For banks in cyber heist, how to get their money back?

Illustration file picture shows a man typing on a computer keyboard in WarsawBy Joseph Ax NEW YORK (Reuters) – Because the sums were large and such attacks are relatively new, the two Middle East banks hit in a $ 45 million ATM heist face an uncertain path in trying to recover their losses, financial, insurance and legal experts say. Oman-based Bank of Muscat lost $ 40 million and United Arab Emirates-based National Bank of Ras Al Khaimah PSC (RAKBANK) lost $ 5 million in the global heist, U.S. prosecutors said on Thursday. Hackers gained access through third-party companies that processed transactions for prepaid debit cards issued by the banks, the prosecutors said. …


Full Story Via Tech News Headlines – Yahoo! News

Comments are closed.