Malware to Blame for $80M Bank Heist

NicoleMotta on Monday March 14, 2016 at 02:13:11 PM

Malware to Blame for $80M Bank Heist

According to new reports, malware is suspected in the recent Bangladesh bank heist.

Cybercriminals were able to steal $80 million from the Federal Reserve's Bangladesh account and now investigators say that they were able to do so with malware. According to Reuters, citing two bank officials briefed on the matter, investigators believe that the unknown hackers installed malware into the Bangladesh central bank's computer systems and potentially watched for weeks to plan their next move. The hackers had attempted to steal nearly $1 billion from Bangladesh Bank's account at the Federal Reserve Bank of New York and managed to get away with more than $80 million before the breach was discovered.

The hackers are believed to have stolen the credentials for the SWIFT messaging system, a secure financial communication channel used globally. In a statement, SWIFT said, "SWIFT and the Central Bank of Bangladesh are working together to resolve an internal operational issue at the central bank. SWIFT's core messaging services were not impacted by the issue and continued to work as normal." FireEye's Mandiant forensics division is working with investigators to figure out how the hackers got in. "The next piece of the puzzle that will likely emerge is a sample of the malware and/or if a true zero-day vulnerability was used," said Jeff Wichman, a consultant with cyber security firm Optiv in a statement to Fortune. The Bangladesh Bank officials acknowledged faults in their system and say that it could take more than two years to repair the problems. The stolen money is believed to have ended up in the Philippines and Hong Kong.

Photo: © iStock.


Add comment

Comments

Add comment