Banks
Cyber Attacks incur $100 billion losses to Financial Institutions
Cyber Attacks are bringing in $100 billion in losses to financial institutions(FIs) says a survey conducted by International Monetary Fund(IMF). This is due to the fact that FI’s play a vital role in procuring and handling funds. According to the IMF Staff Modeling Exercise report, hackers chose FI’s as easy targets due to the fact […]
Banks in the UK forcing customers to online frauds
Banks operating across England have picked up a new trend of closing their branches in rural areas and forcing customers to go online. Financial market analysts say that the move was chosen in a bid to cut down the CapEx and OpEx costs and bring the banking services close to the fingertips of their respective […]
Three banks in Mexico become Cyber Attack targets
Hackers tried to target three of the largest banks operating in Mexico forcing the officials of the said financial institutions to launch contingency plans. According to a source from Banco De Mexico, the attack could have disrupted the central electronic payments systems resulting in a delay in money transfers and siphoning of funds from accounts. […]
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 […]
Cyber Attack on at least one bank a week!
According to the latest survey conducted by UK’s city watchdog The Financial Conduct Authority, cyber hackers are targeting at least one bank in a week from 2016, compared to five in 2014. And the watchdog adds in its report that most attacks go unnoticed, as banks try to cover up the issue in an attempt […]
Russian bank customers hit by malware!
Cyber Security Firm Group-IB has warned Russian mobile banking customers of a possible cyber attack on Android mobile devices. The security firm said that criminals from Russia were trying to steal bank details of mobile banking customers using Cron malware and were planning to target European lenders by this month end. As per a report […]
