Tag Archive for: bank

Parliamentary panel summons bank officials, tech giants over cyber security and threat on July 4

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The Parliamentary Standing Committee for Finance on Friday called a meeting over cyber security and cyber threats on July 4. The parliamentary panel has summoned senior officials of various banks to give detailed presentations on how to prevent cyber threats in the country.

The subject for the meeting is ‘Cyber security and rising incidence of cyber/white collar crimes.’ “Oral evidence of the representatives of Punjab National Bank (PNB), Bank of India, Yes Bank and Indian Computer Emergency Response Team (CERT-In) on the subject ‘Cyber security and rising incidence of cyber/white collar crimes,” the committee agenda read.

The panel has also summoned the representatives of Paytm, Flipkart, Google and Apple. “Oral evidence of the representatives of One97 Communications (Paytm), Flipkart, Google and Apple on the subject ‘Cyber security and rising incidence of cyber/white collar crimes’,” it mentioned. The standing committee has expressed concerns over the rising number of cyber threat cases in the country.

Lok Sabha MP Jayant Sinha is the Chairman of the Standing Committee on Finance. The Committee consists of 31 members; 21 members from Lok Sabha and 10 from Rajya Sabha. (ANI)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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Venezuela’s Largest Bank Allegedly a Victim of Ransomware Attack

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Twitter users are reporting that Banco de Venezuela, the largest bank in the country, has fallen victim to a ransomware attack. Cybersecurity portals monitoring these attacks have confirmed the information.

Banco de Venezuela issued a statement regarding the spread of information on social media without denying or confirming the news.

The LockBit Ransomware Attack

On the morning of April 19, Twitter users began discussing that Banco de Venezuela had been affected by the LockBit ransomware. Several specialized computer security portals have since confirmed a publication on the darknet about the bank domain bancodevenezuela[.]com exists.

LockBit is malicious software designed to encrypt a victim’s files or data, making them inaccessible. The attackers behind LockBit ransomware then demand a ransom, usually in the form of cryptocurrency, from the victim to decrypt and regain access to their files. It often spreads through phishing emails or using brute-force attacks on weak passwords.

The ransomware attack appears to have not seized the bank’s platform equipment, as electronic services seem to be functioning normally, per Banco de Venezuela’s official statement:

“We would like to inform you that our platform and electronic channels are operating normally and providing the usual service, with complete integrity and security.”

Still, there is a possibility that the attackers may have taken hostage all the information they managed to collect and are demanding a ransom for it.

Potential Implications of the Hack

The seized information could include both internal bank operations and customer data. The hacking announcement states:

“All available information will be published.”

Aside from the evidence in the published photos, no further details about the obtained information were provided.

Banco de Venezuela Falls Victim of Ransomware Attack
Banco de Venezuela Falls Victim of Ransomware Attack. Source: BetterCyber

According to LockBit’s portal, the hacking information was uploaded to their portal at 6:27 AM Caracas time on April 19. The publication states that the bank has until May 10 at 2:27 AM Caracas time to pay the ransom.

The ransom amount was not disclosed, but it is known that LockBit only accepts payments in…

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Detroit man sentenced to prison for hacking into bank accounts, stealing $300K

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A Detroit man was sentenced to prison for stealing more than $300,000 from the bank accounts in a criminal enterprise, Michigan Attorney General Dana Nessel said Wednesday.

Johnny Richardson, 28, was sentenced to three to 20 years behind bars for conducting a criminal enterprise that included gaining cellphone data of victims and hacking into their bank accounts for money or to take out loans, according to Nessel’s office. Richardson will be required to pay for court costs, crime victim fees and $309,210 in restitution.

Richardson already is serving eight years in prison for operating an unemployment fraud scheme during the COVID-19 pandemic. He pleaded guilty in July 2021 to stealing $138,000 in COVID aid.

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Detroit man sentence to prison for hacking into bank accounts, stealing $300K

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A Detroit man was sentenced to prison for stealing more than $300,000 from the bank accounts in a criminal enterprise, Michigan Attorney General Dana Nessel said Wednesday.

Johnny Richardson, 28, was sentenced to three to 20 years behind bars for conducting a criminal enterprise that included gaining cellphone data of victims and hacking into their bank accounts for money or to take out loans, according to Nessel’s office. Richardson will be required to pay for court costs, crime victim fees and $309,210 in restitution.

Richardson already is serving eight years in prison for operating an unemployment fraud scheme during the COVID-19 pandemic. He pleaded guilty in July 2021 to stealing $138,000 in COVID aid.

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