Vietnam's TPBank thwarts Swift messaging heist

Vietnam's TPBank thwarts Swift messaging heist

Vietnam's Tien Phong Bank has confirmed that it thwarted an attempt by cyber criminals to transmit EUR1 million using bogus Swift messages in the third quarter of last year.

TPBank's confirmation of the attempted cyber heist comes just days after bank-owned messaging network Swift warned members that a second bank had been targeted by the same kind of malware-based attack that led to an $81 million loss at the Bangladesh Central Bank.

In a statement to Reuters, the Vietnamese bank said the transfers were made using a third party supplied messaging interface to the Swift network. The bank has not disclosed the identity of the vendor, but says that it has switched to using a new system that offers a higher level of security.

Cybersecurity firm BAE Systems said last week that malware similar to that used by hackers in Bangladesh had been implicated in attempted theft at a Vietnamese bank.

In the immediate aftermath of the Bangldesh boost, interbank co-operative Swift confirmed that it had experienced a number of recent instances of hackers compromising network interface devices at client banks.

Comments: (1)

Hitesh Thakkar
Hitesh Thakkar - SME - Fintech startups (APAC and Africa) - India 16 May, 2016, 12:23Be the first to give this comment the thumbs up 0 likes

Joining Dotted lines - Bangladesh, X Bank of Y Country ( Swift did not disclose it) and Now Vietname belong to Asian region.

This seems to big cyber crime ring.

There can be two possibilities: 1. Asian hackers attacking asian countries - Less chances of such

2. Europe/Russian/African hackers attacking asian countries - I have seen it works in most of the attacks with history as old as year 2000.