Bank man: System's down, let's have coffee. Oh SNAP, where's all the CASH?

[InfoSec News <alerts () infosecnews org>]

http://www.theregister.co.uk/2013/08/21/cyberheist_ddos_smokescreen/

By John Leyden
The Register
21st August 2013

Cybercrooks are running distributed denial of service attacks as a 
smokescreen to distract bank security staff while they plunder online 
banking systems, according to a researcher.

Avivah Litan, vice president at Gartner Research, reports that cyber 
criminals looking to attack financial institutions are getting more 
ambitious by targeting the internal wire applications of entire banks, 
instead of individual accounts, and covering their tracks using 
simultaneous denial of service attacks against bank systems as a 
distraction.

Fraudulent money transfers have traditionally been pulled off by taking 
over a mark's bank account and moving money into accounts of “money 
mules”. The stolen cash is then passed around between mules until it ends 
up in the accounts of the cyber criminals. However, Litan says that the 
latest evolution of these attacks uses DDoSes as a cover for much more 
damaging attacks:

[...]

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