Weekend Cyberattack on Pakistani bank reported to be a Historic $6 Million Loss, Bank Denies Claim

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Weekend Cyberattack on Pakistani bank reported to be a Historic $6 Million Loss, Bank Denies Claim

By CircleID Reporter
October 30, 2018, 9:43 pm PDT Views: 8,633 Add Comment

Karachi-based Bank Islami revealed Saturday morning that it had detected abnormal transactions resulting in 2.6 million Pakistani rupees, roughly $19,500 and precautionary steps where taken immediately. But ZDNet reports anonymous sources have indicated that the bank may know more than it’s letting up. “The anonymous source’s information was confirmed by a statement issued by the State Bank of Pakistan (SBP), the country’s central banking entity and regulator, in an advisory to its own clients and fellow banks. ... Bank Islami may be in denial because if the bank is proven to have acted too late in stopping the attack, it is on the hook for the $6 million alleged funds…”

By CircleID Reporter

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