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In the past two years, the financial world has been stunned by three major cyber-attacks on banks which were committed by (1) utilising the digital infrastructure of the targeted banks and (2) exploiting weaknesses in the systems that connect banks to the global SWIFT network. Our new article discusses the modus operandi of (1) the attack on Ecuadorian Banco del Austro in January 2015, (2) the attack on Vietnam’s Tien Phong Commercial Joint Stock Bank in May 2015, and (3) the attack on Bangladesh Central Bank in February 2016.
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