Kaspersky marks the digital money movement in APAC - Cyber Security Weekend

Electronic payments, one of the key pillars of the digital economy, has helped enhance the economic and social well-being of billions of people globally, especially during this pandemic time. 

Closer to home, the Asia Pacific (APAC) region is the largest contributor to global payments revenue, with analysts expecting the sector to exceed USD $1 trillion revenue by 2022 or 2023.

With the rapid proliferation and adoption of digital payments here, industry players in this dynamic ecosystem are clearly playing a high stakes game, expanding aggressively into multiple markets with creative marketing solutions in the hope that every single click would represent a small but significant step towards market domination.

To better understand the pulse of digital payment adopters from the region and this trend’s security implications, Kaspersky today (October 18, 2021) holds a virtual media conference themed “Marking the money movement in APAC”.

The global cybersecurity company aims to explore the rising e-money adoption and to deep dive into the cyber-threats that come with it through top-line presentations from Kaspersky’s elite researchers and an industry expert.

Vitaly Kamluk, Director of Global Research & Analysis Team (GReAT) for APAC at Kaspersky (software), takes the audience back to the infamous Bangladesh Bank Heist attributed to an APT group named BlueNoroff

“Even years after the Bangladesh Bank Heist incident, SWIFT, commercial banks and the rest of financial industry were carefully tracking BlueNoroff compromises and money theft of less protected banks around the globe. 

Due to a lot of attention over long time, BlueNoroff became less and less successful in their operations, which also required a lot of additional efforts for money laundering and covering their traces. 

This is when they started turning their heads to cryptocurrency, which price has also skyrocketed,” says Kamluk.