BNM foils latest cyber heist attempt

By NUR HAZIQAH A MALEK / Pic By TMR

Bank Negara Malaysia (BNM) said it has detected and foiled a cyber security incident involving attempted unauthorised fund transfers using falsified Society for Worldwide Interbank Financial Telecommunication (SWIFT) messages on Tuesday.

The central bank said in a statement yesterday that all unauthorised actions were aborted through an immediate action in partnership with SWIFT, other central banks and financial institutions.

“The bank did not experience any financial loss in the incident, and there was also no disruption in other payment and settlement systems that the bank operates,” it said.

Currently, BNM is investigating the incident in collaboration with local and international law enforcement agencies.

It noted that all risk control measures in place are effective to curtail the incident.

“However, the bank has taken additional safeguards to protect its stakeholders.

“The bank will also remain on high alert and always be in a state of readiness as future incidents will likely involve a

higher degree of sophistication and design,” it said.

BNM said financial institutions should remain alert towards potential cyber security risks and enhance their security measures against these cases.

The central bank noted that Malaysian payment and settlement systems remain unaffected and continue to operate as usual.