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Extent of IMF hack not disclosed

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1Extent of IMF hack not disclosed  Empty Extent of IMF hack not disclosed Sun Jun 12, 2011 10:29 pm

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NEW YORK: The International Monetary Fund, already reeling from last month's arrest of its former leader, is investigating an attack on its computer system.

IMF spokesman David Hawley said the organisation is fully functional. He declined to provide further details on what he termed an "IT incident," including its scope or nature and whether any sensitive data were taken.
The IMF has confidential information on countries in financial trouble.
The New York Times cited unnamed IMF officials as saying the attack was sophisticated and serious.

Concerns about the IMF attack were great enough that the World Bank cut a computer link that allows the two organisations to share non-sensitive information, according to a bank official.
The move was taken out of "an abundance of caution," said the official, who spoke on condition of anonymity because of the security issues around the incident.

It's not clear if hackers were targeting the IMF. Hackers sometimes try to distribute malicious software code widely and see which organisations it can infect.

But they can also choose targets. Using a technique called "spear phishing," for instance, they can trick employees of a specific organisation into clicking a link that then gives hackers access to its computer systems.

Dave Jevans, chairman of computer security firm IronKey Inc, said he's concerned by an uptick in "hacktivism," where groups target organisations for political purposes.
It's possible the IMF was the victim of such hacktivism. However, one official cited by the Times said the attack occurred over the last several months.

The IMF attack follows a string of major data breaches.
In recent months, hackers have penetrated 100 million Sony PlayStation accounts, the networks of Lockheed Martin and the customer e-mail databases of a company that does marketing for Best Buy and Target stores.

Google has accused Chinese hackers of targeting the Gmail accounts of US Government officials, while about 200,000 Citibank credit card customers in North America had their names, account numbers and e-mail addresses stolen.
The IMF is already facing a public-relations headache after the arrest of Dominique Strauss-Kahn, who resigned as IMF chief last month after being accused of sexually assaulting a maid in a New York hotel. - AP
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katt

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By Ron Haruni Jun 12, 2011, 3:14 PM Author's Website
The New York Times reports that the International Monetary Fund [IMF], still struggling to find a replacement by June 30 for its former chief Dominique Strauss-Kahn [DSK], who resigned right after his arrest on sexual assault charges in New York, was hit recently by what computer experts call “a large and complicated cyberattack whose dimensions are still not known.”

The IMF, which handles financial crises around the globe and is the database of highly sensitive information regarding the monetary condition of its 187 member nations, informed its board of directors about the attack on Wednesday. But it didn’t make a public statement.

A number of senior officials with knowledge of the matter told the Times that the attack was equally sophisticated and serious. “This was a very major breach,” said one official, who asserted it had taken place during the last several months, even before DSK was arrested.
Asked about the actual reports of the computer attack late Friday, a spokesman for the Washington-based fund, David Hawley, declined to offer information or discuss the scope or dynamics of the breach.
“We are investigating an incident, and the fund is completely functional,” he said.
Because the fund continues to be at the center of economic bailout programs for Portugal, Greece, Ireland and now possibly Spain – and possesses very sensitive data on other nations which may be on the verge of crisis – its database, notes the Times, contains information that could be used to influence or trade currencies, bonds and other financial instruments in major exchanges around the world.

Earlier this month, the IMF said it had taken safety measures after hacktivist group known as “Anonymous” indicated its hackers would target the IMF web site in reaction to the rigorous austerity measures in its rescue package for Greece.
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