McAfee reveals Global Financial Fraud Ring

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

McAfee reveals Global Financial Fraud Ring 
McAfee and Guardian Analytics have uncovered a global financial fraud ring. So far, McAfee estimates the criminals have attempted somewhere between €60 million and €2 billion in fraudulent transfers from at least 60 banks.
This fraud empire, dubbed Operation High Roller, is comprised of at least a dozen groups that use active and passive automated transfer systems to steal high-value transactions from high balance accounts. The Operation High Roller attacks have impacted thousands of every class of financial institution: credit union, large global bank and regional bank, using smaller and less detectable automated transactions. 
"We need to remember that criminals are agnostic when it comes to the colour of money. This latest series of coordinated, highly automated attacks moves quickly through multiple continents, scales easily and suggests collaboration across multiple criminal specialists. The size and resources of the bank does not seem to matter either: global banks, regional banks, credit unions have all been impacted and targeted," said Michael Sentonas, Chief Technology Officer - Asia Pacific, McAfee.

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