Foiled Vietnam attack likely a test run for Bangladesh heist
Hackers focusing on banks that might be using outdated versions of Swift or third-party vendor software
Hanoi
A FOILED hacking attack on a small Vietnamese bank may have been a practice run for a US$81 million cyber assault on Bangladesh's account at the Federal Reserve Bank of New York, and points to vulnerabilities in how banks connect to the Swift interbank messaging system.
Vietnam's Tien Phong Commercial Joint Stock Bank, known as TPBank, informed the country's regulators on Monday that it had fended off a fraudulent transfer request late last year for more than one million euros (S$1.55 million). The request came through a third-party service that the bank used to connect to the Swift interbank messaging system, the Hanoi-based lender told the central State Bank of Vietnam. The regulator said it's investigating, though the incident didn't result in any losses.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Crypto firm sues SEC to fend off oversight of Ethereum
Great Eastern chairman appeals for patience as shareholders fume over share price ‘disaster’
S&P Global first-quarter profit beats estimates on strong product demand
Thai banks cut rate for some borrowers after push from PM
Money laundering accused who faces 22 charges to plead guilty on May 14
BNP Paribas beats estimates as lower costs offset trading slump