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More Banks Reached Out to Investigators for Possible Network Breaches

Investigators are examining possible computer breaches at as many as 12 banks linked to Swift's global payments network that have irregularities similar to those in the theft of US$81 million from the Bangladesh Central Bank. FireEye, the security firm called in by Bangladesh's central bank in the wake of the hack, has been contacted by the banks over signs that they have experienced similar issues, although there is no indication that any money has been stolen. The banks are mostly in Southeast Asia, including the Philippines. None are in Western Europe or the U.S. There is no indication of whether money was taken.

The expansion of the investigation four months after the discovery of the Bangladesh attack, the biggest known cyber-heist in history, suggests a broad and serious campaign to breach the international financial system. Earlier this week Swift’s Chief, Gottfried Leibbrandt, warned that the Bangladesh fraud is not an isolated incident. The Brussels-based interbank cooperative, has also warned that there may have been more breaches than the three already publicly identified, including those in Vietnam and Ecuador. Swift has come under increasing pressure from its bank customers to ratchet up its security measures in order to prevent future cyber robberies.

News Characteristics

Date : May 27, 2016
Region : North America
Industry : Banks
Function : Risk Management
Sub-Function : Cyber Risk