This “Massive” Cybersecurity Attack Targets Your Money

This “Massive” Cybersecurity Attack Targets Your Money (http://moneymorning.com)

If you haven’t yet been the victim of a cybersecurity attack, you might be soon depending on what bank you use.

Computer security firm McAfee issued a report yesterday (Thursday 12/13/2012) alleging a “massive cyberattack” was being planned for next spring (2013).

According to CNNMoney, a gang of criminals headed by a Russian cyber mafia chief known as NSD had developed a powerful “Trojan Horse” program designed to take money out of victims’ bank accounts and channel it into their own.

The plan, called “Project Blitzkrieg,” was aimed at 30 U.S. financial institutions, including online payment company PayPal, and was based on a malware program that would clone an account holder’s computer to make it look like the accounts were being accessed from the owner’s home computer, avoiding security questions that would deny the criminals access to the accounts. The idea was to then access thousands of accounts simultaneously to take out small amounts of cash from each one that would total millions of dollars.

Project Blitzkrieg first came to light when notices were posted on hacker Websites looking for hackers to join the group planning the attack. They offered a share of the loot for service.

Once the plan was discovered, it seems to have “gone dark.”

It is impossible to know if Project Blitzkrieg has been cancelled or whether it is proceeding under much tighter security but security companies, including McAfee, have been working with banks to bolster their security. (Continue reading at http://moneymorning.com)

My Two Cents: Hopefully financial institutions have upgraded their security systems or invested in new security systems to prevent attacks from criminal organizations using projects like Project Blitzkrieg to exploit flaws in current security practices, like External IP, Host ID and Machine ID that can be stolen and used to gain access…huge mistake. Everyone be careful!

Cyber-attacks that kill, IPv6, and vulnerability markets on tap for 2013

Cyber-attacks that kill, IPv6, and vulnerability markets on tap for 2013 (http://www.infosecurity-magazine.com)

As rough of a year as 2012 was for cybersecurity, in 2013 we will see higher stakes than ever before, researchers say.

WatchGuard’s security research analysts are predicting upticks in emerging cyber threats – including those that can cause loss of human life.
Among other predictions, it also expects browsers and IPv6 to cause problems, a cybersecurity bill to pass in the US, and vulnerability markets to open the door for a major attack.
“2012 was an eye-opening year in cybersecurity as we saw the number of new and more sophisticated vulnerabilities rise, impacting individuals, businesses and governments,” said WatchGuard director of security strategy Corey Nachreiner, in announcing the predictions. “This is a year where the security stakes reach new heights, attacks become more frequent and unfortunately more damaging as many organizations suffer attacks before taking measures to protect themselves from the bad guys.”

(Continue reading at http://www.infosecurity-magazine.com)

My Two Cents: This is a very good article on security predictions of 2013. Cyber attacks are only going to increase, and become more sophisticated.