Brazil’s ‘biggest-ever’ heist highlights cyber security gaps
Experts say theft, targeting network linking small lenders to central bank, could have been prevented
Brazil’s largest-ever theft by value could have been prevented if the banks targeted had basic cyber security measures in place, cyber security experts have told Central Banking.
The theft occurred on June 30 when criminals drained several of the country’s small lenders of their reserves. The authorities believe the theft was made possible by João Nazareno Roque, an employee at a local fintech, who had allegedly sold his login credentials to the criminals back in March. The fintech, C&M Software
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