That Insane, $81M Bangladesh Bank Heist? Here’s What We Know
WHEN REPORTS SURFACED in February of a spectacular bank hack that sucked $81 million from accounts at Bangladesh Bank in just hours, news headlines snickered over a typo that prevented the hackers from stealing the full $1 billion they were after.
Last week the snickering stopped with new reports that the hackers struck a second bank, and possibly others—though authorities won’t say if those heists were equally successful. Bank hacks have traditionally focused on stealing the login credentials of bank account holders—either individuals or small businesses. Billions have been stolen successfully in this way. But the hacks in this case targeted the banks themselves and focused on subverting their SWIFT accounts, the international money transfer system that banks use to move billions of dollars daily between themselves.
As details continue to trickle out about how the heists unfolded, here’s a look at what we do and don’t know so far.
What is SWIFT?
SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication and is a consortium that operates a trusted and closed computer network for communication between member banks around the world. The consortium, which dates back to the 1970s, is based in Belgium and is overseen by the National Bank of Belgium and a committee composed of representatives from the US Federal Reserve, the Bank of England, the European Central Bank, the Bank of Japan and other major banks. The SWIFT platform has some 11,000 users and processes about 25 million communications a day, most of them money transfer transactions. Financial institutions and brokerage houses that use SWIFT have codes that identify each institution as well as credentials that authenticate and verify transactions.
T: Technology ID: 657 I: 537 P: 13.77 C: 0.0037
DIC - 2016 Cyber crime consequences. Thirty-four arrested after international probe by BBC News
Dec 2016 Thirty four people, including teenagers, have been arrested after an international police operation involving EU and US authorities.
The action targeted users of Distributed Denial of Service (DDoS) cyber-attack tools.
Twelve of the suspects were arrested in the UK as part of an investigation led by the National Crime Agency (NCA).
Authorities across a total of 13 countries made the arrests between 5 and 9 December.
The NCA said that it had targeted users of software called Netspoof, a computer program that could direct huge volumes of internet traffic at websites and web servers in order to disable them.
Following the UK arrests, a 27-year-old man from Hamilton in Scotland was charged with offences under the Computer Misuse Act.
T: Technology ID: 675 I: 472 P: 13.88 C: 0.0042
Ransomware-fighting coalition adds members and decryption tools By @lconstantin from @Computerworld
The No More Ransom project, a coalition of law enforcement and security companies, has expanded with 30 new members and added 32 new decryption tools for various ransomware variants.
The project, which consists of a website dedicated to fighting ransomware, was originally launched by Europol’s European Cybercrime Centre in partnership with the National High Tech Crime Unit of the Netherlands police, Kaspersky Lab, and Intel Security.
The website has a tool that allows users to determine which type of ransomware has affected their files but also contains general information about ransomware, prevention advice, and instruction on reporting incidents to law enforcement.
One section of the website is dedicated to decryption tools that participating companies have developed for various ransomware variants. The creation of such tools is possible because some ransomware programs have flaws in their cryptographic implementations.
T: Technology ID: 706 I: 377 P: 13.96 C: 0.0053
50 of the Top IoT Authorities on Twitter by @brian_buntz
The Internet of Things Institute rounded up IoT rock stars and influential IoT organizations on Twitter. Feel free to let us know if you feel we missed someone at @IoTIPenton.
T: Technology ID: 678 I: 477 P: 14.03 C: 0.0042
Marketing Of Shipping Container Farms Leaves Internet Of Things Behind The Scenes by @Chase_IoT
he Internet of Things may be taking a turn toward invisibility when it comes to marketing, at least in how a new connected farm is being positioned.
Freight Farms, the company that turns shipping containers into year-round farms, is introducing a new connected farm unit that is four times smaller than its flagship offering.
The new farm is geared toward small and medium sized businesses and restaurants who might want to grow their own produce and the connected features that make the product operate aren’t being positioned front and center
Rather, the connectivity is seen as an expected feature set in the eyes of the modern day customer, according to Freight Farms.
The IoT Daily talked with the Freight Farms team at a product reveal event in Boston over the weekend about how connectivity and the Internet of Things play into the products and how they are positioned in the market.
T: Technology ID: 624 I: 667 P: 14.50 C: 0.0030
Students like them, teachers less so: robots in classrooms. by @wef
Robots are increasingly being used to teach students in the classroom for a number of subjects across science, maths and language. But our research shows that while students enjoy learning with robots, teachers are slightly reluctant to use them in the classroom.
In our study, which saw staff and students interact with the Nao humanoid robot, teachers said they were more sceptical of robots being integrated into the classroom.
They preferred the robot to not have full autonomy and instead take on restricted roles in the classroom. The teachers also wanted full control over the robot. We observed that the teachers were in general unaware of robots and hence there was a technological bias associated with their opinions.
T: Technology ID: 176 I: 1166 P: 6.74 C: 0.0017
Online Map Tool Helps You to Design a Better Map
Many cartographers are often anxious about creating a map that is not attractive enough. In the latest updated version of SuperGIS Desktop 3.3 and 10, Supergeo will support users to add more free online maps and make your map more gorgeous.
T: Technology ID: 293 I: 1209 P: 7.51 C: 0.0017
These new materials will change the world
New materials can change the world. There is a reason we talk about the Bronze Age and the Iron Age. Concrete, stainless steel, and silicon made the modern era possible. Now a new class of materials, each consisting of a single layer of atoms, are emerging, with far-reaching potential. Known as two-dimensional materials, this class has grown within the past few years to include lattice-like layers of carbon (graphene), boron (borophene) and hexagonal boron nitride (aka white graphene), germanium (germanene), silicon (silicene), phosphorous (phosphorene) and tin (stanene). More 2-D materials have been shown theoretically possible but not yet synthesized, such as graphyne from carbon. Each has exciting properties, and the various 2-D substances can be combined like Lego bricks to build still more new materials.
T: Technology ID: 326 I: 1168 P: 7.68 C: 0.0017
Coming soon, Alternative to Li-ion batteries.
With features like large driving range and short tank stops, Nanoflowcell attacks the existing electromobility paradigm at its weakest points: The company claims driving ranges of 1000 kilometres for vehicles equipped with its electrolyte-based liquid battery twice as much as the currently most advanced battery-operated e-cars. And with a simple refill process at a kind of gas station that would not require significantly more time than filling the tank of a gasoline or diesel vehicle, the usability barrier of existing electromobility through lengthy charging stops would be cleared away. The company recently announced that its Quantino vehicle succeeded has been driven for 14 hours without a refill, and all of this under realistic driving conditions. But while Nanoflowcell hitherto aimed at series production of its cars, albeit in low quantities, the company now apparently has changed its strategy and is offering its energy storage technology to carmakers.
T: Technology ID: 313 I: 1207 P: 7.69 C: 0.0017
A one-stop solution to make your home smarter
Remember the Jetsons and their awesome smart home? The 1960s kids’ favorite cartoon is set in the distant year of 2062, where the connected homes become an integral part of families and define the world around them.
So how is it possible that according to Forrester’s 2015 survey only 13% of US households own at least one smart home device? Well, as it turns out Smart Home gadgets are still a hard sell.
One of Internet of Things’ basic concepts is the ability to control products remotely using a smartphone or a computer. And it’s this fundamental concept that became the source of reservations for potential buyers, as they fear the devices could be hacked by intruders or used by vendors to gather data about users’ behavior.
T: Technology ID: 160 I: 1343 P: 7.76 C: 0.0015
Encrypting emails, files for clients is crucial, but not always followed
Regulators require advisory firms to securely manage the information of their clients, though not necessarily through encryption. Some states, including Massachusetts, California and Nevada, require advisers to encrypt personally identifiable information of their clients .
T: Technology ID: 103 I: 1344 P: 7.77 C: 0.0015
Software Developer Skills
It is difficult to figure out where to invest time in training as a developer.
With the vast array of technology, language and platform choices available today, it can be very difficult to figure out where to best invest time in training your skills as a software developer.