North Korea preparing to launch Cyber Attacks on Global banks!

North Korea is planning to launch Cyber Attacks on global financial networks and US FBI along with CIA predicts that the attack will be in intense form this time.

Since US Military is planning to take action over the nuclear programs of North Korea, the latter wants to get strong on a financial note by then. So, it is planning to launch cyber attacks such as ransomware on Bitcoin trading companies and other institutions to mint money from victims.

After receiving sanctions from United Nations, North Korea’s main source of income will be to launch cyber attacks on financial institutions and make money.

Reuters has reported the same in one of its recent posts and highlighted the fact that the two state-funded groups of the nation- Hidden Cobra and Lazarus Group are working on this objective and will target banks in Britain by this year-end.

America has already issued an alert to all financial institutions operating in its region to strengthen their cyber defenses. White House officials perceive that Kim Jong Un has tied-up with some state-funded actors of Russia and China to launch sophisticated cyber attacks on banks operating in the United States in early next year.

Jim Lewis, a cyber expert with Washington’s Center for Strategic and International Studies said that, if in case, North Korea launches a cyber attack on the financial network of United States, then it will also have to face the consequences related to US retaliation on a stronger note.

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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