The Russian central bank’s Financial Sector Computer Emergency Response Team (FinCERT) revealed on Friday that hackers got access to a computer at a Russian bank and transferred an amount of 339.5 million roubles about $6 million through the SWIFT system. No further details about the cyber robbery have been public, and there are no news associated the cybercrime that which bank has been hit, or when. They have just disclosed the stolen amount, it is not the Russian state bank Globex, which was likewise hit last year in December 2017.

On Sunday, an Indian bank had also pronounced that cyberpunks had got access to its bank’s systems and hacked fraudulent transferred about $2 million from the bank through SWIFT systems. The settlement of dispute was exposed on February 7, 2018. The theft took place during the bank’s reconciliation process, and the system must have happened shortly before that.

“We immediately alerted the Correspondent banks to recall the funds,” the City Union Bank’s statement explained.

One that taught the Standard Chartered Bank of the fraudulent transactions, the first attempt was done while New York to send $500,000 to an account with a Dubai-based bank was “blocked immediately.” The second attempt was routed while transferring of 300,000 euros was done through a Standard Chartered Bank account in Frankfurt to a Turkish bank. Unfortunately, the transfer was blocked and hacked by the latter before the cyber criminals had an opportunity to accumulate the money. The third transfer was of $1 million which was made through the Bank of America, New York to a Chinese bank, and the money transfer were hacked by the cybercriminals, who “submitted forged documentary evidence.”

According to a report, City Union Bank is functioning on repatriating the transferred money. Meanwhile, its “SWIFT payment system is back to normal after ensuring adequate enhanced security in place.” About hundred financial institutions in India, containing the country’s central bank, practice SWIFT to send and collect facts about financial transactions.

SWIFT security

The Belgium-based financial telecommunication company has been enforcing banks to increase their security since the $80 million theft that battered back in in 2016, the Bangladesh’s central bank and, soon after, a threat against a commercial bank in Vietnam. In both circumstances, the cyber criminals used modified malware to get access the banks’ endpoints but not SWIFT’s network, interface software or core messaging services.

Initially last year, attacks at three government-owned banks in India that contained fake trade documents sent via SWIFT were obstructed. SWIFT announced the Customer Security Controls Framework in April 2017, a set of compulsory and suggested security controls for SWIFT customers expected at creating a security starting point for the complete community.

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