North Korean Hacking Groups And Copycats Are Going After Financial Institutions

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State-sponsored and criminal actors are mounting a wide array of cyber attacks against the global finance industry with an aim to steal data and sabotage trading systems, according to new research.

The report, published by Finnish cybersecurity firm F-Secure, detailed the increasing sophistication of these financially-motivated cyber attacks.

With financial institutions becoming a lucrative target because of their socio-economic importance, the attackers are exploiting the threat landscape to commit identify fraud, engage in insider trading, and inflict reputational damage that can run into millions of dollars.

“While North Korea is a unique case of a nation-state conducting financially-motivated attacks — many of which have been against the banking sector — the techniques used by the country’s hacking units have also been adopted by organized crime groups, adding to their repertoire of ways in which to steal from banks,” the report cautioned.

Read the original article here: thenextweb.com


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