Careless Typo Derails £600m Hacker Bank Job

By Gary Cutlack on at

Hackers said to have stolen around $80m (£60m) from Bangladesh's central bank could've multiplied their take by ten, had one of the crew not managed to spell "foundation" wrong in one of the rogue money transfer out requests.

The case saw hackers apparently gain access to the country's account at the Federal Reserve Bank of New York via stolen credentials for payments, wherein they started smashing money out in $20m chunks to a variety of overseas accounts. Up to $81m was transferred before one $20m request contained the misspelled word -- prompting officials to seek clarification of the destination. And there the ruse was uncovered, with dozens of fraudulent transactions totalling more than $800m lined up for processing.

The Bangladesh Bank says it has evidence that some of the money was diverted to banks in the Philippines, including the initial $80m that's apparently been fully laundered and withdrawn from the banking system entirely, although the Fed Bank denies there was an actual breach of its systems -- because the money was transferred with legit credentials and it's not its fault if the Bangladeshis had their passwords nicked. [Reuters]

Image credit: Bangladesh Bank from Shutterstock

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