[mothered]

Greetings to all,

The Insecurities of entities In both the cyber and non-technological physical environments, Is of no surprise. This Is the latest report on a data breach pertaining to two of the largest Canadian banks.

The Bank of Montreal and CIBC’s Simplii Financial online bank said they are investigating apparent breaches of customer information, each apparently involving tens of thousands of customers.

Late Monday the CBC said several news services had received an email apparently from the hackers, who said they were demanding $1 million in cryptocurrency or customer names and information would be publicly released.

CBC said to prove the legitimacy of the threat, the email included unencrypted customer names, social insurance numbers and answers to security questions that allegedly were stolen. The email also outlined how the attackers were able to breach bank defences.

Both banks were contacted Sunday by alleged perpetrators who claim to have accessed personal and account information belonging to tens of thousands of customers.

Source.

[DarkMuse]

Not surprised, Ransomware got to be most notorious back in 2016, and it's been on the decline in favor of IoT botnets so far, but they are still an incredibly dangerous threat. Idk about Canada, but the US needs to be taking better strides to protect government systems, and buisnesses need to start stepping up.

Here's a fun fact:
The Equifax breach? 45% of all SSN's were stolen. 99 million addresses.



Edit: Changed CryptoLocking to Ransomeware because my brain doesn't work correctly most of the time

[mothered]

Not surprised, Ransomware got to be most notorious back in 2016, and it's been on the decline in favor of IoT botnets so far, but they are still an incredibly dangerous threat.

Definitely agree.

A handful of work clients fell victim to ransomware attacks and due to the nature of the business, they could not afford downtime. They ended up paying the demand- just to get the workflow back to normality. You'd think they'd have backups on-hand, but It wasn't the case.

[singlehandlogic]

id hate to pay the irs on all that crypto tax lol

[mothered]

id hate to pay the irs on all that crypto tax

You have Abraham Lincoln to thank for that.

Well, not personally anyway.

[Dexdeniro]

Shit these people are crazy 1m in coins is so much money if invested....

[xyzo]

Well, it is understandable that the hackers are asking for a million USD in crypto.
Considering the fact that it will ruin the ba(n)ks public relations with their customers for months or even years on and will most likely cost the financial institution more than +1M USD in damages.
On the other hand - If the ban(k)s does decide to pay there will be alot more individuals attempting to breach the same financial institutions for sensetive data and ransom them to them as they know they will pay.

[mothered]

If the ban(k)s does decide to pay there will be alot more individuals attempting to breach the same financial institutions for sensetive data and ransom them to them as they know they will pay.

Simply stated, It will set an example to subsequent attackers- with the knowledge that they will receive payment.

They (banks) should have a serious look at their overall security from both a technical and social engineering standpoint, and Implement corrective measures accordingly to help fend off future attacks.