Friday, 5 May 2017

Criminals Drain European Bank Accounts Using SS7 Security Flaw

A known security flaw in the Signaling System 7 (SS7) protocol, which controls the way mobiles exchange calls and text messages across the globe, has been used by cyber criminals to  crack into the  European bank accounts. According to German newspaper S├╝ddeutsche Zeitung the vulnerability was exploited in January  and used to bypass the two-factor authentication European banks were using to secure access to customer accounts. The attackers were able to use SS7 to redirect text messages used by the banks to send one-time-use passwords to their own numbers then use ‘mobile transaction authentication numbers (mTANs) to transfer money out of a targeted account.

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ORIGINAL SOURCE: Silicon UK

The post Criminals Drain European Bank Accounts Using SS7 Security Flaw appeared first on IT SECURITY GURU.



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