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Bangladesh Bank Attackers Hack SWIFT

(PC-google images) British defence contractor BAE Systems has claimed that bank hackers in Bangladesh targeted a software from SWIFT, a key...



(PC-google images)

British defence contractor BAE Systems has claimed that bank hackers in Bangladesh targeted a software from SWIFT, a key part of the global financial system.

SWIFT or Society for Worldwide Interbank Financial Telecommunication, is an organization owned by 3,000 financial companies is a global financial network that banks use to transfer billions of dollars every day. 

Swift spokeswoman Natasha Deteran said that it has released a software update to thwart the malware, along with a special warning for financial institutions to inspect their security procedures.
The group said its network and core messaging services were not affected.

“Swift is aware of a number of recent cyber incidents in which malicious insiders or external attackers have managed to submit Swift messages from financial institutions’ back offices, PCs or workstations connected to their local interface to the Swift network,” the group warned customers.

BAE published its findings in a blog post on malware that thieves used to cover their tracks and delay discovery of the heist. 

The blog said that, "This malware appears to be just part of a wider attack toolkit and would have been used to cover the attackers' tracks as they sent forged payment instructions to make the transfers."

BAE said it could not explain how the fraudulent orders were created and pushed through the system.
The cyber criminals tried to make fraudulent transfers totaling $951 million from the Bangladesh central bank's account at the Federal Reserve Bank of New York in February.

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