"Russian State Hackers Attempted to Block Ukrainians From Opening US Bank Accounts"

During two weeks in March 2022, 95 percent of the accounts opened at major US banks were fraudulently created. According to Rachel Wilson, managing director and head of cybersecurity for Morgan Stanley's Wealth Management division, many were created by Russian state hackers who conducted a Denial-of-Service (DoS) attack to block Ukrainian war refugees from transferring their money to American financial institutions. Wilson recalled in a recent opening keynote address at the InfoSec World conference that a normal fraud rate for actors signing up for accounts online with false or stolen identities would have been between 30 percent and 40 percent in the previous months. However, in February 2022 and March 2022, that number spiked to 75 percent and then to 95 percent. This article continues to discuss Russian state hackers attempting to prevent Ukrainians from opening US bank accounts.

SC Media reports "Russian State Hackers Attempted to Block Ukrainians From Opening US Bank Accounts"

Submitted by grigby1