Second bank hit as cybercrooks again target money transfer system

A second bank has been raided by hackers who have again broken into the global financial messaging network that banks use to move billions of dollars every day. The breach was at a commercial bank but it was not immediately clear how much money, if any, was stolen. It is the second time in months that systems run by the Society for Worldwide Interbank Financial Telecommunication appear to have been targeted. In February, $81 million went missing from Bangladesh Bank in what is thought to be the world’s largest cyberheist.

The attackers clearly exhibit a deep and sophisticated knowledge of specific operation controls within the targeted banks

Swift statement

Swift, used by used by thousands of banks and companies to move money around the world, was thought to be among the most secure software in the world. But it was targeted in February’s attack, although the network described the Bangladesh raid as a customer fraud. Swift will reveal more details of the latest breach later today in a letter to its members. The incident is a sign of a wide-ranging attempt to gain access to the system, its letter says.

As a matter of urgency, we remind all customers again to urgently review controls in their payments environments