Banking Fraud

If you’ve ever sat in on a cybersecurity hearing on Capitol Hill or attended a security conference , then you’re no doubt familiar with the oft-preached need for information sharing and private-public partnerships. So frequently repeated are these refrains that they’re almost as meaningless as the acronym “APT.”

A recent fraud ring through which attackers raided high-value bank accounts, nicknamed Operation High Roller (.PDF), employed attacks that were quick, required no human interaction and have already affected several tiers of credit unions, regional banks and large global banks, over the last several months.

We spend our days combing the ‘Net for interesting security happenings and also noting the great work that other reporters and researchers are doing on the security front. Usually that means traditional reporting work: pulling together information from a bunch of different sources, digging for information that hasn’t been made public and then synthesizing it to make sense of what’s going on.

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