Thursday, February 5, 2009

Hackers Rob RBS WorldPay!


RBS WorldPay lost $9 million during 30-minute system breach

The US payments processing system of Royal Bank of Scotland Group, RBS WorldPay, in just half of an hour period during a global ATM robbery, involved 100 cloned cards in 49 cities, around the world supposedly lost $9 million. First RBS reported in a press release, as issued during the busy pre-Christmas season on 23 December default in its computer systems and the fraudulent use of 100 cards.

Though only 100 cloned cards were used, the hackers managed to withdraw up to $9 million by lifting the daily withdrawal limits on each card, so that they could be used over and over again. The bank confirmed that the personal information of 1.5 million pre-paid cardholders had been exposed as its computer system had been incorrectly accessed in November by an unauthorized party. The true extent of the fraud has been presented in a FBI law enforcement officials report on New York Fox 5, where they reported the channel that a network of cashiers was used to withdraw money from 130 different ATM machines in 49 cities around the world after the midnight on 8 November. Actually FBI does not suspect and has not made any arrests in this robbery. But class-action lawsuit against RBS WorldPay has been filed for supposedly failing to protect personal information.

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