Biggest Biggest Cyber Cyber

Crimes Crimes 20142014

Cyber crime features as one of the top risks in 2014 and will continue to do in 2015. Production of malware on industrial scale, easy to use tool kits and off the shelf services are putting sophisticated attack methods in the hands of relatively unskilled cyber criminals.

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Hacking group Rex Mundi held Domino’s Pizza to ransom

over 600,000 Belgian and French customer records. Mundi

allegedly extorted thousands of dollars from the fast-

food chain.

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eBay went down in a blaze of embarrassment as it

suffered this year’s one of the biggest hacks. In May

2014, eBay revealed that hackers had managed to steal

personal records of 233 million users.

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One of the largest supermarket chains in the world,

Target, got hacked and credit card and personal details

of over 70 million customers were stolen. The worrying

part is that Target uses the same anti-hacker security

system that is used by the Pentagon and the CIA

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A group of Russian hackers managed to steal around 1.2 billion

accounts’ login details. There are around 2.9 billion internet

users in the world, which makes this one of the biggest

cybercrimes of the century. The Russian cyber gang comprises no

more than a dozen young boys. The names of the websites remain

unknown at the time but it is clear that the hack attack was

international in scope.

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As much as £650 million is thought to have gone missing after a Russian gang used computer viruses to infect networks in more than 100 financial institutions worldwide. They were able to impersonate bank staff online in order to transfer millions of pounds into dummy accounts. They were even able to instruct cash machines to dispense money at random times of the day even without a bank card.

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As cyber security incidents multiply in frequency and cost,

the cyber security programs of organizations do not rival

the persistence and technological prowess of their cyber

adversaries.

Although insurance cannot prevent a cyber attack, a well

structured insurance program can take of the financial

consequences of cyber crime.

To know more about cyber risks and how insurance can

protect you, write to us on info@optima.co.in

www.optima.co.in

info@optima.co.in