02:30 PM

SWIFT Network Used in $2 Million Heist at Indian Bank

The theft at India's City Union Bank comes on the heels of news that attackers stole $6 million from a Russian bank via SWIFT network last year.

In an attack reminiscent of the one on Bangladesh Bank in 2016, attackers this weekend made $2 million in unauthorized transfers from India's City Union Bank via the SWIFT financial network, Reuters reports. One of the transfers, for $500,000, was stopped.

The attack comes on the heels of a Friday report that an unnamed Russian bank had suffered a $6 million theft via the SWIFT network last year, and reports last week that insiders at India's Punjab National Bank had conspired in a $1.8 billion fraud case. 

The unauthorized transfers from City Union Bank - which were being made to lenders in Dubai, Turkey, and China through City Union Bank's correspondent financial institutions - were discovered by a private lender Saturday. 

City Union's CEO N. Kamakodi told Reuters there is "so far no evidence of any internal staff involvement," but said "we are very clear now the account holders are part of this conspiracy."

The Committe on Payments and Market Infrastructure, in September, called for greater security of inter-bank messaging services like SWIFT.  

For more information, click here.



Black Hat Asia returns to Singapore with hands-on technical Trainings, cutting-edge Briefings, Arsenal open-source tool demonstrations, top-tier solutions and service providers in the Business Hall. Click for information on the conference and to register.

Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio

Comment  | 
Print  | 
More Insights
Newest First  |  Oldest First  |  Threaded View
Who Does What in Cybersecurity at the C-Level
Steve Zurier, Freelance Writer,  3/16/2018
The Case for Integrating Physical Security & Cybersecurity
Paul Kurtz, CEO & Cofounder, TruSTAR Technology,  3/20/2018
Cybercriminals Launder Up to $200B in Profit Per Year
Kelly Sheridan, Staff Editor, Dark Reading,  3/19/2018
Register for Dark Reading Newsletters
White Papers
Current Issue
How to Cope with the IT Security Skills Shortage
Most enterprises don't have all the in-house skills they need to meet the rising threat from online attackers. Here are some tips on ways to beat the shortage.
Flash Poll
[Strategic Security Report] Navigating the Threat Intelligence Maze
[Strategic Security Report] Navigating the Threat Intelligence Maze
Most enterprises are using threat intel services, but many are still figuring out how to use the data they're collecting. In this Dark Reading survey we give you a look at what they're doing today - and where they hope to go.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
Published: 2017-05-09
NScript in mpengine in Microsoft Malware Protection Engine with Engine Version before 1.1.13704.0, as used in Windows Defender and other products, allows remote attackers to execute arbitrary code or cause a denial of service (type confusion and application crash) via crafted JavaScript code within ...

Published: 2017-05-08
unixsocket.c in lxterminal through 0.3.0 insecurely uses /tmp for a socket file, allowing a local user to cause a denial of service (preventing terminal launch), or possibly have other impact (bypassing terminal access control).

Published: 2017-05-08
A privilege escalation vulnerability in Brocade Fibre Channel SAN products running Brocade Fabric OS (FOS) releases earlier than v7.4.1d and v8.0.1b could allow an authenticated attacker to elevate the privileges of user accounts accessing the system via command line interface. With affected version...

Published: 2017-05-08
Improper checks for unusual or exceptional conditions in Brocade NetIron 05.8.00 and later releases up to and including 06.1.00, when the Management Module is continuously scanned on port 22, may allow attackers to cause a denial of service (crash and reload) of the management module.

Published: 2017-05-08
Nextcloud Server before 11.0.3 is vulnerable to an inadequate escaping leading to a XSS vulnerability in the search module. To be exploitable a user has to write or paste malicious content into the search dialogue.