Cyber

Millions stolen from US banks after ‘wire payment switch’ targeted

“Criminals have recently hijacked the wire payment switch at several US banks to steal millions from accounts, a security analyst says. Gartner vice president Avivah Litan said at least three banks were struck in the past few months using ‘low-powered’ distributed denial-of-service (DDoS) attacks meant to divert the attention and resources of banks away from fraudulent wire transfers simultaneously occurring. “

Source: Millions stolen from US banks after ‘wire payment switch’ targeted – Networks – SC Magazine Australia – Secure Business Intelligence

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