Chinese Hackers steal US Covid funds
The US Secret Service alleged that a Chinese hacking group stole tens of millions of dollars from US Covid-19 relief funds. The incident has increased the threat that the US and its citizens are facing from threat actors.
State-sponsored cyber criminal group APT41 scammed and stole $20 million that was used as a pandemic relief during Covid-19.
Experts say this is the first theft of APT41, it is known for cyber espionage and financial cyberattacks. But this time, it is confirmed that APT41 has targeted US government funds. The money consists of small business administration plans and unemployment insurance funds.
It also shows APT41’s capability to defraud the US on a bigger scale, given the depth of details it has retrieved about American citizens.
“Fintech companies contracted by the federal government to process pandemic payouts rushed through processing applications in pursuit of higher fees, which contributed to the fraud that occurred, according to a report by the US House Select Subcommittee on the Coronavirus Crisis published on December 1. The key issue at hand is the state-sponsored group’s ability to scale future fraud attempts via automated technology and troves of taxpayer data China is believed to have obtained after security breaches at credit bureau Equifax and the US Office of Personnel Management, Hamilton said. OPM houses all
[…]
Content was cut in order to protect the source.Please visit the source for the rest of the article.
Read the original article:
