Chile to seek cybersecurity advice after hackers rob bank

[SANTIAGO] Chile's government and financial institutions will seek advice on cybersecurity practices from an unnamed international organisation after hackers robbed $10 million from the country's second-largest commercial bank, its finance minister said on Tuesday.

Banco de Chile suffered a cyber heist on May 24, with most of the funds ending up in Hong Kong, the bank's chief executive Eduardo Ebensperger said over the weekend. The hackers initially used a virus as a distraction, prompting the bank to shut 9,000 computers in branches across the country to protect customer accounts.

"We will review best practices in cybersecurity to prevent and respond to these attacks," finance minister Felipe Larrain said in a statement.

Authorities also called on Congress to pass a new bank regulation that would require more funds to cover operational risks, including those related to cybersecurity.

Reuters