IMF Suffers Major Breach

Wednesday, June 15, 2011 @ 11:06 PM gHale


The International Monetary Fund (IMF) suffered a major breach of its IT systems. While it is not official, reports have suggested it was a spear phishing attack orchestrated by a foreign government.

The IMF, which oversees the global financial system and was instrumental in the economic bailout of countries such as Greece, Ireland and Portugal, said it had suffered “an incident,” but maintained its fund is “fully functional.”

Reports suggested the IMF needed to cut its network connection to the IT systems of the World Bank, located nearby, after finding that a compromised desktop allowed access confidential files.

Security experts continue to warn the security of the world’s critical infrastructures is at risk unless large organizations better prepare themselves for such sophisticated attacks.

The IMF breach comes as hacking attacks on major businesses and governmental organizations continue.



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