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The Hacker Loss of 870 Million USD Because of "Typo"

BANGLADESH - Typographical Error also known as "Typo" can make a nuisance. For example such as the incident who experienced by...

BANGLADESH - Typographical Error also known as "Typo" can make a nuisance. For example such as the incident who experienced by the hackers group of bank fraud in last February.

The hackers broke into a digital pathway of Bangladesh central bank . Then, they started for money transfer to a containers accounts in Philippines and Sri Lanka, from an account at the Federal Reserve Bank in New York.

Bad luck for them, from the amount of 1 billion US dollars who plan would be transferred, amounting to 870 million US dollars was foiled by the authorities.

The reason comes from a simple Typo. When they want to move a 20 million US dollars to a foundation named Shalika Foundation, the hackers apparently mistyped the word "Foundation" into "Fandation".

Quoted from ArsTechnica, Friday (03/11/2016), this discrepancy tracked by a staff member at Deutsche Bank who rushed to contact the authorities in Bangladesh for clarification. When it was discovered that the bank fraud process was in progress.

After the investigation, the foundation of "Shalika Foundation" turned out to be fictitious or never existed.

The authorities in New York also contributed to suspicious because there is a lot of demand for great-value transfer leads to individual accounts, not other banks. Transactions then blocked and an amount of 870 million US dollars had been successfully rescued.

Unfortunately, the money amount of 81 million US dollars already transferred and taken away by the hacker, whose identity is still unknown.

The authorities in Bangladesh say that it's unlikely the digital thieves can be arrested. The stolen money was difficult to be restored. If it can, will take up to several months.

The investigators concluded that the hackers in question has a deep knowledge about the ways of workings at the central bank, or maybe obtained by spying the staff and come from outside Bangladesh.
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MicroSiv™: The Hacker Loss of 870 Million USD Because of "Typo"
The Hacker Loss of 870 Million USD Because of "Typo"
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