The Attack On Kaspersky Lab

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In February 2014, there was a multi-bank cyber heist which was discovered by Kaspersky Lab. According to the report, the hackers infiltrated banks’ network system using tactics such as phishing to gain access to sensitive data which was used to siphon money from banks. It was reported that, the cybercriminal ring, known as Carbanak, siphoned more than $1 billion from banks around the world (Kuranda). According to other sources, the criminals were not arrested and there were reports of attempted attacked to other financial institution. So, the information technology security experts are on high alert to prevent future attacks. The discovery of the attack on Kaspersky lab, which was named “Duqu 2.0”, revealed a major threat to the information technology system (Kuranda). Kaspersky Lab is Moscow-based security vendor which provide data security system to many organization around the globe. So, such breach means a major threat to banks as well. Again, the hacking of JP Morgan/Chase which was published in the New York Times was a major blow to the financial institution. It was highlighted that the consumers lost confidence on safety of the online banking system because the attack affected small and big accounts. In this case, the JP Morgan Chase Bank data breach affected “accounts of seventy-six million households and seven million small businesses” (Silver-Greenberg, Goldstein, and Perlroth). Even the Chief Executive of the bank, Jamie Dimon acknowledged that attack on
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