
Banks and Bank Robbers Embark on AI Arms Race
As cyber attacks become more frequent and costly, banks are increasingly turning to artificial intelligence to protect their networks—but so are the criminals.
The first recorded bank heist in US history occurred in 1831, when James Honeyman and William Murray entered the City Bank of New York, courtesy of forged keys—and made away with $245,000 in cash. Fast forward to 2016, and crooks made away with $1 billion from the Bangladesh Bank by using much the same tactic—although the forged keys were transmitted through the Swift network, via fiberoptic cables, sending fake instructions to the central bank’s account at the Federal Reserve Bank of New York.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Management & Strategy
Waters Wavelength
Waters Wavelength Podcast: Episode 226 (M&A and people)
On this episode of the Wavelength Podcast, Wei-Shen and Tony talk about the importance of communication when it comes to M&A activity within a company.
Subscribe to Weekly Wrap emails
Most read
- PanAgora’s CIO & head of sustainable investing explain firm’s ESG framework, best practices
- Itiviti’s Blueprint for Success—Investing in People and Products
- The curious case of Larry Fondren and DelphX
- Waters Wrap: Microsoft’s capital markets play (And Algorithmics thoughts)
- Confidential computing projects could answer industry’s cloud security questions