Hackers Breach Virginia Bank, Make Off With Millions

Hackers have compromised a bank in the United States twice in the past eight months and made off with millions of dollars.

But the cyber attacks has resulted in a spat between the bank and its insurer provider which is refusing to fully cover the losses.

The incident is a salient reminder of the online threat being faced by banks and financial institutions. Earlier this year the Swiss financial watchdog, Financial Market Supervisory Authority (FINMA), warned that cyber threats were now the biggest threat to the Swiss financial system.

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Source: Silicon