If true, this is an amazing story. Apparently, a bunch of hackers (no, they aren't Greeks) stole over a billion dollars:Eek: from 25 international banks.
The internet originated with the creation of a system by the US government for research stations to communicate. Security was never a concern because the network was not accessible to outsiders. When the system was made universal by the creation of the internet, accessibility was celebrated while security was shunned. This fundamental flaw in the internet infrastructure has persisted ever since, allowing any rogue programmer to penetrate networks to steal and/or wreak havoc. Sony. Target. Anthem. JP Morgan. Etc. Etc.
So $1 billion has been stolen from banks? With almost everything connected to the internet, this is insignificant compared to the damage rogue geeks can inflict upon individuals in particular and society in general. Lesley Stahl of CBS 60 minutes was shown how someone could remotely seize control of a car in motion and slam on the brakes. Software allowing someone to break into cars is available online for $25. Entry into houses can be gained by remote control. Water supplied into homes can be poisoned remotely through increase in the amount of injected chlorine. It goes on and on and on.
DARPA, the US agency that created the internet infrastructure, is now working on improving security. With their efforts devoted to military needs, security for every day applications is a long way off. And that is truly scary.
Interesting. It reminds me of the scam where the bank employee rigged the computer system to round down instead of up and netted a fraction of a penny. Multiplied by millions upon millions of transaction and it ended up being a sizable amount of money before it was detected (and the guy would have gotten away with it if he had walked away at a certain point).
Hiding the crime in plain site by making it look like a normal transaction is pretty smart. But at the end of the day, the banks need to stop falling for stupid fishing scams.
Interesting. It reminds me of the scam where the bank employee rigged the computer system to round down instead of up and netted a fraction of a penny. Multiplied by millions upon millions of transaction and it ended up being a sizable amount of money before it was detected (and the guy would have gotten away with it if he had walked away at a certain point).
Hiding the crime in plain site by making it look like a normal transaction is pretty smart. But at the end of the day, the banks need to stop falling for stupid fishing scams.
Yes, this story was pretty close to home as I went to a rival high school. The accused was an alumnus of St. Micheal's College School- a man of high morale fiber. LMAO. I hate those douchebags!
Btw he was never charged with a crime. Do you know what he had to pay back in restitution?