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A new cybersecurity incident could severely affect Bangladesh Bank. This time, the presence of a dangerous malware variant capable of seriously compromising the bank’s networks has been detected. The Bangladesh Computer Council confirmed the incident recently, in a letter to the bank.
“We try to inform the bank about some recently detected security risks; if the necessary measures are not taken, multiple risk scenarios could be presented,” says the Director of the Council. The alert was presented to Bangladesh Bank in recent days.
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The malware detected by the Council was used as an access point for hackers, as well as for data theft and fraudulent transfer. Just a few months ago, the Council issued a similar warning, hoping that the bank would take the necessary steps to mitigate the risk of a massive cyberattack.
Cybersecurity incidents have increased significantly over the most recent few years. In 2016, for example, losses generated from these criminal activities exceeded $100 million USD, mainly due to the presence of a backdoor on the bank’s networks. In addition, the Bangladesh Bank team reports ongoing attempts at malware infection on their systems, so it is considered a frequent target of threat actors.
The main cause of cybersecurity incidents in Bangladesh Bank are security flaws in their networks, which are exploited by hackers to be able to inject a variant of ransomware. However, bank executives have had no problems with retrieving your information after paying the ransom and getting the decryption keys.
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