SWIFT (society for Worldwide Interbank Financial Telecommunications)
Cyberhackers used malware to target a PDF reader at an unnamed bank, allowing them to transfer money and tamper with bank documents, global bank transfer co-operative SWIFT says.
The Belgium-based Society for Worldwide Interbank Financial Telecommunication — a co-operative of more than 11,000 global banks that allows them to securely transfer billions of dollars worth of transactions between themselves every year — said one of its members was compromised by cybercriminals in a manner similar to the recent theft of more than $100 million from Bangladesh's central bank.
WIFT said Friday that attackers had malware to target a PDF reader at
a bank, which it did not name, allowing them to transfer money and
tamper with bank documents.
SWIFT declined to confirm whether any funds had been taken out, but urged its clients to review their security systems.
The group described the hack as "not a single occurrence, but part of a wider and highly adaptive campaign targeting banks."
Essentially, SWIFT says that hackers managed to steal enough information from a member bank that allowed them to transfer funds via SWIFT's network because the transaction would have looked legitimate and had the right credentials.
Swift said "the attackers clearly exhibit a deep and sophisticated knowledge of specific operational controls within the targeted banks."
It said that know-how "may have been gained from malicious insiders or cyberattacks, or a combination of both."
Cyberhackers used malware to target a PDF reader at an unnamed bank, allowing them to transfer money and tamper with bank documents, global bank transfer co-operative SWIFT says.
The Belgium-based Society for Worldwide Interbank Financial Telecommunication — a co-operative of more than 11,000 global banks that allows them to securely transfer billions of dollars worth of transactions between themselves every year — said one of its members was compromised by cybercriminals in a manner similar to the recent theft of more than $100 million from Bangladesh's central bank.
SWIFT declined to confirm whether any funds had been taken out, but urged its clients to review their security systems.
The group described the hack as "not a single occurrence, but part of a wider and highly adaptive campaign targeting banks."
Essentially, SWIFT says that hackers managed to steal enough information from a member bank that allowed them to transfer funds via SWIFT's network because the transaction would have looked legitimate and had the right credentials.
Swift said "the attackers clearly exhibit a deep and sophisticated knowledge of specific operational controls within the targeted banks."
It said that know-how "may have been gained from malicious insiders or cyberattacks, or a combination of both."
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