Cy­ber-at­tack at­tempt on Bank Ne­gara Malaysia

Banking Frontiers - - News | Regulator -

Bank Ne­gara Malaysia said it had de­tected and foiled a cy­ber­se­cu­rity breach in­volv­ing at­tempted unau­tho­rized fund trans­fers us­ing fal­si­fied SWIFT mes­sages. The bank said there were no fi­nan­cial loss be­cause of the in­ci­dent and there was no dis­rup­tion in pay­ment and set­tle­ment sys­tem. It said all unau­tho­rized trans­ac­tions were stopped through prompt ac­tion in strong col­lab­o­ra­tion with SWIFT, other cen­tral banks and fi­nan­cial in­sti­tu­tions. It ex­plained that fraud­u­lent mes­sages were sent to trans­fer funds on the SWIFT trans­ac­tions plat­form. This is the se­cond known at­tack of a cen­tral bank af­ter the 2016 theft of US$81 mil­lion (S$106.2 mil­lion) from Bangladesh Bank.

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