U.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...
Cybercriminals have developed sophisticated malware to launch "major and substantive" attacks on large U.K. financial institutions' back-end infrastructure, a national cyber threat assessment said Tuesday.
At least 12 financial institutions are investigating suspected compromises of the interbank messaging platforms they use to resolve institutional payments, according to a former federal cybercrime prosecutor.
Manhattan federal prosecutors on Tuesday disclosed criminal charges against the owner of an illegal Bitcoin exchange and other individuals believed responsible for the largest-ever theft of client data from a U.S. bank.