South African Banks Lose Out In Dexter Malware Fraud

[InfoSec News <alerts () infosecnews org>]

http://www.redorbit.com/news/technology/1112976684/dexter-malware-strikes-south-africa-banks-101613/

By Peter Suciu
redOrbit.com
October 16, 2013

The Showtime series Dexter wrapped up its run last month, but the serial 
killer lives on – and not in ways that the show runners or the network 
would likely have had in mind. South African banks have been hit by 
malware known as “Dexter” that could be one of the biggest cyber-fraud 
attacks in its history.

According to the Payment Association of South Africa (PASA), the body that 
oversees local financial transactions, a payment card system of thousands 
of shops, restaurants and hotels had been compromised and losses are in 
the tens of millions of rands – just over $1 million (US).

“There’s not a single bank that hasn’t been affected,” PASA Chief 
Executive Officer Walter Volker told Bloomberg in a phone interview on 
Tuesday. “We first detected higher volumes of fraud early in the new 
year.”

The hackers are believed to have loaded software via compromised computers 
at various outlets, which captured the data stored on the magnetic strip 
of a bank card. From here the hackers were able to either produce their 
own fraudulent cards or may have sold the compromised data to a third 
party.

[...]

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