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March 14, 2016

Bangladesh Bank, NY Fed Reserve Nearly See a Billion-Dolllar Cyber Heist

Bangladesh’s central bank has admitted that its account at the U.S. Federal Reserve in New York has been targeted in a hack which saw $100 million stolen in a cyber heist. It could have been a lot worse however, with transactions totaling another $870 million were blocked in a potential billion dollar cyber heist.

It is among the largest bank cyber heists in history. The central bank of Bangladesh has revealed that its account in the Federal Reserve – an account used for international settlements – is the target of a cyber-heist which saw 35 separate requests to withdraw money totaling $951 million.

The unknown hackers who breached the computer systems of the bank [...]

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