SWIFT Network Used in $2 Million Heist at Indian Bank

Once again, the Society for Worldwide Interbank Financial Telecommunications (SWIFT) system was leveraged to transfer nearly $2 million through three unauthorized remittances in February.  India-based City Union Bank's SWIFT systems were hacked and leveraged to transfer the funds to accounts in Dubai, Turkey, and China.  City Union Bank is working with authorities to investigate and have found no evidence of internal staff involvement.  Multiple layers of security, such as continuous network monitoring, fraud detection solutions, and adaptive endpoint protection can help protect against threats such as this.

Relevant URL(s): https://www.reuters.com/article/us-city-union-bank-swift/indias-city-union-bank-ceo-says-suffered-cyber-hack-via-swift-system-idUSKCN1G20AF