Bangladesh Panel Finds Possible Insider Role In Central Bank Cyber Theft

[Ron Burgundy]

Officials of Bangladesh Bank may have been involved in a brazen theft of $81 million from its account with the New York Federal Reserve Bank in February, the head of a government-appointed panel investigating the cyber heist told reporters on Monday. Hackers broke into the computer systems of the Bangladesh central bank and issued instructions through the SWIFT network to transfer $951 million of its deposits held at the New York Federal Reserve Bank to accounts in the Philippines and Sri Lanka. Most of the transactions were blocked but four went through, amounting to $81 million, sparking allegations by Bangladeshi officials that both the Fed and SWIFT had failed to detect the fraud.

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