Sberbank helped one of the largest US banks to prevent a cyber attack
In July, Sberbank helped one of the largest US banks to prevent a cyberattack and avoid damage of several million dollars. Deputy Chairman of the Board of Sberbank Stanislav Kuznetsov announced this at the Eastern Economic Forum.
“At the end of July, our cyber defence center recorded an attack on one of the largest American banks. We informed the Bank, informed the relevant departments of payment systems to prevent the withdrawal of funds. At least several million dollars were saved,” he said.
At the same time, Kuznetsov refused to tell which Bank was exposed to attack.
Kuznetsov shared the details of the cyberattack scheme. According to him, the fraudsters managed to hack one of the acquiring terminals and conduct a large number of operations. In the United States, PIN verification of transactions up to $130 is not required. As a result, at one moment the resources of several banks were attacked through a large number of operations.
At the same time, he stressed that this is a clear example of the fact that credit institutions should detect such attacks in an automated mode and not allow any actions directed against customers of both Russian and foreign organizations.
In addition, Stanislav Kuznetsov said at the Forum that Sberbank recorded about 2 thousand attacks on its systems in the first half of the year and prevented possible damage from them in the amount of at least 25 billion rubles.
According to him, the Bank noted the growth of social engineering.”This is a trend to collect data about a person and corporations, and the second trend – we see that scammers focus on those companies that are poorly protected, and this is small and medium-sized businesses,” he noted.
At the end of his speech, Kuznetsov said that North Korea’s attacks on Russian banks are a myth, the threat to Russian resources comes “from another direction”.
It is worth noting that this is the Fifth Eastern Economic Forum, held in Vladivostok on September 4-6.