Bank of Seychelles hit by a ransomware attack

Pierluigi Paganini September 12, 2020

The Development Bank of Seychelles (DBS) was hit by a ransomware attack disclose the Central Bank of Seychelles (CBS).

The Central Bank of Seychelles (CBS) disclosed via a press statement that the Development Bank of Seychelles (DBS) was hit by a ransomware attack.

DBS is a joint venture by the Seychelles government and some shareholders including Bank, Caisse Francaise de Cooperation, European Investment Bank, DEG, Standard Chartered Bank, and Barclays Bank. 

Since its creation, the shares of Standard Chartered Bank were taken over by Nouvobanq. DBS bought back Barclays’ share and Government purchased the shares of DEG, hence, increasing its shareholding to 60.50%.

Since then, the government and DBS bought the shares of Barclays Bank and DEG, allowing the Seychelles government to reach the control of 60,50% of the bank’s shares.

“The Central Bank of Seychelles (CBS) has been informed of a ransomware attack on the network of the Development Bank of Seychelles (DBS).” reads the statement.”The incident was communicated to CBS on Wednesday 9 September 2020. Since then, CBS has been engaging with DBS to establish the exact nature and circumstances of the incident and closely monitor the developments, including the possible impact on DBS’ operations.”

According to the press release, the ransomware attack took place on September 9, 2020. CBS and DBS immediately launched an investigation into the incident and are assessing the extent of the attack.

The bank did not provide technical details of attack such as the family of ransomware that infected its systems.

At the time it is not clear if the attackers have also exfiltrated some data before encrypting the bank’s systems.

“The CBS has stressed on the need for DBS to maintain communication with its clients and other stakeholders, particularly within the banking sector, throughout this process.” continues the statement. “The CBS will be providing further details to the general public once the full extent of this reality has been clearly understood.”

CBS concluded announcing the adoption of appropriate measures to protect the integrity of the financial system and maintain confidence in the banking sector.

CBS is committed to updating customers and stakeholders on the evolution of the event and on the investigation.

Recently another bank disclosed a ransomware attack, Chilean bank BancoEstado was also forced to shut down its branches following an infection.

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Pierluigi Paganini

(SecurityAffairs – hacking, ransomware)

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