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From money to data - cyber crime target shifts
Bank robberies no longer refer to masked men with guns; a much more sophisticated method of attack – cyber crime – has accelerated of late as a series of hacks across the world has proven
2 May 2016, 10:45am
Staff Reporter
Staff Reporter
1 min read
In some cases, hackers are not stealing money from banks, but choose rather to expose personal details about customers
Recent international targets, including the US Federal Reserve, the Central Bank of the Philippines and Qatar National Bank (QNB) in Doha, have all been subject to notable security breaches.
Interestingly enough, however, is the fact that in some cases, no money is being stolen. In QNB's case, it was data theft – details from hundreds of customers’ account, including their passwords, their social media profiles, were posted onto a whistle-blower website. The reason behind the information leaks is unknown, but it has proven that data is almost more valuable than money these days.
With safety of the consumer remaining an issue due to the slow-paced movements of the enterprise world as apposed to that of the ever-evolving technological capacity of the hacking world, the public is forced to brace for further and harder hitting attacks.
