Photo cred - Jason Tester Guerrilla Futures
Canadian banks have come under threat by Russian and Ukrainian fraud artists according to MSN. Kaspersky, a popular anti-virus software company, reported that malicious software was being used to steal money from various financial institutions and so far the losses add up to nearly $1 billion USD.
What makes this scheme unique is the fact that these attacks normally target specific bank clients but this malware targets the internal computer system of the bank itself. Once infected, the bank computers are used to forge transactions and create money transfers, they can also command ATM machines to release large amounts of funds at predetermined times. One bank alone lost nearly 8 million dollars.
The Criminal group is made up of Ukrainian and Russian nationals who use remote servers to send infected emails to the banks, according Kaspersky who says that at least 9 Canadian IP addresses were targeted. The Globe and Mail tried to contact Kaspersky to get more information on the Canadian targets but Kaspersky declined to answer because the investigation is still ongoing.