Doug on Cloud

Blog archive

Cloud Makes Hacking a Snap

I may be naïve, but I find it hard to believe that malware (especially automated malware) in these days of layered protection, can steal millions and millions of dollars from highly successful financial institutions.

But that is precisely the claim of McAfee and Guardian Analytics, who just published a report on the subject that printed loss figures (but didn't name the names of those companies who got hacked).

The malware is based in part on Zeus, and is cleverly (I guess) named High Roller since the companies it steals from have lots of dough.

The hacks are a combination of hands-on hacking and automated pilfering of ongoing financial transactions.

McAfee believes as little as $75 million and as much as $2.5 billion may have been lifted, but with a range this wide, does McAfee really have any clue?

The question 1105 Web Editor Chris Paoli asks is, does the cloud make this kind of hacking that much easier? My hope is it doesn't while my fear is it does.

What is your take on all of this? Is it really still this easy to steal this much money and not get caught? You tell me at [email protected].

Posted by Doug Barney on 07/17/2012 at 12:47 PM


Subscribe on YouTube