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Swift Hackers Take Off $10 Million from Ukrainian Bank

(pc-google images) A Ukrainian bank has now fallen prey to the widespread cyber attack on banking and financial sectors by hackers who have...



(pc-google images)

A Ukrainian bank has now fallen prey to the widespread cyber attack on banking and financial sectors by hackers who have reportedly stolen $10 million from it.

According to reports emerging from the region citing an independent IT monitoring organisation called the Information Systems Audit and Control Association (ISACA), hackers have exploited the Swift messaging system.

"At the current moment, dozens of banks (mostly in Ukraine and Russia) have been compromised, from which has been stolen hundreds of millions of dollars," a member of the ISACA reportedly said in a press release.

In February, cybercriminals accessed the central bank of Bangladesh and made 35 transfer requests totalling $951 million to its account with the New York Federal Reserve.
The chief executive of Swift, Gottfried Leibbrandt has warned that banks need to tighten security or risk suspension from the global collective – which has come under increasing strain since the hacks began.

Speaking to The Financial Times, he said: "We could say that if the immediate security around Swift is not in order we could cut you off, you shouldn't be on the network [...] the days when you needed to break into a bank and carry guns and blow torches are over. You can now rob a bank from just your own PC and that does change the game completely."


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