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Wapack
Labs’ African subject matter expert (SME), presented research findings on
African consumer fraud with the use of the popular ‘Africard,’ credit and debit
cards. The Nigerian owned United Bank of
Africa (UBA) is being civilly sued in West Africa for allegedly using hacked
consumer identifying information from a past cyber-attack on subsidiary, International
Bank of Burkina. The use of the
illegally obtained information “may” be centered around local networks of
resellers, who are supported by financial services, to reach consumers, or with
UBA banking agents. It is alleged
that this information is being used to prey on common inter-country African
family transfer of West African Franc money via the ‘Africard’ credit/debit
cards in Western European countries.
Many of these former French colonies could affect fraud in Western
Europe and possible ties to the U.S. banking market. Wapack Labs will continue to monitor. This information is
being supplied for your situational awareness.
Publication
date: 16
September 2016
Handling
requirements: Traffic
light protocol (TLP) GREEN
Attribution/Threat
Actors: United Bank of Africa, Bank of Burkina
- Nigeria
Actor Type: Tier II
Potential Targets: West Africa / Financial Services
Past Reporting: DOC-3116, DOC-3709
The full attribution report has been published in its entirety in the Red Sky Alliance portal. For more information please contact the lab directly at 844-4-WAPACK, 603-606-1246, or feedback@wapacklabs.com.
About Wapack Labs
Wapack Labs, located in New Boston, NH is a Cyber Threat Analysis and Intelligence organization supporting the Red Sky Alliance, the FS-ISAC and individual organizations by offering expert level targeted intelligence analysis answering some of the hardest questions in Cyber. Wapack Labs’ engineers, researchers and analysts use deep analysis techniques and visualization to design and deliver transformational cyber-security analysis tools that fuse open source and proprietary information. The intelligence derived from these tools and techniques serve as the foundation of Wapack Labs’ information reporting to the cyber-security teams of its customers and industry partners located around the world.
