“Project Blitzkrieg is Credible” – Applauding the Discoveries of McAfee Labs

It’s no secret that I’m a huge fan of McAfee Labs.  I’ve written about the work this team has done on many occasions – completely impressed and in awe of the security threats and malware these researchers uncover every minute.  They publish their discoveries in the McAfee Quarterly Threats Reports and we proactively build out and enhance our security solutions to defend against these newly-discovered threats.

This week, national media reported on a story around a massive cyberattack on 30 U.S. banks that is planned to begin stealing millions of dollars from consumers’ bank accounts in the spring of 2013.  McAfee Labs has been following this fraud campaign, known as Project Blitzkrieg, and has confirmed that it is a credible threat.  Our researchers have discovered and confirmed that the malware has been lying dormant in U.S. financial systems and is scheduled to go active by the spring of 2013.

With the rise of cybercrime including ransomware and financial phishing, it’s critical that the community and businesses worldwide understand the magnitude of these threats.  No networks are immune to security vulnerabilities that are being identified and exploited by both work-alone hackers and those that are part of huge crime rings like this one.

“Analyzing Project Blitzkrieg,” by Ryan Sherstobitoff of McAfee Labs, is being referenced by dozens of media analysts and technology reporters because it clearly outlines the evolution and future intent of the Russian hacking group responsible for what is being called a “very credible threat.”  As the general manager of the McAfee Network Security business, I am entrenched in threats like this every day – which is why I was called on as a subject matter expert on a CNBC feature story, this CNN coverage, and was interviewed by CNN on the severity of the pending threat and what it might mean to the security of enterprise networks including the 30 financial organizations targeted in this attack.

While enterprises and financial institutions may have strong defenses in place to defend against cyber threats, it’s still critical that consumers and employees, who bring their own devices to work, understand the ramifications of their online behavior.  I can speak for McAfee when I say that we will continue using the data uncovered by McAfee Labs to create even more effective security solutions, while also generating consumer education and media awareness around those discoveries.

 

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