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ExtraTorrent.cc > Articles > Global Financial Network Hacked, $80m Stolen

Global Financial Network Hacked, $80m Stolen

Global Financial Network Hacked, $80m Stolen

Added: Friday, April 29th, 2016
Category: Recent Headlines Involving File Sharing > Current Events
Tags:ET, p2p, Torrent, Piracy, Peer To Peer, Network, Hackers, Internet, BitTorrent, Google, utorrent, bitcomet, extratorrent, www.extratorrent.cc, 2016
The Society for Worldwide Interbank Financial Telecommunication (Swift), the international bank transfer system used to transfer billions of dollars on a daily basis, has recently warned its customers of “a number of cyber incidents” where intruders had sent fraudulent messages over Swift system. Swift is a cooperative owned by 3,000 financial institutions.
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This fact was disclosed as law enforcement authorities in Bangladesh investigated the cyber theft of more than $80 million from the Bangladesh central bank account at the New York Federal Reserve. The network has acknowledged that the funds were stolen through altering its software on Bangladesh Bank’s computers in order to conceal evidence of fraudulent transfers.

Apparently, the Bangladesh Bank hack was not an isolated incident. Security experts believe there were several criminal schemes that aimed to take advantage of Swift, which is used by some 11,000 financial institutions every day. The network learned about several recent incidents where either malicious insiders or external attackers submitted Swift messages from the banks’ back offices, personal computers or workstations connected to their local interface.

As a result, Swift issued a warning sent over its network. The system did not name any victims or disclose the value of any losses. Then the cooperative released a security update to the software used to access Swift network in order to disable malware that security researchers said might have been used by hackers in the Bangladesh Bank heist.

The evidence suggested that intruders manipulated Swift’s Alliance Access server software used by the financial institutions to interface with Swift’s messaging platform, in order to cover their tracks. So far, it remains unknown how the fraudulent orders were created and pushed through the Swift system. Apparently, hackers obtained valid credentials for operators authorized to create and approve Swift messages and submitted fraudulent messages by pretending to be them.

The suggestions are that more attacks could surface as banking clients find out if their access had been compromised. Security experts believe that hackers were choosing Swift and other private financial messaging platforms because they could steal more money.

Posted by: 
SaM

Date:  Friday, April 29th, 2016



Comments (7) (please add your comment »)

1
posted by ET junkie (2016-04-29 18:02:08)
No avatarinside job.

2
posted by (2016-04-30 23:02:43)
Admiral_Smith avatarI don't think so. I guess from what swift does is it does wire transfers. I thought about it and I guess there is a way to set up a make believe loan from the wire transfer and that is how 80 mil went missing. It is probably set up the same way as the feds or dea confiscate money on wire transfer. It may even say FBI on it.

3
posted by Turtle (2016-04-30 23:14:07)
PirateShovon avatarI'm from Bangladesh, and yes I believe it's an inside job. Otherwise, it's not that easy.

4
posted by (2016-05-01 03:50:58)
ayubnicer avatari think inside job because of bangladeshi crimi--l mind. they can did any thing for money.

5
posted by (2016-05-01 15:25:24)
No avatarThese guys are stealing from the thieves who steal the money from hard working normal people with huge interest rates, fees etc, so in a way I hope they never get caught. Besides which all this money would be insured, so even if they never get it back the banks will have made a profit.

6
posted by (2016-05-01 16:29:13)
No avatarinside job

7
posted by (2016-05-03 10:18:09)
No avatarConsidering the "Money" these assholes use is an illusion, who F*cking cares....



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