Russian Central Bank Hacked by Cyber Thieves

Russian Central Bank Hacked by Cyber Thieves
Russian Central Bank Hacked by Cyber Thieves

(MOSCOW) - Hackers stole more than 2 billion rubles ($31 million) from correspondent accounts at the Russian central bank and from accounts in commercial banks, the bank said on Friday, the latest example of an escalation of cyber attacks on financial institutions around the globe.

  • Central bank official Artyom Sychyov discussed the losses at a briefing, saying that the hackers had attempted to steal about 5 billion rubles.
  • He said the figures were the totals recorded stolen, or the target of attempted theft, in cyber attacks over the course of 2016.
  • Sychyov was commenting on a central bank report released earlier in the day, that told of hackers breaking into accounts there by faking a client's credentials.
  • The bank provided few other details in its lengthy report.

Financial regulators around the world have recently urged banks to beef up cyber security in the wake of a string of high-profile heists on banks around the world.

READ MORE:  RUSSIA'S PUTIN UPDATES CYBER DOCTRINE FOR NATION

Fears about attacks on banks have mounted since February when unknown cyber criminals stole $81 million in funds that Bangladesh's central bank had on deposit at the New York Fed. Law enforcement agencies around the globe are hunting for the criminals who stole the money using fraudulent wire-transfer requests sent over the SWIFT bank messaging network.

Separately, Russia said on Friday that it had uncovered a plot by foreign spy agencies to sow chaos in the country's banking system via a coordinated wave of cyber attacks and fake social media reports about banks going bust.

Reuters News, TRUNEWS Commentary

 

Article by Doc Burkhart, Vice-President, General Manager and co-host of TRUNEWS with Rick Wiles
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