McAfee Virus researchers have uncovered a series of attacks on financial services industry on high balance accounts, some transfers of over 100,000 Euros have been reported…….estimating that over 60 million euros has already been stolen from Dutch, Italian and Germany banks……
This comes a week after a Cambridge University study said money being spent on tackilng online crime would be better off spent on Policing. Measuring the Cost of Cybercrime , the study , from a respected group of academics including Ross Anderson and Richard Clayton, claims that the world has over-invested in defence and clean-up at the expense of old-fashioned retribution.
The Study explains – “The cost of cybercrime results from three calculations; the direct cost of the frauds themselves (relatively small), the money spent on defending against those frauds (much larger) and the cost of cleaning up the mess when defences fail (also relatively high).”
I have been the same thing for some time now, that our Governments have been spinning ‘Cyber War’ and ‘Cyber Attack‘ stories via the media and online – to justify huge budgets and helping to create an Industry based around expensive ‘Certificates’ and ‘Courses’ for people (including white-hat hackers) who may wish to become a part of it…
A prime example of this is the recent statement by the head of MI5 -
There are industrial-scale processes involving many thousands of people lying behind both state-sponsored cyber espionage and organised cyber crime,’ he said in his first public speech for two years.
‘Vulnerabilities in the internet are being exploited aggressively not just by criminals but also by states.
‘So far, established terrorist groups have not posed a significant threat in this medium, but they are aware of the potential to use cyber vulnerabilities to attack critical infrastructure and I would expect them to gain more capability to do so in future.
‘This is a threat to the integrity, confidentiality and availability of government information but also to business and to academic institutions’ said Mr Evans, who went on to sum up his speech with the phrase – “some of the areas of concern might turn out to be “dogs that don’t bark” but added: “The dog you haven’t seen may turn out to be the one that bites you.”
- BREAKING ALERT: Huge Worldwide Cyber Bank Raid Ongoing, Confirmed €60M Taken By 1 Server, Estimated €2 Billion Taken By Another 59 Servers…This Is Huge!!! (investmentwatchblog.com)
- BREAKING NEWS: Huge Worldwide Cyber Bank Raid Ongoing- Estimated €2 Billion Stolen (sgtreport.com)
- UPDATED!!! Fraud Ring In Hacking Attack On 60 Banks – thanks to D. (jhaines6.wordpress.com)