Iran's banking system hit by first ever electronic robbery

[InfoSec News <isn () c4i org>]

http://www.iranmania.com/News/ArticleView/Default.asp?NewsCode=19048&NewsKind=Current%20Affairs

October 26, 2003

TEHRAN, Oct 26, (AFP) -- An Iranian hacker has managed to rob a local 
bank of some 700 million rials (83,000 dollars) in the first reported 
case of a bank in Iran being robbed by computer, press reports said 
Sunday.

The Shargh newspaper said the bank was accessed by a hacker who 
managed to credit his or her account and then withdraw the money at 
ATM machines which have only recently been introduced in the country.

The bank was not identified, but last week the Iranian media reported 
that Bank Melli -- the country's oldest bank -- had been experiencing 
some problems with electronic cash dispensers.

Automated Telling Machines, or ATMs, have only begun to appear in Iran 
in recent years. But for most clients, a visit to a bank normally 
requires patiently sifting their way through a bundle of paperwork and 
several layers of bureaucracy.

The Shargh newspaper said the thief was still at large, but gave no 
further details.


 
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