Turkey’s Akbank Suffers Online Attack, Faces US$4m In Damages
All of this goes to show the banking system as we know continues to pose a systemic risk. The year 2016 has been filled with multiple banks getting hacked. One of those intrusions has gone by virtually unnoticed. Turkey’s AKbank, one of the largest institutions in the country, may find themselves liable for up to $4m in damages. The bank suffered a major attack on the SWIFT global money transfer system albeit Akbank claims no customer info was compromised. It appears Akbank has been the target of an attack against SWIFT on December 8. That is rather surprising, as SWIFT issued guidelines....
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