India's Cosmos bank raided for $13m by hackers

Nice for a bank to admit it!

'hackers made off with $13.4m in stolen funds"

Any word on who the bank stole the funds from in the first place?

Well, $13.4 mil is not much for North Korea to "burn" to fund Fatty Boy's lifestyle. It'll just last him a few hours before the money runs out.

Bad news about this is that they pulled hard cash, which is un-trackable.

MOAR OUTSOURCING!

Shutting the wrong stable door

"The Indian bank... has suspended online banking in the wake of the incident."

A bunch of money was stolen by withdrawing it from ATMs and once again abusing SWIFT. The bank has therefore blocked all its customers from using online banking, despite that not having been involved in any way.

More than banks get those FBI

"a confidential alert sent from the FBI to US banks" - it's sent to more than just banks because I got it, too, and we're not a bank. It was from an FBI-issued PIN (Private Industry Notification, # 20180809-001) and was marked "TLP: AMBER" (Traffic Light Protocol), meaning it can be shared among others in your peer and partner organizations.

Bankers

Banks really need to be better regulated. There should be international security standards mandating chip and pin or better still biometric. Some countries like Norway have had photographs on credit cards for years (I know that won't help in this case or online fraud). Is the cost really so high that the banks don't want to reduce fraud? The idea that you can go online and purchase things with just the card number is so 20th century. Its like using a typewriter or VHS player.