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Guest Opinion: Thwarting Cyber Attacks

Financial institutions around the world were recently frightened again by news of a massive attack that siphoned nearly $2.5 billion from commercial accounts held at multiple financial institutions in the U.S., Europe and Latin America.

By Kevin Hamel | Updated on September 02, 2012

Financial institutions around the world were recently frightened again by news of a massive attack that siphoned nearly $2.5 billion from commercial accounts held at multiple financial institutions in the U.S., Europe and Latin America.

While the media scrambled to hype the emerging story, security experts uncovered enough details to identify this attack as a new twist on several well-known commercial account takeover attacks. The new attack merely automated parts of the Zeus and SpyEye malware that had previously required manual intervention. Obviously, the new automated version is more efficient.

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