Aug 30, 2017

Briton extradited from Germany to face bank hacking charges

The alleged perpetrator of a cyber attack that hit two of Britain's largest banks earlier this year has been extradited from Germany to face charges. Cyber crime is on the rise, with attackers developing increasingly sophisticated hacking methods to break through banks' defences. Although banks are frequently targeted by denial of service attacks about once a month - sometimes all at once by the same perpetrator - the Lloyds incident was particularly heavy, a banker close to the situation said at the time. The attack came only months after a high-profile cyber attack on Tesco Bank, which forced the lender to repay £2.5m to 9,000 customers who had their money stolen. Royal Bank of Scotland suffered a cyber attack on its online services in July 2015.

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