Industry News

2 arrested in Sri Lanka in Taiwan bank hack

Sri Lanka’s Criminal Investigation Department, in collaboration with Taiwanese law enforcement, has apprehended two suspects in Colombo for allegedly aiding in the hacking of a bank in Taiwan that culminated in the theft of millions of dollars, writes AFP.

The two allegedly hacked the bank’s computer systems and were arrested after trying to withdraw money from their accounts. A third suspect is at large.

“We are looking at some $1.3 million that had come into three accounts in Sri Lanka,” said an official who requested to stay anonymous. “We have taken two people into custody and we are looking for one more person.”

According to Taiwan News, the victim is the Far Eastern International Bank, hacked after “a hacker put a virus into the bank’s computer system and tried to remove less than US$500,000 (NT$15,000).”

The Financial Regulatory Commission in Taipei confirmed that malware was used to breach the bank’s SWIFT system, but no other comments were made.

The Far Eastern International Bank reported suspicious transactions to the United States, Cambodia and Sri Lanka. Most of the stolen money was recovered, said Taiwanese police.

“Through the planted malware, hackers conducted virtual transactions to move funds totaling nearly US$60 million from Far Eastern Bank customers’ accounts to some foreign destinations such as Sri Lanka, Cambodia and the United States,” the bank said.

About the author

Luana PASCU

From a young age, Luana knew she wanted to become a writer. After having addressed topics such as NFC, startups, and tech innovation, she has now shifted focus to internet security, with a keen interest in smart homes and IoT threats. Luana is a supporter of women in tech and has a passion for entrepreneurship, technology, and startup culture.

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