Case Study: European Bank stops $100M SWIFT fraud and fortifies defenses with Eastnets

Bank Stops an Active Attack Fortifies Defenses Against Future Breaches

European Bank worked with Eastnets after discovering that its SWIFT Alliance Access server had been compromised in an active cyberattack. The breach had already triggered more than $100 million in fraudulent wire transactions sent to three countries, and the bank needed immediate help to stop the attack and understand how it happened.

Eastnets helped cancel most of the fraudulent payments, recovering nearly 90% of the assets at risk, and then performed an onsite investigation to identify weaknesses in passwords, firewall rules, access controls, physical security, monitoring, and employee training. Eastnets also provided a remediation plan to strengthen defenses, including dedicated SWIFT workstations, better encryption, privileged access management, malware scanning, application whitelisting, and incident response procedures.