12/5/2016
11:55 AM

Hackers Steal $31 Million From Russia's Central Bank

Bank says cybercriminals faked client credentials to break into accounts and attempted to steal 5 billion rubles.



Russia's central bank was robbed of $31 million (more than 2 billion rubles) after hackers broke into accounts at the bank by faking a customer's credentials, Reuters reports. Bank official Artyom Sychyov said the attackers had tried to steal around 5 billion rubles, but failed to obtain that amount.

The cyber theft comes in the wake of allegations by Russia that foreign spies were trying to create turmoil in the nation's financial system via cyberattacks and misleading stories about banks going out of business.

Hackers have recently been responsible for stealing millions of dollars from financial institutions across the globe. In February, $81 million was illegally transferred out of Bangladesh’s central bank at The Federal Reserve Bank of New York.

Read full report on Reuters

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