SWIFT responsible for BB cyber heist: Farashuddin

Global financial messaging network SWIFT is responsible for the hacking of the Bangladesh Bank (BB) reserve, said Mohammed Farashuddin, head of the committee probing the heist.

Farashuddin, also a former governor of the Bangladesh Bank, came up with the disclosure based on primary investigation while addressing media at BB on Sunday.

“SWIFT is responsible for the $81 million reserve heist. The organisation installed the first real-time gross settlement (RTGS) system despite spotting malware in the BB network,” Farashuddin said.

Farashuddin also informed that SWIFT could not recover any message of Bangladesh Bank from February 4 to March 16.
 
He also alleged that the Federal Reserve Bank of New York too cannot deny its responsibility alongside the SWIFT.

On February 4, hackers stole US$101 million from the Bangladesh Bank’s account with the Federal Reserve Bank of New York.

A transfer of $20 million to Sri Lanka was stopped but $81 million was parked in and beyond the Philippines.