British banks lose £20 million to Dridex malware

From Finextra –

“UK internet users are being warned to take guard against a virulent strain of banking malware that has succeeded in siphoning £20 million from individual bank accounts.

The alert from the UK's national Crime Agency centres on Dridex malware, also known as Bugat and Cridex, which has been developed by technically skilled cyber criminals in Eastern Europe to harvest online banking details. The Agency is encouraging all internet users to ensure they have up to date operating systems and anti-virus software installed on their machines, to protect themselves from further cyber crime attacks.”

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Cyber Lexicon: U.S., China Speak Different Languages

From BankInfoSecurity –

“Statements issued by the United States and China give a different take on cybersecurity talks scheduled to take place next week between Presidents Barack Obama and Xi Jingling.

Xinhua, the Chinese government news agency, reported on Sept. 12 that China and the U.S. have reached "important consensus on combating cybercrimes" after meetings late last week between a delegation of Chinese officials, headed by special envoy Meng Jianzhu, and top U.S. government officials, including National Security Adviser Susan Rice, FBI Director James Comey and Homeland Security Secretary Jeh Johnson.

But a terse White House statement issued that day acknowledges the gatherings took place, but does not characterize them, except to say that Rice's White House meeting with Meng involved "frank and open exchange about cyber issues."

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Why Cybercrime Now Exceeds Conventional Crime

From BankInfoSecurity –

“Online crime worldwide is increasingly displacing conventional forms of property crime, such as burglary and robbery.

In London, for example, police report that organized crime syndicates have been increasingly embracing cybercrime - in particular, payment card fraud and identity scams - given the potential for a vastly greater return on their investment, as well as much lower risk, U.K. cybersecurity expert Alan Woodward says in an interview with Information Security Media Group.”

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