#Bank of Montreal; #onlinebankSimpliiFinancial; #CIBC; #$1 millioninacryptocurrency
Ottawa, May 29 (Canadian-Media): There had been threats by the hackers to release personal information for nearly 100,000 customers of two Canadian banks unless the lenders pay a $1-million ransom for its safe return, media reports said.
Bank of Montreal and online bank Simplii Financial, owned by CIBC learnt over the weekend that the identifying personal information of a combined 90,000 different account holders at the two banks was stolen.
Bank of Montreal/Facebook
By exploiting weaknesses in the two banks' security systems, the thieves were reportedly able access information such as names, account numbers, passwords, security questions and answers, and even social insurance numbers and account balances.
"We warned BMO and Simplii that we would share their customers informations if they don't cooperate," a Russian-based email purportedly from the thieves said Monday evening.
The email also provided a brief explanation of how they say they hacked the accounts. The hackers claim they were able to gain partial access to accounts by using a common mathematical algorithm.
The email demanded a ransom of $1 million in a cryptocurrency known as Ripple be paid for the return of the data by yesterday at midnight, otherwise the information would be released.
But reportedly both the banks had not paid any ransom.
But the worrisome fact is that there are large gaps in the banking system.