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Hackers steal $4.4m from Nepal bank in cyber-heist by abusing Swift network

posted onNovember 8, 2017
by l33tdawg

Officials from the NIC Asia Bank, based in Kathmandu, the capital city of Nepal, have been scrambling in recent weeks to recover from a hack on its computer networks, which abused the Swift financial messaging system to help steal approximately $4.4m (£3.3m).

After multiple investigations, sources have confirmed that most of the stolen funds have now been recovered, with roughly $580,000 yet to be located by authorities.

NIC Asia Bank, one of the largest private sector commercial institutions in the region, brought in experts from the country's central bank – Nepal Rastra Bank (NRB) – and a probe was conducted by KPMG India. Local police were also enlisted to look into the hack.

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