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World

Bangladesh probe blames SWIFT for cyber heist

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World

Bangladesh probe blames SWIFT for cyber heist

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COMING UP:Bangladesh probe blames SWIFT for cyber heist

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00:00:02
>> Trading blame over one of the biggest cyber heists ever. A Bangladeshi investigation pointing the finger at the SWIFT messaging network, saying it opened the door for malware the attackers used to steal $81 million from the Country Central Bank in February. Asia Chief Technology Correspondent, Jeremy Wagstaff, explains how.
00:00:19
>> SWIFT is a International monetary system, its customers, 3,000 financial institutions use its system to send messages. These messages are usually about exchanges between banks. SWIFT helped install their own system in Bangladesh Bank last October, a few months before the heist. What the Bangladeshis say, is there was a problem with the installation of this, it left vulnerabilities, it left holes through which the attackers were able to steal the money and send it overseas.
00:00:52
>> SWIFT has already denied blame for the theft insisting that it's system is secure. But after hackers got into Bangladesh Bank, they used that system to send requests for the millions they stole. Now there are signs it wasn't a one off case, late Sunday Vietnam's TPBank said it too was targeted by a hack last year aiming for a million dollars.
00:01:11
The hackers used, you guessed it, SWIFT.>> They also seem to be getting more knowledgeable, either through insiders, or just through their own inspection of software, to understand how these banks work. We might possibly conclude that the TPBank case was something like a dry run for Bangladesh Bank.
00:01:30
But whatever we learn, we get the sense that this is the tip of a larger iceberg. Indeed, SWIFT itself is saying that this may be part of a wider string of attacks.>> The 81 million hackers stole from Bangladesh disappeared into shady Philippines casinos, out of reach of local laws, from there it's anyone's guess.
00:01:52
So far none of it has been found.