Its looking more and more like scenes from a Hollywood blockbuster or Ocean's 11, the saga of global heists of huge amounts continue all over the world. Although a lot of occurrences are not publicised! These highly technical organised criminals are not just going to go away. "They’ve built the tools. They are going to keep going back”. There’s a thriving market for these tools on the dark web and criminals have realised they don’t need guns or physical presence to pull off huge thefts.
A cyber-attack on NIC Asia Bank, which reportedly lost millions of rupees last week in the biggest-ever cyber heist in Nepal, was imminent, as the banking institution had allowed staff of the Information Technology (IT) Department to use computers deployed for SWIFT transaction to perform tasks like checking personal e-mails.
It is unclear how much money the attackers made off with or which banks were affected but NIC Asia Bank is among the banks whose codes were compromised and bank officials have not responded to requests for comments.
SWIFT had stopped some heists thanks to an update to its software that automatically sends alerts when hackers tamper with data on bank computers used to access the messaging network.
SWIFT has mandated 27 controls which should help reduce the risk associated with most of these attacks. Grant Thornton is working with a few banks by providing advice and assurance over these controls.
“They are not just going to go away. They’ve built the tools. They are going to keep going back,” he said.