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IMF hit by cyber attack

 

Agencies via China Daily, June 12, 2011

The International Monetary Fund, the intergovernmental group that oversees the global financial system and brings together 187 member nations, has become the latest known target of a significant cyber attack. 

The IMF nameplate is displayed at its headquarters during the World Bank/International Monetary Fund Spring Meetings in Washington in this April 11, 2008 file photo. The IMF has been hit by a cyber attack on its computer systems, an IMF spokesman said on June 11, 2011, highlighting a growing rash of network break-ins at high-profile institutions. [Photo/Agencies]

Such a presence could yield a trove of non-public economic data used by the Fund to promote exchange rate stability, support balanced international trade and provide resources to remedy members' balance-of-payments crises.

"It was a targeted attack," said Tom Kellerman, who has worked for both international financial institutions and who serves on the board of a group known as the International Cyber Security Protection Alliance.

The code used in the IMF incident was developed specifically for the attack on the institution, said Kellerman, formerly responsible for cyber-intelligence within the World Bank's treasury team and now chief technology officer at AirPatrol, a cyber consultancy.

The attack on the IMF was the latest to become known in a rash of cyber break-ins that have targeted high-profile companies and institutions, often to steal secrets with potentially far-reaching economic implications. The list of victims includes Lockheed Martin Corp, Sony Corp and Citigroup Inc.

IMF spokesman David Hawley said Saturday the Fund was "fully functional," despite the attack.

"I can confirm that we are investigating an incident," he said, adding that he was not in a position to elaborate on the extent of it. He declined to respond to requests for comment on Kellerman's conclusion about the intruders' goal.

The US Federal Bureau of Investigation is helping to investigate the attack on the IMF, according to a US Defense Department spokeswoman.

Difficult to prove

A World Bank official said the Bank had cut its network connection with the IMF out of "caution" even though the information shared on that link was "non sensitive."

Rich Mills, a Bank spokesman, said "the World Bank Group, like any other large organization, is increasingly aware of potential threats to the security of our information system and we are constantly working to improve our defenses."

Jeff Moss, a self-described computer hacker and member of the Department of Homeland Security Advisory Committee, said he believed the attack was conducted on behalf of a nation-state looking to either steal sensitive information about key IMF strategies or embarrass the organization to undermine its clout.