When hackers took world banking for a ride
Heist raises questions about how securely money is being moved around world
New York
TENS of millions of dollars siphoned from the Federal Reserve Bank of New York. A shadowy set of casinos in the Philippines. A large bank in Bangladesh with creaky technology. An unknown - and perhaps uncatchable - group of anonymous thieves with sophisticated hacking skills.
What unites this curious cast of characters and enabled one of the most brazen digital bank heists ever is a ubiquitous and highly trusted international bank messaging system called Swift.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Vietnam tycoon appeals against US$27 billion fraud death sentence
US announces new restrictions on firearm exports
Central banks will probably only cut half as much as they hiked
US consumer sentiment falls as inflation expectations climb
HSBC wins £1.3 billion suit over Disney film finance scandal
WTO countries to reboot dispute reform negotiations