SWIFT Network Used in $2 Million Heist at Indian Bank
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In an attack reminiscent of the one on Bangladesh Bank in 2016, attackers this weekend made $2 million in unauthorized transfers from India's City Union Bank via the SWIFT financial network, Reuters reports. One of the transfers, for $500,000, was stopped.
The attack comes on the heels of a Friday report that an unnamed Russian bank had suffered a $6 million theft via the SWIFT network last year, and reports last week that insiders at India's Punjab National Bank had conspired in a $1.8 billion fraud case.
The unauthorized transfers from City Union Bank - which were being made to lenders in Dubai, Turkey, and China through City Union Bank's correspondent financial institutions - were discovered by a private lender Saturday.
