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Cybercriminals attack Nepali banks’ SWIFT system

Gorkha Post



KATHMANDU — Unidentified cybercriminals have reportedly hacked into the SWIFT system of some Nepali banks to steal money, exposing vulnerability in the information technology system of the banks,according to media reports.

Society for Worldwide Interbank Telecommunication (SWIFT), is a global financial messaging system that thousands of banks and commercial organisations across the world use to transfer money.

The Nepal Rastra Bank (NRB), the central bank of the country, has confirmed the report that cyber theft was took place on the day of Laxmi Puja during the Tihar Festival, when all the banks and the central monetary authority remained closed.

It is learnt that some Nepali banks including NIC Asia Bank’s SWIFT codes have been hacked by hackers by using malware in their system.

The Cable News Network (CNN) reported that the North Korea based hackers might have been involved in the latest hacking. It had also suspected that the similar SWIFT code used by the group in South Korean banks hacking in 2013 have been used again.

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In May 2016, cyber criminals had hacked into the computer of a Bangladeshi central bank official to make illegal payments via SWIFT.

According to a report prepared by the Russia-based computer security firm Kaspersky Lab in 2015, international cybercriminals had attempted to attack financial institutions in Nepal using a malware called Carbanak.

The criminals had sent messages to the New York Federal Reserve seeking to transfer nearly $1 billion from Bangladesh Bank’s account, Reuters reported.

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China supports to reconstruct Tatopati border point





KATHMANDU — The Chinese government has agreed to extend the assistance to Nepal for the projects on post-disaster recovery for Tatopani border point, the hospital recovery in Sindhupalchowk and reconstruction of Jiri Secondary School.

An agreement to this was signed and exchanged at the Ministry of Finance today, said a press statement issued by the Ministry.

Chinese government has pledged to provide Rs 48 billion grants for it.

Finance Secretary Shankar Prasad Adhikari and Chinese Ambassador to Nepal Yu Hong signed the agreements on behalf of the government of Nepal and the Chinese government respectively.

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For the resumption of the Tatopati border point, the budget would be used for renovation of building and establishment of protection measures, so that trade clearance capabilities would be improved.

Similarly, under hospital recovery project, a middle sized hospital equipped with necessary facilities having 39 beds would be constructed in Sindhupalchowk.

School reconstruction is aimed at recovering and improving school facilities and functions.

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