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Baker Boyer is always improving and investing in new fraud protection systems to protect our client’s data as well as their assets. Although the ‘Carbanak’ Malware has received a lot of exposure over the last few weeks here is what the analysis from the American Bankers Association has revealed so far.

We will continue to monitor the situation and invest in additional protection resources as they become available. Thank you for your continued trust in Baker Boyer.

U.S. Banks Unbreached by ‘Carbanak’ Malware
No U.S. banks have been breached by a malware-based campaign to hack bank systems known as Carbanak, according to the Financial Services Information Sharing and Analysis Center, which collects, analyzes and shares information about cyber threats on banks.

Carbanak, described in a report yesterday from security firm Kaspersky, was widely covered by media outlets over the weekend. Cyber criminals used phishing efforts to get bank employees to unknowingly download malware that would give the criminals access to bank systems. The hackers would then use their access to initiate unauthorized wire transfers or ATM disbursement.

Kaspersky estimated that affected financial institutions could lose as much as $1 billion as a result of Carbanak. Although the firm’s report said that some of the approximately 100 affected institutions were U.S.-based, FS-ISAC CEO Bill Nelson said that “from what we can see, no U.S. financial institutions have been compromised, and no money moved out of U.S. banks, in terms of losses.”
ABA is working closely with FS-ISAC to monitor the situation.

Read the Article HERE.