Hackers Stolen $80 Million From Bangladeshi Central Bank

By | April 23, 2016

Bagladesh's Bank

Hackers stolen $80 Million from Bangladesh’s central bank.

According to the security investigator

Bangladesh’s central bank was vulnerable to hackers because it did not have a firewall and used second-hand, $10 switches to network computers connected to the SWIFT global payment network.

The shortcomings made it easier for hackers to break into the system earlier this year and attempt to siphon off nearly $1 billion using the bank’s SWIFT credentials, said Mohammad Shah Alam, head of the Forensic Training Institute of the Bangladesh police’s criminal investigation department.

The lack of sophisticated switches, which can cost several hundred dollars or more, also means it is difficult for investigators to figure out what the hackers did and where they might have been based, he added. The institute Alam heads includes a cyber crime division.

Cyber criminals broke into the bank’s systems and tried to make fraudulent transfers totalling $951 million from its account at the Federal Reserve Bank of New York in early February.

Most of the payments were blocked but $81 million was routed to accounts in the Philippines and diverted to casinos there.

Nowadays we can see these type of incidents happening all around, It is really bad to see that Banks are not following basic security things.

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