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Some Bangladesh Bank Officials Involved In Heist, Says Investigator (reuters.com)
Ruma Paul, reporting for Reuters: Some Bangladesh central bank officials deliberately exposed its computer systems and enabled hackers to steal $81 million from its account at the Federal Reserve Bank of New York in February, a top investigator in Dhaka told Reuters on Monday. The comments by Mohammad Shah Alam of the Dhaka police are the first sign that investigators have got a firm lead in one of the world's biggest cyber heists. Arrests are soon likely, he said. On Thursday, the head of a Bangladesh government panel that investigated the heist said five bank officials were guilty of negligence but that they were only unwitting accomplices. Alam told Reuters his investigations had discovered that some bank officials had knowingly created vulnerabilities in the bank's connection to the SWIFT system, used for global transactions.Early this year, hackers targeted Bangladesh's central bank to get away with $1bn. At the time, it was reported that the gang behind the raid used stolen credentials to make requests to transfer cash look legitimate.
If all the requests had gone unchallenged, the gang would have got away with about $1bn.
However, the transfers were stopped when the volume of requests raised suspicions at other banks.
Amateurs... If they had only been collecting the rounding errors from the transactions they would have eventually pulled that cool $1bn without anyone knowing...
Violence is the last refuge of the incompetent. Polar Scope Align for iOS
See subject: That's where banks no longer verified vs. "NSF" (insufficient funds or illegal instruments) on checks - so if you as the depositor cash one YOU are liable.
* NOW, think about this - It'd actually be possible for banks themselves to be BEHIND such machinations "making bank" on them @ YOUR EXPENSE (if you're stupid enough to NOT check for it being NSF or part of a fraudulent series of say, money orders). Think about it - they could be setting clients up making these things happen.
Banks justify this negligence putting the risk on you the client of said by saying "it speeds up transactions" (yea for them good or bad, not you).
After seeing this debacle? It wouldn't surprise me IF banks are doing THIS crap, this exact way & negligence + a bogus law helps it happen.
APK
P.S.=> I used to be a loss prevention mgr. ages ago (before my comp. sci. related career) & I spent a good portion of a day verifying these things (checks or money orders) & had a scammer try it on me (selling a vidcard on postaroo for $50 & he sent me $5,000 in bogus Western Union money orders I did a check on w/ WU myself, they were part of a known stolen series of these - So I blew him into the FBI immediately, he was caught & that was that - served him right)... apk
Not really IT news, and kind of obvious. I mean, i guess it involves IT equipment, but so does shopping. Is Slashdot eventually going to become a repository for every single story going?
That was obvious from the beginning there was some kind of in side collaboration to crack the Swift network. This is not possible otherwise and it was surely not a security problem with the router as many said in February that may have open the door. Everything is encrypted from the beginning, there is nothing gain from a router hack if you don't already have the encryption keys.
Achille Talon
Hop!
They got burned by insourcing.
Table-ized A.I.
five bank officials were guilty of negligence but that they were only unwitting accomplices. Alam told Reuters his investigations had discovered that some bank officials had knowingly created vulnerabilities in the bank's connection to the SWIFT system, used for global transactions.
Sure sounds like some bank officials wanted the typical security exemptions of management and that it really bit them in the ass this time. Bangladesh isn't known for it's leniency and frankly, I hope they throw the book at them.
Anons need not reply. Questions end with a question mark.
"some bank officials had knowingly created vulnerabilities in the bank's connection to the SWIFT system, used for global transactions."
I thought the vulnerabilities were introduced by emailing them malware that reprogrammed their Windows desktops to perform unauthrorzed transactions and prevented the Oracle database from printing out an acknowlegment of the transactions. The hack consisted of altering two bytes in a running Windows process.
Amateurs... If they had only been collecting the rounding errors from the transactions they would have eventually pulled that cool $1bn without anyone knowing...
I saw a docudrama about something similar to this once. It went well until the evil boss caught the employee and convinced him to build an evil supercomputer.
As I recall, it almost turned out quite badly.
Correct. The hack wasn't on the SWIFT network. No one broke SWIFT's security or forged transactions. They used legitimate authorized systems to send valid commands to the SWIFT network. It was the Bangladesh central bank's security and audit systems that were by-passed.
Comment removed based on user account deletion
The Jew media keeps telling me so, over and over...
What, you mean Bangladesh is a corrupt, shit encrusted third world HELLHOLE because of the RACE of the people who live there? Never! It's the LANDMASS itself that makes them corrupt, ugly, pointless, futile wastes of space. It must be! The TV said so!