The banking sector has always been at the center of criminal attention. Today, banks must contend with near-constant cyber attacks from organized criminal gangs, as well as highly skilled and well-resourced threat actors working on behalf of nation-states. In recent years we have seen multiple APT groups launching sophisticated attacks on financial institutions around the…

Philippine Bank Chaos as Money Goes Missing From Accounts

A major Philippine bank shut down online transactions and cash machines on Wednesday after money went missing from accounts, triggering fears it had been hacked even as company officials said it was an internal computer error. Customers of Bank of the Philippine Islands (BPI) were shocked on Wednesday morning to see unauthorized withdrawals and deposits…