Cyber Experts Predicted That A Major Bank Failure Will Happen Some Point This Year, Cyber Hackers Are Getting Powerful?

According to some cyber experts, a major bank failure will happen at some point this year. And if the attack could happen, it will leave thousands of accounts penniless.

Last year in November, cyber hackers attacked the Tesco Bank and they were able to steal  £2.5 million from more than 9,000 accounts. Despite the hacking event, all the affected accounts were refunded in the "systematic, sophisticated attack."

There is no doubt that cybersecurity will be the main theme of 2017, and all technology innovations could be damaged by fraud, cyber propaganda and data thefts. In addition, security experts predicted of a serious case scenario to happen this year.

Meanwhile, chairman of the National Cyber Management Center, Prof. Richard Benham gave a warning: "A major bank will fail as a result of a cyber-attack in 2017 leading to a loss of confidence and a run on that bank." As for today advanced technology and how it makes the world more connected, it will give hackers more chance to break into the system and cause more chaos.

Chief technology officer at Trend Micro, Raimund Genes, said:  "The internet of things (IoT) and industrial internet of things (IIoT) will play a larger role in targeted attacks in 2017." A firm predicts that this 2017, hackers will still continue renting a ransomware infrastructures that lets them break into the system, encrypt all date and afterward, hackers will ask for a ransom to decrypt it.

Hackers also have the capability of taking down certain website or factory control system in a DDoS or otherwise known as distributed denial of service attack. The means that it can flood a computer server with mass amounts of traffic unit it stops working.

Jason Hart, Technology officer of Gemalto said that hackers are also altering data with dire consequences. He also stated that data integrity attacks are very scary since it has the power to take down an entire company and beyond. 

It follows after a report by Daily Star Online stated that hackers vowed to "shut down" PlayStation and Xbox servers on Christmas. Prof Benham added that millions are invested in technology but nothing is being spent on awareness training.