![]() Want to help companies defend themselves against cybersecurity threats? Discover how with the Bachelor of Computer Science at UQ. If you were part of the team going up against the Lazarus Group, you need to outthink young Korean mercenary hackers.” “In cyber security, every day we wake up to a new problem, a new threat, or new vulnerabilities that are exposed to the world – so that’s kind of the nature of the job,” he says. Bluenoroffs most notorious cyber attack involving SWIFT being against the Central Bank of Bangladeshs New York Federal Reserve in 2016, when the group worked with Lazarus Group to steal 81 million dollars from the Reserve account, while it attempted to steal 851 million. These ever-evolving hacking methods mean you always need to be one step ahead of the threat. "It’s our job to discover them all and automate the process so we can predict these events before they happen.”īut according to Ryan, the nature of cyber security means that hackers will always find new ways to bypass systems. “We’re still innovating around how to discover errors and vulnerabilities," says Ryan. In 2016, a mysterious syndicate tried to steal 951 million from Bangladesh’s central bank - and laid bare a profound weakness in the system by which money moves around the world. The ethical hacker will then show the company their digital vulnerabilities and suggest how to create better cyber defences. With the consent of a company, an ethical hacker will seek out and hack a system in a professional manner. Some people refer to it as ethical hacking or ‘white hat’ hacking. Thirty-five fraudulent instructions were issued by security hackers via the SWIFT network to illegally transfer nearly 1B from the Federal Reserve Bank of New York account belonging to Bangladesh Bank. ![]() It’s like being the secret agent who thwarts the baddies by detecting threats to companies. Bangladesh Bank cyber heist, was a theft that took place in February 2016. However, the old way of protecting data isn’t the only way. The cyber security industry is always innovating to find new ways of detecting and preventing breaches. "But criminals are creative and find new ways to get around software." How can cybercrime be stopped? ![]() “The old way of doing things is still making sure that the mathematics of the security are complicated enough to protect sensitive information," says Ryan. So how do cybercrime fighters stay ahead of threats? Hackers move quickly to find new ways to bypass digital security systems. ![]() “In the Bangladesh Bank Heist, conducted by the Lazarus Group and connected to the North Korean Government, hundreds of millions of dollars were stolen and no one even noticed until 24 hours later,” Ryan says. Taking place in February 2016, hackers issued 35 fraudulent requests to illegally transfer close to US $1 billion from the Federal Reserve Bank of New York account belonging to the Bangladesh Bank to themselves.Īccording to Professor Ryan Ko, Chair and Director of UQ Cyber Security, the cyber heist was a stealth operation that went completely undetected as it happened. The Bangladesh Bank Heist was the first crime that woke the world up to the importance of cyber security. As computers become increasingly interconnected and support more services than ever, securing these systems becomes more challenging and more crucial. ![]()
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