recommended reading

Threatwatch

Barclays computer coughs up $2.1 million to gangsters

Social engineering; Unauthorized use of system administrator privileges

Police found a keyboard video mouse, or KVM, switch attached to one of the branch's computers.

Eight men between ages 24 and 47 have been arrested for their roles in a gang that took control of the Barclays Bank machine.

A man purporting to be an IT engineer placed installed the device a day before the theft on April 5.

“A KVM switch, which has a 3G router attached, allows a user to control multiple computers. This enabled the gang to remotely transfer funds to other back accounts,” explains the BBC.

Barclays officials said they were able to recover a significant amount of the stolen money.

"We identified the fraud and acted swiftly to recover funds on the same day. We can confirm that no customers suffered financial loss as a result of this action,” a bank official said.

The money was transferred from the branch in Swiss Cottage in north London.

The raid might be tied to an attempted cyber heist of Santander that was revealed last week.

The same police team is carrying out both investigations.

A detective said the arrests "are a different level, it's really the top tier of this criminal network that have been arrested. . . All criminal networks have a head and we very much believe we have now apprehended our 'Mr. Big' as part of this operation."

ThreatWatch is a regularly updated catalog of data breaches successfully striking every sector of the globe, as reported by journalists, researchers and the victims themselves.

sector

Financial Services

reported

September 20, 2013

reported by

BBC

number affected

Unknown

location of breach

London, UK

perpetrators

Criminals

location of perpetrators

London, UK

date breach occurred

April 05, 2013

date breach detected

April 05, 2013

Thank you for subscribing to newsletters from Nextgov.com.
We think these reports might interest you:

  • It’s Time for the Federal Government to Embrace Wireless and Mobility

    The United States has turned a corner on the adoption of mobile phones, tablets and other smart devices, outpacing traditional desktop and laptop sales by a wide margin. This issue brief discusses the state of wireless and mobility in federal government and outlines why now is the time to embrace these technologies in government.

    View
  • Featured Content from RSA Conference: Dissed by NIST

    Learn more about the latest draft of the U.S. National Institute of Standards and Technology guidance document on authentication and lifecycle management.

    View
  • A New Security Architecture for Federal Networks

    Federal government networks are under constant attack, and the number of those attacks is increasing. This issue brief discusses today's threats and a new model for the future.

    View
  • Going Agile:Revolutionizing Federal Digital Services Delivery

    Here’s one indication that times have changed: Harriet Tubman is going to be the next face of the twenty dollar bill. Another sign of change? The way in which the federal government arrived at that decision.

    View
  • Software-Defined Networking

    So many demands are being placed on federal information technology networks, which must handle vast amounts of data, accommodate voice and video, and cope with a multitude of highly connected devices while keeping government information secure from cyber threats. This issue brief discusses the state of SDN in the federal government and the path forward.

    View
  • The New IP: Moving Government Agencies Toward the Network of The Future

    Federal IT managers are looking to modernize legacy network infrastructures that are taxed by growing demands from mobile devices, video, vast amounts of data, and more. This issue brief discusses the federal government network landscape, as well as market, financial force drivers for network modernization.

    View

When you download a report, your information may be shared with the underwriters of that document.