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Vulnerabilities / Threats

5/11/2016
10:30 AM
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Investigations Into Bangladesh Bank Heist Indicate ‘Inside Job’

FBI suspects bank worker may have acted as accomplice in the $81 Million theft.

Investigations being carried out in the $81 Million Bangladesh Bank heist point fingers at an inside job with at least one worker being suspected of acting as a collaborator, reports Security Week quoting the Wall Street Journal.

The FBI, which is carrying out the probe, has also indicated that a ‘handful of others’ may be involved in the well-planned theft that raises questions over how secure the worldwide linking of central banks are.

In February, hackers attempted to steal nearly $1 billion from the account of Bangladesh Bank at the Federal Reserve Bank of New York via the SWIFT network. They allegedly managed to breach the bank’s computers to gather details on international payments and fund transfers and fabricated electronic transfer orders for payment. By the time the US Fed Bank reacted to the fraudulent transfers and stopped them, $81 Million had already been transferred to the Philippines.

Bangladesh Bank has partly blamed SWIFT for the theft, say sources, but the network services company claims the bank was responsible for its internal security.

Read more on this story at Security Week.

Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio
 

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SynergyIT
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SynergyIT,
User Rank: Apprentice
5/13/2016 | 11:33:27 AM
Risky Business
This was one of the spectacular heist in the modern Era.  The whole episode clearly shows how vulnerable are we in the cloud computing era. 
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