Tag: CyberCrime

Sri Lanka Launches Investigation After Cyber Theft of 2.5 Million Dollars Cyber fraud uncovered in sovereign debt payment system Sri Lankan authorities have started a formal investigation after hackers breached finance ministry systems and diverted 2.5 million dollars from a scheduled debt payment to Australia. Officials say the transfer was part of a bilateral repayment arrangement linked to a settlement planned for September 2025. The issue came to light only after the Australian side reported that the payment had not been received. How the money was diverted Investigators believe the attackers targeted the debt payment process by manipulating instructions sent through email communication channels. This allowed them to redirect funds into unauthorized bank accounts instead of the intended recipient. Authorities suspect the breach happened in January, but the discovery was delayed for several months. Officials also noted that the hackers attempted a similar manipulation during a later payment related to India. That attempt raised further suspicion and helped uncover irregularities in banking details. Government action and internal suspensions Harshana Suriyapperuma, secretary of the finance ministry, confirmed that four senior officers from the Public Debt Management Office have been suspended as part of the investigation. The government is now working with international law enforcement partners to trace the stolen funds and identify those responsible. Deputy finance minister Anil Jayantha Fernando stated that the case became clearer after repeated attempts to alter payment instructions triggered internal reviews. Economic background adds pressure This cyber incident comes at a sensitive time for Sri Lanka, which is still recovering from a severe financial crisis in recent years. The country previously struggled with a major foreign currency shortage that disrupted imports of fuel, food, and medicine. Sri Lanka later defaulted on a large portion of its external debt, estimated at 46 billion dollars. The crisis led to widespread public protests and major political changes in 2022. International coordination underway Australian officials confirmed they are aware of the issue and are supporting Sri Lanka’s investigation. Both countries are now coordinating to track the diverted funds and secure future payment systems. Authorities in Colombo have also increased warnings about cyber scams, especially those targeting financial and government institutions.
Crime and Justice

Sri Lanka Launches Investigation After Cyber Theft of 2.5 Million Dollars

Cyber fraud uncovered in sovereign debt payment system Sri Lankan authorities have…

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