Information Security News mailing list archives
South-east Asian banks most used to receive funds from fraudulent transactions: SWIFT
From: InfoSec News <alerts () infosecnews org>
Date: Fri, 12 Apr 2019 08:29:59 +0000 (UTC)
https://www.businesstimes.com.sg/banking-finance/south-east-asian-banks-most-used-to-receive-funds-from-fraudulent-transactions-swift By Vivienne Tay The Business Times April 12, 2019HACKERS used South-east Asian banks to receive funds from 83 per cent of all studied fraudulent transactions in 2018 and 2019, according to global payments network SWIFT.
The remaining 17 per cent were spread across Europe, North America and the Middle East, SWIFT said in a recent report.
Called beneficiary or “mule” accounts, these bank accounts are typically used by hackers to materialise funds extracted from financial systems.
South-east Asian financial institutions were also named as one of the major targets by cyber attackers over the last 15 months, with other regions targeted including Africa, Central Asia and Latin America. In all cases, targeted institutions were banks with smaller cross-border transactions per day.
[...]
-- Subscribe to InfoSec News https://www.infosecnews.org/subscribe-to-infosec-news/ https://twitter.com/infosecnews_
Current thread:
- South-east Asian banks most used to receive funds from fraudulent transactions: SWIFT InfoSec News (Apr 13)