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
Mon, Jun 06, 2016 - 5:50 AM
Swift plans a new program to improve security, and also wants banks to "drastically" improve information sharing.
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...