Report On Recent Breach At First Union Bank

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Title: Report on recent breach at First Union Bank
Name: Sandeep K Reddy Udumala
Course: Information Security technology
Professor Name: Mr. Janos Mako
University: Northeastern University
Date: February 15, 2015 Deliverable #1 Hackers and their motives
This current generation of attacks, which includes the advanced persistent threats (APTs), is mainly focused on acquiring something valuable—sensitive personal details, intellectual property, authentication credentials, insider information, and the like. Skilled potential hackers tend to spread malicious bank Trojan viruses that allow remote access to a computer, manipulate a financial institution’s online information system, corrupt data, and impede the quality of an information
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Their motivation is pure financial gain.
A data breach, one of the threat exists allows the information and data to go out from the banking system, making it viewable to others. Some of the examples of potential hazards and which remain the main motives of the electronic banking system are during on-line transactions, transferring funds, and minting electric currency, etc.
In a recent report published at the end of last year, it was found that Trojans had been used to target more than 1,400 financial institutions in 2014, with the top US banks being the main target.
The main reason these attackers pop is for the violation of system security is all about the money, challenges to intercept data, challenges with acquaintance, data breach, and poor authentication and authorization. These Hackers have an infinite amount of time to craft a new attack while blacklist-based security solutions only have a split second to react. If the attack is a zero-day exploit, it will bypass definition-based security, such as WAFs. The integrity of the system can also be affected, when these irresponsible people alter and changing the data information in the system, for example exchange a sum of money to their own account.
It is important to realize how the security aspects in a banking system can influence such
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