Lack of cyber security leads to $45 million heist

By VAR_Staffing
In Channel
May 21, 2013

VAR_Staffing / VAR Staffing

With the way that technology is becoming intertwined with daily business operations, the need for proper security protocols continues to grow. While it may seem like only a small handful of cyber criminals are able to really do damage with a computer, a recent heist of $45 million shows that is far from the case.

The incident happened in December 2012 but is just coming to light now. The global scheme saw a couple of hackers breach an Indian pre-paid credit card system. Once inside, they raised the withdrawal limits on five specific accounts and a second group used the cards to hit 2,904 ATMs across the globe and take out the cash in a matter of hours. MasterCard contacted the U.S. Secret Service after it noticed the 4,500 transactions that took place at the ATMs.

Robert Rodriguez, a special agent with the Secret Service for 22 years and now the chairman of Security Innovation Network, told the New York Times that the crime was just a group of criminals who found a weakness and exploited it. He added that the dynamics of the internet and cyberspace are moving so fast that security experts are having a hard time keeping up with the criminals.

"It demonstrates the kind and scope of financial crimes that are enabled in a network-connected world, particularly by those who have some skill although not necessarily the highest level of skill, quite frankly, but who can coordinate timing and the like," U.S. Homeland Security Secretary Janet Napolitano told the Reuters Cybersecurity Summit in Washington.

As the business world becomes more reliant on technology, it must make sure that it is able to handle any potential security risks. By partnering with a VAR or MSP that specializes in cyber security, a company can rest easy, as long as that solution provider used VAR Staffing to find the most impactful talent on the market. 

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