Skip to content

Bank Hacking Guide: A Theoretical Approach

Simulated attempted intrusion of a client's IT infrastructure, often undertaken by certain security firms under the practice known as 'red teaming.'

Guide on theoretically breaching a bank's security system
Guide on theoretically breaching a bank's security system

Bank Hacking Guide: A Theoretical Approach

In the digital age, understanding the exposure of one's IT infrastructure has never been more crucial. Organisations can scrutinise information available online, positioning their security defences accordingly to combat potential threats.

One such threat comes in the form of zero-day flaws, which have been prevalent in Java, making it a prime target for hackers. In the Pwn2Own hacking competition, researcher James Forshaw from Context successfully compromised Java using a newly identified zero-day flaw.

The attack on a bank's IT infrastructure often begins with targeting employees. Hackers employ various methods, such as spearphishing, social engineering, or even distributing infected USB drives to employees. In some cases, they might impersonate employees on LinkedIn or create fake accounts to spread malware within an organisation.

Red teaming, a service provided by certain security consultancies, simulates realistic adversaries to identify security vulnerabilities. Common techniques used in red teaming include social engineering, penetration testing, OSINT gathering, and exploiting network vulnerabilities.

To defend against these attacks, organisations should implement multi-factor authentication (MFA) and strong access controls, train employees to recognise and resist social engineering attacks, and maintain real-time network and endpoint monitoring. Regular red teaming exercises and penetration testing can also help proactively uncover vulnerabilities and improve resilience.

Defending against red teaming requires a holistic cybersecurity strategy addressing technical, physical, and human vulnerabilities. The Cyber Kill Chain, a general plan of attack for infiltrating a bank's IT systems, involves addressing every stage of the attack, preventing them if possible, and if not, accumulating enough information to defend against later stages.

In a recent red team exercise, Context Information Security discovered a JBoss server by using information gathered from LinkedIn about the target company's IT staff. The server was logged into via the web interface using the factory preset username and password, highlighting the importance of strong password practices.

When a suspicious email or attachment is identified, analysing Exchange logs can help find out whether there are other recipients or if there are other emails with similar subject lines. Once an employee's PC has been infected, the malware can call back to a remote command and control server, allowing a hacker to investigate the corporate network.

Anti-virus software should not be overlooked as a defence mechanism against advanced attacks, as they often rely on known malware. However, when a new vulnerability is identified, it can be used to build a new malware infection that will not be detected by anti-virus software.

In summary, understanding the tactics used in red teaming and implementing robust defence strategies is essential for banks to protect their IT infrastructure. A holistic approach, addressing technical, physical, and human vulnerabilities, is key to effectively countering these sophisticated attacks.

  1. Strengthening data-and-cloud-computing security is crucial, as hackers can exploit zero-day flaws, like the one found in Java, to infiltrate a bank's IT infrastructure.
  2. To safeguard against red teaming and advanced attacks, it is essential for organisations to adopt a holistic cybersecurity strategy, encompassing strong password practices, multi-factor authentication, employee training, real-time monitoring, and regular penetration testing.

Read also:

    Latest