Muhamed Bilal reports: Bank Islami Pakistan has come under the biggest cyber attack in the history of Pakistan. The incident came under the limelight when numerous customer of the bank complaint of an unusual activity – that their payments cards are being used in the different international countries. It is alleged that a group of…
Category: Financial Sector
Baer ‘Whistleblower’ Cleared by Top Court in Data-Theft Case
Hugo Miller reports: A former Julius Baer banker who leaked documents from a Cayman Islands subsidiary was cleared of breaking Swiss banking secrecy by Switzerland’s top court, creating possible problems for how the Alpine nation’s banks manage their foreign units. The Supreme Court voted 3-2 to reject the arguments of Zurich prosecutors who had appealed…
North Korea’s APT38 hacking group behind bank heists of over $100 million
Catalin Cimpanu reports: According to a new report published today by US cyber-security firm FireEye, there’s a clear and visible distinction between North Korea’s hacking units –with two groups specialized in political cyber-espionage, and a third focused only in cyber-heists at banks and financial institutions. For the past four years, ever since the Sony hack…
Tesco Bank fined £16.4m after hackers siphoned £2.26m from customers in 2016
John McCarthy reports: The Financial Conduct Authority (FCA) has fined Tesco Bank for “failing to exercise due skill, care and diligence in protecting” its current account holders. The ruling comes almost two years after the company was hit with a cyber attack that saw money stolen from an estimated 20,000 customers. Tesco Bank has been…
Pune Crime: Hackers Who Stole Rs 94 Crore From Cosmos Bank Arrested
Chaitraly Deshmukh reports: The Cybercrime cell of the Pune city police have arrested seven people in connection with the major hacking of Cosmos Bank servers. The hackers had managed to withdraw Rs 94.42 crores last month by hacking into the servers of the Pune branch of Cosmos Bank. The hackers transferred Rs 94.42 crore to…
AU: Westpac employee gave customer passwords to mortgage broker in serious data breach
Paul Farrell reports: A Westpac manager handed over the banking passwords of 80 customer accounts to a mortgage broker, giving them direct access to personal bank accounts in a serious breach of customer privacy. It is one of a catalogue of 32 breaches Australia’s four largest banks disclosed to the Office of the Australian Information…