Swift Bank Hack

A new SWIFT heist! Hackers have reportedly stolen $10m from a bank in Ukraine by exploiting the Swift messaging system, according to reports emerging from the region citing an independent IT monitoring organization called the Information Systems Audit and Control Association (ISACA). The Kyiv Post has reported the ISACA branch in Ukraine disclosed that cybercriminals were able to compromise the bank’s security in similar fashion to the incident at the Bangladesh central bank in which $81m.

The article went on to state that at the current moment, dozens of banks (mostly in Ukraine and Russia) have been compromised and hundreds of millions of dollars have been stolen. The bank in question had not yet been named – and is unlikely to be revealed as analysts are usually abiding by strict non-disclosure agreements until the firm itself chooses to go public with information.

The investigators allegedly claimed that “publicly available information and tools” was likely used to commit the theft – but details remain vague about how the alleged hack took place. Based on local reports, it appears the hackers exploited money transfers usually sent through the Swift system. Swift declined to comment.

As the frequency of banking hacks increases – with institutions in Vietnam and Ecuador also reportedly attacked – Swift has maintained its core systems have not been compromised.