--- title: Bank Hackers Use Malware To Steal An Estimated $300 Million | TIME description: The Carbanak malware infected more than 100 banks across the world, according to a new report from security firm Kaspersky. canonical: https://time.com/video/YsN5rpRD/ og:title: Bank Hackers Use Malware To Steal An Estimated $300 Million og:description: The Carbanak malware infected more than 100 banks across the world, according to a new report from security firm Kaspersky. og:url: https://time.com/video/YsN5rpRD/ og:image: https://cdn.jwplayer.com/v2/media/YsN5rpRD/poster.jpg?width=720 og:type: video.other twitter:card: summary_large_image twitter:title: Bank Hackers Use Malware To Steal An Estimated $300 Million twitter:description: The Carbanak malware infected more than 100 banks across the world, according to a new report from security firm Kaspersky. twitter:image: https://cdn.jwplayer.com/v2/media/YsN5rpRD/poster.jpg?width=720 --- # Bank Hackers Use Malware To Steal An Estimated $300 Million > Sponsored content. 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They are at time.com/newsletters and are separate from a paid subscription. ## Video: Bank Hackers Use Malware To Steal An Estimated $300 Million [Watch (HLS stream): Bank Hackers Use Malware To Steal An Estimated $300 Million](https://cdn.jwplayer.com/manifests/YsN5rpRD.m3u8) (1:53)  _Published 2015-02-16. The Carbanak malware infected more than 100 banks across the world, according to a new report from security firm Kaspersky._ --- Jul 27, 2023 5:56 PM UTC --- ## More From This Series [All Videos](https://time.com/video/) [Should You Have More Than One Bank?](/video/kgzPSgwO/) ### Should You Have More Than One Bank? [Is It Safe to Use an Online Bank?](/video/BKJR6lRs/) ### Is It Safe to Use an Online Bank? [Sophisticated Spying Malware Regin Drawing Lots Of Stuxnet Comparisons](/video/avjpNcij/) ### Sophisticated Spying Malware Regin Drawing Lots Of Stuxnet Comparisons --- ## Transcript An ATM in Kiev that kept dispensing wads of cash at random ended up exposing a massive criminal scheme to rob millions of dollars from banks across the world. That's according to The New York Times, which published an advanced copy of a report from security. Firm Kaspersky Lab Saturday. The report claims hackers infiltrated more than 100 banks across at least 30 nations. And made off with an estimated 300 million U. S. dollars. Though possibly as much as. Which was three times that amount. The attack began in late 2013 when the culprit sent tainted emails to hundreds of employees at different banks. Opening the email would download a malware program called Carbanak. Once inside the bank's system, Carbanak would latch on to an administrators computer and download a remote access tool, or RAT. The malware allowed hackers to log keystrokes, take screenshots. And even take over an infected computer. Kaspersky analyst, Sergey Golovanov, told the Times hackers then spent months learning the banks procedures and protocols. The goal was to mimic their activities. That way everything would look like a normal everyday transaction. The payoff came over a period of two to four months. When the hackers would use their knowledge of a bank's inner workings to manipulate account balances, and transfer money to dummy accounts or ATMs. All without the target banks suspecting a thing. So far, none of the banks effected by the hack have stepped forward. And thanks to nondisclosure agreements signed by Kaspersky, we don't know which institutions were hit, or how many people were effected. There's only one way to defend America from these cyber threats, and that is through government and industry working together, sharing appropriate information, as true partners. That's something the White House would like to change. During his recent cyber security summit, President Obama said companies should be required to disclose any financial breach they suffer. ```json {"@context":"https://schema.org","@type":"VideoObject","name":"Bank Hackers Use Malware To Steal An Estimated $300 Million","description":"The Carbanak malware infected more than 100 banks across the world, according to a new report from security firm Kaspersky.","thumbnailUrl":"https://cdn.jwplayer.com/v2/media/YsN5rpRD/poster.jpg?width=720","uploadDate":"2015-02-16T18:10:00.000Z","contentUrl":"https://cdn.jwplayer.com/manifests/YsN5rpRD.m3u8","embedUrl":"https://time.com/video/YsN5rpRD/","duration":"PT1M53S","potentialAction":{"@type":"SeekToAction","target":"https://time.com/video/YsN5rpRD/?jw_start={seek_to_second_number}","startOffset-input":"required name=seek_to_second_number"}} ```