Hackers steal half a billion rubles from Russian Central Bank subsidiary

In early 2016, hackers managed to steal 508.67 million rubles ($7.68 million) from a correspondence account at Russian International Bank (RMB), a subsidiary of the Russian Central Bank.

The RMB admitted to the hacker theft in recent International Financial Reporting Standards report.

Law enforcement agencies launched an investigation into the stolen funds back in March 2016.

The RMB has managed to recover more than half of the stolen 508.67 million rubles by actively coordinating with Russia's Central Bank and other third party banks. The RMB is still working to return the remaining funds.

Since the theft, the RMB says it has taken a number of measures to improve its cybersecurity.