ATM cyber heists hit Pakistan banks
ATM cyber heists hit Pakistan banks
FIA official Abdul Ghaffar Mirani told Arab News that investigators have unearthed a scam of about $105,000 and expected the number to rise after digital forensic experts searched confiscated equipment and cloned debit cards used by the scammers.
Mirani withheld the exact number of people arrested but said that mostly Chinese nationals had been taken into custody. “Our team is probing further as more complaints are pouring in and data is being compiled from other cities,” he said.
The cyber heist is being dealt with by the FIA’s National Response Center for Cyber Crime (NR3C), the country’s only technology-based crime division, which was set up 10 years ago and assists other law enforcement agencies in Pakistan.
On Friday, FIA Director Shakeel Durrani said at a press briefing that the investigation had revealed the involvement of Canadian, Nigerian and Italian hackers, as well as an Indian scammer identified as Sorev.
The information was divulged by Saqibullah, a Rawalpindi resident running a racketeering business, who as their front man sold stolen financial information to the hackers. He is also involved in identity theft, credit debit card cloning and extortion. His arrest has expanded into a FIA investigation searching for his collaborators.
Durrani said, “The prime suspect (Saqibullah) would take photos of ATM machines to match suitable skimming machines that were ordered from other countries.”
The cash withdrawals from the hacked accounts were in China, Canada, Italy, Nigeria, Indonesia, Malaysia, US, but were not limited to those countries, he said.
Revelations of the ATM-skimming scam were revealed last week by the country’s largest financial institution, Habib Bank Limited (HBL), which confirmed more than $105,000 had been stolen from 559 hacked HBL customers, mostly in the cities of Karachi and Lahore.
“We have more than 10 million customers, which means that the size of the amount missing is not very significant for the HBL, while the number of customers affected is also low, said HBL’s corporate and marketing executive Naveed Asghar, who was reported in a local English daily. “It is a fraud and we must check it and find the culprits ... it happens in all the countries that use ATMs,” he said.
Banks using outdated technology fitted with aging security protocols attracted a “organized foreign group” to hack the ATM booths, suggests the FIA, which is approaching the State Bank of Pakistan, the country’s banking regulator, to introduce biometric policy and enforce it across the banking spectrum.
An HBL official in Islamabad told Arab News: “The practice of skimming is not new,” but the bank’s new biometric security measures, currently being introduced in its ATMs, “will prevent and curb future hacks.” Though HBL seems to be the main target, Standard Chartered Bank, Faysal Bank Limited, Bank Al Habib Limited and other banks have also fallen victim to cybercrime, he said.
“Officially the bank hasn’t sent out warning notifications to customers of this continuing fraud but we are compensating the affected account holders. An internal memo has been circulated for each bank branch to check and monitor the ATMs,” the banking officer said.
Fear and fanfare as Hong Kong launches China rail link
- Critics say the railway is a symbol of continuing Chinese assimilation of Hong Kong, which returned to Chinese rule in 1997 with guarantees of widespread autonomy and freedoms not enjoyed on the mainland, including an independent legal system
HONG KONG: Hong Kong’s controversial bullet train got off to a smooth start on Sunday, as hundreds of passengers whistled north across the border at speeds of up to 200 kph (125 mph), deepening integration of the former British colony with mainland China.
While the $11 billion rail project has raised fears for some over Beijing’s encroachment on the Chinese-ruled city’s cherished freedoms, passengers at the sleek harborfront station were full of praise for a service that reaches mainland China in less than 20 minutes.
“Out of 10 points, I give it nine,” said 10-year-old Ng Kwan-lap, who was traveling with his parents on the first train leaving for Shenzhen at 7 a.m.
“The train is great. It’s very smooth when it hits speeds of 200 kilometers per hour.”
Mainland Chinese immigration officers are stationed in one part of the modernist station that is subject to Chinese law, an unprecedented move that some critics say further erodes the city’s autonomy.
The project is part of a broader effort by Beijing to fuse the city into a vast hinterland of the Pearl River Delta including nine Chinese cities dubbed the Greater Bay Area.
Beijing wants the Greater Bay Area, home to some 68 million people with a combined GDP of $1.5 trillion, to foster economic integration and better meld people, goods and sectors across the region.
Critics say the railway is a symbol of continuing Chinese assimilation of Hong Kong, which returned to Chinese rule in 1997 with guarantees of widespread autonomy and freedoms not enjoyed on the mainland, including an independent legal system.
But at a ceremony on Saturday ahead of the public opening, Hong Kong leader Carrie Lam praised the so-called “co-location” arrangement with Beijing which the government has said is necessary to streamline immigration.
Scores of excited passengers straddled a yellow strip across black tiles that highlighted the demarcation line between Hong Kong and mainland China, while others passed through turnstiles surrounded by red, orange and white balloons.
“I’m excited to experience the high-speed train, even more excited than when I take a plane,” said a 71-year-old retiree surnamed Leung.
While there have been questions over whether Hong Kong residents would be able to access foreign social media, largely banned in mainland China, in zones subject to Chinese law, some passengers arriving in Shenzhen, on the mainland side, were able to bypass China’s so-called Great Firewall.
The rail link provides direct access to China’s massive 25,000-km national high-speed rail network and authorities on both sides have hailed it as a breakthrough that will bring economic benefits, including increased tourism.
“No matter what you think about the new line, high-speed rail is extremely convenient,” said Feng Yan, assistant professor at the Communication University of China in Beijing who took the bullet train from Shenzhen to Hong Kong.
“Even if it takes some time for people to realize how convenient it is, sooner or later they will.”