Hackers steal $1bn from banks

A hacking ring has stolen up to $1bn (€876m) from banks around the world in one of the biggest banking breaches known, according to a cybersecurity firm.

The hackers have been active since at least the end of 2013 and infiltrated over 100 banks in 30 countries, according to Russian security company Kaspersky Lab.

After gaining access to banks’ computers through phishing schemes and other methods, they lurk for months to learn the banks’ systems, taking screen shots and video of employees using computers, the firm says.

Once the hackers become familiar with operations, they use that knowledge to steal money without raising suspicions, programming ATMs to dispense money at specific times or setting up fake accounts and transferring money into them .

The firm’s report is due to be presented today at a security conference in Cancun, Mexico. It was first reported by The New York Times.

The hackers seem to limit the theft to about $10m before moving on, part of the reason why the fraud was not detected earlier, Kaspersky principal security researcher Vicente Diaz said.

Most of the targets have been in Russia, the US, Germany, China, and Ukraine

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