Jan 152017
 

Sugata Ghosh & Sangita Mehta report:

Indian banks are waking up to a new kind of cyber attack. Hackers recently infiltrated the systems of three government-owned banks -two head headquartered in Mumbai and one in Kolkata -to create fake trade documents that may have been used to raise finance abroad or facilitate dealings in banned items.

The banks in question discovered that their SWIFT systems -the global financial messaging service banks use to move millions of dollars and documents across borders every day -have been compromised to create fake documents.

Read more on ET Tech.

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