(From Reuters)

Vietnam’s Tien Phong Bank (TPBank) said on Sunday it had thwarting a cyber fraud attempt late last year, and a third-party service it used to connect with the SWIFT global money transfers system may have been attacked by hackers.

A man rides a motorcycle past the Vietnamese commercial Tien Phong bank in Hanoi
A man rides a motorcycle past the Vietnamese commercial Tien Phong bank in Hanoi

In an emailed statement responding to Reuters queries, TPBank said the attack involved a suspect transaction worth more than 1 million euros ($1.13 million). It said it has since stopped using the outside vendor on SWIFT’s advice.

SWIFT declined to comment.

BAE Systems (BAES.L) last week said malware was used to target a Vietnamese commercial bank using fraudulent messages on the SWIFT network. The malware operated in a similar way to that used by hackers in the cyber heist of $81 million from the Bangladesh central bank in February. BAE did not name the Vietnamese bank, but SWIFT, the Brussels-based global financial messaging network, disclosed last Thursday that malware targeting a commercial bank had been discovered.

“Via a risk warning and oversight system and a tight internal control process, TPBank has identified a suspicious transaction worth more than a million euros transferred by invalid SWIFT messages that was not executed by the bank itself,” TPBank said in the emailed statement. “This attack … did not cause any losses and had no impact on the SWIFT system in particular and the transaction system between the bank and customers in general,” it said. Read more

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