Turkey’s Akbank faces $4 million hit from attempted cyber heist

By Can Sezer and Birsen Altayli | ISTANBUL

Hackers targeted Turkey’s Akbank via the SWIFT global money transfer system in an attack which the bank said had not compromised customer data but would cost it up to $4 million.

Banks globally face a growing threat from cyber attacks, more of which have succeeded since February’s $81 million heist from the Bangladesh central bank.

It was not immediately clear how much, if any, money had been stolen from Akbank, Turkey’s third-largest listed bank by assets and it would not give any further details beyond confirming it had been targeted in a SWIFT attack on Dec. 8.

Akbank said in a statement on Thursday it had immediately taken preventive measures and informed authorities, that its systems were working properly and there was no loss to customers.

“This has no impact on Akbank’s operations or financials. The maximum risk Akbank would face is $4 million,” it said, adding that any potential losses would be covered by insurance.

Source: Turkey’s Akbank faces $4 million hit from attempted cyber heist