The Time a Major Financial Institution Was Hacked in Under 15 Minutes Washington Post (01/14/15) Fung, Brian The growing sophistication of cybersecurity technology inevitably drives criminal hackers to improve their attack strategies, according to Kaspersky Labs Chris Doggett. He deems hackers motivated to commit financial fraud and theft a more pernicious threat than politically-driven hackers, as the former often involve the participation of organized crime. Doggett also notes not only are data breaches on the rise, but malware is the common mechanism of intrusion. People are waking up to the fact that systems are fundamentally insecure, he says. With this realization has come a push by companies to fortify their defenses, which includes raising their systems and infrastructure protection budgets, with costs inexorably flowing down to consumers. Doggett predicts the growing adoption of mobile payment systems such as Apple Pay will be accompanied by a rising frequency of attacks that target those systems. Hackers may be more reluctant to compromise cryptocurrencies such as Bitcoin, given they are often used for criminals financial transactions. Doggett says user awareness of cyberattacks has improved, but many still fail to follow basic security practices such as using complex passwords. He notes such laziness can enable hackers to inflict damage with relatively unsophisticated attacks, as in the case of the Sony hack.
Posted on: Fri, 23 Jan 2015 23:10:03 +0000
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