MANILA: The Philippine central bank has sounded an alert to local financial institutions following a cyber attack at the Malaysian central bank, in which hackers sought to steal money using fraudulent wire transfers, its governor said on Saturday. Bank Negara did not say who was behind the hack or how they accessed its SWIFT servers. The central bank, which supervises 45 commercial banks in Malaysia, said on Thursday there was no disruption to other payment and settlement systems the central bank operates because of the cyber attack. The Bangladesh heist led financial institutions around the globe to bolster security. The Philippine central bank fined RCBC a record one billion pesos ($20 million) in 2016 for its failure to prevent the movement of the stolen money through it.

Source: New Strait Times March 31, 2018 14:26 UTC