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Banco de Chile Loses $10 Million in SWIFT-Related Attack

Banco de Chile Loses $10 Million in SWIFT-Related Attack First, Attackers Distracted Bank, Using Buhtrap Malware to Cause Mayhem Jeremy Kirk (jeremy_kirk) • June 13, 2018 Photo: Wikimedia Commons

Repeat hacker tactic: Deploy destructive malware to distract defenders from a separate, full-on attack that targets an organization's crown jewels. Call it the electronic version of a smash-and-grab attack, but without breaking windows.

See Also: How to Keep Your Endpoints Safe from Cybercrime

This "smokescreen" style of attack continues to be seen, most recently against Banco de Chile, the country's second largest bank, which on May 24 lost about $10 million due to fraudulent SWIFT wire transfers. The theft happened while the bank was dealing with hundreds of workstations and servers that suddenly stopped working.

The Banco de Chile attack follows an uptick in attacks against banks in Latin America. Last month, five banks in Mexico saw attacks against the Interbank Electronic...(continued)

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