Cybercrime: Bank Hacking Presenters: Peter (Pyunghwa) Park & Peter Nguyen
Table of Contents Introduction Famous bank cybercrimes How to hack the bank Prevention methods Summary References (1)
Introduction Cyber crime has been a problem as early as the late 1970's. With the ever-changing technology, cyber crime offenders are keeping up with new ways to attack possible Internet victims. Types of cyber crime include identity theft, credit card fraud, and phishing. Many types of cyber-crimes happen often through everyday emails, or in chat-rooms. Other types of cyber-crimes also involve software pirating, downloading illegal music files, and stealing money from banks by breaking into online websites Throughout history, cybercrimes have changed and evolved to break-through more complex security systems.
One of the First Bank Cybercrime One of the first bank cybercrimes was in 1988. Seven members planned to steal from the First National Bank of Chicago They decided to transfers funds from the Chicago Bank to a bank in New York then to two other banks in Vienna, Italy. Transfers were authorized over the telephone and follow-up calls were made to verify the requests. The total sum of money attempted to be stolen was $70 million The calls were further investigated and rooted back to one of the suspects. The criminals were found out and got caught.
Famous Cybercrime: Nordea Swedish bank Nordea was hit with possibly the biggest internet fraud in history £600 000 (1 million USD) was stolen in three months from 250 customer accounts They obtained the account information through a anti-spam software sent by emails (2)
Selling Personal Information Alberto Gonzalez, 28, from Miami, and two unnamed computer hackers, based near Russia, targeted 7-Eleven and other large corporations by uploading millions of customers' details They breached the firewall of Heartland Payment Systems, a New Jersey-based bank card payment processor, stealing 130 million credit card numbers. They stole 4.2 million card details from Hannaford Brothers. They men started in 2006, scouting potential victims by visiting retail stores to identify payment processing systems and their vulnerabilities
Selling Personal Information They used malicious software known as malware and so-called injection strings to attack the computers and steal data. The suspects planned to sell the data to others who would use it to make purchases. They tried to trade their wares with computers in New Jersey, California, Illinois, Latvia, Ukraine and the Netherlands using "sophisticated hacker techniques to cover their tracks and to avoid detection by anti-virus software used by their victims "The scheme is believed to constitute the largest hacking and identity theft case ever prosecuted by the US Department of Justice," (3)
How to hack the Bank 1.E-mail: Most commonly used worldwide to access personal account information. E-mails are sent by the hackers, usually containing a program. (4)
How to hack the Bank 2.Virus(Trojan): Through the spam mails or pop-ups from websites. A software, containing a virus installs to your computer. Once the program is activated, it will monitor personal account number and password when users log on to their online banking, enabling hackers to transfer the money from accounts.
How to hack the Bank 3.Insider: If there is a insider at the bank, who has access to customer information, hackers can learn how to bypass the bank’s firewall(security system). It is almost impossible to hack the big banks without the insider. (5)
Ways to Protect & Prevent 1.Check you bank’s security policies and its policies for covering losses due to fraud. 2.Change your passwords often. 3.Keep separate accounts for personal and business account.(have different password too) 4.Report and complain anything unusual. 5.Cover your PIN when using ATM.