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IMF Hit By Major Cyber Attack, Extent Of Breach Unknown

The International Monetary Fund has been hit by a large, sophisticated and potentially state-sponsored cyber attack.

The IMF failed to release details on the nature and extent of the attack, but security experts believe that the cyber attack could have been a serious breach.

The fund is responsible for bailing out countries on the brink of a financial meltdown and contains sensitive data regarding several countries that have taken the help of the fund. A cyber attack on the fund was clearly aimed at stealing the sensitive financial data and use to for nefarious means.

People familiar with the situation told Bloomberg (opens in new tab)that the cyber attack had resulted in theft of ‘large quantity’ of data including sensitive documents and emails.

According to an internal memo sent by IMF chief information officer Jonathan Palmer to the organisation's employees, under the cyber attack, suspicious file transfers had occurred and a desktop PC was compromised and used to access fund systems.

The memo pointed out that the cyber attack was not aimed at stealing personal information.

“Perhaps most frightening of all is the fact that these type of attacks could quite easily be directed towards Critical National Infrastructure (CNI) organisations, for example energy and water, where the impact of such a breach would have severe, immediate and potentially life-threatening consequences for everyday citizens,” said Mohan Koo, managing director at security firm Dtex Systems, The Telegraph (opens in new tab) reports.