Nepal bank comes under 'denial of service attack'

A major commercial bank in Nepal reportedly witnessed dubious activities, a day before cyber-espionage groups hacked the IT server of NIC Asia Bank to allegedly steal millions of rupees.

The bank, according to sources, has come under a 'denial of service attack', The Kathmandu Post reported.

Under this attack, hackers flood the server with fake requests and make the network slow. They then penetrate into the system to steal important information.

However, it is reported that the hackers did not gain access to any important information.

Technology is fundamental to the banking sector today. But this case of 'denial of service attack' has yet again exposed the sector's vulnerability to threats posed by cybercriminals.

Earlier, the global cybersecurity company, Kaspersky Lab had revealed that cyber-espionage groups are moving towards using supply chain attacks and legitimate tools to attack financial institutions in the Asia Pacific region.

From spying, stealing, and leaking state, military, and trade secrets; cybercriminals operating in the Asia Pacific region aim for monetary gain as they infect banks in APAC countries, researchers at Kaspersky Lab had said.