Malware steals hundreds of millions from over 100 banks

Security firm Kaspersky breaks news that hackers used sophisticated malware to infiltrate over 100 banks in Rusia, Japan, the US, and other countries. The attack started in late 2013 and resulted in the theft of up to $300 million. Chris Doggett, of Kaspersky's Boston office, describes the attack as the most sophisticated the world has seen to date in terms of tactics and methods that the criminals have used to remain covert.

The Times said it received an advance copy of an upcoming report by Moscow-based Kaspersky Lab that details how banks in Russia, Japan, the United States, and other countries fell victim to malware starting in late 2013 that allowed the hackers to watch video feeds, view daily operations, and impersonate bank officials.

The malware apparently allowed the hackers to transfer money from the banks to fake accounts. According to the Times, Kaspersky Lab said the total theft could be more than $300 million, although the cybersecurity firm has not nailed down an exact figure. Each transaction was limited to $10 million and some banks were hit more than once, according to the publication.

Source: ARS Technica