NIC Asia Bank’s SWIFT server was hacked last month, with the attackers illegally transferring $4.4 million to multiple countries, reported Reuters.
The attack happened over Nepal’s annual festival holidays, while the bank was closed.
Citing officials conducting an investigation, the report stated that most of the stolen money has been recovered.
“The incident showed there are some weaknesses with the IT department of the bank. Once the investigation report is available, we’ll provide guidelines to avoid such incidents in future,” said the Central Nepal Rastra Bank.
SWIFT said it offers assistance when a case of potential fraud is reported, but it does not comment on individual entities.