SWIFT Should Be Responsible For Cyber Theft Says Bangladesh

The Bangladesh Government appointed a panel to investigate the theft of $81 Million from the country's Central Bank. The hackers went undetected and also erasing all their records of the Transfers. The British Defence Contractor BAE Investigators said hackers who stole from the Bangladesh Central Bank hacked a Software from SWIFT. the Probing Panel Head said SWIFT has made error connecting the local network.

Also Read: Anonymous Hackers Begins Campaign Against Banks

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The Former Governor Of The Bangladesh Central Bank, Mohammed Farashuddin said also Said SWIFT made some errors making it easy for the hackers. Real Time Gross Settlement (RTGS)  a System launched for Domestic Transaction which SWIFT connected to Bangladesh Central Bank network.

He said SWIFT were responsible for the Theft since they approached the Bangladesh Central Bank with Real Time Gross Settlement (RTGS). Although SWIFT has rejected the accusation made by the Dhaka Investigators from Bangladesh that they were at fault. They said their Financial Messaging is secured and nothing is breached by Hackers who attack the Bangladesh Central Bank.

The Hackers attempted to transfer $951 Million from the Bangladesh Central Bank account which was located in New York Federal Reserve Bank to accounts in Philippines and Sri Lanka which $850 Million were suspended and $81 Million was successful. It's been said the malware used by hackers has the ability to delete any messages to confirm about transfer of funds, which make them undetected.

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