Attacking Finance Industry
This post is an overview for those who are concerned about Finance, Fintech, and their security. It provides brief summaries and links to articles and news, describing incidents or the most remarkable events in the sphere.
So learn about the latest news!
National Bank of Pakistan hit with cyber-attack
On the night of November 29-30, 2021, the National Bank of Pakistan was subjected to a cyber attack. The incident affected the bank’s backend systems and servers used to connect the bank’s branches, the internal infrastructure that controls the ATM network, and the bank’s mobile applications. While some systems were disabled due to the attack, the funds remained intact, according to bank officials and sources familiar with the investigation.
On November 30 and 31, experts were engaged in the restoration of the affected systems, and by Monday, November 1, more than 1,000 branches of the bank had opened and received customers as usual. The operation of ATMs throughout Pakistan was also fully restored.
The incident is currently being investigated not as a ransomware attack, but as attempted sabotage.
A cyberattack disrupted Bank of Ecuador systems
Banco Pichincha, the largest private bank in Ecuador, was hit by ransomware that disrupted its systems and shut down ATMs and its online banking portal.
In order to prevent the spread of the attack to other systems, the bank’s specialists had to disconnect part of their network. Banking apps, email, digital channels, and self-service were not available due to technical issues.
This incident did not affect the bank’s financial resources. Representatives of Banco Pichincha have not revealed the nature of the cyberattack. According to cybersecurity sources, the attack is related to criminals installing Cobalt Strike beacons on the victim’s network.