Hackers Breaks into Taiwan Bank, Carts Away With $60 Million

Pappi Hex

Police in Sri Lanka have arrested two men for aiding international cyber criminals who hacked into the computers of a Taiwan bank, carting away millions of dollars in the process.

According to Taipeitimes, almost $60 million was siphoned  from the Far Eastern International Bank in Taiwan in the heist that took place last week, involvimg some hackers who managed to install malware on the bank servers and through the SWIFT interbank banking system.

SWIFT (also known as Society for Worldwide Interbank Telecommunication) is a global financial system that thousands of banks, commercial companies and organisation across the world use to transfer billions of Dollars everyday.

The malware installed on the server generated fraudulent SWIFT money-moving messages.

Taiwanese state-owned news agency Central News Agency said that the bank on Tuesday, detected the suspicious transactions which funds were routed to accounts in the US, Cambodia and Sri Lanka.

Though the bank have been able to recover much of the stolen funds with the help of banks in other countries, with only $500,000 remaining.

 "We are looking at some $1.3 million that had come into three accounts in Sri Lanka,"one official involved  with the investigation said on condition on anonymity.

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