Share

FBI suspects insiders in $81m Bangladesh central bank theft

Washington - The US Federal Bureau of Investigation suspects the computer hacking theft of $81m from Bangladesh's central bank was in part an inside job, the Wall Street Journal reported on Tuesday.

Quoting sources familiar with the matter, the Journal said FBI agents investigating the case "have found evidence pointing to at least one bank employee acting as an accomplice."

But it added that "a handful of others" may have also aided the hackers in breaking into the computers of Bangladesh Bank.

The spectacular cyber-theft has embarrassed the government in Dhaka, triggered outrage in the impoverished country and raised alarm over the security of the global infrastructure linking central banks.

Hackers fabricated official electronic transfer orders to move the money from Bangladesh Bank's account with the Federal Reserve Bank of New York in February and send it to accounts in the Philippines, where it then disappeared, in part through the Philippines casino industry.

But the New York branch of the US central bank blocked most of the bogus transfer orders it received, preventing the theft from skyrocketing to $1bn.

The involvement of the New York Fed has brought the FBI into the case, but the Fed is not being viewed as blameworthy.

Separately, the global financial transfers network Swift on Monday rejected reported accusations by Bangladesh police and bank officials that it was to blame for low security protections.

"Swift was not responsible for any of the issues cited by the officials, or party to the related decisions," it said in a statement.

"As a Swift user like any other, Bangladesh Bank is responsible for the security of its own systems interfacing with the SWIFT network and their related environment - starting with basic password protection practices - in much the same way as they are responsible for their other internal security considerations."

Swift said its officials would be meeting with representatives of Bangladesh Bank and the New York Fed in Basel on May 10.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.89
+0.2%
Rand - Pound
23.84
+0.3%
Rand - Euro
20.38
+0.3%
Rand - Aus dollar
12.31
+0.3%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders