Banks Warned of ‘Mass Fraud Campaign’ for Cyberattacks Come Spring
A report from a security firm analyzing an ongoing cyberattack is warning financial institutions that it continues to be a “credible threat” and is expected to hit them hard in the spring.
According to analysis from McAfee Labs, the cyberattack known as “Project Blitzkrieg” was launched by a hacker going as “vorVzakone” (which means “thief of law”), who is involved in other campaigns that have already infected more than 500 institutions.
“If the aims of Project Blitzkrieg, as vorVzakone has claimed, become fully realized by spring 2013, the financial industry needs to be fully prepared,” Ryan Sherstobitoff wrote for McAfee.
According to the report by the security firm, a blog post by RSA researchers first brought the Trojan attacks to light, which it notes finding were in development since 2008 and transferred $5 million so far. The thieves as a whole, according to the report, have been active using their system since April 2012 and have infected up to 500 institutions.
“McAfee Labs believes that Project Blitzkrieg is a credible threat to the financial industry and appears to be moving forward as planned. Not only did we find evidence validating the existence of an early pilot campaign operated by vorVzakone and his group using the Trojan Prinimalka that infected at a minimum 300 to 500 victims across the United States, but we were also able to track additional campaigns as a result of the forum posting,” the report stated.
Defense Secretary Leon Panetta referenced the attacks on banks revealed in October, as well as other cyberattacks, during a speech that month saying this was a “pre-9/11 moment.”
“Before September 11, 2001 the warning signs were there. We weren’t organized. We weren’t ready. And we suffered terribly for that lack of attention,” Panetta said.
Some at the time linked the attacks to Iran but McAfee research seems to have traced vorVzakone attacks to originating in Russia.
“It’s no secret that Russia and China have advanced cyber capabilities. Iran has also undertaken a concerted effort to use cyberspace to its advantage,” Panetta said in his October speech, according to Fox Business.
The continuation of the “mass fraud campaign,” if vorVzakone’s plans come to fruition, is set to hit 30 other institutions in 2013. The report does acknowledge that some speculate vorVzakone called off these plans due to recent publicity, but others think this is not the case.
CNET pointed out the campaign is expected to target specific accounts at investment and consumer banks and credit unions, making it easier for the cybercriminals activity to go undetected until it’s too late.
Benghazi, IRS, AP...What's next? Only TheBlaze TV offers the truth from Glenn Beck, Andrew Wilkow, and Real News from TheBlaze. Get instant access and a free trial here.
- John McCain Lectures Tea Party Senator on How ‘Business’ Gets Done in Congress: ‘That’s What We’ve Been Doing for a Couple Hundred Years’ 592 Comments
- Boy Scouts of America Vote to Allow Gay Members 521 Comments
- Pope Francis’ Sermon Sparks Debate: ‘Even the Atheists’ Have Been Redeemed ‘With the Blood of Christ’ 498 Comments
- Obama Doesn’t Return Marine’s Salute, Shakes Hand Instead — Is This a Protocol Misstep? 395 Comments
- Piers Morgan Bans Dana Loesch From His Show Following Twitter Spat: ‘Show Some Bloody Respect’ 338 Comments
- Game-Changing Bombshell? There’s a Major Twist in the Story About a High School Student’s Lesbian Relationship With a Minor 332 Comments
- Is the Boy Scouts’ Gay Amendment the ‘Beginning of the End’ for the Group? (Plus: Tell Us Where You Stand) 286 Comments
- MSNBC Hosts Martin Bashir and Chris Hayes Claim London Machete Killers Aren’t Terrorists: ‘These Are Just Murderers’ 152 Comments
- Did You Catch the Possibly Policy-Changing Ft. Hood Reference in Obama’s Terror Speech? Read More
- Dem. Rep. Apologizes for Attending ‘Racist, Anti-Semitic and Homophobic’ Speech Read More
- Have You Had Scotch at a NJ TGI Friday’s Lately? You Might Have Been Drinking Rubbing Alcohol Read More
- Venezuelan President Blames Toilet Paper Shortage on the Rich Read More
- This Terrible Chart Shows the Change in Food Stamp Participation Over the Last 10 Years Read More
- Disney Makes Absolutely Mortifying Photoshop Mistake Read More
- Trey Gowdy at It Again — This Time with a Jack Bauer Reference! 117 Comments
- LOOK: Woman Claims to Have Photographed UFO in California Read More
- Lion Named ‘Bonedigger’ and Small Dog Make Most Unlikely Companions Read More
- Rocket Bike Sets Land Speed Record — and Uses a Fuel You Wouldn’t Expect Read More
- How 3D Printing Technology Created a Special Part for Baby’s Windpipe and Saved His Life Read More
- 6 Fascinating Spy Gadgets You’ll Probably Want (and Can Have) After Seeing Read More
- Kerry makes sub-Saharan Africa visit
- Angel Flight crashes in NY, 2 killed, 1 missing
- Syria regime unleashes artillery barrage on Qusair
- Journalist and author Haynes Johnson dies at 81
- Toronto mayor denies he smokes crack cocaine
- Gas cylinder blast on Pakistan school bus kills 17
- Late turnovers doom Heat in Game 2 loss, 97-93
- Pacers steal Game 2 from Heat, 97-93