Feb 18 2015

Hackers Make Off With $1 Billion in Major Banking Scam

Cyberthieves have pulled off a doozy of a hack on the financial services industry making off with an estimated $1 billion, according to findings from Kaspersky Lab. The hacks were estimated to have started in 2013 and still ongoing, reports the BBC.

The gang, which Kaspersky dubbed Carbanak, used computer viruses to infect company networks with malware including video surveillance, enabling it to see and record everything that happened on staff's screens.

In some cases it was then able to transfer money from the banks' accounts to their own, or even able to tell cash machines to dispense cash at a pre-determined time of day.

Kaspersky said on average each bank robbery took between two and four months, with up to $10m stolen each time.