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Cyber-hacking Carbanak gang steals $1bn from banks worldwide

Cyber-hackers are thought to have stolen hundreds of millions of pounds from up to 100 banks and financial institutions across the world, including the UK.

The heist took place over the past two years and is believed to have been carried out by criminals from Russia, Ukraine, other parts of Europe and China.

Computer security firm Kaspersky Lab estimates that $1bn (£648m) was taken in the attack and the enterprise, called Carbanak, is still active.

The gang used malware to infect organisations' networks, enabling them to see and record everything happening on employees' screens.

The largest sums were grabbed by hacking into banks and stealing up to $10m per raid, it is estimated.

In other cases, Carbanak inflated account balances, pocketing the extra funds.

A number of UK financial organisations were attacked but data does not show whether the attempts succeeded, and not all financial institutions reported the incidents.

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