We all know the havoc the hackers who hacked into BOV’s system generated. Apart from the stolen money, and the inconvenience to the general public; we must add that now most of us are skeptic about how secure our money is in local banks!

Anyhow, that aside… it now looks like the hackers who broke into Bank of Valletta’s IT systems last month, had planned to attack again at a later date through what we can call a ‘back door’. Luckily enough, this was noticed and blocked (hopefully!).

Sources close to the investigation into last month’s cyberattack said that in the days after the breach, files were found hidden in the bank’s systems, possibly intended to allow the hackers to regain access at a later stage.

bov maltaThe hackers took €13 million from the bank this February 13th and managed to put at a complete halt the Bank’s operations for endless hours. Investigations are still on to try and trace the missing cash and point out any flaws in banking security systems.

It has come to our attention that one potential suspect was the international hacking organisation known as Cobalt Gang. This organisation has already wreaked havoc on the international banking sector in the past. The suspect group, had been known to infiltrate international banks’ ATM systems, card-processing networks and the international interbank payment messaging programme SWIFT before executing attacks.

The hacking group was also believed to have targeted another Maltese bank, however their attempts appeared to have been unsuccessful. A review of the breach has already indicated that the hackers could have been attempting to infiltrate it as far back as October 2018! It is not yet clear how long the hackers had access to the bank’s systems before the robbery was carried out.

Anyhow, useless to cry on spilled milk, right? Now, new guidelines on security are being drawn. Unfortunately, this mishap has left Malta to face increasing pressure on its reputation, with some clients taking into consideration closing down their accounts.

Real life cyber-attacks on real banks ain’t as fun to watch as a Money Heist series, right? Let’s hope this never happens again for everybody’s sake!