Operation High Roller

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Operation High Roller was a series of fraud in the banking system in different parts of the world that used cyber-collection agents in order to collect PC and smart-phone information to electronically raid bank accounts.[1] It was dissected in 2012 by McAfee and Guardian Analytics.[2] A total of roughly $78 million was siphoned out of bank accounts due to this attack.[3] The attackers were operating from servers in Russia, Albania and China to carry out electronic fund transfers.[4]

Specifications

This cyber attack is described to have the following features:[5]

  • Bypassed Chip and PIN authentication.
  • Required no human participation.
  • Instruction came from cloud-based servers (rather than the hacker's PC) to further hide the identity of the attacker.
  • Included elements of "insider levels of understanding".
  • Banks in Europe, United States and Colombia were targeted.
  • Impacted several classes of financial institution such as credit unions, large global banks, regional banks, and High net-worth individuals.

While some sources have suggested it to be an extension of Man-in-the-browser attack[6] Operation High Roller is reported to have harnessed a more extensive level of automation distinguishing it from the traditional methods.[7]

See also

References

  1. ↑ Rachael King, Operation High Roller Targets Corporate Bank Accounts, Wall Street Journal, June 26, 2012
  2. ↑ "Operation High Roller auto-targets bank funds", CNET News
  3. ↑ Time magazine (onlie) Business and Money, "How Exactly Do Cyber Criminals Steal $78 Million?", July 3rd 2012
  4. ↑ SC Magazine : "High roller" fraud campaign persists, origin revealed Danielle WalkerOctober 29, 2012
  5. ↑ Huffington Post on Operation High Roller, By Michael Rundle, June 26th 2012
  6. ↑ DailyTech, June 26, 2012, "High Roller" Hacker Attack is Stealing Hundreds of Millions From the Rich
  7. ↑ The Register, June 27th 2012, 'Operation High Roller' stole from the rich to give to unknown auto-mule crims in the cloud

External links

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