The government of Sri Lanka has disclosed another missing payment, days after hackers stole $2.5 million from its finance ministry. The latest incident brings the total losses to over $3 million in two separate cybersecurity incidents.
In a statement released earlier today, the Ministry of Finance revealed that a ransom demand had been made on behalf of a foreign hacker, demanding an additional $1.5 million in exchange for not releasing sensitive information about the country’s financial transactions.
The hackers had breached into the finance ministry’s systems, making off with over $2.5 million in early January. The incident was widely condemned by Sri Lankan authorities and international experts, who warned of the severe consequences of such cyber attacks on a nation already reeling from a 2022 debt crisis.
Since then, the government has been scrambling to rectify the situation, implementing new security measures to prevent future breaches. However, it appears that these efforts have not been enough to prevent another incident.
The latest payment in question is reportedly related to a contract for importing medical equipment. The Ministry of Finance has confirmed that the payment was made via an online platform, and the hackers had gained unauthorized access to the system.
“We are taking this matter very seriously,” said a government spokesperson, who wished to remain anonymous. “We will do everything in our power to recover the lost funds and prevent such incidents from happening again.”
The incident has raised concerns about the country’s ability to protect its financial systems, given its fragile state of economic affairs. The 2022 debt crisis had pushed Sri Lanka to the brink of default, and the nation is still grappling with the consequences.
As the government struggles to come to terms with these losses, questions are being asked about the effectiveness of its cybersecurity measures. International experts have warned that Sri Lanka’s financial systems are vulnerable to cyber threats due to inadequate security protocols and lack of resources.
“This incident highlights the need for greater investment in cybersecurity infrastructure,” said a cybersecurity expert from the US-based Carnegie Endowment for International Peace. “Small and medium-sized countries like Sri Lanka are particularly susceptible to cyber attacks, given their limited resources.”
The hackings have raised concerns about the potential impact on Sri Lanka’s relations with other nations. Diplomatic sources say that foreign investors and creditors are starting to lose confidence in the government’s ability to manage its finances.
As Sri Lanka continues to navigate this crisis, one thing is clear: the country needs to take concrete steps to strengthen its cybersecurity capabilities if it wants to protect its economy and avoid further financial losses.
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