Cyber Heist Hits NIC ASIA Bank

NIC ASIA Bank’s SWIFT system has been hacked by unidentified cybercriminals, reports The Kathmandu Post. Nepal Rastra Bank(NRB), the central bank, has confirmed this cyber theft. As per NRB, this theft took place during Tihar vacation, when all the operation of the banks remains closed.

SWIFT, or Society for Worldwide Interbank Telecommunication, is a global financial messaging system that is used by thousands of banks worldwide to transfer money.

There are rumors that hackers have stolen Rs. 30 crore from the Bank. However, NRB has not confirmed the stolen amount yet.

NRB has written to international banks and central banks of different countries to hold the amount transferred by NIC ASIA Bank.

“Account holders need not worry about their deposit. It is safely parked in their account.” said, NRB Deputy Spokesperson Rajendra Pandit.

In the history of banking in Nepal, this cyber heist is one of the biggest cybercrime. There could be many reasons behind this event. Even if we suppose NIC ASIA Bank had maintained the required security measures, in the end, it got hacked.

Cybercriminals are getting more vulnerable each day. They are finding sophisticated ways to get into the systems. Considering this, each bank in Nepal now should be extra alert. If this mishap can occur to NIC ASIA Bank, then any other bank in Nepal can be the next victim.