The $1,000,000,000 Central Bank Bangladesh Heist By North Korea

#BangladeshBank #TajususTv #Heist #NorthKorea #Hackers
It was a daring raid. Tens of millions of dollars stolen from Bangladesh’s central bank via the Federal Reserve Bank of New York transferred to accounts in the Philippines and then laundered through the Philippine casino system.

The money, and the thieves, then vanished. And it was all done online. The crime stunned the then-governor of Bangladesh Bank, Atiur Rahman. “It was like a terrorist attack, into the central bank,” he says. “I couldn’t believe it … because nothing like that … ever happened.”

The robbery prompted investigations in the Philippines, Bangladesh, and by the FBI. It revealed weaknesses in the supposedly secure global money transfer system known as SWIFT, which banks use to move billions of dollars daily between themselves. this was an international crime spanning from Bangladesh to the Philippines, the USA, and North Korea

The heist also exposed the murky banking system of the Philippines, where some of the world’s toughest bank secrecy laws make the country vulnerable to potential corruption and money laundering. And it drew attention to the country’s casinos, which are exempt from anti-money laundering laws, and not required to report suspicious transactions.