Banco de Chile Loses $10 Million in SWIFT-Related Attack

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Repeat hacker tactic: Deploy destructive malware to distract defenders from a separate, full-on attack that targets an organization’s crown jewels. Call it the electronic version of a smash-and-grab attack, but without breaking windows.

This “smokescreen” style of attack continues to be seen, most recently against Banco de Chile, the country’s second largest bank, which on May 24 lost about $10 million due to fraudulent SWIFT wire transfers. The theft happened while the bank was dealing with hundreds of workstations and servers that suddenly stopped working.

Read full news article on bankinfosecurity.com