Financial security/ Cybercrime

Hackers infiltrated over 100 banks in several countries, stealing millions of dollars in possibly the largest bank theft the world has seen, according to a report published by the New York Times on Saturday.

The Times said it received an advance copy of an upcoming report by Moscow-based Kaspersky Lab that details how banks in Russia, Japan, the United States, and other countries fell victim to malware starting in late 2013 that allowed the hackers to watch video feeds, view daily operations, and impersonate bank officials.

The malware apparently allowed the hackers to transfer money from the banks to fake accounts. According to the Times, Kaspersky Lab said the total theft could be more than $300 million, although the cybersecurity firm has not nailed down an exact figure. Each transaction was limited to $10 million and some banks were hit more than once, according to the publication.

Report: Millions stolen from banks through sophisticated malware