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Cyber attack on Indian bank similar to Bangladesh central bank theft

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A cyber attack on Union Bank of India in July 2016 was similar in pattern and technique to the cyber theft of more than $81 million from the Bangladesh central bank's account at the New Year Federal Reserve in February 2016, News Nation reported citing the Wall Street Journal. The UBI cyber attack made use of malware that allowed hackers to steal the bank's access codes for the Society for Worldwide Interbank Financial Telecommunication payments system to send transfer instructions for about $170 million to a UBI account at U.S.-based financial services provider Citigroup Inc.

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