GHANAIAN BANKS WARNED OF CYBERCRIME RISK RESULTING FROM FAKE CROWDSTRIKE UPDATE

The Africa Centre for Digital Transformation (ACDT) has issued a warning to banks in Ghana about potential cybercrime threats following a global software failure.

The incident, which occurred on July 19, 2024, involved a defective update from cyber-security firm CrowdStrike, affecting millions of Microsoft Windows devices worldwide.

The software glitch, which lasted for 78 minutes, disrupted various sectors including banking, aviation, and healthcare. Microsoft confirmed that the faulty update impacted 8.5 million Windows devices, leading to widespread system failures. Despite CrowdStrike’s rapid response to rectify the issue, the damage was extensive, causing numerous flight cancellations and operational disruptions at banks.

In light of these events, the ACDT in a statement issued today cautioned financial institutions in Ghana about a fake CrowdStrike update being promoted through a phishing site (portalintranetgrupobbva[.]com).

This fraudulent update installs the Remcos Remote Access Trojan (RAT), posing significant security risks. The phishing site masquerades as a BBVA intranet portal, misleading banks into downloading malicious software that can compromise their systems.

Additionally, the ACDT’s Cyber Security unit has identified a new group of cyber attackers distributing data-wiping malware under the guise of a CrowdStrike update. This malware overwrites files with zero bytes, rendering systems inoperable and reporting the damage back to the attackers.