Most businesses are yet to fully understand the menace of cyber hacks
to their business. For some of them, they would only understand its devastating
effect after they fall victim to such attacks. Here's a classical example of
how cyber-attacks are carried out with great precision.
A malware was sent to a computer in a bank. Once the malware has fully
settled and infiltrated the system, hackers were able to locate the
administrator's system for video surveillance. This gave them full access to
all the happenings in the bank and monitor staffs in charge of servicing funds
transfer. It was only a matter of time for this hacker to be able to mimic the
activities of staff. Using this same process, hundreds of millions were
transferred out of several banks.
This is not some fiction, action movie but a real life event. It always
starts with some form of malware - something so insignificant at first. While
businesses should be willing to invest more in cyber security, they should also
get coverage for loss or damages incurred through cyber insurance.
No comments:
Post a Comment