Exclusive: NY Fed first rejected cyber-heist transfers, then moved $81 million

  • Despite the technical compliance, the New York Fed rejected 30 of the requests a second time.
  • The Bangladesh Bank official and another source close to the bank said the New York Fed should have rejected all the requests on both the first and second attempts.
  • The cyber theft from Bangladesh’s central bank – and recent disclosures of other similar fraud attempts – have brought scrutiny on the SWIFT messaging system.
  • On the second try, the messages had the proper formatting, the New York Fed official said.
  • Bangladesh Bank and SWIFT declined to comment.

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@Bitcoin: “Exclusive: NY Fed first rejected cyber-heist transfers, then moved $81 million”


By Krishna N. Das and Jonathan Spicer DHAKA/NEW YORK (Reuters) – Hours before the Federal Reserve Bank of New York approved four fraudulent requests to send $81 million from a Bangladesh Bank account to cyber thieves, the Fed branch blocked those same requests because they lacked information required


Exclusive: NY Fed first rejected cyber-heist transfers, then moved $81 million