FBI warned all Financial Institutions operating in America against organized malicious cyber actors having intentions to maligning the image of United States. But for obvious reasons, the said law enforcement agency failed to take the names of Russia and North Korea in their report.

As per the Symantec report available with our Cybersecurity Insiders, Lazarus group has so far targeted almost 31 banks operating across the globe.

More details will be updated shortly.

Naveen Goud
Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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