Threat Management

U.S. feds looking into $81M theft from Bangladesh Bank in New York

A probe into the cybertheft of $81 million from the account of Bangladesh Bank held at the Federal Reserve Bank of New York is now under way by the U.S. attorney's office.

In February, still-unknown perpetrators used the SWIFT fund-transfer network to siphon funds from the Bangladesh Bank account after phony payment instructions were input and the Fed bank transferred funds to accounts in the Philippines.

Preet Bharara, the U.S. attorney for the Southern District of New York, is reportedly investigating the heist.

This is just the latest in a string of cyberheists, prompting involvement by the FBI and other government entities which are advising banks to be more vigilant in looking for indications of anomalous transactions.

Police in Bangladesh and other law enforcement bureaus also are looking into the theft. As well, a U.S. congressional committee has begun an examination into the New York Fed's handling of the incident.

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