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LatinNews Regional Monitor: Brazil & Southern Cone - 11 June 2018

In brief: Chile

Chile: Chile’s local media is reporting that last month staff at Banco de Chile, the country’s commercial largest bank, shut down 9,000 computers after a virus was detected, affecting some client operations. Investigators later discovered that the virus had been used as a distraction while the hackers stole US$10m from the bank via the Swift international payment system, with the majority ending up in Hong Kong. Banco de Chile later released a statement emphasising that client assets and data had not been compromised during the attack, which targeted the bank directly. Financial regulators, including the Superintendencia de Bancos e Instituciones Financieras (SBIF), have been monitoring the situation and will meet on 12 June to discuss the case, as will Chile's ministerial committee for cybersecurity. “This changes the vision of Chilean companies as to how we should protect ourselves, or how we are going to make our processes more sophisticated,” Banco de Chile director Eduardo Ebensperger told local media. “It’s essential to keep developing, not only in terms of investments, but also in security protocols”.

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