When asked why he robbed banks, Infamous bank robber Willie Sutton is often quoted as having said “Because that’s where the money is”. It would appear that hackers around the globe have taken his words of advice to heart. This week it was announced that a group of hackers known as the ‘Lazarus Group’ that looted a Bangladesh bank for over $80 million dollars, has now been tied to other bank heists, plus the famous Sony hack of two years ago. Fox-Brewster (2016) writes that analysts at BAE Systems report that:
“…the malicious code used across the attacks was so similar the most likely conclusion was all were the work of one group. That single group, if BAE is correct in its attribution, has been responsible for at least two of the biggest hacks ever seen. On top of Sony and the Bangladesh bank, the hacking crew…have been linked to successful breaches of South Korean organizations, including a range of banks and media companies as part of what became known as the Dark Seoul attacks”
The Bangladesh bank joins a host of other banks that have been hacked in recent years including giant JP Morgan. Sutton was right, that’s where the money is, and cyber criminals are not timid about going after the big scores.
Since they are the main targets, financial institutions need to recognize their vulnerabilities and act to strengthen their defenses. It is doubtful that the CSO/CISO of any of the attacked banks reported prior to the hacks that their systems were in danger, so the top leaders in the financial C-Suites need to reassess their security and start asking questions. If they don’t they may find a note left in their servers….”Tell them Willie was here”
Learn how to protect yourself and your small business from cyber attacks at the National Cybersecurity Institute.
Fox-Brewster, T. (2016). Crooks Behind $81M Bangladesh Bank Heist Linked To Sony Pictures Hackers. Retrieved from the Internet at http://www.forbes.com/sites/thomasbrewster/2016/05/13/81m-bangladesh-bank-hackers-sony-pictures-breach/#214b38806cdc
Willie Sutton Quote – Retrieved from the Internet at https://www.quotesdaddy.com/author/Willie+Sutton