Threat actors target financial institutions due to the potential for significant financial gains and access to sensitive customer data.
These entities are attractive targets for threat actors seeking lucrative opportunities and avenues for money laundering, fraud, and ransom.
While successfully compromising, the financial institutions can deliver valuable information to the threat actors for future attacks.
The Turkish nationalist hacker group Turk Hack Team recently attacked the world’s largest cooperative financial institution, Crédit Agricole Group.
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Hackers Attack on Cooperative Financial Institution
HS banking services faced disruptions as Crédit Agricole’s website and app in France went offline for hours recently, citing ongoing maintenance.
With 25 million customers affected, access issues persisted, but some users reported restoration by the afternoon’s end.
Customers flooded social media with complaints about Crédit Agricole’s inaccessible site and app.
The bank acknowledged a “technical incident,” promising swift resolution, though the message was later removed.
The issue appeared to stem from a DDOS attack by flooding servers to render them inaccessible, reads Le Parisien report.
Turk Hack Team, which was formed in 2022, has claimed responsibility, pledging further attacks on infrastructure and banking systems by aiming to escalate their attacks.
The group made the headlines for attacking La Poste Services (Postal service company) and ANSSI, the French cybersecurity agency, with possible damage in Belgium.
Threat actors were motivated by politics, and they targeted French entities in response to arms deliveries to Armenia.
Last October, France’s former head diplomat mentioned agreements for future military equipment deliveries to Armenia, which sparked the group’s actions.
Despite traditionally relying on Moscow for arms and hosting Russian troops and a military base, Armenia seeks new Western partners as tensions with Russia rise.
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