There have been an increased number of cybercrimes involving bank heists.  The largest heist jackpot of $1 billion was recorded in 2015.  The threat actors or cyber criminals stole from 100 banks in over 30 countries.  The Carbanak Gang is behind reported sophisticated heist and its latest malware has the gang’s name. Kaspersky Labs, a Moscow-based security firm, highlights Carbanak malware, dispersing cash from automated teller machines (ATMs) without human intervention.    An ongoing bank heist investigation by the U.S. dates back to February 2016 and heist was worth $81 million.  Cyber criminals were able to transfer $81 million of the $1 billion from the Federal Reserve Bank of New York to an account based in the Philippines.   A suspected method of intrusion was hacking a remittance service called Society for Worldwide Interbank Financial Telecommunication (SWIFT). SWIFT’s process in transferring money is a bank account number, postal address of bank and a SWIFT code.   According the report by Newsweek and filed by The New York Times, the rightful owner of millions was Bangladesh Central Bank, and the Philippines returned $15 million after court intervention. A more recent heist was performed on several banks in the former Soviet states, using empty bank accounts.  According to Trustwave SpiderLabs’ investigation, hackers were able to manipulate overdraft protection on accounts setup by proxies and used ATMs in other countries to withdraw monies from empty bank accounts.  SpiderLabs estimates the heist to be in the millions.  This heist was a combination of credit card fraud, mules, phishing campaigns and hacking.  Professor Sir David Omand, Commissioner at the Global Commission on Internet Government, had remarked, “The internet was never designed to be secure, its originators thought it was a wonderful global innovation, as it is, but of course the criminals have taken advantage of the weaknesses which are inherent in this kind of networks or networks.”

^{Resources:
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Gallagher, S. “Criminals stole millions from E. Europe banks with ATM “overdraft” hack.” 10 October 2017, ARS Technica, https//arstechnica.com/information-technology/2017/10/wave-of-cyber-bank-heists-in-former-soviet-states-netted-40m-in-real-cash/. Accessed 01 November 2017.
Ellyatt, Holly, and Tso, Karen. “Cyber bank heists no surprise as online security lags behind: Expert.” 06 June 2016, CNBC, https//www.cnbc.com/2016/06/06/cyber-bank-heists-no-surprise-as-online-security-lags-behind-expert.html. Accessed 01 November 2017.
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Ross, E. ” U.S. Investigates North Korea Involvement in $81 million bank heist.”  23 March 2017, Newsweek,  http//www.newsweek.com/81m-bank-heist-probably-north-korea-experts-say-572613 Accessed 01 November 2017.
Snider, Mike, and Whitehouse, Kaja. “Banking hack heist yields up to $1 billion.” 16 February 2015, USA Today, https//www.usatoday.com/story/tech/2015/02/15/hackers-steal-billion-in-banking-breach/23464913/. Accessed 31 October 2017.
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