Corporate Account Takeovers Is Not an American-only Problem!

South Korean banks’ customers become victims of pharming hackers.

Financial authorities in South Korea say a group of hackers are responsible for a large-scale hacking scheme. The thieves made off with hundreds of individual’s personal financial transaction information. The Korea Financial Telecommunications and Clearings Institute (KFTC) reports the group was able to steal 461 certificates of authenticity which they used to withdraw cash from the accounts.

A method known as “pharming” was used to gather victims’ login information and other credentials. This method involves sending a user to a fabricated web page which looks identical to that of their local bank. Major South Korean banks such as Shinhan Bank Co., Kookmin Bank, and Woori Bank were targeted by the hackers.

Security experts, meanwhile, continue to stress the importance of online bank customers reading the webpage URL to make sure the site is not a fake.

Original article by Yonhap News.
Read the full story here.

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