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Russian Central Bank Loses $31 Million in Cyber Attack

Hackers stole more than 2 billion rubles ($31 million) from correspondent accounts at the Russian central bank, the bank said on Friday, the latest example of an escalation of cyber attacks on financial institutions around the globe.

Central bank official Artyom Sychyov discussed the losses at a briefing, saying that the hackers had attempted to steal about 5 billion rubles.

A padlock is displayed at the Alert Logic booth during the 2016 Black Hat cyber-security conference in Las Vegas
REUTERS/David Becker

Sychyov was commenting on a central bank report released earlier in the day, that told about hackers breaking into accounts there by faking a client's credentials. The bank provided few other details in its lengthy report.

Financial regulators around the world have recently urged banks to beef up cyber security in the wake of a string of high-profile heists on banks around the world.

Fears about attacks on banks have mounted since February when unknown cyber criminals stole $81 million in funds that Bangladesh's central bank had on deposit at the New York Fed. Law enforcement agencies around the globe are hunting for the criminals who stole the money using fraudulent wire-transfer requests sent over the SWIFT bank messaging network.

Related: Hacker's Typo Tipped Off Authorities to Billion-Dollar Bank Heist

Separately, Russia said on Friday that it had uncovered a plot by foreign spy agencies to sow chaos in the country's banking system via a coordinated wave of cyber attacks and fake social media reports about banks going bust.