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Category Archives: Banking News

BB heist similar to Sony hack; SWIFT says 2nd bank hit by malware

businessnews24bd.com Investigators probing the cyber heist of $81 million from the Bangladesh central bank connected it on Friday to the hack at Sony Corp’s film studio in 2014, while global financial network SWIFT disclosed a previously unreported attack on a commercial bank. SWIFT did not say which commercial bank it was or whether it had lost money, but cyber-security firm ... Read More »

Probe body chief Farashuddin blames SWIFT for $81 m BB cyber heist

The head of the Bangladesh Bank-commissioned inquiry committee has blamed SWIFT for the hacking and stealing of $81 million in foreign currency reserves kept at the Federal Reserve Bank of New York, reports bdnews24.com “It’s SWIFT which is responsible for the theft of Bangladesh Bank Reserve. Some BB officials have also been negligent. And Federal Reserve Bank also cannot deny ... Read More »

FBI suspects BB heist insider job

businessnews24bd.com US investigators suspect the theft by computer hackers of US$81 million from Bangladesh Bank was partly an inside job-the first hint of culpability in a case that has exposed new vulnerabilities in the international banking system, according to a report of The Wall Street Journal. Agents of the Federal Bureau of Investigation (FBI) have found evidence pointing to at ... Read More »

Banks responsible for own cybersecurity :SWIFT

They are responsible for securing their points of access to the SWIFT system. They added that SWIFT does not guarantee that criminals will not gain access to clients’ SWIFT keys, encryption devices that are used to identify legitimate users, reports bdnews24.com A SWIFT spokesperson told Reuters on Wednesday that SWIFT registers and authenticates its customers, issuing them encryption tools including ... Read More »

BB heist probe finds 3 hacker groups: Bloomberg

businessnews24bd.com Investigators probing the cyber theft of $81 million from Bangladesh’s central bank have discovered evidence of unidentified hacking groups from North Korea, Pakistan and one other place inside the bank’s network, Bloomberg reported, citing two people briefed on the progress of the bank’s investigation. FireEye Inc, the company hired by the bank to conduct the forensics investigation, identified digital ... Read More »

Before massive BD heist, NY Fed feared cyber attacks

businessnews24bd.com In the years before hackers stole $81 million from a Bangladesh central bank account at the Federal Reserve Bank of New York, senior Fed security officials examined the risk of such an attack – but judged the prospect unlikely, bank sources told Reuters. The Fed managers worried that lax security procedures and outdated technology at some foreign central banks ... Read More »

Citi named ‘Best Digital Bank in Asia’ in Asset’s Digital Enterprise Awards

Citi has been named the ‘Best Digital Bank in Asia’ by The Asset Magazine in its inaugural Asset Triple-A Digital Enterprise Awards, reports bdnews24.com  The bank also picked up best Digital Bank in India and Indonesia, a media release from the bank said on Friday. “Last year Citi passed the 8-million mark for clients in Asia those are signed up ... Read More »

BB warns to stop banking activities with DMCSL

 businessnews24bd.com Bangladesh Bank (BB) on Wednesday  warned the people to stop banking activities with the Dhaka Mercantile Co-operative Society Limited (DMCSL) as it has not taken banking license from Bangladesh Bank, according to a release.”An allegation has been made that the Dhaka Mercantile Co-operative society Limited has been running illegal banking activities by using the word of bank with its ... Read More »

Manila starts process to return money, may end by Jun 30

businessnews24bd.com Bangladesh Bank may have to wait longer before it gets the amount turned over by casino junket operator Kim Wong to the Anti-Money Laundering Council (AMLC) for safekeeping, although the court has already asked authorities to preserve the money. It will take several more procedures before the money is turned over to Bangladeshi authorities, as executive Judge Reynaldo A. ... Read More »

Reserve heist probe info after full report : Muhith

businessnews24bd.com Finance Minister AMA Muhith on Thursday said the investigation report on the Bangladesh Bank’s reserve heist will be published after getting the full report. The minister came up with the statement while talking to reporters after inaugurating the Bangladesh wing of PricewaterhouseCoopers (PwC), a London-based multinational professional services network, in the city’s Gulshan. “The investigation report will be made ... Read More »

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