A group of hackers stole approximately $3 million from DemirBank based in Azerbaijan, taking advantage of flaws in the bank’s security system, Interfax news agency reports on Monday citing the local media.
The hackers took advantage of vulnerability of the card system and set to withdrawing funds from bank accounts outside the country. According to the media, the incident took place at the beginning of last week, however, the bank management made a decision to keep the information secret from public. The representatives from DemirBank decline to comment so far.
DemirBank was established in 1989 and is one of ten leading banks of Azerbaijan. Among its shareholders, there is the European Bank for Reconstruction and Development and the Dutch Financial Development Company.