Threat of mass cyberattacks on U.S. banks is real, McAfee warns

Updated on: 2012-12-14 || Source: cnet.com

A new security report by McAfee confirms that cybercriminals claiming to hack into hundreds of bank accounts next spring is a "credible threat."

McAfee Global Threat Intelligence shows a vorVzakone malware campaign that targeted victims across the U.S. during a two-month period, with the latest victim infected on October 25.

(Credit: McAfee Labs)

The wave of distributed denial of service attacks that hit U.S. banks in October was next-to-nothing compared to what could happen if cybercriminals actually carry through with their plans for next year.

According to a report (PDF) released today by McAfee Labs, an impending attack on U.S. financial institutions -- dubbed Project Blitzkrieg -- isn't only a possibility, it's a "credible threat."

"McAfee Labs believes that Project Blitzkrieg is a credible threat to the financial industry and appears to be moving forward as planned," the report reads. "Although Project Blitzkrieg hasn't yet infected thousands of victims and we cannot directly confirm any cases of fraud, the attackers have managed to run an operation undetected for several months while infecting a few hundred."

Project Blitzkrieg is believed to be headed by an individual known as vorVzakone, according to McAfee. In September, vorVzakone announced a massive fraud campaign to be launched against 30 U.S. banks in spring 2013. VorVzakone also put out a call to arms for fellow hackers to join his cause. The attacks are said to be done with a highly developed Trojan that could infect victims' computers, plant software, and allow cybercriminals to steal information and money.

Despite several security analysts doubting the legitimacy of vorVzakone's claims or believing the campaign was called off since it has become public, McAfee still believes the threat exists. Security researchers for the company were able to find evidence of vorVzakone using a Trojan a couple of months ago that infected between 300 to 500 victims' computers throughout the U.S.

 

Rather than being a sweeping attack, McAfee said the campaign will selectively target accounts at investment banks, consumer banks, and credit unions. Going after selected groups makes it easier for vorVzakone to stay under the radar and not be detected by network defenses, according to McAfee.

"This attack combines both a technical, innovative backend with the tactics of a successful, organized cybercrime movement," McAfee's report reads. "If the aims of Project Blitzkrieg, as vorVzakone has claimed, become fully realized by spring 2013, the financial industry needs to be prepared."

News

Blackphone 2 'privacy' Android handset revamped
Security firm Silent Circle has revamped its smartphone that helps people manage personal data.
Chinese smartphones mount massive web attack
More than 650,000 Chinese smartphones have been unwittingly enrolled in a massive attack that overwhelmed a web
Hilton investigates hack claims
The Hilton hotel group has said it is investigating claims its US shops and gift stores may be the source of
Twitter website 'blocked' in Turkey
Twitter users in Turkey report that the social media site has been blocked in the country.

SIGN UP FOR NEWSLETTER

Sign up to received our free newsletter!
Name:
E-mail ID:

MOST READ

Views: 5194 Times
10 obscure Word tricks that can expedite common chores READ MORE
Views: 2674 Times
Facebook, lawmakers warn employers not to demand passwords READ MORE
Views: 3168 Times
Cicada 3301: The dark net treasure trail reopens READ MORE
Views: 5531 Times
How to increase the computer speed using msconfig utility? READ MORE
Views: 7673 Times
Flash Image Animation - Tutorial READ MORE

Home|IT News|Computer Tips|Video Tutorials|Download Softwares|Subjects|Contact Us
Copyright © 2019. Jumbo Education (Information Technology). All rights reserved.
Free counter and web stats

Large Visitor Globe