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banking security hacking

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Description: In 2015 and 2016, a series of cyberattacks using the SWIFT banking network were reported, resulting in the successful theft of millions of dollars. The attacks were perpetrated by a hacker group known as APT 38 whose tactics, techniques and procedure overlap with the infamous Lazarus Group who are believed to be behind the Sony attacks. Experts agree that APT 38 was formed following the March 2013 sanctions and the first known operations connected to this group occurred in February 2014. If the attribution to North Korea is accurate, it would be the first known incident of a state actor using cyberattacks to steal funds.
The attacks exploited vulnerabilities in the systems of member banks, allowing the attackers to gain control of the banks' legitimate SWIFT credentials. The thieves then used those credentials to send SWIFT funds transfer requests to other banks, which, trusting the messages to be legitimate, then sent the funds to accounts controlled by the attackers.

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