Another Hack in Nepal: Hacker’s steal 15.6 Million from ADBL

bank hack in nepal

On Tuesday (24th September, 2019) a system hack takes place in Nepal which is one of the biggest hack in Nepal done by Nepali Hackers. A total of 15.6 million Nepali currency was stolen from the bank. According to the investigators, hackers make their way and enter the bank system and then steal the money.

A spokesperson from the Nepal Rastra Bank says ” the modus operandi used in this case was unusual. In the past, swift hacking and ATM hacking were heard in Nepal. However, this case was neither a swift hacking nor an ATM hacking.”

In Nepal, time and again security breach occurs because of weak banking security. Previously, we have heard about the security breach in NIC bank and now there is a huge security breach in Agriculture Development Bank Limited.

In this Security breach police have arrested 11 suspected people from different places. Some of them are bank staff and some are other computer technicians. The Central Bank has also supported the suspicions. However, the police has refused to speak more about this incident. They say that this is the initial stage of investigation so for more detail information we have to wait for some days.

Also read the article: Security Breach on Facebook.

How to Increase the Security of the Bank??

Day by day many cyber crime are taking place in Nepal. In order to stop those crime a serious steps needs to be taken. Previously the cyber crime was limited to email blackmail, facebook account hack, data piracy, etc but now it has increased up to bank hack. Because of the weak system in bank many international and local hackers are targeting the banks of Nepal.

In order to build an effective policy for the banking system we have suggested some of the following methods.

  • Always use the latest and upgraded tools and technologies. The more you upgrade your technologies and tools, the more your data will be secure.
  • Keep a close eye on the data and accounts of the bank.
  • Build a trusted network that will protect your system from the reach of hackers.
  • Implementation of various security and networking monitoring tools.

If you have any suggestions regarding the security policy that a bank should implement then please share us your thought in the comment section below.

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