Cybercrime Ring Stole Up to $1B From Banks

Security Firm: Cybercrime Ring Stole Up to $1B From Banks

Vocabulary 

Direction: Read each word and let the student repeat it.
uncover
[ʌnˈkʌvər] (verb)
– to discover something that was previously hidden or secret
ex.The truth is sometimes hard to uncover.

unprecedented
[ʌnˈpresɪdentɪd] (adjective)
– that has never happened, been done or been known before
ex.This level of violence is unprecedented.

dub
[dʌb] (verb)
– to give somebody/something a particular name, often in a humorous or critical way
ex.Pele has often been dubbed as “the greatest football player in history”.

pose
[poʊz] (verb)
– to pretend to be somebody in order to trick other people
ex.He posed as an IT specialist in order to enter the convention hall.

malicious
[məˈlɪʃəs] (adjective)
– having or showing hatred and a desire to harm somebody or hurt their feelings
ex.They have been spreading malicious lies about the President.

mimic
[ˈmɪmɪk] (verb)
– to copy the way somebody speaks, moves, behaves, etc., especially in order to make other people laugh
ex.They liked to mimic The Beatles in their concerts.

seize
[siːz] (verb)
– to take somebody/something in your hand suddenly and using force
ex.The police have seized the suspect and have taken him into custody

Article 

Direction: Read each paragraph and let the student repeat it.

Security Firm: Cybercrime Ring Stole Up to $1B From Banks

A multinational gang of cybercriminals has stolen as much as $1 billion from as many as 100 financial institutions around the world in about two years, Russian computer security company Kaspersky Labs said Saturday.

The company said it was working with Interpol, Europol and authorities from different countries to try to uncover more details on what it called an unprecedented robbery.

The gang, which Kaspersky dubbed Carbanak, takes the unusual approach of stealing directly from banks, rather than posing as customers to withdraw money from companies’ or individuals’ accounts. It said the gang included cybercriminals from Europe, including Russia and Ukraine, as well as China.

Carbanak thieves used carefully crafted emails to trick pre-selected employees into opening malicious software files, a common technique known as spear phishing, the company said. They were then able to get into the internal network and track down administrators’ computers for video surveillance.

In this way, Kaspersky said, the criminals learned how the bank clerks worked and could mimic their activity when transferring the money.

In some cases, Carbanak inflated account balances before pocketing the extra funds through a fraudulent transaction. Because the legitimate funds were still there, the account holder would not suspect a problem.

Kaspersky said Carbanak also remotely seized control of ATMs and ordered them to dispense cash at a predetermined time, when a gang member would be waiting to collect the money.

“These attacks again underline the fact that criminals will exploit any vulnerability in any system,” Sanjay Virmani, director of Interpol Digital Crime Center, said in a statement prepared by Kaspersky. “It also highlights the fact that no sector can consider itself immune to attack and must constantly address their security procedures.”

---

Questions 

Direction: Ask the students the questions, and give the answers.

1How many financial institutions have lost money as a result of the attacks?

100

2What is unusual about this group of hackers?

“The gang, which Kaspersky dubbed Carbanak, takes the unusual approach of stealing directly from banks, rather than posing as customers to withdraw money from companies’ or individuals’ accounts.”

3How did the criminals learn the way in which bank clerks worked?

Through “video surveillance”

4How did the criminals use ATM machines?

They “remotely seized control of ATMs and ordered them to dispense cash at a predetermined time, when a gang member would be waiting to collect the money.”

5What did Sanjay Virmani say about the attacks?

“These attacks again underline the fact that criminals will exploit any vulnerability in any system.”

Discussion 

Direction: Discuss the topics.

1What do you know about cybercrime?

Follow-up question1: Is this kind of criminal activity common in your country?
Follow-up question2: Most cyber attacks come from Russia and China. Why do you this happens?
Follow-up question3: Are these kind of crimes only about getting money?

2Is there any way to stop cybercriminals?

Follow-up question1: Do you think that there should be a special police force created to deal with cybercrime? Why or why not?
Follow-up question2: Have you ever been the victim of cybercrime?
Follow-up question3: Do you know anyone who has been a victim of cybercrime?

3Do you think the Internet is a blessing or a curse? Why?

Follow-up question1: Do you feel you are safe from cybercrime? Why or why not?
Follow-up question2: What can you do to protect yourself from cybercriminals?
Follow-up question3: Do you share a lot of personal information online? Why or why not?

Quoted from

http://www.voanews.com/content/security-firm-cybercrime-ring-steals-one-billion-from-banks/2644686.html