California-based cybersecurity firm FireEye believes that North Korean hackers were behind the $10 million cyber theft that hit Banco de Chile in May, Diario Financiero reported.

According to the firm, a group of hackers known as APT38 was behind the virus attack. The group has reportedly targeted at least 16 organizations in 11 countries in an attempt to raise funds internationally.

In response to other hacking incidents and data breaches in Chile throughout 2018, the country's government and banking watchdog issued a series of regulatory changes and response protocols to address rising security concerns.