However, according to the research conducted by British defense contractor BAE systems, it seems that the hackers compromised the software so they could delete records of illegal transfers. The hackers were able to hack into the software and didn’t only staggered upon login credentials on a poorly secured network. SWIFT says that its Alliance Access Financial Messaging system which the hackers compromised facilitates millions of messaging in day in more than 2,000 installations across the world. Earlier, it was revealed that the bank used low cost network switches which are available at just $10, which is a device to connect to the SWIFT network. Surprisingly, it didn’t even have a firewall to protect its systems. The SWIFT cooperative told Reuters that it was aware about malware targeting its software and that it would roll out an update to fix it and also issue a notice to its users for revising their security measures. It also observed that the malware was compiled close to date of the attack, it consisted details regarding the bank’s operations and was uploaded from some place in Bangladesh. To recall, hackers targeted Bangladesh’s Central Bank and tried to withdraw $1 Billion Dollars, however they failed as they did a spelling mistake as the hackers misspelled “foundation” in the NGO’s name as “fandation”.
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