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NY Fed first rejected cyber-heist transfers, then moved US$81m

Fed's decision to later fulfil some resubmitted requests raises questions about whether it missed red flags
Monday, June 6, 2016 - 05:50

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Swift plans a new program to improve security, and also wants banks to "drastically" improve information sharing.

Dhaka, Bangladesh

HOURS before the Federal Reserve Bank of New York approved four fraudulent requests to send US$81 million from a Bangladesh Bank account to cyber thieves, the Fed branch blocked those same requests because they lacked information required to transfer money, according to

sentifi.com

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