Lazarus, Cobalt, and FIN7 Cyber Groups Allegedly Opened Fire on the Financial Industry

A study titled “Follow the Money” by Outpost24’s Blueliv that addressed the financial sector, aims to identify and follow groups that are big perpetrators of financial theft and fraud. The Lazarus, Cobalt, and FIN7 threat groups were determined to be the most common threat actors targeting financial institutions. As the Covid-19 pandemic has further aggravated the situation by disrupting training and operations, it’s no surprise that cyber attacks on financial institutions are on the rise. 

Attacking banks provide various possibilities for profit for cybercriminals through extortion, theft, and fraud, while nation-states and hacktivists also target the financial industry for political and ideological leverage. The Strategic Technologies Program investigates the evolution of cyber risks to the financial system, as well as legal and regulatory attempts to improve its defenses.

Lazarus is a North Korean state-sponsored advanced persistent threat (APT) group that has been linked to high-profile assaults on Sony Pictures Entertainment, the Bangladesh Bank via SWIFT, and the WannaCry ransomware epidemic in 2017. Banks, casinos, financial investing software producers, and crypto-currency enterprises are among the companies involved. 

The group’s virus has lately been discovered in 18 nations around the world. A vulnerability in one of the targeted organization’s servers is discovered by the Lazarus team. It infects a website that was accessed by employees of a particular organization, uses malware to access th

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