Bangladesh Bank Heist Secrets

In today’s online banking you can expect fraudulent activities to be a common place with many hackers’ easily accessing people’s computers and acquiring password and other vital information. However for a country to have its savings taken by fraudsters this is beyond belief.

How did cyber criminals target almost $1bn in Bangladesh Bank and get away with it. In total $951m worth of transactions were fraudulently requested but luckily majority was blocked by US bank and only $101m went through initially. Out of those transactions that went through one was recovered worth $20m.

There are many suggestions of insider involvement. The Governor of the Bangladeshi Central Bank Dr Atiur Rahman resigned following accusation of Bank incompetency made by the Finance Minister.

One report produced by the FT.com goes into in-depth technical details about this story and the techniques used by the cyber criminals to get their hands on cash owned by Bangladesh Bank.