Overview

• Cybercriminals hijacked the commune’s banking credentials by deactivating authorized phones and activating two new devices to execute five 20 million-peso transfers plus additional smaller withdrawals.
• The 120 million pesos stolen represent four cycles of municipal salaries and have left workers, suppliers and projects unpaid while core services run on an untouched term deposit.
• The bank’s IT division, the Santa Fe Police of Investigations and local prosecutors have launched coordinated investigations to trace the stolen funds and identify those responsible.
• Comuna de Bella Italia has filed formal complaints with local police and the prosecutor’s office and is pressing the bank for immediate restoration of the missing funds.
• The breach underscores critical gaps in the bank’s authorization controls and delayed alerts, prompting calls for strengthened cybersecurity safeguards in Argentina’s public sector.