In a sophisticated cyberattack campaign, the Carbanak banking Trojan, manipulated by the hacker group Fin7, caused substantial financial loss to banks in over thirty countries. Leveraging a malware, the attackers infiltrated financial institutions' networks through phishing, enabling them to commit ATM jackpotting and compromise point-of-sale data. This operation, detailed by Europol, spanned several years with the criminals meticulously planning each intrusion, which lasted two to four months. The total theft exceeded €1 billion, marking it as one of the most significant financial cybercrimes. The impact extended beyond financial loss, raising concerns about cybersecurity measures in the banking sector and the evolving threats of sophisticated malware. Arrests in Spain and the U.S. have made some headway in dismantling the network, yet the full scope of Carbanak's reach and the current status of Fin7 remain concerning.
Source: https://carnegieendowment.org/specialprojects/protectingfinancialstability/timeline
TPRM report: https://scoringcyber.rankiteo.com/company/europol
"id": "eur310050824",
"linkid": "europol",
"type": "Ransomware",
"date": "06/2018",
"severity": "100",
"impact": "5",
"explanation": "Attack threatening the organization’s existence"{'affected_entities': [{'industry': 'Financial Services',
'location': 'Over thirty countries',
'type': 'Banks'}],
'attack_vector': 'Phishing, Malware',
'description': 'A sophisticated cyberattack campaign involving the Carbanak '
'banking Trojan, orchestrated by the hacker group Fin7, '
'resulted in substantial financial losses for banks in over '
'thirty countries. The attackers used malware to infiltrate '
"financial institutions' networks through phishing, enabling "
'ATM jackpotting and compromising point-of-sale data. This '
'operation, detailed by Europol, spanned several years with '
'each intrusion lasting two to four months. The total theft '
'exceeded €1 billion, making it one of the most significant '
'financial cybercrimes. The impact extended beyond financial '
'loss, raising concerns about cybersecurity measures in the '
'banking sector and the evolving threats of sophisticated '
'malware. Arrests in Spain and the U.S. have made some headway '
"in dismantling the network, but the full scope of Carbanak's "
'reach and the current status of Fin7 remain concerning.',
'impact': {'financial_loss': 'Over €1 billion'},
'initial_access_broker': {'entry_point': 'Phishing',
'high_value_targets': 'Financial institutions',
'reconnaissance_period': 'Two to four months'},
'investigation_status': 'Partial arrests in Spain and the U.S.',
'motivation': 'Financial Gain',
'post_incident_analysis': {'root_causes': 'Phishing and malware infiltration'},
'references': [{'source': 'Europol'}],
'threat_actor': 'Fin7',
'title': 'Carbanak Banking Trojan Attack by Fin7',
'type': 'Cyberattack'}