Swift hack | Breaking Cybersecurity News | The Hacker News

A Taiwanese bank has become the latest to fall victim to hackers siphoning off millions of dollars by targeting the backbone of the world financial system, SWIFT. SWIFT, or Society for Worldwide Interbank Telecommunication, is a global financial messaging system that thousands of banks and commercial organizations across the world use to transfer billions of dollars every day. Hackers reportedly last week managed to steal almost $60 Million from Far Eastern International Bank in Taiwan by planting malware on the bank's servers and through the SWIFT interbank banking system. According to Taiwanese state-owned news agency Central News Agency, most of the stolen money has now been recovered, with only $500,000 remaining, and authorities have made two arrests in connection with the bank cyber-heist. Far Eastern on Friday admitted that some unknown hackers managed to install malware on computers and servers within its organization, and most crucially, onto a SWIFT terminal emplo

Part of the $81 Million stolen from Bangladesh bank's New York Federal Reserve account earlier this year in the wake of the major malware attack on the SWIFT interbank transfer network has been tracked down to a casino in the Philippines. SWIFT, or Society for Worldwide Interbank Telecommunication, is a global financial messaging system that thousands of banks and organizations around the world use to transfer billions of dollars every day. In February, hackers dropped a piece of malware on a SWIFT terminal employed by Bangladesh's central bank, obtained credentials needed for payment transfers from the New York Federal Reserve Bank, and then transferred large amount to fraudulent accounts based in the Philippines and Sri Lanka. In March, the investigation revealed that the stolen money was then sold to a black market foreign exchange broker and later transferred to at least 3 local casinos in the Philippines. In September, Philippine court ordered the return of $1

Imagine a world where the software that powers your favorite apps, secures your online transactions, and keeps your digital life could be outsmarted and taken over by a cleverly disguised piece of code. This isn't a plot from the latest cyber-thriller; it's actually been a reality for years now. How this will change – in a positive or negative direction – as artificial intelligence (AI) takes on a larger role in software development is one of the big uncertainties related to this brave new world. In an era where AI promises to revolutionize how we live and work, the conversation about its security implications cannot be sidelined. As we increasingly rely on AI for tasks ranging from mundane to mission-critical, the question is no longer just, "Can AI  boost cybersecurity ?" (sure!), but also "Can AI  be hacked? " (yes!), "Can one use AI  to hack? " (of course!), and "Will AI  produce secure software ?" (well…). This thought leadership article is about the latter. Cydrill  (a

A Ukrainian bank has become the latest victim of the widespread cyber attack on global banking and financial sector by hackers who target the backbone of the world financial system, SWIFT. Hackers have reportedly stolen $10 Million from an unnamed bank in Ukraine by exploiting the SWIFT international banking system, according to an independent IT monitoring organization called the Information Systems Audit and Control Association (ISACA). Swift or the Society for Worldwide Interbank Financial Telecommunication is the global banking messaging system responsible for managing Billions of dollars in money transfers each day between financial institutions worldwide. The ISACA branch in Ukraine, who has been hired by the targeted bank to investigate the heist, disclosed that some unknown hackers were able to compromise the bank's security in similar way they hacked Bangladesh central bank and stole $81m (£56m), the Kyiv Post reports. "At the current moment, dozens of ba