"Authorities detected the incident after hackers allegedly tried to divert another payment intended for India. Australian officials are reportedly aware of irregularities in payments owed to the country, suggesting that the Sri Lankan thefts could be broader than first thought."
"Treasury Secretary Harshana Suriyapperuma told reporters at a press conference last week that the hackers diverted the payment from the country's postal authority 'to other bank accounts, instead of the intended recipient.'"
"Business email compromise scams are popular with cybercriminals, and recent FBI data has shown such attacks remain one of the top sources of cybercriminal profits, as hackers can steal vast sums of money via a single breach."
"News of the successive security lapses has put new pressure on the Sri Lankan government after years of financial difficulties. The country is still recovering from an economic crisis that led to it defaulting on its debt in 2022."
Sri Lanka reported a missing payment of approximately $625,000 to the U.S. Postal Service, following failed delivery claims. Authorities discovered the issue after hackers attempted to divert another payment meant for India. Australian officials noted irregularities in payments owed to them, indicating a broader theft issue. The Sri Lankan government is probing a separate $2.5 million theft from the finance ministry. These incidents are believed to be business email compromise attacks, which have become a significant source of cybercriminal profits, leading to increased scrutiny on the government amid ongoing economic recovery efforts.
Read at TechCrunch
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