There’s Norway you’re going to believe this: World’s largest sovereign wealth fund conned out of $10m in cyber-attack


Sunnylvsfjorden Fjord in Norway with a cruise ship

The Norwegian Investment Fund has been swindled out of $10m (£8.2m) by fraudsters who pulled off what’s been described as “an advance data breach.”

Norfund – the world’s largest sovereign wealth fund, created from saved North Sea Oil revenues and currently worth over $1tn – said a hacker was able to manipulate the organization into routing a loan intended for a Cambodian microfinance organization into an account controlled by the crooks. As a result, in March, 100m Kroner was lost.

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