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In Stark Warning, US Officials Say Cyberattacks Could Augur Global Bank Disruptions
By Colby Adams
printU.S. officials recently warned financial institutions that unprecedented cyberattacks on a global interbank messaging platform could be repeated on a grand scale, leading to billions of dollars of losses and choking off global payments, ACAMS moneylaundering.com has learned. In February, a team of unidentified hackers used malicious software to gain access to Bangladesh Bank's portal with the Society for Worldwide Interbank Financial Telecommunication, or Swift, and attempted to initiate $951 million of unauthorized funds transfers from the institution's account with the Federal Reserve Bank of New York. Federal officials believe that the attack, which led to the theft of $81...
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