SWIFT-based cyber attacks spreading globally
Posted On: Jul. 8, 2016 12:00 AM CSTA Ukrainian bank has lost roughly $10 million in a cyber attack, reported Data Privacy + Security Insider.
The bank is the latest victim in a series of cyber attacks exploiting vulnerabilities in the global banking communications system. Hackers broke into the bank's internal network and submitted fraudulent money orders via the SWIFT messaging system. This attack follows a similar theft at Bangladesh's central bank in February. SWIFT-based threats to financial institutions may be on the rise with banks in Ecuador and Vietnam also reporting similar attacks.