India's City Union BankBSE 0.61 % said on Sunday that "cyber criminals" had hacked its systems and transferred nearly $2 million through three unauthorised remittances to lenders overseas via the SWIFT financial platform.
City Union said on Saturday it had been able to block one of the remittances, totalling $500,000, that was being sent through a Standard Chartered Bank account in New York to a Dubai-based lender.
A second transfer of 300,000 euros ($372,150) was routed through a Standard Chartered Bank account in Frankfurt to a Turkish account, although the Turkish lender had blocked the transfer from being finalised.
A third totalling $1 million was sent through a Bank of America account in New York to a China-based bank, which Kamakodi on Sunday identified as Zhejiang Rural Credit Cooperative Union in Hangzhou, China.
Brussels-based SWIFT has been urging banks to bolster security of computers used to transfer money since Bangladesh Bank lost $81 million in a February 2016 cyber heist that targeted central bank computers used to move funds.
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City Union Bank CEO says suffered cyber hack via SWIFT system
City Union said on Saturday it had been able to block one of the remittances, totalling $500,000, that was being sent through a Standard Chartered Bank account in New York to a Dubai-based lender.
A second transfer of 300,000 euros ($372,150) was routed through a Standard Chartered Bank account in Frankfurt to a Turkish account, although the Turkish lender had blocked the transfer from being finalised.
A third totalling $1 million was sent through a Bank of America account in New York to a China-based bank, which Kamakodi on Sunday identified as Zhejiang Rural Credit Cooperative Union in Hangzhou, China.
Brussels-based SWIFT has been urging banks to bolster security of computers used to transfer money since Bangladesh Bank lost $81 million in a February 2016 cyber heist that targeted central bank computers used to move funds.
Read more at:
City Union Bank CEO says suffered cyber hack via SWIFT system
