SWIFT says helping Bangladesh Bank rebuild network after cyber heist
04 Feb 2019

International payments network SWIFT said on Saturday it had signed an agreement with Bangladesh’s central bank to help it rebuild its infrastructure after hackers used it to steal $81 million in 2016 in the world’s biggest cyber heist.

Unidentified hackers, suspected to be from North Korea, carried out the heist by breaching Bangladesh Bank’s systems and using the SWIFT network to send fraudulent money transfer orders to the New York branch of the U.S. central bank, with which the Dhaka bank has an account.

SWIFT’s comments came after the New York Fed on Friday agreed to provide “technical assistance” to Bangladesh Bank in its lawsuit against Manila-based Rizal Commercial Banking Corp (RCBC) (RCB.PS). RCBC was used to funnel the money, much of which disappeared into the casinos of the Philippines.

– By Krishna N. Das, Reuters, 2 February 2019.

Link to Reuters

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