Monday, September 19, 2016

'AFRICard' - Banking Consumer Fraud & Hacking
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

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.