The Strategist

Cyber Attacks Hit the Record in USA

09/10/2015 - 16:05

A sharp increase in fraudulent transactions with bank cards and ATMs has been recorded in the United States, according to TV channel CNBC.

The amount of data, which criminals managed to seize, reached a record over the past 20 years. Fraudsters are using customer data to create a duplicate of cards, using them for their own purposes.
Statistics show that even complex multi-level authentication mechanisms do not allow protecting cardholders, since scammers can fleece the users of all their money having the duplicate released.

The number of "ghost cards" in recent years has increased by 174%, while the number of cards that are not owned by banks, yet accepted by ATMs, increased by 317%.

All this has extremely negative impact on the financial system. The truth that the vulnerability of bank cards is a growing concern among Americans. According to surveys of Unisys Security Insights, which were published in 2014, about 59% of Americans fear that their bank cards may be subjected to fraud, the fear of losing money is even up of fear of international terrorism.

It is worth noting that since the beginning of 2013, US banks have been almost daily exposed to hacker attacks. As a result, about a billion dollars had been stolen during the number of major cyber-attacks on banks and financial organizations since the beginning of 2013. It is reported that a group of hackers consists of citizens of Russia, Ukraine and China.

"Kaspersky Lab", working with Interpol and Europol in the investigation of these crimes, is adding that the attack on financial organizations and banks were carried out in Russia, the USA, Germany, China, Ukraine and Canada.

- These attacks prove the hypothesis that criminals use every loophole in any system, - explained the director of the Center of Interpol to combat cybercrime Sanjay Virmani.

Kaspersky says that the methods, that criminals use, show a new level of cyber fraudsters when "the criminals are stealing money from banks, bypassing the end users."

The gang ran the virus into the computer networks of banks, allowing them to monitor everything that happens on the employees’ screen. In some cases, they can thus transfer money from their bank accounts or issue commands to ATMs to give the scammers cash at a given times.

Previously, the largest in terms of assets US bank JPMorgan Chase suffered a massive cyber-attack, resulted in the hackers gained access to 76 million customer accounts and 7 million data in the field of small business. This was stated by the Commission on the Securities and Exchange Commission (SEC).