Could Software Analytics Platforms Extinguish The Threat Posed By Hackers?

August 21, 2018

"The FBI has obtained unspecified reporting indicating cybercriminals are planning to conduct a global Automated Teller Machine (ATM) cash-out scheme in the coming days, likely associated with an unknown card issuer breach and commonly referred to as an ‘unlimited operation’," read the statement.

No, it’s not the plot twist to the latest Hollywood thriller but a real-life warning issued by the FBI this week.

Indeed, just days later the FBI’s warning rang true as a group of cyber criminals, allegedly linked to North Korea’s Lazarus Group, stole $13.5 million from the Indian Cosmos Bank. The group was able to breach the firewall in servers that authorized ATM transactions creating a new proxy server. The proxy, in turn, was then able to instruct ATMs to release money without checking whether cards inserted into the machine were genuine or if a bank account even existed.

The number of hacks increased in 2017 by 27.4% meaning that the need for better cyber-security is greater than ever. Can the widespread implementation of software analytics platforms that identify weak points in software as it is designed be the solution?

Read more at Forbes

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