Tag: financial sector
84 articles
Deepfakes Expose Verification Gaps in Corporate Security
Imagine receiving a call from your CFO on a Friday afternoon, urgently asking you to make a supplier payment before the weekend - only to discover it was a sophisticated deepfake designed to deceive you. With 62% of organizations already falling victim to deepfake attacks, it's clear that corporate security verification gaps are a pressing concern.
AI Agent Exposes OTP Bypass Flaw in Major Insurer's Production Site
In a surprising test, an AI-driven pentesting agent uncovered a major security flaw, effortlessly bypassing a one-time passcode (OTP) on a leading insurer's production website used by millions. By manipulating just two values, the agent successfully redirected the OTP to an email inbox it controlled, allowing a seamless login.
Chinese Hacker Exploits AI Tools in South Korean Bank Cyberattacks
A Chinese hacker recently unleashed a targeted cyberattack on South Korea's financial sector, leveraging a cutting-edge AI-powered penetration testing suite called ARTEX alongside clever Claude agents to breach defenses. The sophisticated attack used multiple AI tools, including DeepSeek and Grok, to outsmart security measures.
Cybercriminal Money Laundering Operation Exposed
Meet Oleg Korniev, a Ukrainian-Russian dual citizen who just pleaded guilty to masterminding a massive money laundering operation that relied on 15,000 US-based "money mules" to funnel over $14.7 million in stolen funds for cybercriminals worldwide.
AI-Powered Pentesting Tool Exploited in South Korean Financial Data Heists
Meet ARTEX, an AI-powered pentesting tool that was originally designed for learning and research, but was repurposed by hackers to steal sensitive data from South Korean financial organizations. In a shocking campaign, attackers used ARTEX to breach security and get away with valuable information.
Chinese Hacker Exploits AI in South Korean Bank Data Heist
Meet the new face of cybercrime: AI-powered hacking. A Chinese hacker recently used agentic AI tooling, alongside traditional tactics, to pull off a massive data heist at a South Korean bank.
South Korea Probes AI-Powered Bank Breaches
South Korea's financial sector is reeling after a string of devastating data breaches at major banks, including Shinhan Bank and Kookmin Bank, which compromised the sensitive information of over 144,000 customers. The alarming incidents have triggered an emergency response from the Financial Services Commission, with officials launching urgent on-site investigations and sharing critical intelligence to contain the damage.
US Arrests Alleged Developer of Ploutus ATM Malware
A major breakthrough in the fight against cybercrime: US authorities have arrested Anibal Alexander Canelon Aguirre, the alleged mastermind behind the notorious Ploutus ATM malware that drained over $5.4 million from banks and credit unions nationwide. The suspect, also known as "Prometheus" and "The Engineer," was added to the FBI's Most Wanted list in 2026 and now faces charges of conspiracy to commit bank fraud.
Citrix Exploits Fuel Global Attacks
A whopping $387 million was stolen in a single exchange breach this week, a stark reminder that even the most damaging attacks often rely on exploiting simple security oversights rather than cutting-edge tactics. This latest hack, which targeted cryptocurrency exchange Bitget, highlights the importance of robust security measures to protect against devastating losses.
North Korea Targets Bitget in $387.5M Crypto Heist
North Korean hackers pulled off a brazen $387.5 million crypto heist by infiltrating a key backend system of Bitget, a leading crypto exchange, and exploiting it to siphon off digital assets. The attack, bearing all the hallmarks of a sophisticated North Korean operation, left Bitget's cold wallets and customer balances remarkably unscathed.
North Korean Hackers Steal $351.6M from Bitget in Backend Compromise
In a shocking security breach, North Korean hackers made off with a whopping $351.6 million from cryptocurrency exchange Bitget, compromising a limited number of hot wallets. Fortunately, customer account balances remain intact and trading operations are still running smoothly, with withdrawals temporarily paused while the company conducts a thorough security review.
North Korean Hackers Steal $351.6 Million in Bitget Crypto Exchange Breach
In a shocking breach, North Korean hackers made off with a staggering $351.6 million from the Bitget crypto exchange, prompting the company to temporarily suspend withdrawals while it investigates and beefs up security. Fortunately, customer accounts remain unaffected, with deposits and trading continuing as usual.
North Korean Hackers Infect 30,000 Devices in Global Cyberattack
In a massive global cyberattack, North Korean hackers infected a staggering 30,000 devices across over 100 countries, siphoning off a whopping $10.7 million in cryptocurrency. The brazen heist, which ran from December 2025 to July 2026, also compromised over 7,000 cryptocurrency wallets.
DORA Drives Network Visibility to Combat Cyber Threats
With DORA now in effect, financial institutions must turbocharge their network visibility to stay ahead of cyber threats and meet the regulation's stringent requirements. By moving beyond basic asset inventories, organizations can uncover hidden blind spots and ensure the security and resilience of their ICT ecosystem.
Revolut Phishing Attacks Surge After Data Breach
Hackers are taking advantage of a recent data breach at Revolut to ramp up phishing attacks, with scammers sending convincing smishing messages to customers in an attempt to harvest more account information. These attacks are getting more sophisticated, with scammers even collecting selfies or videos to fuel further identity fraud or scams.
North Korean Hackers Infect 30,000 Devices in Global Campaign
North Korean hackers have pulled off a massive global cyberattack, infecting 30,000 devices in over 100 countries and making off with millions in cryptocurrency. The financially motivated gang, known as WaterPlum, has been siphoning funds and account credentials from over 7,000 cryptocurrency wallets since December 2025.
Malware Exploits Browser Flaws to Force Install Malicious Extensions
A sneaky malware operation, tracked as KREMLIN, has infected 1,515 systems, mostly in Brazil, by secretly installing malicious Chrome and Edge extensions that steal sensitive info. This cunning toolkit impersonates banks to trick victims into giving up their credentials and session tokens.
Revolut Breach Exposes Sensitive Customer Data via Fake Government Requests
A scammer impersonated a government agency, tricking Revolut staff into spilling sensitive customer info through fake requests - a clever tactic known as a sophisticated external impersonation scam. This breach put customer data at risk, highlighting the need for extra vigilance in protecting personal info.
Gigabud Trojan Exploits Android Work Profiles to Evade Banking App Malware Checks
The sneaky Gigabud Trojan is exploiting Android work profiles to slip past banking app security checks, allowing it to secretly tamper with transactions and drain accounts. By creating a separate work profile, Gigabud can hide in plain sight and facilitate fraudulent payments that appear legitimate.
North Korea turbocharges cybercrime with AI-driven operations
North Korean hackers have turbocharged their cybercrime operations with AI-driven tactics, swiping a staggering $643 million in cryptocurrency in just the first half of 2026 - a whopping 66% of global crypto theft.
Slim Spider Targets Brazilian Finance with Cloud Credential Heists
Meet Slim Spider, a cunning cyber threat actor with a laser-like focus on Brazilian finance, expertly infiltrating cloud environments to steal sensitive credentials and target cryptocurrency assets and instant payment accounts. With a sophisticated grasp of Brazil's financial infrastructure, this adversary has been wreaking havoc on the country's financial sector since at least March 2026.
AI Cyberattacks Threaten Global Financial System Stability
The Financial Stability Board warns that AI-powered cyberattacks could spark a chain reaction of chaos in global markets, exploiting vulnerabilities in sovereign debt, private credit, and asset valuations. This threat is more than just a tech issue - it's a potentially disastrous blow to market confidence.
Financial Stability Board Warns of AI-Driven Cyber Risks
The Financial Stability Board warns that advanced artificial intelligence could revolutionize cyber threats, potentially shaking market confidence and posing a systemic risk, especially with highly concentrated third-party service providers. Its chair, Andrew Bailey, is urging the sector and authorities to prepare for this emerging threat.
Tech Giants Urge Global AI-Powered Cyber Defense Surge
The clock is ticking: over 100 tech giants, including OpenAI, Google, and Microsoft, are sounding the alarm that we must urgently boost our AI-powered cyber defenses to avoid a surge in sophisticated attacks. They're calling on us to take action now to reduce risk before it's too late.