Hacker’s Typo Helped Stop A Billion Dollar Bank Heist

Hacker’s Typo Helped Stop A Billion Dollar Bank Heist

Xinhua News Agency Dhaka March 10 (Reuters) - Online bank transfer instructions misspelled helps prevent nearly one billion $ robbery involving Bangladesh's central bank last month and the New York Federal Reserve Bank, bank officials said.

Unknown hackers managed to escape is still about $ 8 billion, the largest bank in the history of one of the known theft.


Associated Press
Hackers bombing of New York Federal Reserve Bank has nearly three dozen mobile claim they had stolen the money, officials said.
Hacked system last month, Bangladesh Bank, stole their credentials payment transfers, two senior officials of Bangladesh Bank said.

Then they bombed the New York Federal Reserve Bank has nearly three dozen have asked to move the money to the Philippines and Sri Lanka entity from the Bangladesh bank account, the official said.

Four requests a total of approximately $ 81 million transfer to the Philippines experience, but the fifth, $ 20 million, non-profit organizations in Sri Lanka was delayed because hackers have misspelled the name of the NGO's.

Nonprofit full name not known. But one official said, the hackers misspelled the name of the NGO as "basic", "fandation," prompting the route, Deutsche Bank, from Bangladesh central bank to stop the transaction clarification.

Deutsche Bank declined to comment.


SEAN Gallup via Getty Images
When Deutsche Bank caught hacking transfer of funds typo made, the transaction is stopped.
Meanwhile, the payment instruction and transmission requirements unusually high number of private entities - in relation to other banks - the Federal Reserve has made suspicious, which alerted the Bangladesh officials said.

How to hacking details are exposed, it did more damage had not previously reported have been stopped. Bangladesh Bank has a multi-billion dollar current account with the Federal Reserve, which uses international settlement.

Resources are stopped trading totaled between $ 850 million and $ $ 87 billion US dollars, an official said.

Last year, the Russian computer security firm Kaspersky Lab said that transnational gangs cybercriminals up to 100 financial institutions from around the world in about two years stolen up to $ 1 billion.

Iraqi dictator Saddam Hussein's son Qusay, the $ 1 billion from the Central Bank of Iraq at his father in the country before the day of the order in 2003, coalition forces began bombing, US and Iraqi officials said. In 2007, Dar es Salaam bank in Baghdad guards and made off with $ 282 million.

MONEY RECOVERED

Bangladesh Bank has said it has restored a part of the stolen money, and money laundering in cooperation with the Philippine authorities to try to recover the rest of the funds.

Recovery of funds refers to the transfer of Sri Lanka, which has been stopped, an official said.

Robbery dizzying, global influence highlights how cybercriminals and hackers can find, even in the weak link in the most secure computer networks to steal money and rampant growing threat.

More than a month after the attacks, Bangladesh officials are scrambling to track down the money, supporting security and identify vulnerabilities in their systems. They say there is little hope of ever catching hackers, and the first recover the money, if at all the time it may take several months.

Security experts say, understanding the inner workings of the perpetrators had Bangladesh agencies may be obtained by a bank employee spying.

Bangladesh government, meanwhile, accused the Fed does not stop trading early.

Finance Minister Abul MAAL Abdul Muhith told reporters on Tuesday, the state sued the Federal Reserve may resort to recover the money.

"The Fed must take responsibility," the minister said.

New York Federal Reserve Bank has said that it does not destroy the system, it has been working with Bangladesh's central bank, since the incident.

Hackers between February 4 and February 5 Bangladesh Bank sometimes occur in Bangladesh weekend, which happens to be Friday, officials said. The bank's offices were closed the festival.

Initially, the central bank does not know if their systems have been destroyed, but the network security experts from outside to investigate and found that their advice system hackers "footprint" has been destroyed, officials said.

These experts may also be told to attack from outside Bangladesh, they said. The bank is still looking for how they got into the system and the internal investigation is continuing, they said.

Sent to the Philippines bank suspects money was diverted further casino there, officials said.

Philippine Amusement and Gaming Corporation, which oversees the gaming industry, saying it had launched an investigation. The country's anti-money laundering authorities also are investigating the case.

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