1 min read

SWIFT Breaches under Investigation in Southeast Asia

Luana PASCU

May 27, 2016

SWIFT Breaches under Investigation in Southeast Asia

Potential SWIFT breaches are under investigation amid concerns that up to a dozen banks may have been hacked through fake SWIFT transfers, similar to the Bangladesh Central Bank earlier this year, Bloomberg reports.

After stealing $81 million from the Bangladesh Central Bank, hackers may have caused related breaches in Southeast Asia, including the Philippines and New Zealand.

SWIFT experts claim the malware was created to meddle with transaction software, compromise bank systems and steal credentials to send messages on the network.

“The malware is designed to hide the traces of fraudulent payments from customers” local database applications and can only be installed on users” local systems by attackers that have successfully identified and exploited weaknesses in their local security,” informed SWIFT.

The Bangladesh Central Bank hack might not have been an isolated incident, said SWIFT CEO Gottfried Leibbrandt in a speech this week. As SWIFT links 11,000 financial institutions sending 25 million messages daily, US and UK banks urge the organization to boost its security program to avoid future cyber-attacks and fraud. Certification requirements will be introduced for vendors to help detect unusual activity, Leibbrandt added.

Security firm FireEye has been contacted to take over the investigation, after their previous experience in the Bangladesh Central Bank SWIFT hack, which targeted the Federal Reserve Bank of New York. The firm hasn”t made any comments thus far, however their research report confirms macro malware is still effective. Various emails were sent “containing macro-enabled XLS files to employees working in the banking sector in the Middle East. The themes of the messages used in the attacks are related to IT Infrastructure such as a log of Server Status Report or a list of Cisco Iron Port Appliance details,” the company said.

tags


Author



Right now

Top posts

E-mails claiming your computer was hacked and your privacy exposed - what you need to know (spoiler: you can relax - they’re bluffing)

E-mails claiming your computer was hacked and your privacy exposed - what you need to know (spoiler: you can relax - they’re bluffing)

July 29, 2021

5 min read
Watch Out for These Ongoing Bank of America Phishing Campaigns Targeting Customers in the US

Watch Out for These Ongoing Bank of America Phishing Campaigns Targeting Customers in the US

July 16, 2021

3 min read
How to protect yourself against cyberstalking

How to protect yourself against cyberstalking

July 06, 2021

2 min read
The Top Five Security Risks Smartphone Users Face Today

The Top Five Security Risks Smartphone Users Face Today

July 02, 2021

4 min read
Phishing Alert: Scammers Use Fake SharePoint and DocuSign Messages to Steal Users’ Login Credentials

Phishing Alert: Scammers Use Fake SharePoint and DocuSign Messages to Steal Users’ Login Credentials

July 02, 2021

3 min read
Your Doxxing Dossier Will Keep Growing Thicker Until You See the Danger

Your Doxxing Dossier Will Keep Growing Thicker Until You See the Danger

June 30, 2021

2 min read

FOLLOW US ON

SOCIAL MEDIA


You might also like

Supply Chain Attack Detected in PyPI Library Supply Chain Attack Detected in PyPI Library
Silviu STAHIE

August 02, 2021

1 min read
Scam baiter Jim Browning bamboozled by scammers into deleting his own YouTube channel Scam baiter Jim Browning bamboozled by scammers into deleting his own YouTube channel
Filip TRUȚĂ

August 02, 2021

3 min read
Instagram influencer Hushpuppi admits his part in scams that stole more than $24 million Instagram influencer Hushpuppi admits his part in scams that stole more than $24 million
Graham CLULEY

July 30, 2021

2 min read