Foreign news: Cybercrooks manage a Swift getaway
In an echo of the infamous Bangladesh Bank hack, India's City Union Bank said cybercrooks compromised its connection to the Swift messaging system and made three fraudulent transfers worth nearly US$2 million. In a statement, reported by Finextra, the bank said it found the fraudulent transactions during its reconciliation process on 7 February. The previous day, the hackers had managed to disconnect the bank's printer connected to Swift, meaning that the bank did not receive acknowledgement messages for the transactions. News of the heist comes just days after reports that a Russian bank last year lost US$6 million in an attack that took advantage of internal security weaknesses in the bank's gateway to Swift.