Data diddling is the alteration of data prior to the computer systems processing the request, then after the execution of the application, the hacker changes the data information bank. Adding one cent to people’s accounts would be a good example of this type of hacking.
This fraudulent activity targets financial systems specifically. A bank employee inserts a program into the financial systems, which deducts a small amount of money from every customer's account no account holder will notice this unauthorised debit, but the bank employee will make monthly money.
A hacker "slices" away small sums of money from multiple accounts.
The NDMC Electric Billing Fraud Case that occurred in 1996 illustrates how computers can be manipulated to defraud people. In this case, the computer network was used for receiving and recording electric bill payments by the NDMC, New Delhi. Automated collection of monies, accountancy, records maintenance, and cash transfer into the bank was solely left to a private company with a computer expert working for them. They misused the system to manipulate data so that they could claim fewer payments and less cash being transferred into the bank.
The Citibank hack was the first significant cybercrime involving banks. In 1994, Russian computer programmer Vladimir Levin tricked Citibank's computers into transferring money to his account. He then used the money to buy goods and services in various locations around the world. Levin pleaded guilty in January 1998, admitting that he had hacked into Citibank's systems and obtained the customer information.
Although Levin did not steal any money directly, he did gain control of funds belonging to others. Citibank denied that anyone within the bank helped Levin carry out the crime. However, no one has ever claimed responsibility for Levin's actions.
According to published reports (Citigroup), Citibank's internal systems detected suspicious activity involving two wire transfer requests totaling $26,800 and $304,000. When bank personnel contacted the Federal Bureau of Investigation, they could trace the source of the funds to an account belonging to Michael R. Levin, a resident of New York City. Telephone records showed that Levin had used his home telephone number to make the fraudulent requests. In addition, investigators determined that Levin had transferred money out of the United States through Western Union offices in Moscow, Russia.
Financial institutions, along with the customers, have several counter-measure options available to help stop diddling data attacks:
Managed security service providers offer services to help organisations with phishing attacks through the email channel. Data diddling attacks start with account takeover breaches from an email phishing campaign. MSSPs offer managed email security solutions, 24 x 7 incident response, and a Security center as-a-service to help give organisations resources and peace of mind when dealing with growing data diddling, ransomware, and email phishing attacks while maintaining compliance mandates.
MSSP's also provided security awareness services tohelp educate the end-user community on the various phishing attacks and how to identify hackers attempting data diddling attacks and data exfiltration.
LinearStack brings operational efficiencies with its security experts to help protect your data, respond to a cyber security incident, and protect your intellectual property. You are gaining peace of mind, lowering operational and infrastructure costs while maintaining a higher level of security and critical business drivers for hiring a managed security service provider.
Internal IT, SecOps, and DevOps focus on net-new tasks and projects and less on operational upkeep. Managed services provide the skills, services, and reliability. LinearStack can handle monitoring, security incident response, and system patch. The cost of an MSSP to handle these operational tasks will be less expensive.
This package is designed for small and medium enterprises to help with cybersecurity governance to provide their security adaptive controls, incidents, and processes are functioning correctly. Cybersecurity carriers will audit clients before renewal to validate that all security controls and other requirements are working. Leveraging an MSSP like LinearStack will meet these requirements.
Our package covers all stages of cyber defence, from gap assessment, remediation, and road mapping to 24 x 7 threat detection and response. This service helps support vulnerability management, protection of e-commerce environments, and continuous compliance mandates and regulatory requirements.
Our Technology and Architecture Implementation services are designed for organisations that need security frameworks tailored to their existing IT infrastructure and organisational goals to help secure the next-generation retail customer experience.
We live and breathe cyber security, which means we use the best software, know how to set it up for the best results, and learn how to run a robust program. You get access to the latest industry innovations and intelligence and a team of experts, so your team can sleep at night.
Seconds matter with security breaches, malware infection, and ransomware attacks. Our dedicated threat response teams are ready and alert, quickly identifying threats, searching through log data, making decisions, collaborating, and remediate incidents.
Founded in 2013 with a strong focus on world-class cyber security services, LinearStack was built from the ground up in Auckland, New Zealand. Our passion for making information security simple and accessible for all organisations is the fuel that fires our engine.
We’re a growing team of certified Cyber Defence Analysts, Threat Hunters, Incident Responders, CTI specialists, Malware analysts, security architectures, and engineers with two geo-redundant operations centers across the globe.
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