State-backed cyber attacks attributed to IMF, according to a recent document
The International Monetary Fund (IMF) and the UK's Treasury have been the latest victims of a series of high-profile cyber attacks targeting financial and economic data.
According to reports by Bloomberg News, the IMF experienced a cyberattack earlier this year, which was revealed to its staff on Wednesday. The breach, which occurred over several months, preceded the sexual assault accusation against former IMF chief Dominique Strauss-Kahn.
The compromised desktop was used to access sensitive documents, resulting in large amounts of data being leaked. The IMF has not confirmed any specific state behind the state-sponsored attack, but an unnamed source familiar with the matter declined to speak on the matter, citing lack of authorisation.
The official from The Times newspaper described the breach as "a very major breach." This comes after France's finance ministry was successfully compromised at the end of last year, adding to the growing concerns about the vulnerability of financial institutions to cyber threats.
In a related development, the UK Chancellor, George Osborne, revealed that the Treasury is subject to daily attempted cyber attacks, making it the most targeted government department.
The cyberattacks are not just limited to the IMF and the UK's Treasury. The International Monetary Fund's breach follows an internal email report of an employee's desktop being compromised at the organisation. The International Monetary Fund, like many other institutions, is now grappling with the reality of a digital world where financial and economic data is being targeted by hackers.
