Cyber Security Institute

Thursday, September 01, 2005

Finns urge better Wi-Fi security after bank break-in

Finland has called on its citizens to take more care securing their Wi-Fi networks after it emerged this week that about â,¬200,000 (£135,623) had been stolen from a bank using an unprotected home network.  The Helsinki branch of global financing company GE Money called on police to investigate the theft in June.  Police now believe that the company’s 26-year-old head of data security in Helsinki stole banking software from the company along with passwords for its bank account.

Police now believe that the company’s 26-year-old head of data security in Helsinki stole banking software from the company along with passwords for its bank account.  Accomplices then accessed the account from a laptop computer using an unprotected network at a nearby apartment building in Helsinki’s Kallio district.  Suspicion initially fell on the owner of the Wi-Fi network until police searched his apartment and determined he was not involved.  They then deduced from the laptop’s MAC address that it belonged to GE Money, and fingers started to point toward the bank’s security officer.

“After a while there were too many leads pointing against him, and after we found the laptop, that was it,” said Jukkapekka Risu, investigating officer for the Helsinki police.

The case was picked up by television news programs in Finland and caused something of a buzz.  It also prompted the Finnish Communications Regulatory Authority to remind citizens this week about the dangers of not securing their wireless networks.  Wi-Fi is starting to become popular in Finland, particularly among home users.  The agency advised people to employ at least the standard WEP (Wired Equivalent Privacy) encryption.

http://www.pcadvisor.co.uk/index.cfm?go=news.view&news=4986