(WASHINGTON) JUST IN: North Korean Hackers are tapping into bank accounts around the world to make fraudulen t ‘ money transfers ‘ and cause ATM’s to pay out cash government warned on Wednes day #AceSecurityDesk report

#AceSecurityReport – Aug.27: A technical cybersecurity alert jointly written by four different federal agencies, including the Treasury Department and FBI, said there had been a resurgence in financially motivated hacking efforts by the North Korean regime this year after a lull in activity: “Since February 2020, North Korea has resumed targeting banks in multiple countries to initiate fraudulent international money transfers and ATM cash outs,” the warning reads:

U.S Cyber Alert Report: North Korean hackers ramp up bank heists including FBI & Treasury Dept: Reuters.Com/

U.S. law enforcement titled the hacking campaign “Fast Cash” and blamed North Korea’s Reconnaissance General Bureau, a spy agency, for it. They described the operation as going on since at least 2016 but ramping up in sophistication and volume recently:

Over the last several years, North Korea has been blamed by U.S. authorities and private sector cybersecurity companies for hacking numerous banks in Asia, South America and Africa: “North Korean cyber actors have demonstrated an imaginative knack for adjusting their tactics to exploit the financial sector as well as any other sector through illicit cyber operations,” Bryan Ware, a senior cybersecurity official at the U.S. Homeland Security Department, said in a prepared statement.

Cybersecurity experts and foreign policy analysts have said these types of hacking operations are conducted to help fund the North Korean government, which is cash-strapped due to expansive sanctions continuously placed on it by the U.S. and other western countries: “The continued attacks are proof of the reliance the regime has on these funds, along with being a testament to their technical ability and determination,” said Vikram Thakur, a technical director for U.S. cybersecurity firm Symantec.

#AceSecurityDesk report ………..Reuters: Reporting by Christopher Bing; Editing by Tom Brown

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