National Bank of Blacksburg

July 24, 2018

Hackers Breached Virginia Bank Twice in Eight Months, Stole $2.4M

This post was originally published on this siteHackers used phishing emails to break into a Virginia bank in two separate cyber intrusions over an eight-month period, making off with more than $2.4 million total. Now the financial institution is suing its insurance provider for refusing to fully cover the losses. According to a lawsuit filed last month in the Western District of Virginia, the first heist took place in late May 2016, after an employee at The National Bank of Blacksburg fell victim to a targeted phishing email. The email allowed the intruders to install malware on the victim’s PC […]
August 12, 2018

FBI Warns of ‘Unlimited’ ATM Cashout Blitz

This post was originally published on this siteThe Federal Bureau of Investigation (FBI) is warning banks that cybercriminals are preparing to carry out a highly choreographed, global fraud scheme known as an “ATM cash-out,” in which crooks hack a bank or payment card processor and use cloned cards at cash machines around the world to fraudulently withdraw millions of dollars in just a few hours. “The FBI has obtained unspecified reporting indicating cyber criminals are planning to conduct a global Automated Teller Machine (ATM) cash-out scheme in the coming days, likely associated with an unknown card issuer breach and commonly […]
August 17, 2018

Indian Bank Hit in $13.5M Cyberheist After FBI ATM Cashout Warning

This post was originally published on this siteOn Sunday, Aug. 12, KrebsOnSecurity carried an exclusive: The FBI was warning banks about an imminent “ATM cashout” scheme about to unfold across the globe, thanks to a data breach at an unknown financial institution. On Aug. 14, a bank in India disclosed hackers had broken into its servers, stealing nearly $2 million in fraudulent bank transfers and $11.5 million unauthorized ATM withdrawals from more than two dozen cash machines across multiple countries. The FBI put out its alert on Friday, Aug. 10. The criminals who hacked into Pune, India-based Cosmos Bank executed their […]