Hackers compromised Indian state banks systems

Hackers infiltrated three government-owned Indian banks and used their SWIFT network to generate fake trade documents like letters of credit and garantees.
Letters of credit are letters wrote between banks to ensure payment to the supplier of goods when certain conditions are met. They serve as a guarantee particularly in another country.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is a network which enables financial institutions worldwide to send and receive information about financial transactions in a secure environment. Besides messages for fund transfers the SWIFT system is used to communicate trade documents and may have been used to place the fake documents with banks abroad to 1) rise fundings 2) trade prohibited or illegal commodities.
(The Economic Times)