Mystery Man Behind $100 Million Central Bank Heist
Mar 30, 2016 12:03:38 GMT -6
Nugget, Glencairn, and 1 more like this
Post by Rickster on Mar 30, 2016 12:03:38 GMT -6
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Can anyone say bankers deaths?? Just say'in.
Imagine that... the CCTV cameras were turned off. Just how does the swift terminal messaging system get left open?? I can see hackers attacking the swift system, but it is pretty much unheard of, but turning off the CCTV cameras? That would take an additional password. Interesting stuff here for sure, a glimpse into the ultrabasic view of an interbank transfer. But if you were at a level high enough to see the ledger of these interbank transfers you could just accidently walk off of a roof or fall out of your yuppfied apartment window to your death.
More To The Story...
"Bangladesh is not pleased with the NY Fed.
One Friday in early February, hackers who had apparently been stalking the Bangladesh central bank for at least two weeks bombarded the Fed with requests for transfers of nearly $1 billion from the country's FX reserves.
The good news: the vast majority of that total was not transferred. The bad news: $100 million of it was and of that $100 million, more than $80 million is still missing.
For those who missed the story, you can review it in all its James Bond-ish glory in the four posts linked below, but here is a brief summary of what happened to the $81 million: 1) it was transferred to four accounts at the Jupiter Street, Makati City, branch of Rizal Commercial Banking Corp (RCBC) in the Philippines, 2) $470,000 in cash went into the branch manager's trunk and the rest went to a possibly forged (but possibly not) account registered to one William Go, 3) the money was transferred to an FX broker called Philrem, 4) $50 million was split between two casinos and the remaining $31 was delivered to a "Weikang Xu" in cash.
From there, the trail goes cold."
One Friday in early February, hackers who had apparently been stalking the Bangladesh central bank for at least two weeks bombarded the Fed with requests for transfers of nearly $1 billion from the country's FX reserves.
The good news: the vast majority of that total was not transferred. The bad news: $100 million of it was and of that $100 million, more than $80 million is still missing.
For those who missed the story, you can review it in all its James Bond-ish glory in the four posts linked below, but here is a brief summary of what happened to the $81 million: 1) it was transferred to four accounts at the Jupiter Street, Makati City, branch of Rizal Commercial Banking Corp (RCBC) in the Philippines, 2) $470,000 in cash went into the branch manager's trunk and the rest went to a possibly forged (but possibly not) account registered to one William Go, 3) the money was transferred to an FX broker called Philrem, 4) $50 million was split between two casinos and the remaining $31 was delivered to a "Weikang Xu" in cash.
From there, the trail goes cold."
Can anyone say bankers deaths?? Just say'in.
"The CCTV cameras at the bank weren’t functioning during the questionable transfers but branch manager Maia Santos Deguito stands accused of ignoring a stop order from the central bank and from her superiors. Meanwhile William Go claims he had nothing to do with it, Bangladesh's finance minister AMA Muhith thinks his country’s central bank was in on the scam, and the NY Fed says it followed proper protocol. This evening, WSJ reported that according to people familiar with Bangladesh central bank's operations, its SWIFT terminal for interbank messaging might have been left logged on on the night of February 4, creating a hole via which more than $100 million was stolen.
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As we wrote last week, “what seems likely here is that this is part of something far larger and it could very well be that none of the people along the paper trail (Deguito, Go, whoever was or wasn't involved at the Bangladesh Bank, etc.) actually knows who is ultimately pulling the strings.”
Regardless of who is behind the heist, the Fed “cannot avoid their responsibility in any way," FinMin Muhith insists.
His government is apparently willing to push that line, because as Reuters reports, “Bangladesh's central bank has hired a lawyer in the United States for a potential lawsuit against the New York Federal Reserve.”
"We view this as a major lapse on the part of FRB NY," BB said in the report, a copy of which was obtained by Reuters."
Plot Thickens In New York Fed Heist As $30 Million In Cash Said Delivered To Mystery Chinese Man
The Incredible Story Of How Hackers Stole $100 Million From The New York Fed
Chinese Hackers Break Into NY Fed, Steal $100 Million From Bangladesh Central Bank
Mystery Of New York Fed Robbery Has Central Banks Asking Who's Next
As we wrote last week, “what seems likely here is that this is part of something far larger and it could very well be that none of the people along the paper trail (Deguito, Go, whoever was or wasn't involved at the Bangladesh Bank, etc.) actually knows who is ultimately pulling the strings.”
Regardless of who is behind the heist, the Fed “cannot avoid their responsibility in any way," FinMin Muhith insists.
His government is apparently willing to push that line, because as Reuters reports, “Bangladesh's central bank has hired a lawyer in the United States for a potential lawsuit against the New York Federal Reserve.”
"We view this as a major lapse on the part of FRB NY," BB said in the report, a copy of which was obtained by Reuters."
Imagine that... the CCTV cameras were turned off. Just how does the swift terminal messaging system get left open?? I can see hackers attacking the swift system, but it is pretty much unheard of, but turning off the CCTV cameras? That would take an additional password. Interesting stuff here for sure, a glimpse into the ultrabasic view of an interbank transfer. But if you were at a level high enough to see the ledger of these interbank transfers you could just accidently walk off of a roof or fall out of your yuppfied apartment window to your death.
More To The Story...
