Comments On News: Barclays, Lloyds, RBS And HSBC All Hit By Travelex Cyber Attack

It has been reported that some of the UK’s biggest high street banks have been impacted following the cyber attack on Travelex – with Royal Bank of Scotland, HSBC and Barclays among those left with no online travel money services. More than a dozen of the major banking players, also including Lloyds Banking Group and Virgin Money, said their online foreign currency systems are down following the New Year’s Eve attack on Travelex. Many are offering customers services in branches, but orders cannot be processed online.


EXPERTS COMMENTS
Felix Rosbach, Product Manager,  comforte AG
January 10, 2020
If hackers get access to these tokens, the data is useless.
Working with third parties and sharing sensitive customer data always comes with high risks. Missing control over the infrastructure of third parties makes it sheer impossible to prevent attackers from getting access to such a complex network. Until a breach is completely analyzed by forensic experts you can’t be sure if or what data is affected – this is true for your whole network and also ....
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Javvad Malik, Security Awareness Advocate,  KnowBe4
January 10, 2020
The criminals also claim to have customer data which they are threatening to release unless payment is made.
The Travelex issue is rapidly becoming the gift that keeps on giving. After being hit with ransomware, the response from Travelex will certainly be showcased in the future as a prime example of how not to respond to a cyber incident. The lack of transparency about the extent of the impact to systems, customers, and partners is clearly having a knock on effect to banks. With the criminals behin ....
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Sam Curry, Chief Security Officer,  Cybereason
January 09, 2020
Globalised economies become increasingly interdependent with multiple points of failure progressively over time.
The latest Travelex drama is neither unexpected or surprising considering they have been mostly offline since the ransomware attack in late December. The bottom line is we are getting into a more fragile world, and we need to beef it up now. Overall, the inability of some of the world's largest banks to service its customers with online currency highlights the degree of interconnectivity and depen ....
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