BB Cyber Heist

NY Fed, BB, SWIFT to work together

Federal Reserve Bank of New York, Bangladesh Bank and Society for Worldwide Interbank Financial Telecommunication (Swift) will work together to protect any kind of cyber heist and normalize operation, reports UNB.
This commitment was made in a statement issued on Tuesday by the New York Fed following its tripartite meeting Bangladesh Bank (BB) and Swift in Basel of Switzerland.
The statement said that representatives of the New York Fed, Bangladesh Bank and Swift met in Basel, Switzerland to discuss the cyber-heist of $101 million from Bangladesh treasury account with New York Fed on February 5. President William Dudley from the New York Fed and Governor Fazle Kabir from Bangladesh Bank attended the meeting.
In the first tripartite meeting of the three sides since news of the heist broke, they briefed each other on actions taken and exchanged information about the cyber and physical vulnerabilities illustrated by this event. The statement mentioned that all parties stated their concern over this event and their continued commitment to work together to normalize operations.
The parties also agreed to pursue jointly certain common goals: to recover the entire proceeds of the fraud and bring the perpetrators to justice, and protect the global financial system from these types of attacks.

BB Cyber Heist

NY Fed, BB, SWIFT to work together

Federal Reserve Bank of New York, Bangladesh Bank and Society for Worldwide Interbank Financial Telecommunication (Swift) will work together to protect any kind of cyber heist and normalize operation, reports UNB. This commitment was made in a statement issued on Tuesday by the New York Fed following its tripartite meeting Bangladesh Bank (BB) and Swift in Basel of Switzerland. The statement said that representatives of the New York Fed, Bangladesh Bank and Swift met in Basel, Switzerland to discuss the cyber-heist of $101 million from Bangladesh treasury account with New York Fed on February 5. President William Dudley from the New York Fed and Governor Fazle Kabir from Bangladesh Bank attended the meeting. In the first tripartite meeting of the three sides since news of the heist broke, they briefed each other on actions taken and exchanged information about the cyber and physical vulnerabilities illustrated by this event. The statement mentioned that all parties stated their concern over this event and their continued commitment to work together to normalize operations. The parties also agreed to pursue jointly certain common goals: to recover the entire proceeds of the fraud and bring the perpetrators to justice, and protect the global financial system from these types of attacks.