Hacked: Hacking Finance

Hacked: Hacking Finance


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Banks Still Losing Money through SWIFT Attacks

Posted on August 31st, 2016.

It has been half a year since the now infamous bank heist that saw the Bangladesh Central Bank lose over $80 million from its New York Federal Reserve account. Hackers were able to exploit the bank’s lax security framework with SWIFT transfers, at the time. Things haven’t changed much, SWIFT privately disclosed to its client banks....

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Breaches

Is Swift Bank Network Losing War Against Cyber Attacks?

Posted on May 22nd, 2016.

Swift, a global money transfer network used by banks, has suffered gaps in security standards that have resulted in at least three breaches – in Vietnam, Bangladesh and Ecuador, according to The Wall Street Journal. The hackers were able to gain access to Swift access codes and deliver authenticated yet fraudulent fund transfer requests....

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Breaches

SWIFT Breached Again; Second Bank Sees Cyber Heist

Posted on May 13th, 2016.

SWIFT, the financial inter-banking system used by thousands of banks around the world has revealed that cyber-thieves have yet again stolen from a bank that is a part of the SWIFT network. An undisclosed bank is the second known target of cybercriminals who are likely to have also been involved in the infamous Bangladesh bank heist which...

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Cybersecurity

SWIFT Refuses to Take Blame for $81 Million Cyber Heist

Posted on May 10th, 2016.

 Inter-banking system SWIFT has released a statement that firmly denies any responsibility in the $81 million cyber heist that saw the Bangladesh Central Bank lose its funds from its NY Federal Reserve account. The statement is in response to allegations from the Bangladesh Police Department that SWIFT is partly to blame for the cyber...

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Cybersecurity

Bangladesh Bank Hackers Exploited SWIFT Client Software with Malware

Posted on April 25th, 2016.

The yet-unknown hackers who made away with $81 million from the Bangladesh Central bank’s New York Federal Reserve account have, according to a new Reuters report, used malware to hack into the SWIFT financial platform’s client software used by banks and financial institutions around the world. The Society for Worldwide Interbank...