Another bank has been hit, this time in Pakistan, Bank Islami discovered the breach on Oct 27th, 2018, when customers were sent a message informing them of unusual transactions from their accounts. The breach was allegedly done by exploiting the bank's card system and moving funds to accounts based in other countries.
The final report stated that about 6 million was stolen, however this conflicts with the official bank statement indicates that a great number less was stolen, about 2.6 million. This money was compensated to the victims. Bank Islami shut down its international payment scheme, afterwards, they refused to acknowledge the 6 million loss.
The bulk of the losses were traced back to POS (Point of Sale) at Target Stores, from the US and Brazil.
Although Bank Islami stated that the losses were way less than first thought, there are some who don't trust what they say. Bank Islami made an official statement via Twitter, and a user aptly responded stating that a friend of his lost about 3 million from their branch in Islamabad.
Since the bank was breached via POS, Bank Islami restricted its overseas transactions. If the count turns out to be true, this will end up being the biggest in Pakistan's history.
Okay guys, that was a news, take it easy out there and stay safe.
(Sorry for the radio silence, I have been off the grid for a week now, sick and working, and loving none of it.
We are back now, love you all.)
----Sh7nk-Z0id
The final report stated that about 6 million was stolen, however this conflicts with the official bank statement indicates that a great number less was stolen, about 2.6 million. This money was compensated to the victims. Bank Islami shut down its international payment scheme, afterwards, they refused to acknowledge the 6 million loss.
The bulk of the losses were traced back to POS (Point of Sale) at Target Stores, from the US and Brazil.
Although Bank Islami stated that the losses were way less than first thought, there are some who don't trust what they say. Bank Islami made an official statement via Twitter, and a user aptly responded stating that a friend of his lost about 3 million from their branch in Islamabad.
Since the bank was breached via POS, Bank Islami restricted its overseas transactions. If the count turns out to be true, this will end up being the biggest in Pakistan's history.
Okay guys, that was a news, take it easy out there and stay safe.
(Sorry for the radio silence, I have been off the grid for a week now, sick and working, and loving none of it.
We are back now, love you all.)
----Sh7nk-Z0id
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