IMF hit by IT attack to gain insider information
Source: Agencies |
June 13, 2011, Monday
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Print Edition
Print Edition
A MAJOR cyber attack on the IMF aimed to steal sensitive insider information, a cyber security expert said yesterday, as the race to lead the body which oversees global financial system heated up.
The US Federal Bureau of Investigation is helping to investigate the attack on the International Monetary Fund, the latest in a rash of cyber break-ins that have targeted high-profile companies and institutions.
"The IMF attack was clearly designed to infiltrate the IMF with the intention of gaining sensitive 'insider privileged information,'" cyber security specialist Mohan Koo, who is also managing director of Dtex Systems (UK), said.
A June 8 internal memo from Chief Information Officer Jonathan Palmer told staff the Fund had detected suspicious file transfers and that an investigation had shown a desktop computer "had been compromised and used to access some Fund systems."
"At this point, we have no reason to believe that any personal information was sought for fraud purposes," it said.
The New York Times cited computer experts as saying the IMF's board of directors was told of the attack last Wednesday, though the assault had lasted several months.
The IMF said it remains "fully functional" but has declined to comment on the extent of the attack or the nature of the intruders' goal.
News of the hack came at a sensitive time for the world lender of last resort, which is seeking to replace former managing director Dominique Strauss-Kahn, who quit last month after being charged with the attempted rape of a hotel maid.
French Finance Minister Christine Lagarde remains the frontrunner to replace him, although Stanley Fischer, the Bank of Israel governor and a former IMF deputy chief, has emerged as a late candidate, and Mexico's central bank chief, Agustin Carstens, is another contender.
Jeff Moss, a self-described computer hacker and member of the Department of Homeland Security Advisory Committee, said he believed the attack was conducted on behalf of a nation-state looking to either steal sensitive information about key IMF strategies or embarrass the organization to undermine its clout.
He said it could inspire attacks on other large institutions.
Lockheed Martin Corp, the Pentagon's No. 1 supplier by sales, disclosed two weeks ago that it had thwarted a "significant" cyber attack.
Also hit recently have been Citigroup Inc and Sony Corp.
The US Federal Bureau of Investigation is helping to investigate the attack on the International Monetary Fund, the latest in a rash of cyber break-ins that have targeted high-profile companies and institutions.
"The IMF attack was clearly designed to infiltrate the IMF with the intention of gaining sensitive 'insider privileged information,'" cyber security specialist Mohan Koo, who is also managing director of Dtex Systems (UK), said.
A June 8 internal memo from Chief Information Officer Jonathan Palmer told staff the Fund had detected suspicious file transfers and that an investigation had shown a desktop computer "had been compromised and used to access some Fund systems."
"At this point, we have no reason to believe that any personal information was sought for fraud purposes," it said.
The New York Times cited computer experts as saying the IMF's board of directors was told of the attack last Wednesday, though the assault had lasted several months.
The IMF said it remains "fully functional" but has declined to comment on the extent of the attack or the nature of the intruders' goal.
News of the hack came at a sensitive time for the world lender of last resort, which is seeking to replace former managing director Dominique Strauss-Kahn, who quit last month after being charged with the attempted rape of a hotel maid.
French Finance Minister Christine Lagarde remains the frontrunner to replace him, although Stanley Fischer, the Bank of Israel governor and a former IMF deputy chief, has emerged as a late candidate, and Mexico's central bank chief, Agustin Carstens, is another contender.
Jeff Moss, a self-described computer hacker and member of the Department of Homeland Security Advisory Committee, said he believed the attack was conducted on behalf of a nation-state looking to either steal sensitive information about key IMF strategies or embarrass the organization to undermine its clout.
He said it could inspire attacks on other large institutions.
Lockheed Martin Corp, the Pentagon's No. 1 supplier by sales, disclosed two weeks ago that it had thwarted a "significant" cyber attack.
Also hit recently have been Citigroup Inc and Sony Corp.
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