Updated with full video – see below.

Welcome to NewsDesk on SiliconANGLE TV for Friday July 26, 2013. Five Eastern European men have been charged with operating a global hacking operation that infiltrated some of the world’s biggest financial institutions. Joining us now to tell us more about this mega attack is SiliconANGLE Contributing Editor John Casaretto.

See live feed below or visit youtube.com/siliconangle to watch on-demand.

Five Eastern European men have been charged with operating a global hacking operation that infiltrated some of the world’s biggest financial institutions, pilfered data for more than 160 million credit cards, and created hundreds of millions of dollars in losses.

The case, brought by US attorneys in Manhattan and New Jersey, is the largest hacking scheme ever prosecuted in the US, Department of Justice officials said. From 2005 to 2012, the four Russian nationals and a Ukrainian penetrated the private networks of the Nasdaq stock exchange, Citibank, PNC Bank, Heartland Payment Systems, 7-Eleven, JCPenney, Hannaford Brothers, and others, prosecutors alleged in indictments unsealed Thursday morning. The hacking gang traded text strings that exploited SQL-injection vulnerabilities in the victim companies’ websites to obtain login credentials and other sensitive data, then installed malware that gave them persistent backdoor access to the networks.

On today’s episode of NewsDesk with Kristin Feledy, we’ll be speaking with our very own security expert John Casaretto about the hacks, as well as the implications of any future attacks on our financial system.

We’ll be asking John all the tough questions, like what the hackers were targeting and how they operated, and what society can do to stop it from happening again. That’s today on this morning’s NewsDesk with Kristin Feledy.

See the live broadcast, embedded below.  If you missed today’s topic, check our YouTube channel for archived clips.

photo credit: Stuck in Customs via photopin cc