Cybercriminals Use Swiss Bank Accounts to Transfer Billions...er..."Trillions"

Posted by John B. Frank Wednesday, June 3, 2009

Online Criminals Transfer Trillions Through Swiss Bank Accounts

This is the story of how an amateur criminal used a simple piece ofcode and exploited some poorly written software to amass trillions ofdollars and then distribute his ill-gotten gains almost at random.

A few online games have already been launched, designed to takeadvantage of Twitter’s huge and rapidly expanding user base. Arguablyone of the most successful, or annoying, depending on your point ofview is Spymaster.

Spymaster is a game somewhat reminiscent of the Zombies, Vampires,Pirates, Zombie Vampire Pirates (ad infinitum) style games, that weretaking off on Facebook a couple of years back. Players recruit otherTwitter users to their “Spy Ring” gaining rewards for that and forother actions such as assassinations of fellow players. Notificationsfor all of these actions are of course posted up on each playersTwitter account, acting as advertising for the game. Some users havegone so far as to say that this kind of spam, as some see it, is ruining Twitter (some good tips for filtering out Spymaster tweets there too).

Well those same people may be very pleased to hear that the game waswell and truly exploited last night, to the point where the gamecreators have had to reset many player accounts and zero their bank balances and temporarily disable some game features, frustrating many players to the point of giving up on the game.

Continue Reading at CounterMeasures

0 comments

Post a Comment

Learn More About Us

Find out how our patented technology can empower your financial institution.

Our secure two-factor online banking authentication eliminates dangerous passwords and usernames and replicates the same trusted process used to access cash at ATM's. (Insert Bank Issued Card, Enter Bank Issued PIN)

There is an R.O.I. as FI's also earn recurring revenue from each transaction conducted using our PCI 2.0 Certified PIN Entry Device. Our technology also provides a unique real-time P2P "Instant-Transfer" which allows your online banking customer to transfer cash from ANY of their bankcards to ANY other bankcard...with the Swipe of a card.

Help your bank eliminate phishing and your customers avoid identity theft by providing them with the ability to stop typing and start swiping. There is no safer way to conduct financial transactions online than by 3DES DUKPT encrypting the cardholder details, which we do at the mag-head "inside the box/outside the browser."

All Top Banking