Precious Metals Forum

Go Back   Precious Metals Forum > Precious Metals and Economic News > Fiat Ponzi

Reply
 
LinkBack Thread Tools
Old 04-26-2016, 07:44 AM   #1
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 7,027
Liked: 2449 times
Hackers steal from central bank via SWIFT platform

Quote :
SWIFT, the global financial network that banks use to transfer billions of dollars every day, warned its customers on Monday that it was aware of "a number of recent cyber incidents" where attackers had sent fraudulent messages over its system.

The disclosure came as law enforcement authorities in Bangladesh and elsewhere investigated the February cyber theft of $81 million from the Bangladesh central bank account at the New York Federal Reserve Bank. SWIFT has acknowledged that the scheme involved altering SWIFT software on Bangladesh Bank's computers to hide evidence of fraudulent transfers.

Monday's statement from SWIFT marked the first acknowledgement that the Bangladesh Bank attack was not an isolated incident but one of several recent criminal schemes that aimed to take advantage of the global messaging platform used by some 11,000 financial institutions.

"SWIFT is aware of a number of recent cyber incidents in which malicious insiders or external attackers have managed to submit SWIFT messages from financial institutions' back-offices, PCs or workstations connected to their local interface to the SWIFT network," the group warned customers on Monday in a notice seen by Reuters.
...
Cyber security experts said more attacks could surface as SWIFT's banking clients look to see if their SWIFT access has been compromised.

Shane Shook, a banking security consultant who investigates large financial crime, said hackers were turning to SWIFT and other private financial messaging platforms because such attacks can generate more revenue than going after consumers or small businesses.

"These hacks specifically target financial institutions because smaller efforts result in much larger thefts," he said. "It's much more efficient than stealing from consumers."
...
http://www.reuters.com/article/us-cy...-idUSKCN0XM2DI

I'm gonna go out on a limb here and guess this wasn't the work of some lone wolf hackers. This has state actor written all over it IMO. The USA once threatened Russia with being frozen out of the SWIFT system. Russia haz very good haxxors...

Can something truly be "stolen" if that "something" doesn't actually exist as a tangible thing? Where were these billions transferred to? How does a haxxor group translate these electronic billions into real billions outside of the "paper" trail electronic system?
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is offline   Reply With Quote
Old 04-26-2016, 10:07 AM   #2
Yellow Jacket
 
rblong2us's Avatar
 
Join Date: Nov 2011
Location: off world
Posts: 1,970
Liked: 872 times
As you suggest Bug, it might encourage some to consider using an alternative to SWIFT ........
__________________
if it cant be done with a digger .... it cant be done
rblong2us is offline   Reply With Quote
Old 04-26-2016, 06:58 PM   #3
Fly on the wall
 
Join Date: Jan 2013
Posts: 48
Liked: 38 times
Sounds like an inside job was my first thought.
Chigg is offline   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
What happens when a central bank goes bust? benjamen Fiat Ponzi 1 07-26-2013 09:24 AM
Be your own central bank Unobtanium PM Bug 0 02-24-2013 12:06 PM
Pathogenesis of Central Bank Ruin PMBug Fiat Ponzi 5 12-17-2011 02:16 PM
Central Bank Actions in the EU vox Fiat Ponzi 1 12-01-2011 06:28 AM
SLV / JPM forecasts central bank intervention? PMBug Silver Bug 2 11-02-2011 06:34 AM


All times are GMT -5. The time now is 06:31 AM.


Powered by vBulletin® from Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0 PL2 ©2011, Crawlability, Inc.
Content of PMBug.com copyright © 2011 - 2019 Measuring Up. All Rights Reserved.