Security News > 2020 > May > There's Norway you're going to believe this: World's largest sovereign wealth fund conned out of $10m in cyber-attack

There's Norway you're going to believe this: World's largest sovereign wealth fund conned out of $10m in cyber-attack
2020-05-14 06:04

The Norwegian Investment Fund has been swindled out of $10m by fraudsters who pulled off what's been described as "An advanced data breach."

Norfund - which is the Norwegian government's funding vehicle for developing countries - said a hacker was able to manipulate the organization into routing a loan intended for a Cambodian microfinance organization into an account controlled by the crooks.

The investment fund said the money appears to have been diverted from the organization in Cambodia to Mexico.

Despite Norfund's considerable wealth, the Norwegians aren't going to let this one slide.

CEO Tellef Thorleifsson is promising swift action to prevent the organization from getting conned again - they are going to go viking on this one.


News URL

https://go.theregister.co.uk/feed/www.theregister.co.uk/2020/05/14/they_cant_affjord_it/