SWIFT discloses more cyber attacks on its bank members and urges more security

Minimalist · Sep 1, 2016

SWIFT discloses more attacks against banks worldwide, pressures banks on security and urged member banks to implement the new SWIFT software by November 19.
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http://securityaffairs.co/wordpress/50854/security/swift-discloses-attacks.html

Minimalist · Sep 20, 2016

SWIFT hopes to thwart fraudsters with detection system in wake of bank heist

Finance messaging giant SWIFT plans new measures to help banks combat fraud after a gang broke into Bangladesh's central bank in February and stole £57 million pounds—and were only caught because one of them made a typo in a £15 million transfer.
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http://arstechnica.com/security/2016/09/swift-fraudsters-detection-system-bangladesh-bank-heist/

Minimalist · Sep 27, 2016

Illusive Networks seeks to slow Swift attackers through deception

By scattering decoys across a bank's systems, Illusive Networks hopes to detect attackers before they can steal millions.
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http://www.cio.com/article/3123700/...o-slow-swift-attackers-through-deception.html

ronjor · Oct 11, 2016

Symantec Warns Of Second Group Targeting SWIFT Network

Jai Vijayan 10/11/2016

Those behind the Odinaff Trojan are using tools and infrastructure associated with the infamous Carbanak cybercrime group, security vendor says
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hawki · Dec 12, 2016

"SWIFT confirms new cyber thefts, hacking tactics

Cyber attacks targeting the global bank transfer system have succeeded in stealing funds since February’s heist of $81 million from the Bangladesh central bank as hackers have become more sophisticated in their tactics, according to a SWIFT official and a previously undisclosed letter the organization sent to banks worldwide.

The messaging network in a Nov. 2 letter seen by Reuters warned banks of the escalating threat to their systems, according to the SWIFT letter. The attacks and new hacking tactics underscore the continuing vulnerability of the SWIFT messaging network, which handles trillions of dollars in fund transfers daily.

'The threat is very persistent, adaptive and sophisticated – and it is here to stay,' SWIFT said in the November letter to client banks, seen by Reuters..."

http://www.reuters.com/article/us-usa-cyber-swift-exclusive-idUSKBN1412NT

WildByDesign · Dec 12, 2016

Root Access Podcast - Ep.6: Communication Err0r

This episode is about the little things, the details, the small mistakes that trip up hackers and get them caught. Josh and the team examine the recent SWIFT banking hack and the ways hackers beat themselves instead of the system. Guests include machine learning experts and a security research team leader.
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Link: https://rootaccesspodcast.com/#ep-6-communication-err0r

Minimalist · Dec 17, 2016

Turkey's Akbank faces US$4 million hit from attempted cyber heist

Hackers targeted Turkey's Akbank via the SWIFT global money transfer system in an attack which the bank said had not compromised customer data but would cost it up to US$4 million.
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http://www.channelnewsasia.com/news...kers-faces-up-to-us-4-mln-liabil/3373272.html

Minimalist · Dec 29, 2016

Bangladesh police detail suspicions of inside help in central bank heist

A top investigator into the electronic theft of $81 million from the Bangladesh central bank is turning his attention to some IT technicians from the bank whom he suspects hooked up its transactions system to the public Internet, giving hackers access.
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http://www.thestar.com.my/news/worl...picions-of-inside-help-in-central-bank-heist/

Minimalist · Jan 16, 2017

SWIFT systems of three Indian banks compromised to create fake trade documents

Attackers usually use banks’ compromised SWIFT system to send information about fraudulent financial transactions, but in attacks aimed at three government-owned banks in India, they chose to create fake trade documents such as letters of credit and guarantees.
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https://www.helpnetsecurity.com/2017/01/16/swift-systems-indian-banks-compromised/

Minimalist · Mar 24, 2017

US blames North Korea for the $81 million Bangladesh cyber heist

US federal prosecutors speculate the involvement of North Korea in the cyber heist of $81 million from Bangladesh’s account at the New York Federal Reserve Bank.
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http://securityaffairs.co/wordpress/57396/cyber-crime/bangladesh-cyber-heist.html

Minimalist · Apr 13, 2017

SWIFT on security: Fresh anti-bank-fraud defenses now live

Inter-bank data comms biz SWIFT says it has introduced mechanisms to better protect money transfers from tampering.

We're told the fresh defenses will make it easier for banks to track movements of money. The payment controls are part of SWIFT's Customer Security Programme, a set of mandatory IT and physical security protections that member banks must put in place in order to use SWIFT.
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https://www.theregister.co.uk/2017/04/13/swift_antifraud_payments_service/

Minimalist · Oct 11, 2017

Hackers nick $60m from Taiwanese bank in tailored SWIFT attack

Hackers managed to pinch $60m from the Far Eastern International Bank in Taiwan by infiltrating its computers last week. Now, most of the money has been recovered, and two arrests have been made in connection with the cyber-heist.

On Friday, the bank admitted malware managed to get into PCs and servers within its organization, and, crucially, onto its SWIFT terminal used for transferring funds between financial institutions across the world.
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https://www.theregister.co.uk/2017/10/11/hackers_swift_taiwan/

Minimalist · Oct 14, 2017

SWIFT says hackers still targeting bank messaging system

Hackers continue to target the SWIFT bank messaging system, though security controls instituted after last year's $81 million heist at Bangladesh's central bank have helped thwart many of those attempts, a senior SWIFT official told Reuters.

"Attempts continue," said Stephen Gilderdale, head of SWIFT's Customer Security Program, in a phone interview. "That is what we expected. We didn't expect the adversaries to suddenly disappear."

SWIFT spokeswoman Natasha de Teran told Reuters that the attackers had attempted to hack into computers that banks use to access the organization's proprietary network, then create fraudulent messages to send over the SWIFT system.

“We have no indication that our network and core messaging services have been compromised,” she said.
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http://www.businessinsurance.com/ar...geting-bank-messaging-system-Bangladesh-heist

Minimalist · Dec 11, 2017

SWIFT And The New Regulatory Environment Of 2018

From January 1 2018, financial institutions that use SWIFT, the global banking messaging platform, will have to comply with a new cybersecurity framework that aims to establish a baseline for security. Many will remember the large scale heist that happened last year that saw Bangladesh Bank lose $81 million and the backlash from that particular occasion, among others, has resulted in the creation of this new regulatory framework.

The SWIFT Customer Security Controls Framework will require the implementation of security controls such as incident response, security awareness training, multi-factor authentication and anomalous behavior detection. With the addition of these 16 mandatory controls and 11 that are advisory, and with so many banks using the SWIFT network (11,000 across 200+ countries), a change of this scale is significant and could change the rate at which financial institutions are being attacked. However, as those of you in the industry very well know, despite the speed at which banks can transform technology, hackers are always one step ahead.
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https://www.forbes.com/sites/madhvimavadiya/2017/12/11/swift-new-regulation-2018

Minimalist · Feb 17, 2018

Unknown hackers stole $6 million from a Russian bank via SWIFT system last year

The news of the attack against the international payments messaging system was reported on Friday by the Russian central bank, this is the last incident of a long string of cyber heists.

“The volume of unsanctioned operations as a result of this attack amounted to 339.5 million roubles,” states the Russian central bank.

“The central bank said it had been sent information about “one successful attack on the work place of a SWIFT system operator.” reported the Reuters agency.

According to a spokesman for the central bank, hackers took control of a computer at a Russian bank and transferred the money to an account they controlled through the payment messaging system.
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http://securityaffairs.co/wordpress/69159/cyber-crime/russian-bank-swift-hack.html

Minimalist · Apr 1, 2018

Philippine banks on alert after cyber attack at Malaysia central bank

The Philippine central bank has sounded an alert to local financial institutions following a cyber attack at the Malaysian central bank, in which hackers sought to steal money using fraudulent wire transfers, its governor said on Saturday.
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https://www.reuters.com/article/us-...attack-at-malaysia-central-bank-idUSKBN1H70GV

Minimalist · May 3, 2018

ECB designs cyber attack simulation for financial firms

The European Central Bank has designed a new test simulating cyber attacks on banks, stock exchanges and other firms that are critical for the functioning of the financial system, it said on Wednesday.
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https://www.reuters.com/article/us-...-simulation-for-financial-firms-idUSKBN1I31H5

hawki · May 7, 2018

"The Billion Dollar Bank Job

In 2016, a mysterious syndicate tried to steal $951 million from Bangladesh’s central bank - and laid bare a profound weakness in the system by which money moves around the world...

[It was a dark and stormy night but ] At 8:45 in the morning on Friday, Feb. 5, 2016, Zubair Bin Huda, a director at Bangladesh’s central bank, entered the 30-story, concrete-and-glass headquarters in Dhaka. Bin Huda, slim and soft-spoken, with a thin black mustache and beard, rode an elevator to the ninth floor and eventually walked into the back office of the Accounts and Budgeting Department’s “dealing room,” the most restricted area of the building, accessible to only a handful of employees....

Bin Huda was the duty manager that morning, which meant he was tasked with scrutinizing printouts of transfer confirmations, routine queries and other Swift messages that had come in overnight....

Although no one knew this yet, Bin Huda was in the middle of the most daring bank robbery ever attempted using Swift. And it would prove to be the most severe breach yet of a system designed to be unbreachable..."

https://www.nytimes.com/interactive...on=top-stories-below&WT.nav=top-stories-below

Long read.

Minimalist · May 7, 2018

Yes, long but good read

Minimalist · Jun 11, 2018

Hackers target payment transfer system at Chile's biggest bank

Banco de Chile has become the latest victim in a string of cyber attacks targeting the payment transfer systems of banks.

The country's largest bank was hit on 24 May and thousands of workstations hobbled. The ransomware attack was well documented locally and the bank has apologised for disruptions, which ran into days.

At the weekend, Banco de Chile's CEO, Eduardo Ebensperger Orrego, reportedly told Chilean business paper El Pulso (in Spanish) that the attackers had stolen "$10m" from the bank and that his organisation had disabled 9,000 workstations to stop the virus's spread before spotting "unusual transactions" on the bank’s local SWIFT network. He reportedly told El Pulso that no customers had been affected.
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https://www.theregister.co.uk/2018/06/11/chile_bank_wiper_prelude_cyberheaist/

Minimalist · Jun 14, 2018

Chile to revolutionize cybersecurity after the recent cyberattack

The country’s financial authorities met to establish a new cybersecurity plan following attack on the Bank of Chile
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https://www.welivesecurity.com/2018/06/14/chile-revolutionize-cybersecurity-cyberattack/

Minimalist · Jun 23, 2018

According to the experts, North Korea is behind the SWIFT attacks in Latin America

According to three people with knowledge of the matter cited by Cyberscoop the attacks were carried by North Korea-linked APT groups that targeted also other banks

Recent attacks hit Mexico’s Bancomext and Chile’s Bank of Chile, in both cases the attackers used a variant of the dreaded disk wiper KilllDisk to infect the systems of the banks and steal funds through the SWIFT payment system.
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https://securityaffairs.co/wordpress/73822/apt/swift-hackers-latin-america.html

Circuit · Feb 3, 2019

So easy to do now, no digging tunnels or actually being present.
What technology has done is really nothing, just made it easier for the bad guy/girl.

guest · Apr 10, 2019

Hackers Go For Smaller Amounts Three Years After $100 Million Heist
April 10, 2019
https://www.bloomberg.com/news/arti...rs-after-100-million-heist?srnd=cybersecurity

Three years after hackers managed to siphon off more than $100 million from the Bangladeshi central bank’s account in the U.S. Federal Reserve, cyber-criminals are going smaller.

In 2018, attempted fraudulent transactions ranged from $250,000 and $2 million, down from tens of millions of dollars in the previous two years, interbank messaging system Swift said in a report Wednesday. Almost all fraudulent transactions -- 83 percent -- were sent to banks in the Asia-Pacific region, while the targeted lenders were mostly located in countries rated highly corrupt by international regulators, Swift said.

“The higher the value of the instruction, the higher the risk of triggering fraud-detection systems,” Swift said in the study. “Since the cyber-incident in Bangladesh, the amounts sent in individual fraudulent transactions has evolved, making them harder to detect.”
Swift, which has more than 11,000 members globally, introduced a set of cybersecurity measures after the electronic heists of 2016 with targets that included the central bank of Bangladesh. It’s also provided new services that member banks can use to catch anomalies in their wire-transfer orders.
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guest · Apr 10, 2019

mood said: ↑

Hackers Go For Smaller Amounts Three Years After $100 Million Heist
April 10, 2019
https://www.bloomberg.com/news/arti...rs-after-100-million-heist?srnd=cybersecurity
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Swift says cyber threats evolving
April 10, 2019
https://www.finextra.com/newsarticle/33666/swift-says-cyber-threats-evolving

The report ‘Three years on from Bangladesh: tackling the adversaries’, provides new insights into the evolving nature of the cyber threats facing the global financial community. [...]
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SWIFT ISAC Report: "Three years on from Bangladesh - Tackling the adversaries"
(PDF - 72.5 KB): https://www.finextra.com/finextra-downloads/newsdocs/swift_cyber_report_2019.pdf

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