Cyberattack on Brazil tech provider affects reserve accounts of some financial institutions

Brazil’s central bank said on Wednesday that technology services provider C&M Software, which serves financial institutions lacking connectivity infrastructure, had reported a cyberattack on its systems.

The bank did not provide further details of the attack, but said in a statement that it ordered C&M to shut down financial institutions’ access to the infrastructure it operates.

C&M Software commercial director Kamal Zogheib said the company was a direct victim of the cyberattack, which involved the fraudulent use of client credentials in an attempt to access its systems and services.