Hackers Steal Millions from Mexican Banks in Cyber Heist

mexican pesos

Hackers have reportedly stolen millions of pesos from Mexican banks by creating faux orders demanding wire transfers to fake accounts before withdrawing the money.

Citing sources from the government’s investigation into a major heist, Reuters is reporting that hackers sent hundreds of false orders to seek wire transfers ranging from tens of thousands to hundreds of thousands in pesos from a number of banks including Mexico’s second-largest bank Banorte.

The hackers then sent accomplices to empty the accounts in cash withdrawals from dozens of branch offices.

According to Mexican daily El Financiero, the hackers are said to have stolen some 400 million pesos from the hack (approx $20 million). A Reuters source, meanwhile, pegs that estimate near 300 million pesos ($15.4 million).

Banxico’s head of payment systems Lorenza Martinez, meanwhile, claimed five banks had seen “unauthorized transfers’, claiming hackers may have been facilitated by inside help from bank branches since big cash withdrawals are uncommon.

Martinez insisted that the central bank’s interbank wire transfer system itself wasn’t compromised, pointing the blaming at software developed by banks and third-party providers that are plugged into the payment system.

Meanwhile, the five banks and brokers are working with Mexico’s attorney general to determine if organized criminals played a part in the cyber heist, Bloomberg confirms.

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