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Cyber thieves who stole US$12 million in total from an Ecuadorian bank in 2015 routed US$9 million in funds through 23 companies registered in Hong Kong, some of them with no clear business activity, according to previously unreported court filings and judicial rulings, Reuters reported on Wednesday.
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The court papers show where some of the money was moved after it reached accounts in Hong Kong.
The filings stem from a lawsuit filed in early 2015 by Ecuador's Banco del Austro (BDA) in Hong Kong against the web of companies that received or handled more than $US9 million in stolen funds, bank records submitted to the territory's Court of First Instance show. The BDA lawsuit alleged the companies had been "unjustly enriched" and sought recovery of the money.
The remaining $US3 million was routed to entities in Dubai and elsewhere, according to separate court filings in the U.S. Those transfers are not the subject of litigation in Hong Kong.
The cyber thieves allegedly used the SWIFT global messaging system to move the funds. SWIFT, a conduit for bank money transfers worldwide, also was the network used to move US$81 million out of Bangladesh Bank in February.
According to the Hong Kong court filings, BDA submitted criminal reports to police in both Hong Kong and Ecuador about the transfers. The content of those reports was not part of the court record reviewed by Reuters.
The attacks have caught the attention of global investigative agencies. The U.S. Federal Bureau of Investigation and Bangladesh authorities are leading a search for criminals behind the February heist, which ranks among the largest ever.
In the Ecuadorian heist, the money was transferred by Wells Fargo (WFC.N) based on authenticated SWIFT messages, and both BDA and the U.S. bank now believe those funds were stolen by unidentified hackers, according to documents in a BDA lawsuit filed against Wells Fargo in New York this year.
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