Billion-dollar bank heist investigation by cyber security expert

TLDR A cyber security expert investigates a billion-dollar bank heist involving the exploitation of SWIFT terminals and the global financial system, leading to involvement from the FBI and the United States Embassy. The hackers managed to steal $81 million from the Bank of Bangladesh but their attempt to steal $1 billion was thwarted by a red flag raised due to the location's name being on the U.S. sanctions list.

Timestamped Summary

00:00 A cyber security expert is summoned to investigate one of the biggest bank heists in history, involving a clever exploitation of the global financial system.
03:22 A cyber security expert investigates a billion-dollar bank heist involving the exploitation of SWIFT terminals and the global financial system, leading to involvement from the FBI and the United States Embassy.
06:41 Hackers moved Bangladesh's money from the New York Fed to the Philippines, leading the FBI to suspect North Korea's involvement in the audacious heist.
10:13 The Lazarus Group executed a sophisticated digital heist on the bank of Bangladesh by infiltrating the system through phishing emails and impersonating employees to transfer money via the Swift system.
13:28 The Lazarus Group strategically executed the heist on the Bank of Bangladesh by disabling alarms, covering their tracks, and timing the attack when employees were away for the weekend, allowing them to transfer money unnoticed.
16:28 The hackers managed to steal $81 million from the Bank of Bangladesh by exploiting time zone differences and transferring the money to a bank on Jupiter Street in the Philippines, but their attempt to steal $1 billion was thwarted by a red flag raised due to the location's name being on the U.S. sanctions list.
19:58 The SWIFT system has implemented additional security measures and now requires member banks to keep their SWIFT terminals separate from their normal computer network to prevent heists like the one that occurred in Bangladesh in 2016.
Categories: Business News

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