Last week, security firm RSA detailed a new cybecriminal project aimed at recruiting 100 botmasters to help launch a series of lucrative online heists targeting 30 U.S. banks. RSA’s advisory focused primarily on helping financial institutions prepare for an onslaught of more sophisticated e-banking attacks, and has already received plenty of media attention. I’m weighing in on the topic because their analysis seemed to merely scratch the surface of a larger enterprise that speaks volumes about why online attacks are becoming bolder and more brash toward Western targets.Krebs has a detailed and insightful analysis, and if you bank online you really need to RTWT. What is most interesting is the quote from the hacker who is organizing this effort, vorVzakon:
The campaign, purportedly to be rolled out between now and the Spring of 2013, proposes organizing hacker cells throughout the cybercriminal community to collaborate in exploiting these authentication weaknesses before U.S. banks erect more stringent controls. “The goal – together, en-masse and simultaneously process large amount of the given material before anti-fraud measures are increased,” vorVzakon wrote. A professionally translated version of his entire post is available here.
The long arm of the law may or may not reach onto Russian soil, particularly with the Russian government increasingly unimpressed with Hillary Clinton's "Overload" button. Given the recent court decision ruling that banks do not have to cover losses due to hacked accounts, my advice is that you should not bank online until this settles down. Call your bank have have them set up a block on electronic transactions, and you should be in decent shape.