[stephenkhoo]

Unbelievable! This is really unbelievable just when CEO of DBS was interviewed ( here ) by media how he has worked out and standardized 70 % of his processes and then the next days you find such an embarrassing situation.

Amazingly you find 2 foreigners from Malaysia with daredevil and thought out process of skimming 2700 accounts

look at the skill and tools? I don't believe these 2 are rookies, do you? maybe semi pro or skilled amateurs. anyone at least who has a multimeter cannot be too dumb or empty headed.

[stephenkhoo]

is this the beginning of more fraud? what about the other banks?

[stephenkhoo]

Here is the article in ST

unbelievable..... happening right under our doorsteps. I've been to Bugis area its packed you find many young start ups especially retail stalls. The crowd is different from the normal crowd in Orchard or central and its something reminiscent of a Taiwan street alley culture. I suspect the 2 do not work alone themselves but probably has more connection behind a bigger web of crooks and fraud. Do you remember recently there was a Malaysian hacker who hacked into the US Fed? Is there a similar pattern? Interestingly Singapore don't seem to have any real hackers to date! we have cheaters who lie and do changes on paper such as the SIA scam and the forging of signatures and credit notes like APB case or the case of lawyers absconding with client money. It seems Singaporeans cheats are less technical and skillful why probably because we are stifled and our way of education is strict to conformity. Of course law and enforcement here is well executed, you hardly find pirated DVD or Blueray nowadays.

I hope this will not be a repeat of the Mas Selamat fiasco and I trust our enforcement agencies have the talent and resources to track these perpetrators and their cronies down.

Click Here

A US District judge sentenced a Malaysian to 10 years in prison for hacking into the US Federal Reserve and other banks. Lin Mun Poo, a Malaysian citizen, had admitted earlier this year to hacking into the US central bank, various private financial institutions and possessing stolen bank card and credit card numbers, officials said.



According to AFP, he also admitted to hacking into a Fed computer server and installing a malicious software code there.



Lin, who is from Ipoh, travelled to the United States in October last year “for the purpose of selling stolen credit card and bank card numbers” but a purchaser was in fact an undercover US agent, according to prosecutors.

When he was arrested, Lin held over 122,000 stolen bank card and credit card numbers. The US Justice Department said Lin’s “cybercrime activities also extended to the national security sector”, including hacking into the computer system of a Pentagon contractor that provides systems management services for military transport and other military operations.

“Today’s sentence sends the message to hackers around the world that the United States is no place to conduct their business,” US Attorney Loretta Lynch said in a statement on Friday.

Dhillon Andrew Kannabhiran, founder and chief executive officer of hackers community Hack in The Box, said the stiff 10-year sentence was meant to deter hackers from hacking into government networks.

“Details of the case are not clear to me, but you can argue that 10 years for computer crime is harsh by any standards,” Dhillon told The Star.

“It’s definitely a sentence which is meant to send a message.” Dhillon said the hacker was “asking for trouble” “Hacking is a tool. Just like a knife can be used by a chef to prepare a meal or to stab someone. It is your motives that sets you apart. People who use their skills to commit financial fraud are not hackers, but just criminals,” he said.

Lin, according to a fellow hacker, deserved his punishment.

“Most hackers have the skills to breach a computer security system. But once you use your skills for malice, then you have committed a crime,” said a computer security consultant who wished to be identified as Sam. “If you are caught, you deserve to be punished like any other criminal.”

Sam said most people with hacking expertise, like himself, were hired by companies to “test” their computer security system. “Most of us use our skills to make a decent, legitimate living.”