15 Feb 2019
Bank of Valletta which accounts for almost half of Malta’s banking transactions, had to shut down all of its operations on Wednesday after hackers broke into its systems and shifted funds overseas.
Prime Minister Joseph Muscat told parliament the cyber attack involved the creation of false international payments totaling 13 million euros ($14.7 million) to banks in Britain, the United States, the Czech Republic and Hong Kong.
The funds have been traced and the Bank of Valletta is seeking to have the fraudulent transactions reversed.
Muscat said the attack was detected soon after the start of business on Wednesday when discrepancies were noticed during the reconciliation of international transactions.
Link to Reuters
Count this content towards your CPD minutes, by signing up to our CPD WalletFREE CPD Wallet