Bank security in danger as hackers attack accounts

In mid-May 2016, TP Bank said that it refused a request on the transaction of remitting over 1 million euros, or $1.13 million.

The request came from a third-party service the bank used to connect to Swift.

TP Bank, suspecting fraud, decided to check with involved parties and stopped the payment order after discovering the problem.

Prior to that, in February 2016, the Bangladeshi central bank said hackers stole $81 million through malicious software.

Swift is a global payment service provider, whose technology is used by more than 11,000 banks to carry out money transfers and financial tasks.  Hackers then attacked its system and sent fraudulent transfer requests to the Bangladeshi central bank in an attempt to steal $951 million. The hackers had $81 million when they were discovered.

On May 26, 2016, Symantec stated it discovered the evidence of hackers getting involved in the attacks on a bank in the Philippines in October 2015, on TP Bank and on the Bangladeshi central bank.

The security experts from Symantec said hackers attacked the banks using old versions of Swift, or installed malware on software products used by third parties that banks use to connect to Swift. For the full article click here 

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