Cyber attack attempts to steal USD 171 million

Synopsis

Attackers distributed fifteen emails to bank employees which appeared to originate from a reputable source. Just one employee clicked on the attachment but that was sufficient for the hackers to to transfer USD $171 million from the bank.

Initially transferred from their accounts at Citigroup and J.P. Morgan in New York, the recovery process necessitated a seven country hunt (spearheaded at top levels of government) to reverse the theft.

Fortunately the bank's manual control environment detected the fraud quickly and funds were recovered in full within 60 hours of discovery.

Speak to the analyst

Want to discuss this case? We're offering a FREE 20 minute phone consultation to discuss this case and the implications it has for your organisation. Just select the time and date that works for you:

Analyst

Courtenay Brammar

Experienced global enterprise risk and governance professional. Previously Vice President at Morgan Stanley, Deloitte Risk Advisory practitioner and PRMIA steering committee member in both London and New York.

Additional services

We offer a range of cost-effective, fixed-price training programmes and consultant services derived from the unique insights gained from all our case study data.

If you'd rather we did the heavy lifting in developing a cyber incident response plan or lessons learnt training for your organisation underpined by our unique insight into the challenges faced and strategies implemented by organisations countering today's cyber security threats then please contact us here.