Bangladesh Bank asks all banks to beef up cyber security measures

Staff Correspondent | Updated at 08:43pm on August 16, 2018

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Bangladesh Bank

Bangladesh Bank on Thursday cautioned all the scheduled banks of cyber-attack asking all the entities to boost up security measures on the brink of recent cyber-attack at neighboring country India.

Cyber criminals hacked the systems of India’s Cosmos Bank and siphoned off nearly $13.5 million through simultaneous withdrawals across 28 countries over the weekend.

The central bank in its circular issued on Thursday stated that the country is also at risk of cyber-attack or hacking as a rising economy.

In 2016, unknown hackers stole more than $81 million from the Bangladesh central bank’s account with the Federal Reserve Bank of New York. Investigators have made little progress in the case.