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On July 2, several Brazilian financial institutions fell victim to cyber attacks, wherein hackers exploited vulnerabilities in the C&M Software payment system to facilitate large-scale illicit fund transfers. The Central Bank of Brazil's subsequent investigation unveiled that the attack originated from a third-party service provider's system, rather than the bank's internal systems. To date, the exact amount of funds involved and the full list of affected institutions remain undisclosed, but police have already stepped in to address the situation. In response, the Central Bank of Brazil took swift action, severing connections to the compromised system interfaces, halting the service provider's transfer operations, and mandating a thorough review of its qualifications.
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