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Investigators from Taiwan arrive to probe bank hacking link

A team of investigators from Taiwan have arrived in Sri Lanka to probe a Sri Lankan link to the hacking of a bank in Taiwan.

The Police said that two investigators and an official from the Taiwan had arrived in Sri Lanka.

The former chairman of Litro Gas Shalila Moonesinghe had been arrested over the hacking.

Moonesinghe was arrested by the Criminal Investigations Department (CID) after US$1.1 million from the Far Eastern International Bank in Taiwan was found in his personal bank account.

Far Eastern International Bank was hacked by means of a computer virus and some US$60 million was wired to the accounts of the suspects at a Sri Lanka bank.

Two suspects were arrested last week in Sri Lanka when they tried to withdraw the money. Litro Gas is a government owned gas company. (Colombo Gazette)

1 Comment

1 Comment

  1. raza

    October 13, 2017 - 22:03 at 22:03

    Hacking of Bank Dollar Accounts appear to be simple operation for some well organised rings. But taking out the Money is not going to be so easy unless the Banks are not ready to meet these challenges. It has to be routed through some clients Bank Accounts. Few decades ago it was difficult to open a Bank Account,in most cases you need a good source of introduction. Now because of competition, and opening of the economy Account opening is very simple, a very junior officer handles these in many Banks. This give loopholes , and hackers target Banks with loose or no controls in opening the Account. Hacking Bangladesh Central Bank where US $ 81 M lost in February 2016 is an eye opener to Officers Dealing in Banks Treasury Operations. An Alert Treasury Officer in Union Bank of India detected almost immediately hacking of US $181M in July 2016 and prevented the loss.(The Hindu April 15,2017) Local Bank Officers must know Why they are asking to fill ” Know Your customer Form” This is not to file,but to understand the customer’s activity well and detect Money Laundering activities. Local Banks have miserably failed in detecting this aspect In the Bangladesh Central Bank Hacking, and the present Taiwanese Bank hacking.

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