Hackers steal $1 billion from banks

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CANCUN, Mexico – Kaspersky Lab says an international hacking ring has stolen as much as $1 billion from more than 100 banks in some 30 countries.

They say the hackers broke into bank systems and while lying dormant, collected all kinds of information about bank operations. Then, they transferred money to phony accounts and drew it out at ATMs. They utilized other methods as well and reportedly tended to limit their theft to about $10 million per bank.

Targeted countries include the U.S., Russia, Germany, China and Ukraine.

Some say this is the most sophisticated attack to date.