Ukrainian bank cyber-heist: Hackers take off with $10m

June 27, 2016

Hackers have reportedly stolen $10m from a bank in Ukraine by exploiting the Swift messaging system, according to reports emerging from the region citing an independent IT monitoring organisation called the Information Systems Audit and Control Association (ISACA).

English-language newspaper, the Kyiv Post, has reported the ISACA branch in Ukraine disclosed that cybercriminals were able to compromise the bank’s security in similar fashion to the incident at the Bangladesh central bank in which $81m (£56m) was stolen by hackers.

“At the current moment, dozens of banks (mostly in Ukraine and Russia) have been compromised, from which has been stolen hundreds of millions of dollars,” a member of the ISACA reportedly said before elaborating that $10m was compromised from a Ukrainian bank under investigation.

The bank in question has not yet been named – and is unlikely to be revealed as analysts are usually abiding by strict non-disclosure agreements until the firm itself chooses to go public with information.

“Banks now are not sharing such information at all and are afraid of publicity,” said Aleksey Yankovsky, head of ISACA’s Kyiv division, according to local media outlets.

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